Transit time is the elapsed time a carrier quotes for a shipment to move from one point to another. Quoted figures are frequently not comparable, because carriers measure different intervals: port to port, terminal to terminal, or door to door, with or without expected dwell at transhipment, and counting either calendar or working days. Nothing obliges a carrier to say which it means, and most schedules are offered as estimates rather than commitments. A transit time in a quotation is therefore rarely a promise and rarely the number you need. Where delivery timing carries commercial weight, the contract has to define the start and end events, say whether transhipment dwell is included, and say what happens when the figure is missed.
Why this entry carries no source list. This lexicon cites an official primary source wherever one exists and says so plainly where none does. This term is market convention: it was coined by commercial practice, it is used by everyone in the trade, and no body defines it. Pointing at a carrier’s tariff, a bank’s product page or a trade association’s explainer would dress one participant’s usage as a general rule. The practical upshot runs through the paragraph above — where the word carries no fixed meaning, the contract has to supply one.