Glossary of Trade Terms

Glossary of International Trade Terms
American Association of Exporters and Importers.
The act of refusing delivery of a shipment so badly damaged in transit that it is worthless; OR damage to a vessel that is so severe that it is considered a constructive total loss.
The purchase at wholesale of all merchandise that is intended to be sold in a particular retail market for the purpose of controlling that market.
Automated Broker Interface: A module of ACS which provides a communications link for the transmission of entry and entry summary data on imported merchandise between all ABI users.
An advantage of one nation or area over another in the costs of manufacturing an item in terms of used resources.
Investment and consumption purchases by households, businesses and governments both domestic and imported.
The gradual reduction of import duties over time.
An unconditional assent to an offer; OR An assent to an offer conditioned on only minor changes that do not affect any material terms of the offer; OR Receipt by the consignee of a shipment thus terminating the common carrier liability.
A letter of credit which, in addition to other required documents, requires presentation of a term draft drawn on the bank nominated as the accepting bank under the letter of credit.
A bill of exchange accepted by the drawee (acceptor) by putting his signature (acceptance) on its face. In doing so, he commits himself to pay the bill upon presentation at maturity.
A bank who by signing a time draft accepts responsibility to pay when the draft becomes due. In this case the bank is the drawee (party asked to pay the draft), but only becomes the acceptor (party accepting responsibility to pay) upon acceptance (signing the draft). See acceptance; bill of exchange.
The party that signs a draft or obligation, thereby agreeing to pay the stated sum at maturity.
The process by which a country becomes a member of an international agreement, such as the General Agreement on Tariffs and Trade (GATT).
Goods that are affixed to and become part of other goods.
Charges made for additional, special, or supplemental services, normally over and above the line haul services.
Services performed by a shipping line or airline in addition to the normal transportation service.
An action by one individual or legal entity that is taken as a favor, without any consideration, for another individual or legal entity.
A commercial instrument of debt that is issued by or for an accommodated party (who is expected to pay the debt) and that contains the name of the accommodation party.
A means of discharging a contract or cause of action by which the parties agree (the accord) to alter their obligations and then perform (the satisfaction) the new obligations.
An identifying number issued by a carrier's accounting office to identify a shipper and/or consignee.
A current liability representing the amount owed by an individual or a business to a creditor(s) for merchandise or services purchased on an open account or short-term credit.
Money owed a business enterprise for merchandise or services bought on open account.
The time at which an obligation matures or vests, requiring the obligor to perform.
Automated Commercial Environment: A US Customs electronic data system, which when complete, will provide support for enforcing trade and contraband laws, ensuring trade compliance, and providing service and information to the international trade community.
The purchase of complete or majority ownership in a business enterprise, usually by another business enterprise.
Automated Commercial System: The comprehensive tracking, controlling, and processing system of the U.S. Customs Service. ACS is composed of many different modules or systems.
"An act of nature beyond man's control such as lightning, flood, earthquake or hurricane. Many shipping and other performance contracts include a "force majeure" clause which excuses a party who breaches the contract due to acts of God."
A legal action for breach of a promise stated in an express or implied contract.
(a) A legal action for a breach of a duty that is not stated in a contract but arises from the contract. (b) A legal action that arises from a wrongful act, such as fraud.
A U.S. Customs duty assessed as a percentage rate or value of the imported merchandise.
Antidumping duties which are assessed when merchandise is sold to purchases in the US at less than fair value resulting in material injury to a US industry.
The official or primary location for an individual, company, or other organization.
Contract with standard, often printed, terms for sale of goods and services offered to consumers who usually cannot negotiate any of the terms and cannot acquire the product unless they agree to the terms.
Financial, training and re-employment technical assistance to workers, and technical assistance to firms and industries, to help them cope with adjustment difficulties arising from increased import competition.
Any civil or criminal issue having to do with maritime law.
A court of law that has jurisdiction over maritime legal issues.
The free entry of goods normally dutiable.
A short term loan or credit extended to the seller (usually the exporter) by the seller's bank once a draft has been accepted by the buyer (generally the importer) of the seller's goods.
The shipment of certain classes of commodities that require arrangements in advance with carriers.
Products whose technology is from a recognized high technology field, represent leading edge technology in that field; and constitute a significant part of all items covered in the selected classification code.
A form of letter that relates or acknowledges a certain activity or result with regard to a customer's relations with a bank.
A letter of credit whose terms and conditions have been confirmed by a bank.
The bank which receives a letter of credit or amendment to a letter of credit from the issuing bank and forwards it to the beneficiary.
A U.S. government interagency dispute resolution body that operates at the Assistant Secretary level.
A U.S. government group appointed by the President to provide advice on matters of trade policy and related issues, including trade agreements.
A business enterprise located in one country which is directly or indirectly owned or controlled by a person of another country.
Equivalent of the foreign parent or any foreign person associated with the foreign parent which is owned more than 50 percent by the person above it.
The hiring or chartering of all or part of a vessel for the transport of goods.
A contract with a ship owner to hire. all or part of a ship for transporting goods.
Refers to a shipment of cargo which is currently on board a vessel between ports (as opposed to on land).
Direction toward the stern of the vessel (ship or aircraft).
A notation used on financial instruments (such as drafts or bills of exchange) to fix the maturity date as a fixed number of days past the date of drawing of the draft.
A notation on a draft that indicates that payment is due a fixed number of days after the draft has be-en presented to the drawee.
A person or legal entity with the proper authorization to act on behalf of another person or legal entity.
A bank acting on behalf of a foreign bank.
Several shipments from various shippers that are consolidated and treated as a single consignment.
The set value of a shipping load that is agreed upon by both the shipper and the carrier to define rate and/or liability.
Automated Information Exchange System: A module of ACS which provides an automated method of exchanging information between Field Import Specialist and National Import Specialists.
Property of any kind that is transported by aircraft (excluding passenger baggage).
Expedited air freight service.
Term used to describe priority mail, consisting of first class mail which weighs more than 13 ounces.
Shipping document used for the transportation of air freight: includes conditions, liability, shipping instructions, description of commodity, and applicable transportation charges.
Ability to be transferred or conveyed.
A fractional share.
Any aircraft that is used for the sole purpose of transporting cargo.
An amount paid by the seller as restitution or reimbursement if the receiving party was dissatisfied with the shipment for any number of reasons: faulty packaging, late arrival, etc.
A tariff with two or more rates for the same goods, to and from the same points, with the discretion to use the lowest of the charges.
An addition, deletion, or change in a document.
In the middle of the vessel; often preferred by shippers because of the minimal motion and the benefits to fragile freight.
The gradual diminishment of any amount over a period of time.
Automated Manifest System: A module of ACS designed to control imported merchandise from the time a carrier's cargo manifest is electronically transmitted to US Customs until control is relinquished to another ACS module.
The opposite of dumping as defined by the system of laws to remedy dumping.
A cargo rating that applies to an article without consideration of weight.
An increase in the value of one form of currency as compared to the currency of another nation.
An accessory connected to a primary property used in conjunction with the primary property; usually permanently affixed (i.e. a crane on a ship).
Area of the airport where planes are parked for loading and unloading.
Imported goods which have been placed in a bonded warehouse for which duty has not been paid.
Indicates goods for sale do not include a warranty or guarantee.
A service under which an airline combines multiple shipments from multiple shippers into one shipment to one receiver.
The placement of antidumping duties on imported goods.
Across a vessel form side to side.
Established by an amendment to the Trade Act to set up an advisory committee to the U.S. Department of Commerce for dealing with U.S.-Japan trade issues involving the auto parts industry.
The legal cancellation of a contract because an event occurs that makes performance of the contract terms impossible or inequitable and that releases the parties from their obligations.
To haul a shipment back over part of a route which it has traveled.
That portion of an order that cannot be delivered at the scheduled time, but will be delivered at a later date when available.
The process whereby a bank brings together a borrower and a lender so that they agree on a loan contract.
Operations whereby a loan is made in one currency in one country against a loan in another currency in another country.
The intent to mislead or deceive. It does not include misleading by an honest, inadvertent or uncalled-for misstatement.
Goods shipped in sacks.
A delivery of goods or personal property by one person (the bailer) to another (the bailee) on an express or implied contract and for a particular purpose related to the goods while in possession of the bailee, who has a duty to redeliver them to the bail.
A statement identifying all the economic and financial transactions between companies, banks, private households and public authorities of one nation with those of other nations of the world over a specific time period.
The difference between a country's imports and exports.
A condition of national finances in which imports and exports are equal.
A large bundle of compressed and bound goods, such as cotton.
Bulky cargo shipped in bales, usually of burlap.
Heavy material placed on a ship to improve its stability.
A check drawn by one bank against funds deposited to its account in another bank.
Unilateral contract in which the bank commits itself to pay a certain sum if a third party fails to perform or if any other form of default occurs.
Any company which directly controls, with power to vote, more than five percent of voting shares of one or more other banks.
A day on which banks are closed.
Paper issued by a bank, redeemable as money and considered to be full legal tender.
A document issued by a bank, after it has been paid or given an acceptance, giving authority to a person to take delivery of goods.
A bank that is established by mutual consent by independent and unaffiliated banks to provide a clearinghouse for financial transactions.
A draft payable on demand and drawn by, or on behalf of, a bank upon itself.
The condition of a legal entity that does not have the financial means to pay their incurred debts as they come due.
The charter of a vessel where the character party has the right to use his own master and crew on the vessel.
A flat bottomed cargo vessel primarily used on rivers and canals.
The intentional misconduct of the ship's master or crew; includes theft, intentional casting away of vessel, or breach of trust.
Trade of goods for other goods without the use of money or a third party.
A location which is used to determine rates between other points.
A rate which is used for the sole purpose of determining other rates.
A means of establishing value for a composite unit consisting of the currencies of designated nations.
The protruding fixtures of the inside walls of a vessel's hold which keep cargo away from the walls of the vessel.
The person in possession.
A course of action through which a country tries to reduce unemployment and increase domestic output by raising tariffs and instituting non-tariff barriers that impede imports.
Compartments beneath the cabin of an aircraft used for the transport of cargo or baggage.
An individual or company who gains upon the opening of a letter of credit.
The place beside a docking area where the ship is secured and cargo can be loaded or unloaded.
Guarantee established in connection with international tenders. Guarantees fulfillment of the offer.
A treaty between two countries with the goals of ensuring investments abroad of national or most favored nation treatment.
The commerce between two countries.
A written statement of contract terms.
A written statement that authorizes the recipient to receive or collect money from a foreign correspondent.
A certificate issued by customs declaring the proper health of crew or passengers of a vessel or airplane upon arrival or departure from port.
A document issued by a carrier to a shipper that provides written evidence regarding receipt of the goods, the conditions on which transportation is made, and the engagement to deliver goods at the prescribed destination to the lawful holder of the bill of lading.
A statement sent with a shipment that gives descriptions and prices for included items; often referred to as a packing slip.
A written document by which a party legally transfers ownership of goods to another party.
A Customs document which allows a party to see the goods before they pay duties on them.
Refers to the party designated on a bill of lading as the one responsible for payment of the freight charges.
The designated weight shown on the freight bill.
The transference of transportation charges to a party other than the shipper or consignee.
A biologically active material.
Buying or selling of products that violate government restrictions.
A special single rate applied to multiple articles in a single shipment.
Prevention of commercial exchange by physically preventing carriers from entering a specific port or nation.
In or with good faith, honesty, and sincerity.
An interest-bearing certificate of debt by which the issuer is obligated to pay the principal amount at a specific time and interest periodically.
An agreement made with a carrier that relieves them of any liability incurred under stated conditions.
A computerized bond control system (part of ACS).
Goods stored by customs until the import duties are paid or the goods are exported.
An airline terminal approved by the U.S. Treasury Department for storage of goods until Customs duties are paid or released.
An approved warehouse used for the storage of goods until duties are paid or the goods are properly released.
The act of recording arrangements for the movement of goods by vessel.
Government payments to producers to strengthen their competitive position.
Colloquial term referring to a trailer, semi-trailer, or container.
A closed freight car.
Refusing to deal commercially with a person, firm, or country.
In marine insurance, "breakage" refers to breakage of fragile goods such as glass and china and is excluded from coverage, unless the policy specifically covers breakage.
Unloading or distributing portions of a consolidated shipment for delivery.
Cargo that is shipped as a unit but not containerized.
A payment that results in a benefit that would not have been received except for receipt of that money; a bribe is a criminal offense.
One that acts as an agent for others, as in negotiating contracts, purchases, or sales in return for a fee or commission.
Cargo that is made up of one commodity; examples include grain, oil, and ore.
A vessel designed for the shipment of bulk cargo.
Freight not in packages or containers.
The transfer of a large amount of inventory in a single transaction not in the usual course of business.
Dry cargo shipped loose in containers.
A compartment on a ship for storage or fuel.
An adjustment in shipping charges to offset price fluctuations in the cost of bunker fuel.
The fuel used to power a ship.
An agency of the U.S. Department of Treasury which regulates the alcohol, firearms and explosives industry, ensure the collection of federal taxes imposed on alcohol and tobacco, investigates violations of federal firearms, explosives and tobacco laws.
A U.S. government agency responsible for control of exports for reasons of national security, foreign policy and short supply.
U.S. federal and state government statutes that give a preference to U.S. produced goods in government contracts.
Coast-wide water transportation, navigation or trade between ports of a nation.
A demand of payment on a loan, often because of failure on the part of the borrower to comply with conditions of the loan.
Currency lent by banks on a very short-term basis, which can be called the same day, at one day's notice or at two days' notice.
Legal competency to make a contract.
Manufactured goods that are productive industrial use.
The market for buying and selling long term loans, in the form of bonds, mortgages, etc.
A document prepared by the captain of a vessel upon arrival in port that notes any unusual conditions encountered during the voyage; relieves the ship owner of liability.
Merchandise hauled by transpiration lines.
An agent appointed by an airline shipping line to solicit and process international air and ocean freight for shipments.
A list of a ship's cargo or passengers but without a listing of charges.
An ACS module which is used to sort high risk cargo from low risk cargo and to determine the type of examination required.
The weight of a shipment or of ship's total cargo expressed in tons.
A customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries (for display, demonstration, or similar purposes) without paying duties or posting bonds.
A U.S. law which, among other provisions, establishes statutory responsibility for the carrier's liability for certain types of damage.
A legal entity that is in the business of transporting passengers or goods for hire.
A document issued by the shipping company which certifies the ownership of the goods to a named individual.
A ground service which provides transport and delivery of freight in areas not directly served by air or ocean.
A collection of independent producers formed to regulate production, pricing, and marketing of members to maximize market power and limit competition.
A major casualty that is usually accidental, such as flood or shipwreck.
Groupings of controlled products.
The purchaser buys at his own risk.
Customs Electronic Bulletin Board: An electronic bulletin board sponsored by US Customs which provides the trade community with up-to-date information, requirements, and operation instructions.
The on board storage space for one shipping container on a ship.
An ACS module that captures US Bureau of Census data.
An institution with the sole right to issue bank notes and power to dictate the monetary policy for a currency zone.
A certificate issued by an independent third party verifying the condition of cargo (or of other property).
A document certifying that the manufacture of goods is complete and the goods are now at the disposal of the buyer.
A document stating the weight of a shipment.
Official proof of authenticity.
A surrender of goods.
The weight of a shipment used in determining freight charges.
Temporary hiring of an aircraft for the transportation of cargo or passengers.
A ship leased by its owner for a stated time, voyage, or voyages.
A special trailer or undercarriage on which containers are moved over the road.
A service provided by some airlines that involves transporting cargo to in town terminals at lower rates than charged for door to door delivery.
A demand of payment of money or property.
The categorization of merchandise.
A notation on the bill of lading which denotes a deficient condition of the goods or packaging.
"A bill of lading received by the carrier for goods delivered in "apparent good order and condition."
The completion of customs entry requirements which results in the release of goods to the importer.
A credit transaction with a fixed amount of time for repayment.
Trade between ports of one nation.
An agreement that puts upper and lower limits on the interest rate of an agreement that is binding even if the market rate falls outside of this range.
Transportation practice where the receiver of the goods pays the charges.
A service where the purchase price of a good is collected by the carrier upon delivery of the shipment and subsequently paid to the shipper.
The presentation for payment of an obligation and the payment thereof.
All the documents given to the buyer in order to receive payments for a shipment; includes invoices, bills of lading, etc.
An ACS module that controls and accounts for payments collected by the US Customs Service.
An aircraft capable of transporting both cargo and passengers on the same flight.
A bill of lading covering a shipment of goods by more than one mode of transportation.
Consignment sent by means of various modes of transport.
Courtesy, respect, and good will.
An economic system where decisions about resources are made by a central government authority.
A bank that specializes in accepting demand deposits and granting loans.
A document which identifies the seller and buyer of a shipment; also includes invoice number, date, shipping date, mode of transport, delivery and payment terms, and description of goods.
An instrument by which a bank lends its credit to a customer to enable him to finance the purchase of goods.
Embassy officials who assist businesses through arranging appointments with local business and government officials and providing counsel on local trade regulations, laws, and customs.
Negotiable instruments used in commerce.
The primary documents required to ship goods; usually includes an invoice, bill of lading, bill of exchange, and certificate of insurance.
An agreement between two or more countries that establishes the conditions under which business may be contracted.
The packing or mingling of various goods subject to different rates of duty so that the value of each class of goods cannot be readily determined.
The amount paid to an agent for their role in the completion of a transaction involving the sale of goods or services.
The system of identifying a commodity by a certain number to determine its commodity rate for transport.
The rate applicable to shipping a given commodity between points.
A location serviced by two or more transportation lines.
A form of countertrade where any combination of goods and services are bartered.
Rate determined by one transportation line to compete with the rate of another transportation line.
Imports of raw materials or products that a country does not internally possess or produce.
An agent in a foreign country employed by a domestic businessman to facilitate transactions with local businesses within the foreign country.
Damage to the contents of a package which is not apparent from the condition of the exterior.
Damage, loss, or shortage of goods within a package which is not apparent from its exterior condition.
A carrier which has direct physical connection with another carrier or forms a connecting link between two or more carriers.
The person or firm named in a freight contract to whom goods have been shipped or turned over for care.
Delivery of merchandise from an exporter to an agent for sale by the agent, credited to the exporters account, with a commission earned by the agent.
The entity that ships goods to another for care; the exporter in a consignment relationship.
A shipping container that contains cargo from numerous shippers for delivery to numerous consignees.
The combining of smaller shipments from a central location into a single shipment that is sent to a destination point at a lower shipping rate.
A company that provides consolidation services.
An invoice covering the shipment of goods certified by the counsel of the country for which the merchandise is destined.
The offices representing the commercial interests of one country located within the borders of another country.
Any goods produced for the expressed use of individuals rather than the production or manufacturing of other goods.
A customs entry where the importer pays the applicable dues and the goods are released from customs custody.
"A single rigid, sealed, reusable metal "box" in which merchandise is shipped by vessel, truck, or rail."
Charge made for the packing or unpacking of cargo from ocean freight containers.
A shipment of cargo that according to weight or volume, will fit any number of standard containers.
A container without wheels put on railcars for transport.
A shipment of cargo that according to weight or volume, will not fit into any number of standard containers.
An ocean going vessel designed specifically to handle the loading, storage and removal of freight containers.
Any product that a nation has labeled as unsuitable to possess, produce, or transport.
Excluding common carriers, any person who under special contract will transport passengers or goods for agreed upon compensation.
Ease of exchanging one currency for that of another nation or for gold.
The basic level of inflation over a period of time as opposed to temporary fluctuations.
The practice of exporting banned or out of date goods to a foreign market where restrictions on that product are not as severe.
A pricing method where the purchaser agrees to pay the production cost of the good plus a fixed percentage to the seller for profit.
The country from which a ship or shipment has or is scheduled to depart.
The country that is the ultimate destination for a ship or shipment of goods.
The country from which cargo was shipped.
The country where the goods are to be consumed, further processed, or manufactured, as known to the shipper at the time of exportation.
Usually, the country in which the merchandise was manufactured and produced and from where it was first exported.
The country where merchandise was grown, mined or manufactured.
The financial risks of a transaction which relate to the political, economic, or social instability of a country.
Attendant who accompanies shipments.
A bill of lading issued by American warehouses as a receipt for goods stored.
A government authority designated to regulate the flow of goods to/from a country and to collect duties levied upon imports and exports.
Countervailing duties which are accessed when bounties or grants are paid or bestowed on merchandise exported to the US from a foreign country with material injury to a US industry.
Money compensation for loss or damage.
Goods which are capable of posing a health or safety risk when transported by air.
A draft which matures a specified number of days after the date it is issued, without regard to the date of acceptance.
Extended credit terms granted by the seller to induce buyers to receive goods in advance of required delivery dates.
The maximum carrying capacity of a ship.
An individual or firm who acts as principal in the sale of merchandise.
Swap arranged by private conservation group to use the proceeds of debt conversions to finance conservation projects relating to park land or tropical forests.
A nation that is owed less foreign currency obligations than it owes other nations.
Cargo that is shipped on the deck of a vessel rather than in holds below.
The value of goods declared to the carrier by the shipper for the purposes of determining charges.
The selling price of a shipment or the replacement cost is the goods are not for resale.
A valuation of merchandise that is the resale price of imported merchandise in United States with deductions for certain items.
Air freight with less urgency, delivered over a period of days.
A letter of credit that allows the buyer to take possession of goods by agreeing to pay the issuing bank at a fixed future date.
Risk that a counterparty is either unable or unwilling to fulfill his payment obligations.
The act of transferring physical possession.
The transport carrier whose responsibility it is to place a shipment at the disposal of the buyer.
Specific delivery instructions for the freight forwarder or carrier stating exactly where the goods are to be delivered, the deadline, and a contact person should problems arise.
A document from the consignee, shipper, or owner of freight ordering the delivery of freight to another party.
A lease of property; a demise charter is a bareboat charter.
The detention of a freight car or ship beyond time permitted for loading or unloading.
The place to which a shipment is consigned.
Delay in clearing goods through customs, usually resulting in storage fees and other charges.
The unloading of cargo from a container.
A term used to describe more industrialized nations.
A term used to describe countries that lack strong amounts of industrialization, infrastructure, and sophisticated technology.
An amount added to or deducted from a base shipping rate between two given locations to determine a new rate for another location.
The unloading of passengers or cargo from a vessel, vehicle, or aircraft.
The sale at less than original price value of a commodity or monetary instrument, often for immediate payment.
The preferential rates or privileges granted to some shippers but not to others under similar conditions.
An amount paid by a vessel's operator to a charter if loading or unloading is completed in less time than stipulated in the charter agreement.
A license that allows multiple exports of authorized commodities to foreign consignees approved in advance by the U.S. Bureau of Export Administration.
A service that accepts one shipment from a single shipper and at a point of destination, separates the shipment and distributes it to many receivers.
An agent who sells directly for a supplier and maintains an inventory of the supplier's products.
Any change in the billing of a shipment once it has been received by the carrier at point of origin and prior to delivery at destination.
Department of Commerce.
Loading or unloading platform at an industrial location or carrier terminal.
A U.S. Customs examination that requires be opened for a thorough inspection rather than just a visual one.
A receipt issued by a port officer that certifies that goods have been received by a shipper.
A piece of equipment with wheel used to move freight with or without a tractor.
Exports which were grown, produced, or manufactured in the United States.
The place where a draft or acceptance is made payable.
Shipping service from shipper's door to consignee's door.
A tariff schedule with two rates, one for preferred trading partners and one for imports from non-preferred trading countries.
The sale of products by a manufacturer below cost to a secondary producer in its domestic market where the product is then further processed and shipped to another country.
A refund of 99 percent of duties (and taxes) paid on imported merchandise which is immediately exported, subjected to manufacture or production and then exported,, or destroyed in the same condition as it was imported.
An ACS module that provides the means for processing and controlling all types of drawback entries.
A vehicle used to haul cargo or goods.
The charge made for hauling freight or carts, drays or trucks.
A shipment of goods from a manufacturer directly to a dealer or consumer, avoiding shipment to the wholesaler.
The delivery of a shipment by a shipper to a carrier for transportation.
A charge made by a transportation company for delivery of a container.
Cargo which does not require temperature controls.
A container designed to carry any of a number of free flowing dry solids such as grain or sand.
Any shipping container designed to transport goods other than liquids.
The existence of two or more exchange rates for a single currency.
The selling of identical products in different markets for different prices.
The sale of a commodity in a foreign market at less than fair value, usually considered to be a price lower than that at which it is sold within the exporting country or to third countries.
Materials placed around cargo to prevent breakage or movement.
Any product which is not consumed through use.
Items listed in a country's tariff schedule for which it charges import duty.
A tax levied by a government on the import, export, or consumption of goods.
A right to use another person's property.
Banks that are subsidiaries either to bank holding companies or other banks established to engage in foreign business transactions.
Electronic Data Interchange.
A system of integrated communications, data management, and security services that allow business applications within different organizations to automatically interchange information.
System of transferring funds from one account to another using electronic pulses instead of paper.
A demonstration project that illustrates the electronic transmission of fresh meat health certificates.
Electronic Visa Information System: An electronic data prototype which provides information on non-US issued textile visas.
A prohibition upon exports or imports with respect to specific products or specific countries.
In transit (referring to goods, passengers, or vessels).
An intermediary storage facility where goods are kept temporarily for distribution.
The import and export of goods without the further processing of the goods. Usually refers to a party that buys and sells as a middleman.
A statement of the kinds, quantities, and values of goods imported together with duties due and declared before a customs officer.
The documents required to secure the release of imported merchandise.
Documentation which is necessary to enable US Customs to assess duties, collect statistics, and determine whether other requirements of law or regulations are met upon importation.
An ACS module that automates the entry processing cycle.
An independent agency in the executive branch whose mandate is to control and abate pollution in the areas of air, water, solid waste, pesticides, radiation, and toxic substances.
Money allotted to the customer if the goods are picked up at a destination other than the one named on the bill of lading.
A provision in a bilateral or multilateral commercial agreement permitting a signatory nation to temporarily violate their obligations when imports threaten serious harm to the producers of competitive domestic goods.
The expected date and time of arrival.
The expected date and time of departure.
A bond issued in a foreign currency, different than the one in which the bond is sold.
A sale term where the buyer gains ownership of goods when they leave the vendor's dock.
Shipping rates set higher because the commodity requires special handling and care (i.e. live animals).
The price of one currency expressed in terms of another.
A selective tax; sometimes referred to as a consumption tax.
A contractual clause that releases one party from liability in case of wrong doing by the other party involved.
A foreign exchange term for the last day that options can be executed; an expiration date.
To send or transport abroad merchandise, especially for sale or trade.
A firm that specializes in bringing buyers and sellers together for a fee but does not participate in the actual business transaction.
Retaining control over exports for statistical and strategic purposes.
A required customs document for exportation from the United States.
An order for the importing party to pay the seller for the exported goods.
A tax imposed on exports of some nations.
A government document which gives permission to export a specified quantity of a specified commodity.
A private firm that serves as the export department for several manufacturers and handles the exporting aspect of the business for a commission or salary.
A company that buys products directly from manufacturers, then packages and marks the merchandise for resale under its own name.
Industrial parks designated by a government to provide tax and other incentives to export firms.
Specific restrictions on the value or volume of exports from a nation.
Restrictions as to the number of exports that are allotted for certain foreign markets.
The statistics that contain the total volume or value of all exports leaving the United States.
Government payments to induce exportation by domestic producers.
A corporation organized for the principal purpose of exporting goods and services.
An individual or company that transports goods or merchandise from one country to another in the course of trade.
An identification number required on the Shipper's Export Declaration for all export shipments.
The purchasing power of a currency abroad, converted using the exchange rate.
The return of an alleged criminal from one country to the country that has jurisdiction.
Any program designed to expedite the flow of international commerce.
An agent who receives merchandise under a consignment or bailment contract, who sells it for the principal or in the factor's own name, and who is paid a commission for each sale.
The right of a factor to retain the principal's merchandise until the factor receives full compensation from the principal.
The commission or other compensation paid to a factor.
The weighted average of a product's domestic market prices.
Food And Drug Administration.
The central banking system of the United States; coordinator of monetary policy.
A vessel which is used to connect to a line vessel which directly services a port.
Forty foot equivalent units (Two 20 ft containers = 1 FEU).
A document which has monetary value or is evidence of a transaction.
Market for the exchange of capital and credit in an economy; it is divided into money markets and capital markets.
Western, industrialized, non-communist countries.
Term used to describe the emerging economies of Hong Kong, Singapore, South Korea, Taiwan, and Thailand.
Charges which do not increase or decrease with a change in volume.
An administratively fixed exchange rate where no rate fluctuations are possible.
Establishing of the official exchange rate of a domestic currency against other negotiable currencies.
A reference to the country or registry of a vessel.
The national flag flown by a ship that is registered in a country other than that of its owners.
The movement of capital to avoid loss or increase gain.
Free determination of exchange rates based on supply and demand with no intervention on the part of the central bank.
Floating debris or wreckage of a ship and its cargo.
A superior or irresistible force, such as an "Act of God", that makes it impossible to perform a contract.
An international bond denominated in the currency of the country where it is issued.
Trade between individuals or legal entities in different countries.
The currency of any foreign country which is the authorized medium of circulation.
A contract for the sale or purchase of foreign exchange specifying an exchange rate and delivery date.
The price of one currency in terms of another.
The U.S. export of foreign merchandise consisting of foreign commodities and goods in Customs bonded warehouses.
A reference to a carrier not registered in a country but flies that country's flag.
Income earned by Americans from work performed in another country.
The purchase of assets from abroad.
The price at which merchandise is sold in the principal markets of the country from which it is exported.
The first foreign person or entity outside the United States in an affiliates's ownership chain that has direct investment in the affiliate.
A person who resides outside of the United States or is subject to the jurisdiction of a country other than the United States.
The transfer of any monetary instrument across national boundaries.
An agreement to purchase foreign currency at a future date at a predetermined rate.
A receipt for goods with the indication that they were received damaged or short in quantity.
Any currency that is smaller than a standard money unit.
Free from duties, transportation charges and other levies.
Term to describe when the shipper pays all the transportation charges and applicable duties.
A pricing term indicating that the loading charges are for the account of the supplier.
A pricing term indicating that the vessel operator is responsible for the cost of loading and unloading.
A statement of items that are not liable to the payment of duties.
Unrestricted movement of items in and out of a market, unhampered by the existence of tariffs or other trade barriers.
A pricing term indicating that unloading charges are for the account of the receiver.
An area where imported goods may be brought without payment of duties.
The time allowed shippers and receivers to load or unload cars before demurrage or detention.
An area within a country (a seaport, airport, warehouse or any designated area) regarded as being outside its customs territory where importers may bring goods of foreign origin without paying customs duties and taxes, pending their eventual processing, transshipment or re-exportation.
A shipment dropped off at the wrong location is forward to the proper location free of charge.
All merchandise, goods, products, or commodities shipped by rail, air, road, or water, other than baggage, express mail, or regular mail.
The charge assessed for transporting freight.
A demand upon a carrier for the payment of overcharge or loss or damage sustained by shipper or consignee.
A ship or airplane used primarily to carry freight.
Goods that are identical with other goods of the same nature.
A contract for the future delivery of a specified commodity, currency or security on a specific date at a rate determined in the present.
A group of stevedores under a supervisor who are assigned to load or unload a portion of a vessel.
The opening through which a ship is boarded.
A specialized machine for the raising or lowering of cargo mounted on a structure spanning an open space on a ship.
A major airport or seaport; or the port where customs clearance takes place; or a point at which freight moving from one territory to another is interchanged between transportation lines.
General Agreement on Tariffs and Trade.
Bond issued on the Japanese market in currencies other than yen.
Both a multilateral trade agreement aimed at expanding international trade and the organization which oversees the agreement. The main goals of GATT are to liberalize world trade and place it on a secure basis thereby contributing to economic growth and development and the welfare of the world's people.
An internationally accepted rule of the sea which says when a peril threatens the survival of the ship, there may be sacrificed (thrown overboard) any cargo or supplies or ships' furnishings, and any expense incurred necessary to save the ship. If the vessel is saved, all cargo owners, ship owner, and owners of the freight revenue share pro rata in the loss.
The rate a carrier charges for the shipment of cargo which does not have a special class rate or commodity rate.
A vessel designed to handle breakbulk cargo such as bags, cartons, cases, crates and drums, either individually or in unitized or palletized loads.
A freight rate applicable to all commodities except those for which specific rates have been filed.
The total physical arrivals of merchandise from foreign countries, whether such merchandise enters consumption channels immediately or is entered into bonded warehouses or Foreign Trade Zones under U.S. Customs custody.
Unlimited responsibility for an obligation, such as payment of debts of a business.
Authorized licenses by the U.S. Bureau of Export Administration that permit the export of non-strategic goods to specified countries without the need for a validated license.
Merchandise not entered within 5 working days after arrival of the carrier and stored at the expense of the importer.
Warehouse where customs sends merchandise that has not been claimed within 5 days of arrival.
A partnership where all partners have joint ownership and liability.
A tariff that applies to countries that do not enjoy either preferential or most favored nation tariff treatment.
A program providing for free rates of duty for merchandise from beneficiary developing independent countries and territories to encourage their economic growth.
Government Information Technology Services Working Groups.
A bond that can be traded immediately in any United States capital market and in the Euromarket.
A quota on the total imports of a product from all countries.
An international monetary agreement according to which money consists of fiat national currencies that can be converted into gold at established price ratios.
Gold, retained by a nation's monetary agency, forming the backing of currency that the nation has issued.
A monetary agreement whereby all national currencies 100 percent by gold and the gold is utilized for payments of foreign activity.
An open railway car with sides and ends, used principally for hauling coal, sand, etc.
Merchandise, supplies, raw materials, and completed products.
A corporation to which the privilege of establishing, operating, or maintaining a foreign trade zone has been given.
An identity card (visa) issued by the U.S. Immigration and Naturalization Service entitling a foreign national to enter and reside in the United States as a permanent resident.
A list of disreputable end users in nations of concern for missile proliferation from the U.S. intelligence community.
Fixed margin within which exchange rates are allowed to fluctuate.
12 dozen or 144 articles.
A measure of the market value of all goods and services produced within the boundaries of a nation.
A measure of the market value of all goods and services produced by the labor and property of a nation.
The full weight of a shipment, including goods and packaging.
An impression made on gold and silverware introduced in the beginning of the fourteenth century in England to identify the quality of the metal used.
Charges assessed to users for use of a harbor, used generally for maintenance of the harbor.
An officer who attends to the berthing, etc. of ships in a harbor.
A foreign loan that must be paid in hard money.
Currency of a nation having stability in the country and abroad.
A multipurpose international goods classification system designed to be used by manufacturers, transporters, exporters, importers, customs, statisticians, and others in classifying goods moving in international trade under a single commodity code.
An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports.
Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in proper condition.
The opening in the deck of a vessel witch gives access to the, cargo hold.
The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage.
A substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated.
Articles too heavy to be lifted by a ship's tackle.
A charge made for lifting articles too heavy to be lifted by a ship's tackle.
A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo.
To offset.
The amount of an underlying instrument or the number of options which are needed to hedge a covered option.
The compression of flat or standard bales of cotton to high density of approximately 32 pounds.
The combination of portions of a shipment with different geographical regions that move under one bill of lading from shipper to consignee.
The space below deck in a vessel used to carry cargo.
Freight to be held at the carrier's destination location for pickup by the recipient.
An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability.
To pay or to accept a draft complying with the terms of credit.
An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers.
A bill of lading issued by a freight forwarder for consolidated air freight shipments.
A term usually used to indicate a container yard to container yard shipment.
Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system.
The outer shell of a vessel.
"That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down the other side by gravity."
Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment as opposed to rating on a per package basis.
Used by U.S. Customs in establishing the customs value of merchandise exported to the United States, identical merchandise is merchandise that is: (1) Identical in all respects to the merchandise being appraised, (2) Produced in the same country as the merchandise being appraised, and (3) Produced by the same person as the merchandise being appraised.
An alternate U.S. Customs entry procedure which provides for immediate release of a shipment in certain cases.
A form of U.S. Customs entry which allows imported merchandise to be forwarded from the port of original entry to another final destination for customs clearance.
The entry of foreign nationals into a country for the purpose of establishing permanent residence.
Certain implied conditions are not written into marine insurance policies, but they are so basic to understanding between underwriter and the assured that the law gives them much the same effect as if written. (In many other types of contracts there also may be "implied conditions". For example, a seller of goods implies that they are fit for the purpose they purport to serve.
To bring in (goods or services) from a foreign country for trade or sale.
A commercial letter of credit issued for the purpose of financing the importation of goods.
Any tax on items imported.
A document required and issued by some national governments authorizing the importation of goods.
A protective ruling establishing limits on the quantity of a particular product that can be imported.
The process of auctioning the right to import specified quantities of quota-restricted goods.
Any of several measures imposed by a government to temporally restrict imports of a product or commodity to protect domestic producers from competition.
Any one of a series of tariff and non-tariff barriers imposed by an importing nation to control the volume of goods coming into the country from other countries.
Domestic producers whose economic viability is threatened by competition (quality, price or service) from imported products.
A strategy which emphasizes the replacement of imports with domestically produced goods to encourage the development of domestic industry.
The individual, firm or legal entity that brings articles of trade from a foreign source into a domestic market in the course of trade.
An identification number assigned by the U.S. Customs Service to each importer to track entries and other transactions.
Commodities of foreign origin as well as goods of domestic origin returned to the producing country with no change in condition, or after having been processed and/or assembled in other countries.
The total of merchandise that has physically cleared through U.S. Customs either entering domestic consumption channels immediately or entering after withdrawal for consumption from bonded warehouses under U.S. Customs custody or from U.S. Foreign Trade Zones.
A tax, usually an import duty.
A reference book detailing specific requirements for importing 135 different product groups into the United States and other important information.
To seize or hold; or to place in protective custody by order of a court.
A procedure under which goods are transported or warehoused under customs supervision until they are either formally entered into the customs territory of the United States and duties paid, or until they are exported from the United States.
An import or export shipment which has not been cleared by U.S. Customs officials.
A part of U.S. Customs' Automated Commercial System, controls merchandise from the point of unloading at the port of entry or exportation.
A motivational force that stimulates people to greater activity or increased efficiency.
Money or its equivalent, earned or accrued, arising from the sale of goods or services.
A codification of international rules for the uniform interpretation of common contract clauses in export/import transactions.
To compensate for actual loss sustained.
An agreement to reimburse another individual or legal entity who incurs a loss that is covered by the agreement.
The right of a conference member to depart from the common freight rates, terms or conditions of the conference without the need for prior approval of the conference.
Borrowings in a foreign currency where the rate of interest is linked to an agreed scale.
Note denominated and paying interest in one currency but whose redemption value is linked to an exchange rate for another currency.
Written approval by the U.S. Department of Commerce to export a specified quantity or good to a single recipient.
The Coordinating Committee for Multilateral Export Controls industrial list contains dual-use items whose export are controlled for strategic reasons.
Encompasses traditional government policies intended to provide a favorable economic climate for the development of industry in general or specific industrial sectors.
"The view that "temporary protection" for a new industry or firm in a particular country through tariff and non-tariff barriers to imports can help it to become established and eventually competitive in world markets."
Loss of purchasing power of money caused by growth of the amount of money in circulation.
A simplified import entry procedure accepted at the option of Customs for any baggage or commercial shipment that does not exceed $1000.
A term that describes the improved ability of a entity (such as a company) to comply with Federal rules and regulations through easy access to up-to-date information.
The basic structure of a nation's economy.
The inherent physical properties of goods which may cause them to suffer deterioration or damage without outside influence. (For example: spontaneous combustion.)
A finding by the U.S. International Trade Commission that an import is causing harm or going to cause harm to a U.S. industry.
A bill of lading used in transporting goods overland to the exporter's international carrier.
A transportation line which hauls import/export traffic between ports and inland points.
A document confirming that goods have been inspected for conformity.
Any written document that gives formal expression to a legal agreement or act.
A blend of all segments of the cargo system providing the combined services of carrier, forwarder, handlers, and agents.
Carriers that have multiple varieties of fleets (i.e. air and ground, truck and rail, etc.).
An original piece of work that can be copyrighted or trade marked to confirm ownership.
Dealings between the banks.
An agreement that specifically lays out the terms of leasing equipment from a carrier.
A location where one carrier delivers freight to another carrier.
The movement of a single shipment in two or more carriers.
The capability of a shipment of goods to be transported from one form of transportation to another.
Coordinated transport of freight using multiple methods of transportation.
The business of buying and selling commodities outside of national boarders.
A proposed electronic system that would integrate the different government trade and transportation data processes into a system that provides a standard means of gathering, processing, storing and disseminating import and export trade data. See IT06.
A common carrier whose business extends beyond the boundaries of one state.
Trade between or among several states of the United States; includes facsimile across state lines or transport by rail and roads.
Government regulations that do not directly restrict trade but hinder imports with excessive and obscure requirements.
The balance of trade created by the import and export of services.
A document identifying the buyer and seller; includes all relevant information such as number, date, shipping date, mode of transport, etc.
A U.S. Customs mandated document requiring the complete listing by bill of lading numbers of an arriving ship's freight being imported into the United States.
A letter of credit which cannot be amended or canceled without prior mutual consent of all parties to the credit.
The establishment of a letter of credit by the issuing bank based on the buyer's application and credit relationship with the bank.
The date of shipment or loading on board of goods.
An initiative calling for the development of an international trade data system sponsored by the US Government that will meet the needs of Federal agencies involved in international trade as well as the trade information needs of businesses and the general public.
Articles from a ship or ship's cargo which are thrown overboard, usually to lighten the load in times of emergency or distress and that sinks or is washed ashore.
The act of throwing overboard at sea part of a vessel's paraphernalia or cargo or hull - usually in hopes of saving the ship from sinking.
Joint Industry Group.
A person having authority to transact business for two or more transportation lines.
Liability for damages imposed on two or more individuals or legal entities who are responsible together and individually, allowing the party harmed to seek full remedy against all or any number of the wrongdoers.
A single through-rate on cargo moving via two or more carriers.
An unincorporated business association with ownership interests represented by shares of stock.
A combination of two or more individuals or legal entities who undertake together a transaction for mutual gain or to engage in a commercial enterprise together with mutual sharing of profits and losses; or a form of business partnership involving joint management and the sharing of risks and profits as between enterprises based in different countries.
A statement signed by a person authorized to take oaths certifying to the authenticity of a document or affidavit.
Action intended to, and capable of having, a legal effect, such as the creation, termination, or modification of a legal right.
The principle of production and inventory control that prescribes precise controls for the movement of raw materials, component parts and work-in-progress. Goods arrive when needed for production for use rather than becoming expensive inventory that occupies costly warehouse space.
The charges paid by a ship entering or remaining in certain ports.
A major currency in the global economy. Key currencies include the U.S. dollar, the British pound sterling, the German mark, the Swiss franc, the French franc, the Dutch gilder, the Japanese yen and the Canadian dollar.
A small structure which incorporates a computer screen and input devices such as a keyboard or touch screen. Usually found in public places such as libraries or museums, it is used for the dissemination of information to the public.
An article taken apart and folded or telescoped in such a manner as to reduce its bulk at least 66 2/3 percent from its normal shipping cubage when set up or assembled.
An evident loss (as opposed to a concealed loss or damage to contents within a package). A loss of which the insured and/or the insurer is aware at the time the insurance is effected.
A term used to describe minimal governmental involvement in an economy, allowing market forces and individuals to make their own decisions, with little or no regulation.
The movement of containers from a foreign country by vessel, transiting a country by rail or truck, and then being loaded aboard another vessel for delivery to a second foreign country.
Federal legislation governing trademarks and other symbols for identifying goods sold in interstate commerce.
The period during which imported merchandise may remain at the place of unloading without some action being taken for its disposition.
Any individual, proprietorship, partnership, corporation, association, or other organization that has, in the eyes of the law, the capacity to make a contract or an agreement, and the abilities to assume an obligation and to discharge a indebtedness.
Any money that is recognized as being lawful for use by a debtor to pay a creditor, who must accept same in the discharge of a debt unless the contract between the parties specifically states that another type of money is to be used.
A shipment weighing less than the weight required for the application of the truck load rate.
A document with which the assignor assigns rights to a third party.
A document issued by a bank stating its commitment to pay someone a stated amount of money on behalf of a buyer so long as the seller meets very specific terms and conditions. Letters of credit are more formally called documentary letters of credit.
A document which serves to protect the carrier/owner financially against possible repercussions in connection with the release of goods without presentation of an original bill of lading.
A document that describes the preliminary understanding between parties who intend to make a contract or join together in another action.
A contract whereby the holder of a trademark, patent, or copyright transfers a limited right to use a process, sell or manufacture an article, or furnish specialized services covered by the trademark, patent or copyright to another firm.
A wooden or metal container used for packing household goods and personal effects.
A barge towed by a tugboat and used mainly in harbors and inland waterways for the transport of cargo.
A floatable large container (lighter) used in the combined ocean and inland waterway transport of goods.
The loading or unloading of a ship by means of a lighter, especially when shallow waters prevent an ocean going vessel from entering a waterway.
A maximum period set by statute within which a legal. action can be brought or a right enforced. A statute may prohibit, for example, any individual or legal entity from bringing an action for breach of contract more than one year after the breach occurred.
Persons appointed by to U.S. & Foreign Commercial Service (or to other foreign services) from the private sector or from the federal government who are non-career officers assigned overseas for a limited time.
Restricted liability for the obligations of a business.
A partnership in which at least one partner has general liability and at least one of the other partners has limited liability.
The direct movement of freight between two major ports by a single ship.
A vessel which is on a regularly defined schedule.
A part of the U.S. Customs' Automated Commercial System that is designed for the release and tracking of shipments through the use of personal computers and bar code technology.
A vessel carrying passengers and cargo that operates on a route with a fixed schedule.
Conditions under which a shipping company will transport goods, including the amount payable for freight and the cost both for loading and discharge of the vessel.
A sum of money that a contracting party agrees to pay to the other party for breaching an agreement, particularly important in a contract in which damages for breach may be difficult to assess.
The final review of a U.S. Customs entry, and determination of the rate of duty and amount of duty by Customs.
A part of U.S. Customs' Automated Commercial System, closes the file on each entry and establishes a batch filing number which is essential for recovering an entry for review or enforcement purposes.
(economics) (a) A company's ability to meet its obligations at all times. (b) The availability of liquid funds in an economy. (c) The possibility of being able to carry out financial transactions without influencing the market.
An English association of insurance underwriters, the oldest of its kind in the world. Not in itself an insurance company.
An English society, independent of Lloyds of London, which surveys and classifies the ships of the world according to their description, condition, seaworthiness, and compliance with codes and protocols. Also establishes standards for maintenance and construction. (Correct name is: Lloyds Register of Shipping.)
The physical placing of cargo into carrier's container, or onto a vessel.
A laborer who loads and unloads ships at a seaport.
A document, such as a written memorandum, that describes the preliminary understanding between parties who intend to make a contract or join together in another action, such as a joint venture or a corporate merger.
Labels attached to each piece of multiple lot shipment for identification purposes.
Carrier owned containers specially designed as an integral part of the aircraft to fit in the cargo compartments of a wide body aircraft.
The study of statistics of the economy as a whole rather than as single economic units.
A means of shipping and entering goods into the Customs Territory of the United States.
In bad faith; a seller's representation that goods are usable for a particular purpose when in fact the seller knows that the goods are not.
A document giving the description of a ship's cargo or the contents of a car or truck.
A program which allows foreign manufacturers to ship components into Mexico duty free for assembly and subsequent reexport.
The difference between the cost of sold items and the total net sales income.
The increase in the total cost of production that results from manufacturing one more unit of output.
Business pertaining to commerce or navigation by sea.
The openness of a national market to foreign products.
A situation where a surge of imports of a certain product causes a sharp decline in the domestic sales of that product and creates a hardship for domestic producers.
An economic system where resources are allocated and production of products determined by market forces rather than by government decree.
The price established in the market where buyers and sellers meet to buy and sell similar products.
The physical markings on a product that indicate the country of origin where the article was produced.
Information placed on outer surface of shipping containers or packages such as address labels, identifying numbers, box specifications, cautions, or directional warnings.
Bond issued on the Spanish market, denominated in currencies other than the peseta.
A declaration issued by an officer of a vessel in the name of the shipping company stating that certain goods have been received on board his vessel.
Terms in a contract that describe the goods, fix the price, and set the delivery date.
A cargo on which the transportation charge is assessed on the basis of measurement.
Any commodity which is widely accepted in payment for goods and services and in settlement of debts.
The duplicate copy of the bill of lading.
An informal record, document, or instrument that serves as the basis of a future contact.
Publications which contain rule and rate information extracted from official tariffs.
A letter of credit issued by the buyer himself with no commitment on the part of a bank.
The inland move from or to a port that has all arrangements made by the exporter.
The circulation of money through various sources, ending up where it started.
A landbridge movement in which cargo originating/destined to an inland point is railed or trucked to/from the water port for a shipment to/from a foreign country.
Originally Manufacture Identification Number: A data element used by Customs.
Movement of cargo from a port over water then over land to a port on an opposite coast.
The lowest rate applicable on each type of cargo service no matter how small the shipment.
The combining of concessional and market-rate export credit as an export promotion mechanism.
Customs Modernization and Informed Compliance Act: Passage 1992, HR 3935.
Any denomination of coin or paper currency of legal tender that passes freely as a medium of exchange; anything that is accepted in exchange for other things.
The increase in money supply by the central or commercial banks.
The market for short term financial instruments (i.e. commercial paper, treasury bills, discount notes).
Comprises the acceptance and relending of deposits on the money market.
The amount of domestic cash and deposit money available in an economy.
To secure a vessel to an anchor, buoy, or pier.
Charges assessed for mooring a vessel to a pier or wharf.
A non-discriminatory trade policy commitment on the part of one country to extend to another country the lowest tariff rate it applies to any other country.
The place where loaded or empty shipping containers are received or delivered by a motor carrier.
An international compact involving three or more parties.
Shipping which includes at least two modes of transport, such as shipping by rail and by sea.
A corporation having subsidiaries in more than one country.
North American Free Trade Agreement.
A nonprofit organization to act as the information provider, support clearinghouse forum, and advocate for those involved in exporting and servicing exporters.
A non-profit organization which serves as the trade organization of customs brokers and international freight forwarders in the U.S.
Restrictions placed on exports of U.S. goods and technology which would make a significant contribution to the military potential of another country and thus be detrimental to national security.
An electronic data base which contains international economic and export promotion information supplied by 15 U.S. governmental agencies.
National treatment affords foreign individuals and firms the same competitive opportunities, including market access, as are available to domestic parties.
Takeover by the government without compensation of a public or private activity.
National Customs Brokers and Forwarders Association of America.
Anything that can be sold or transferred to another for money or as payments of a debt.
Bill of lading transferred by endorsement.
A certificate issued by an approved warehouse that guarantees the existence and the grade of a commodity held in store.
Packed one within another.
Payment for goods sold usually within a short period of time with no deduction allowed from the invoice price.
The market value of the net output of goods and services produced by the nation's economy.
Price after all discounts, rebates, etc have been allowed.
The weight of goods without packaging.
A standard air waybill without identification of issuing carrier.
National Information Infrastructure Task Force.
Freight that has been booked to a ship, but has not physically arrived in time to be loaded to that ship.
A person commissioned by a state for a stipulated period to administer certain oaths and to attest and certify documents.
Address mentioned in the transport document to which the carrier is to give notice when goods are due to arrive.
Name and address of a party in the transport document to be notified by the shipping company of the arrival of a shipment.
National Performance Review.
National Trade Data Bank: A data base used as the central collection point for US government generated export promotion information..
Promotes the safe and effective use of nuclear energy through the exchange of information among technical experts, the sharing of analytical studies, and undertaking joint research and development projects by member countries.
A U. S. agency which regulates the transfer of nuclear facilities, materials and parts with uniquely nuclear applications.
A receipt for the cargo and a contract for transportation between a shipper and the ocean carrier.
A proposal that is made to a certain individual or legal entity to enter into a contract, that is definite in its terms, and that indicates the offer's intent to be bound by an acceptance.
An agency under the Bureau of Export Administration that administers export licenses.
An executive office of the President which evaluates, formulates and coordinates management procedures and program objectives within and among federal departments an agencies. It also controls the administration of the federal budget.
Financial flows to developing countries and multilateral institutions provided by official government agencies.
A reference to financial operations transacted outside the country in question.
Bank located outside the country in question.
Financial center where many of the financial institutions have little connection with that country's financial system; usually done for tax purposes.
A committed to export, experienced, larger scale firm with export sales volume in excess of 15%.
"Notation on a bill of lading indicating that the goods have been loaded on board of shipped on a named ship. In the case of received for shipment bills of lading, the following four parties are authorized to add this "on board" notation: (1) the carrier, (2) the carrier's agent, (3) the master of the ship, and (4) the master's agent."
Notation on a bill of lading which indicates that the goods have been loaded on the deck of the ship.
Bill of lading containing the notation that goods have been placed on deck.
Credit extended that is not supported by a note, mortgage, or other formal written evidence of indebtedness.
A shipping conference in which there are no restrictions upon membership other than ability and willingness to serve the trade.
An economy free of trade restrictions.
An agreement by which the buyer may purchase goods from a seller for a certain time without changes in the price or the contract terms.
A corporation that operates a foreign trade zone under the terms of an agreement with a foreign trade zone grantee.
A request to deliver, sell, receive, or purchase goods or services.
A bill of lading that states that goods are consigned to the order of the person named in the bill.
A bill of lading term to provide for surrender of the original bill of lading before freight is surrendered.
A forward purchase or sale of foreign exchange which is not offset by a corresponding spot transaction.
Spot purchase of foreign exchange and forward resale of the same currency against domestic currency.
Securities trading which takes place outside the normal exchanges.
Swap from settlement date until the following business day.
A document prepared by the shipper listing the kinds and qualities of merchandise in a particular shipment.
A platform with or without sides, on which a number of packages or pieces may be loaded to facilitate handling.
A device employing one or more vertical lift platforms for the mechanical loading or unloading of palletized freight at planeside.
A vehicle for the movement of loaded pallets between the aircraft and the freight terminal.
The loading and securing of a number of sacks, bags, boxes or drums on a pallet base.
The official fixed exchange rate between two currencies or between a currency and a specific weight of gold.
The free market price of one country's money in terms of the currency of another.
The market price of money in one national currency that is exchanged at the official rate for a specific amount in another national currency, or another commodity of value (gold, silver, etc.).
An airline service through which a shipper can consolidate a number of parcel post packages, with destination postage affixed by the shipper, for shipment as air freight to the postmaster at another city for subsequent delivery within local postal zones or beyond.
A bank in a major industrial country that sets up a subsidiary in a developing country.
Equality in amount or value.
A partial loss of cargo or hull which falls entirely upon the interest concerned. See also "General Average".
Oral expression. A parol contract is one that is verbal only and that has not been put into writing by the parties.
An unincorporated business owned and operated by two or more persons, who may have general or limited liability according to the agreement of the partnership.
A grant by law to an inventor of a device of the right to exclude other persons from making, using, or selling the device.
The requirement that a negotiable instrument be paid in the funds of the place from which it was originally issued.
The person or organization to whom a check or draft or note is made payable.
The party primarily responsible for the payment of the amount owned as evidenced by a given negotiable instrument.
The excess of the value of a nation's exports over its imports.
The charges assessed or action taken by customs in response to a violation of a customs-enforced regulation or law.
The proper fulfillment of a contract or obligation.
A hypothetical limit beyond which a reduction in tariff protection would cause serious injury to a domestic industry.
Freight subject to decay or deterioration.
Huge sums of money from oil-producing nations other than the United States or Great Britain.
A certificate issued by the U.S. Department of Agriculture indicating that a U.S. export shipment has been inspected and is free from harmful pests and plant diseases.
An optional service for the surface transport of shipments from shipper's door to originating carrier's terminal and from the terminal of destination to receiver's door.
An order from a broker to a carrier to pick up freight at a location.
Shipment of cargo by carrier from origin pier to discharge pier.
The transportation of truck trailers and containers on specially equipped railroad flat-cars.
Taking of property by stealth or clandestine theft, usually in small quantities.
A person whose occupation is to steer ships, particularly along a coast, or into and out of a harbor.
The horizontal line on the outside of a ship which represents the depth to which a vessel may be safely loaded; this mark must stay above the water surface.
The location at which a shipment is received by a transportation line from the shipper.
Represents service and rates for shipments in door-to-door service.
A harbor or haven where ships may anchor and discharge or receive cargo.
A charge made for services performed at ports.
The port at which a shipment is off loaded by a transportation line.
A port at which foreign goods are admitted into the receiving country.
The port, airport, or customs point from which an export shipment leaves a country for a voyage to a foreign country.
U.S. Customs clearance at inland airports to facilitate the procedures before they reach a gateway point.
In general, any foreign investment that is not direct investment is considered portfolio investment.
An inspection to determine that an exported strategic commodity is being used for the purposes for which its export was licensed.
A check bearing a date that has not yet arrived.
Checks that are conducted to determine that a request for a license to export a controlled commodity represents a legitimate order.
A creditor's right to be paid before other creditors of the same debtor.
1. The amount above a regular price, paid as incentive to do something.
2. The price of insurance protection for a specified risk for a specified period of time.
Comment: Meaning number 1 above correctly indicates that one meaning of "Premium" is something in addition to the regular price. In meaning number 2 above "Premium" is the price.
A notation on a shipping document indicating that shipping charges have already been paid by the shipper to the carrier.
The transportation trade practice under which the shipper pays transportation charges.
Subsidy or financial aid offered to specific growers, producers, or distributors, in accordance with governmental regulations to keep market prices from dropping below a certain minimum level.
Reserved air freight or air express service wherein shipments have a priority after mail and the small package services.
A business corporation with shares that are not traded among the general public.
The time required by the buyer to select a supplier and to place and obtain a commitment for specific quantities of materials at specified times.
Commodity groupings used for export control purposes.
A measurement of the efficiency of production.
A U.S. license which authorizes large-scale exports of a wide variety of commodities and technical data for specified activities.
A rate applying to traffic under special conditions and usually confined to movement between a limited number of cities.
Evidence that one party has turned over something (cargo) to another. Commonly, in transportation, a signed, dated acknowledgment of receipt.
A person who has an exclusive right or interest in property or in a business.
A business owned by one person.
The deliberate use or encouragement of restrictions on imports to enable relatively inefficient domestic producers to compete successfully with foreign producers.
Many airlines offer a protective service where shippers can arrange to have their shipments under carrier surveillance at each stage of transit.
A duty or tax on imported products to make them more expensive in comparison to domestic products.
The means by which an importer, consignee, or other designated party may challenge a customs decision.
A business corporation with shares traded among the general public, such as through a stock exchange.
The charges for a particular class of cargo as published in a carrier's tariff.
A purchaser's written offer to a supplier formally stating all terms and conditions of a proposed transaction.
Meetings involving trade ministers from the U.S., European Community, Canada, and Japan to discuss trade policy matters.
Explicit limits, or quotas, on the physical amounts of particular commodities that can be imported or exported during a specified time period, usually measured by volume but sometimes by value. The quota may be applied on a selective basis, with varying limits set according to the country of origin, or on a quantitative global basis that only specifies the total limit and thus tends to benefit more efficient suppliers.
The term during which an arriving ship or airplane, including its passengers, crew and cargo, suspected of carrying a contagious disease, is held in isolation to prevent the possible spread of the disease.
A structure built for the purpose of mooring a vessel; also called a pier.
A line or group of people waiting for service, such as a line of people waiting in a teller line at a bank; or paperwork in a stack waiting for processing; or items on a waiting list waiting for processing or repair.
A mutual consideration; securing an ad. vantage or receiving a concession in return for a similar favor.
A limitation on the quantity of goods that may be imported into a country from all countries or from specific countries during a set period of time.
A part of the U.S. Customs' Service Automated Commercial System, controls quota levels (quantities authorized) and quantities entered against those levels.
Freight document that indicates goods have been received for shipment by rail.
The amount of funds of one nation that can be bought, at a specific date, for a sum of currency of another country.
Rights in real estate or in items attached to real estate.
Simultaneous and mutually coordinated re- and devaluation of the currencies of several countries.
Any written acknowledgment of value received.
A bill of lading which confirms the receipt of goods by the carrier, but not their actual loading on board.
Paperwork that accompanies a shipment when it is brought to the dock.
An international agreement between two or more countries to establish mutual trade concessions that are expected to be of equal value.
The process by which governments extend similar concessions to each other.
A change in the name of the consignor; a change in the place of delivery; or relinquishment of shipment at point of origin.
A demand by U.S. Customs to return previously released goods to Customs custody for reexamination, reexport, or destruction.
A controlled temperature shipping container (usually refrigerated).
The export of imported goods without added value.
An amount returned to the consignor as a result of the carrier having collected charges in excess of the originally agreed upon charges.
A shipment that is transferred to its ultimate destination port after having been shipped to an intermediate point.
Funds forwarded from one person to another as payment for bought items or services.
In instances when the shipper has performed services incident to the transportation of goods, a carrier will collect payment for these services from the receiver and remit such payment to the shipper.
A legal action for recovering property brought by the owner or party entitled to repossess the property against a party who has wrongfully kept it.
A negotiating approach whereby the buyer asks for a price quotation from a potential seller for specific quantities of goods.
To cancel a contract.
A service by some airlines enabling shippers to reserve freight space on designated flights.
A letter of credit which is restricted to a bank specifically mentioned.
Actions in the private sector designed to restrict competition so as to keep prices relatively high.
Action taken by a country to restrain its imports from a country that has increased a tariff or imposed other measures that adversely affect its exports.
The restoration of the value of a nation's currency that had once been devalued in terms of the currency of another nation.
Tariff advantages once offered by developing countries to imports from certain developed countries that granted them preferences.
A letter of credit which is automatically restored to its full amount after the completion of each documentary exchange.
An asset or liability which is exposed to fluctuations in value through changes in exchange rates or interest rates.
Transport document that indicates goods have been received for shipment by road haulage carrier.
A category of ships designed to load and discharge cargo which rolls on wheels.
Any line of credit that can be borrowed against up to a stated credit limit and into which repayments go for crediting.
The course or direction that a shipment moves.
Compensation for the use of a person's property based on an agreed percentage of the income arising from its use.
A written document by which a seller agrees to convey property to a buyer for a stipulated price under specified conditions.
A tax placed by a state or municipality on items at the time of their purchase.
Compensation paid for the rescue of a ship, its cargo or passengers from a loss at sea; or the act of saving a ship or its cargo from possible loss; or property saved from a wreck or fire.
Bond issued on the Japanese market in yen outside Japan.
An embargo imposed against an individual country by the United Nations-or a group of nations-in an effort to influence its conduct or its policies.
A mark or sign that is used to witness and authenticate the signing of an instrument, contract, or other document.
The fitness or safety of a vessel for its intended use.
Guaranteed as to payment by the pledge of something valuable.
Property pledged as collateral.
The act of taking possession of property.
Exists when goods cannot easily be secured and when the economic forces of business tend to cause goods to be priced at the vendor's estimate of value.
Rate at which a bank is willing to sell foreign exchange or to lend money.
To pay interest due on a loan.
Pickup and/or delivery commitments agreed to by carrier and shipper.
The date on which payment for a transaction must be made.
A foreign sales corporation consisting of more than one and less than 25 unrelated exporters.
A list of the individual shipments constituting the ship's cargo.
The documents a ship must carry to meet the safety, health, immigration, commercial and customs requirements of a port of call or of international law.
The food, medical supplies, spare parts and other provisions carried for the day-to-day running of a vessel.
Cargo tendered by on shipper, on one bill of lading, from one point of departure, for one consignee, to one destination, at one time, via a single port of discharge.
A repository of information for each shipment that reflects all activity throughout each step of the shipment life cycle.
Annotation in a bill of lading that the goods have been shipped on the deck of a vessel.
The company or person who ships cargo to the consignee.
Instructions of shipper to carrier for forwarding of goods.
A bill of lading on which the detailed conditions of transportation are not listed in full.
The position of a foreign exchange trader who has sold more foreign bills than the quantity of bills he or she has in possession to cover sales.
Notation of a shipment's weight as less than noted on the original bill of lading, indicating loss during shipment.
A deficiency in quantity shipped.
A service designed to provide continuous responsibility for the custody of shipments in transit, so named because a signature is required from each person handling the shipment.
A contrivance into which freight is placed to be hoisted into or out of a ship.
A vessel's berth between two piers.
A specialized service to guarantee the delivery of small parcels within specified express time limits.
Conveying goods or persons across borders without permission.
The funds of a country that are controlled by exchange procedures, thereby having limited convertibility into gold and other currencies.
A loan made with easy or generous terms such as low or no interest and long payback.
A borrowing guaranteed by the government of a sovereign state.
The risk to a lender that the government of a sovereign state may default on its financial obligations.
Rates that apply to cargo traffic under special conditions and usually a limited number of cities.
Rate applicable to certain classes of commodities, usually commodities moving in volume shipments.
A specified amount of duty per unit of weight or other quantity.
Immediate cash payment in a transaction.
The purchase and sale of foreign exchange for delivery and payment at the time of the transaction.
The price of one currency expressed in terms of another currency at a given moment in time.
The market for a commodity or foreign exchange available for immediate delivery.
Foreign exchange dealing in which settlement of the mutual delivery commitments is made at the latest two days after the transaction was carried out.
A price quotation for immediate sale and delivery of a commodity or currency.
The rate for purchase or sale of a commodity for immediate delivery.
The placing of a container where required to be loaded or unloaded.
The level of material affluence of a nation as measured by per capita output.
A bank commitment to loan money up to a specified amount for a specific period, to be used only in a certain contingency.
An indemnity received by an ocean carrier issued by a bank indemnifying him for any loss incurred for release of goods to the original bill of lading.
A person having charge of the loading and unloading of ships in port.
The keeping of goods in a warehouse.
A charge made on property remaining on the dock past the prescribed "free-time period".
The stopping of freight traffic at a point located between the point of origin and destination to be stored and reforwarded at a later date.
The movement of goods to the consignee's place of business, customarily applied to movement by truck.
The arranging and packing of cargo in a vessel for shipment.
Specific instructions given by the shipper or his agent concerning the way in which cargo is to be stowed.
A diagram showing how cargo containers have been placed on a vessel; also know as stowage plan.
A nonnegotiable bill of lading that designates a consignee who is to receive the goods and obligates the carrier to deliver the goods to that consignee only.
Commodity groupings used for export control purposes.
An insurance clause which may be included in policies to cover against losses as a result of strikes, riots and civil commotions.
The unloading of cargo from a container; also called devanning.
The loading of cargo into a container.
Any organization more than 50 percent of whose voting stock is owned by another firm.
A grant paid by a government to producers of goods to strengthen their competitive position.
Assurances that importing countries will, in the future, have fair and equitable access at reasonable prices to supplies of raw materials and other essential imports.
A charge above the usual or customary charge.
A bond, guaranty, or other security that protects a person, corporation, or other legal entity in cases of anothers default in the payment of a given obligation, improper performance of a given contract, malfeasance of office, and others.
A report by an independent third party, generally a surveyor, who determines the condition of vessels, cargo, or property. (Often to support an insurance claim.)
Eurodollar bonds issued by Japanese corporations on the Japanese market for Japanese investors.
A spot purchase of foreign exchange, fixed or floating rate funds, or assets with simultaneous forward sale or vice versa.
A form of countertrade in which the seller sells on credit and then transfers the credit to a third party.
A list of individuals and firms which have been disbarred from shipping or receiving U.S. goods or technology. Firms and individuals on the list may be disbarred with respect to either controlled commodities or general destination (across-the-board) exports.
The weight of a container and/or packing materials, but without the goods being shipped. The gross weight of a shipment less the net weight of the goods being shipped.
A comprehensive list or "schedule" of merchandise with applicable rates to be paid or charged for each listed article; or a schedule of shipping rates charged, together with governing rules and regulations.
A tariff anomaly exists when the tariff on raw materials or semi-manufactured goods is higher than the tariff on the finished product.
A situation in which tariffs on manufactured goods are relatively high, tariffs on semi-processed goods are moderate, and tariffs on raw materials are nonexistent or very low.
Application of a higher tariff rate to imported goods after a specified quantity of the item has entered the country at a lower prevailing rate.
A comprehensive list of the goods which a country may import and the import duties applicable to each product.
When one nation increases the tariffs on goods imported from, or exported to another country, and that country then follows by raising tariffs itself in a retaliatory manner.
A nation offering low tax rates and other incentives for individuals and businesses of other countries.
A small vessel which serves a larger vessel in a port for the purpose of supplying provisions and carrying passengers from ship to shore.
The period between the formation of a debt and the date of expected payment.
The area at the end of a rail, ship, air, or truck line which serves as a loading, unloading, transfer point, and storage/repair facility.
A charge made for services performed at terminals.
The volume of exports that can be traded for a given volume of imports.
Developing countries, especially in Asia, Africa, and Latin America, but excluding communist countries.
A single bill of lading covering receipt of cargo at the point of origin for delivery to the ultimate consignee.
A shipping rate applicable from point of origin to destination.
A loan made by a government agency that requires a foreign borrower to spend the proceeds in the lender's country.
A term on a financial instrument or title document indicating that it is negotiable and transferable.
A request upon a transportation line to trace a shipment for the purpose of expediting its movement or establishing delivery.
A carrier's system of recording movement intervals of shipments from origin to destination.
A nation's excess of imports over exports over a period of time.
The name under which an organization conducts business, or by which the business or its goods and services are identified.
Encouragement of the progress, growth, or acceptance of trade.
A nation's excess of exports over imports over a period of time.
The setting of responsibilities of the buyer and seller in a sale including sale price, shipping, insurance, and customs.
A vehicle without motor power designed to be drawn by another vehicle.
A transportation line operating tramp steamers.
A steamship which does not operate under any regular schedule from one port to another, but calls at any port where cargo may be obtained.
To transfer goods from one transportation line to another, or from one ship to another of different ownership.
The price actually paid or payable for merchandise.
The movement of modern or scientific methods of production or distribution from one enterprise to another.
Transfers are the remittance of money by a bank to be paid to a party in another town or city.
A port of entry in a coastal country that is established as a storage and distribution center for the convenience or a neighboring country lacking adequate port facilities or access to the sea.
A list of the particulars of a shipment and a record of the documents being transmitted together with instructions for disposition of documents.
The extent to which laws, regulations, agreements, and practices affecting international trade are open, clear, measurable, and verifiable.
All types of documents evidencing acceptance, receipt and shipment of goods.
Customs entry used when merchandise arrives in the U.S. and is destined for a foreign country.
A person who stays for a period of less than one year in a country of which he or she is not a resident.
A form of check especially designed for travelers, including persons on vacation and business trips.
A container that can maintain three exact temperature zones in difference compartments simultaneously.
Trade between three countries, in which an attempt is made to create a favorable balance for each.
Agricultural goods of export interest to developing countries in the tropical zones of Africa, Latin America, and East Asia (coffee, tea, spices, bananas, and tropical hardwoods).
A declaration by a client to a bank that ownership in goods released by the bank are retained by the bank, and that the client has received the goods in trust only.
A method of construction whereby the contractor assumes total responsibility from design through completion of the product.
An agreement under which a contractor agrees to complete a product so that it is ready for use when delivered to the other contracting party.
An exchange rate regime which normally insulates a country from the balance of payments effects of capital flows while it maintains a stable exchange rate for current account transactions.
A condition that a seller imposes on a buyer, requiring that if the buyer desires to purchase one product (tying product), the buyer must also agree to purchase another product (tied product), which the buyer may or may not want. The laws of some countries prohibit certain tying arrangements.
The person who is the true party in interest, receiving goods for the designated end use.
The last business day or last stock trading day of a month.
United Nations Electronic Data Interchange for Administration, Commerce and Transport: A nationally accepted Electronic Data Interchange standard.
A documentary letter of credit where the advising bank makes no commitment to pay, accept, or negotiate.
Unfair or oppressive.
A nation in which per capita re income is proportionately low when contrasted with the per capita real income of nations where industry flourishes.
Unusual government support to firms such as export subsidies to certain anticompetitive practices by firms themselves such as dumping, boycotts or discriminatory shipping arrangements that result in competitive advantages for the benefiting firms in international trade.
A set of statutes purporting to provide some consistency among states' commercial laws.
The strapping or banding together of a number of individual cargo containers in order to create a single unit.
Term commonly used when referring to containers and pallets.
A part of the UN General Assembly which promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems.
Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training.
An agency of the U.S. Department of Commerce that helps U.S. firms be more competitive in the global marketplace.
A set of volumes containing the official compilation of U.S. law. are also local offices of the U.S. Government Printing Office in major U.S. cities.
U.S. governmental agency whose primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties.
An executive department which serves as the principal adviser to the president on agricultural policy. which works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption.
An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement.
A civilian executive department providing the military forces needed to deter war and protect the security of the U.S.
An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs.
An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures.
An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies.
An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department.
An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and, manufacturing coins and currency.
An executive department of the U.S. government which is responsible for the development of national transportation policies.
Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities-academic and cultural exchanges to press, radio, television and library programs abroad in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries.
An independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports.
In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value.
An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential.
A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports.
An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry and regional and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove government imposed travel barriers.
The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA reduced tariffs on imported merchandise between Canada and the U.S. and opened up new areas of trade in investment.
The practice or technique of consolidating many small pieces of freight into a single unit for easier handling.
An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms.
The physical removal of cargo from carrier's container.
A letter of credit which may be negotiated through any bank of the beneficiary's choice.
The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations.
United States Customs Service.
United States Department of Agriculture.
Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States.
Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States.
The time allowed for payment of an international obligation.
A document issued by the U.S. Government authorizing the export of commodities for which written export authorization is required.
The time period for which a letter of credit is valid.
The appraisal of the worth of imported goods by customs officials for the purpose of determining the amount of duty payable in the importing country.
Transportation charges assessed shippers who declare a value of goods higher than the value of the carriers' limits of liability.
That part of the value of produced goods developed in a company. It is determined by subtracting from sales the costs of materials and supplies, energy costs, contract work, and so on, and it includes labor expenses, administrative and sales costs, and other operating profits.
An indirect tax on consumption that is assessed on the increased value of goods at each discrete point in the chain of production and distribution, from the raw material stage to final consumption. The tax on processors or merchants is levied on the amount by which they increase the value of items they purchase and resell.
A company or individual that supplies goods or services.
An export trading company that integrates a range of functions taking products from suppliers to consumers.
A unit of measurement in the shipping industry assuming that 100 cubic feet of cargo equals one ton.
A license issued by the government of an exporting country for the export to a specific importing country of a certain quantity of a quota controlled commodity subject to a voluntary export restriction or a voluntary restraint agreement.
A program of selected countries to eliminate their visa requirement on a test basis.
The measure of the relative deviation of a price from the mean.
A rate applicable in connection with a specified volume of freight.
An understanding between trading partners in which the exporting nation, in order to reduce trade friction, agrees to limit exports of a particular good.
Informal bilateral or multilateral arrangements through which exporters voluntarily restrain certain exports, usually through export quotas to avoid economic dislocation in an importing country and to avert the possible imposition of mandatory import restrictions.
A marine insurance provision excluding the liability of an insurer if a loss is caused by war or hostile action. Bills of Lading and charter parties may contain a "War Clause" giving the vessel options to maintain it's safety in case of hostilities.
An document listing the goods or commodities deposited in a warehouse. It is a receipt for the commodities listed, and for which the warehouse is the bailee. Warehouse receipts may be either non-negotiable or negotiable.
A federal warehouse where goods remain until duty has been collected from the importer.
The risk to a vessel, its cargo and passengers by aggressive actions of a hostile nation or group.
Insurance covering loss or damage caused by war or other hostile actions. usually a separate policy from a marine insurance policy, or a special attachment to it.
A promise by a contracting party that the other party can rely on certain facts or representations as being true.
An international multilateral treaty which regulates, in a uniform manner, the conditions of international transportation by air.
A document prepared by a transportation line at the point of a shipment, showing the point or origin, destination, route, consignor, consignee, description of shipment and amount charged for the transportation service, and forwarded with the shipment, or by direct mail, to the agent at the transfer point or waybill destination.
Federal legislation exempting exporters' associations from the antitrust regulations.
Associations engaged in exporting that combine the products of similar producers for overseas sales. These associations have partial exemption from U.S. anti-trust laws but may not engage in import, domestic or third country trade, or combine to export services.
Levels at which the freight rate per 100 pounds decreases because of substantial increases in the weight of the shipment.
A charge assessed by a pier or dock owner for handling incoming or outgoing cargo.
A term indicating that a shipper's agent or representative is empowered to make definitive decisions and adjustments abroad without approval of the group or individual represented.
The International Bank for Reconstruction and Development (IBRD), commonly referred to as the World Bank, is an intergovernmental financial institution located in Washington, DC. Its objectives are to help raise productivity and incomes and reduce poverty in developing countries.
An integrated group of international institutions that provides financial and technical assistance to developing countries.
Local or regional based organizations in the United States and around the world of importers, exporters, customs brokers, freight forwarders, attorneys, bankers, manufacturers and shippers.
World Trade Organization.
A numerical code, established by the U.S. Postal Service, used for the purpose of routing and to identify delivery zones. Some U.S. carriers apply this code for freight in the same manner.
Any one of a number of sections or districts in the United States or of the world used for the purpose of establishing proper rates for parcels, mail, pickup, and delivery.
The legal status of merchandise which has been admitted to a U.S. foreign trade zone, thereby becoming subject to the provisions of the Foreign Trade Zone Act (FTZA).
A corporation, partnership or party that uses a U.S. foreign trade zone for storage, handling, processing, or manufacturing merchandise in zone status, whether foreign or domestic.
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