Read MoreShipping Glossary of Terms
Acceptance: A term with several related meanings: (1) A time draft or bill of exchange the drawee has accepted and is unconditionally obligated to pay at maturity. The draft must be presented first for acceptance (the drawee becomes the acceptor) then payment. The word "accepted" and the date and place of payment must be written on the face of the draft; (2) The drawee's act in receiving a draft, thus agreeing to pay it; (3) Broadly speaking, any agreement to purchase goods under specified terms. An agreement to purchase goods at a stated price under stated terms.
Adjustment Assistance: Financial, training and reemployment technical assistance provided to workers or businesses to help them cope with difficulties arising from increased import competition. The intention of such assistance is to help an industry become more competitive in the same line of production, or to move into other economic activities.
Advance Against Documents: A loan made on the security of the documents covering the shipment.
Affreightment Contract: An agreement by a steamship line to provide cargo space on a vessel at a specified time for a specified price to accommodate an importer or an exporter, who then becomes liable for payment even though later unable to make the shipment.
Air Waybill: A bill of lading that covers both domestic and international flights transporting goods to a specified destination. It is a non-negotiable instrument of air transport that serves as a receipt for the shipper and indicates the carrier has accepted the goods listed, obligating itself to carry them to the airport of destination according to conditions specified. See Inland, Ocean and Through bill of lading entries.
All-Risk Clause: An insurance provision that all loss or damage to goods is insured except inherent vice (self-caused).
American National Standards Institute (ANSI): A private, non-profit membership organization that accredits its U.S. standards developers and approves American national standards. It is also the sole U.S. representative to the Geneva-based International Organization for Standardization. ANSI works closely with the Commerce Department's National Institute of Standards and Technology (NIST) to coordinate a national strategy in negotiations to establish international standards.
Andean Trade Preference Act (ATPA): A U.S. government program providing for duty-free entry of merchandise from Bolivia, Colombia, Ecuador and Peru. It was enacted into law on December 4, 1991, and is scheduled to expire on the same date in 2001.
Anti-Dumping Clause: A tariff imposed to discourage sale of foreign goods in the U.S. market at very low prices.
Arbitrage: The practice of exchanging the currency of one country for that of another or a series of countries to gain an advantage from the difference in exchange rates.
Arbitration Clause A clause in a sales contract outlining the method for settling disputes.
Assist Any materials, tools or services the importer provides free of charge or at a reduced cost that are used to produce or sell merchandise for export to the U.S. When not included in the price, the value of the assist is added to the transaction value of imported goods to assess duties.
ATA Carnet ATA stands for the combined French and English words "Admission Temporaire/ Temporary Admission." The ATA carnet is an international customs document that may be used for temporary duty-free importation of certain goods into a country in lieu of the usual customs documents required. The carnet serves as a guarantee against the payment of customs duties that may become due on goods temporarily imported and not re-exported. Quota compliance may be required on certain types of merchandise. A carnet is valid for one year, but does not replace an export license.
Automated Broker Interface (ABI): Direct computer interface between customhouse brokers and/or freight forwarders and U.S. Customs.
Balance of Trade: The difference between a country's imports and exports. When exports exceed imports, the balance is said to be favorable. If it's vice versa, a deficit exists.
Barter: Trade where goods are traded for goods directly without the use of money or involvement of a third party. This is an important means of trade with countries using currency that is not readily convertible.
Beggar-Thy-Neighbor Policy: A course of action through which a country tries to reduce unemployment and increase domestic output by raising tariffs and instituting non-tariff barriers to hinder imports, or by accomplishing the same objective through competitive devaluation. America's Smoot-Hawley Tariff Act of 1930 is a good example.
Beneficiary: The person in whose favor a letter of credit is issued or a draft is drawn.
Bilateral: Trade Agreement: A formal or informal agreement covering commerce between two countries. These agreements sometimes list quantities of specific goods that may be exchanged within a given period.
Bill of Lading: A document with shipping information, evidencing receipt of goods by the shipper.
Binding Rulings: See the Import Section in the WORLDLINK Import/Export Customer Handbook.
Bonded Warehouse: A facility authorized by customs authorities for the storage of goods on which payment of duties is deferred until goods are removed.
Booking Number: A number assigned to a contract of affreightment used as an identifying reference on bills and correspondence.
Bounties or Grants: Payments by governments to producers of goods, often to strengthen their competitive position.
Boycott: Refusal to deal with a person, firm or country.
Caribbean Basin Initiative (CBI): A U.S. government program providing for the duty-free entry of merchandise from designated beneficiary countries or territories. It was enacted as the Caribbean Basin Economic Recovery Act, became effective on January 1, 1984 and has no expiration date.
Carriage Paid To (CPT) and Carriage and Insurance Paid To (CIP): Pricing terms indicating that carriage or carriage and insurance have been paid to a destination. They apply in place of CFR and CIF, respectively, for non-sea shipments.
Carrier's Certificate: A document issued by the carrier certifying the owner of the goods transported by the carrier, evidencing the owner's right to make entry.
Cash against Documents (CAD): Payment for goods in which a commission house or other intermediary transfers title documents to the buyer upon payment in cash.
Cash in Advance (CIA): Payment for goods in which the price is paid in full before payment is made. Usually used for small purchases.
Cash with Order (CWO): Payment for the goods by the buyer on ordering and in which the transaction is binding between the two parties.
Certificate of Manufacture: A document sometimes used instead of a bill of lading to support the export draft for acceptance of payment.
Certificate of Origin: A document certifying the country of origin for certain goods.
Charge In Full (CIF): An abbreviation used in some international sales contracts when the selling price includes all "costs, insurance and freight" for the goods sold ("charge in full"). This means the seller arranges and pays for all relevant expenses in shipping goods from the port of export to the port of import.
Charter Party: Renting of an entire vessel or part of its freight space for a particular trip or stipulated time period.
Clean Bill of Lading: A receipt for goods issued by a carrier indicating the goods were received in "apparent good order and condition." A Foul Bill of Lading indicates the goods were damaged when received.
Codes of Conduct: International instruments that indicate desirable standards of behavior for nations and multinational corporations operating in the international community. Such codes are monitored by a special committee that meets under the auspices of GATT and which encourages consultations and the settlement of disputes. Countries that are not contracting parties to GATT may adhere to these codes.
Commercial Code: A published code designed to reduce total number of words in a cablegram.
Commercial Invoice: The document that usually accompanies an export draft, which, in addition to providing other details, identifies the merchandise and its value.
Commingling: Packing together different articles that are subject to different duties.
Commodity: Broadly defined as any article exchanged in trade, but most commonly used to refer to raw materials such as copper, tin, sugar, coffee and rubber.
Common External Tariff (CXT): A tariff rate uniformly applied by a common market or customs union, such as the European Community, to imports from non- member countries. While the European Common Market is based on the principle of a free internal trade area with a common external tariff, not all free trade areas have common external tariffs.
Compact of Free Association (FAS): A U.S. government program providing for the duty-free entry of merchandise from the Marshall Islands and the Federated States of Micronesia. It became effective on October 18, 1989, and has no expiration date.
Comparative Advantage: A central concept in international trade theory that holds that a country or region should specialize in making and exporting goods and services that it can produce relatively more efficiently than others. In turn, the country should import goods and services for which it has comparative disadvantage producing.
Computed Value: The sum of materials, fabrication and other processing involved in producing merchandise, plus profit, expenses, assists and packing. Computed value is used to determine the transaction value of imported goods where other methods are unavailable.
Consignee marks: A symbol placed on packages for export identification purposes, generally consisting of a triangle, square, circle etc. with letters and/or numbers as well as port of discharge.
Consignment: A payment method where an importer only pays for goods when they are sold to a third party, and in which the title is retained by the exporter until the sale is complete.
Consul: A government official residing in a foreign country who is charged with the representation of the interests of his country and its nationals.
Consular Declaration: A formal statement, made to the consul of a foreign nation, describing the goods to be shipped.
Consular Invoice: A document covering a shipment of goods, issued by the consul of the country where the goods are destined.
Consulate: The jurisdiction, terms of office, or official premises of a consul.
Consumption Entry: An official form used for declaration of value, description and the total duty due on such transaction.
Continuous Bond: A customs bond covering an importer's transactions for a period of a year. A Single Entry Bond covers only one import shipment.
Cost and Freight (CFR): An abbreviation commonly used in sales contracts.
Countertrade: A reciprocal trading arrangement that includes such transactions as counterpurchase, reverse contracts, buyback arrangements, clearing agreements, switch arrangements, swap schemes and barter arrangements. For example, a swap scheme could involve "exchanging" Russian oil for oil from a Latin American producer so the Russian oil can be shipped to Southeast Asia, while the Latin American oil instead goes to Cuba, thus saving on transportation costs.
Countervailing Duties: Special duties imposed on imports to offset the benefits of subsidies to producers or exporters in the exporting countries. GATT Article VI permits the use of such duties.
The U.S. government's Executive Branch has been empowered since the 1890s to impose countervailing duties in amounts equal to any "bounties" or "grants" reflected in products imported into the U.S. Such duties may only be imposed after the U.S. International Trade Commission determines that certain imports are causing or threatening to cause material injury to an American industry. (See Dumping).
Credit Risk Insurance: Covers risks of non-payment for delivered goods.
Customs Bond: A contract required by Customs between a principal and a surety to ensure the performance of legal obligations incurred upon importing merchandise. Customs is the beneficiary.
Customs: Classification: The particular category in a tariff nomenclature in which a product is classified for tariff purposes. Or it can be the procedure for determining the appropriate tariff category in a country's nomenclature system used for the classification, coding and description of internationally traded goods. Most important trading nations-except for the U.S., Russia and Canada-classify goods according to the Customs Cooperation Council Nomenclature (CCCN), formerly known as the Brussels Tariff Nomenclature (BTN).
Customs Harmonization: International efforts to increase the uniformity of customs nomenclatures and procedures among cooperating countries.
Customshouse Broker: An individual or firm, such as WORLDLINK, licensed to enter and clear goods through customs.
Deferred Payment Credit: A type of letter of credit providing for payment some time after the presentation of shipping documents by the exporter.
Demurrage: Excess time taken for loading or unloading a vessel not caused by the vessel operator, but due to the acts of a charterer or shipper. Also refers to imported cargo not picked up within a certain time.
Destination Control Statement: Any of various ones required by the U.S. government to be displayed on export shipments, specifying the export destinations that have been authorized.
Devaluation: The official lowering of the value of one country's currency in relationship to the currencies of one or more other countries. If the U.S. dollar is devalued in relationship to the Swiss franc, one dollar will buy fewer francs than before.
Developed/Developing Countries: Developed countries are generally considered to be the more industrialized nations, sometimes collectively referred to as the "North" because most are in the Northern Hemisphere. The developing countries generally are those lacking a high degree of industrialization, infrastructure, sophisticated technology, widespread literacy, etc. They are often collectively referred to as the "South" because most are in the Southern Hemisphere. Another frequently used term is lesser developed countries or LDCs.
Direct Exporting: Sale by an exporter directly to a buyer in a foreign country.
Dispatch: An amount paid to a charterer by the vessel operator if loading or unloading is accomplished in less time than provided for in the charter party.
Dispute Settlement: Resolution of conflict, usually through a compromise between opposing claims, sometimes facilitated through an intermediary. GATT provides for legal redress of disputes through its Articles XXII and XXIII.
Distributor: A foreign agent who sells directly for a manufacturer and maintains an inventory on hand.
Dock Receipt: A receipt given for a shipment received or delivered at a shipment pier. When delivery of a foreign shipment is completed, the dock receipt is surrendered to the vessel operator or his agent and serves as the basis for preparing the Ocean Bill of Lading.
Documents against Acceptance (D/A): Instructions given by a shipper to a bank indicating that documents transferring title of the goods should be delivered to the buyer (drawee) only upon the buyer's acceptance of the attached draft.
Documents against Payment (D/P): A type of payment for goods in which the documents transferring title to the goods are not given to the buyer until he has paid the value of a draft issued against him.
Domestic International Sales Corporation (Interest Charge DISC): A special U.S. corporation authorized by the U.S. Revenue Act of 1971 and amended by the Tax Reform Act of 1984. A DISC may borrow from the U.S. Treasury at the average one-year Treasury Bill interest rate to the extent of income tax liable on 94 percent of its annual corporate income. To qualify, the corporation must derive 95 percent of its income from U.S. exports. Plus, at least 95 percent of its gross assets (working capital, inventory, building and equipment, etc.) must be export- related. Such a corporation may buy and sell independently, or may operate as a subsidiary of another corporation. Also, it may maintain sales and service facilities outside the U.S. to promote and market its goods. DISCs can now provide a tax deferral of up to $10 million of exports as long as the funds remain in export-related investments. (See Foreign Sales Corporation)
Draft (Bill of Exchange): A financial instrument issued by one party directing another party to make payment. Also, an allowance made for loss of weight during shipment on goods dutiable based on net weight.
Drawback: A government rebate, in whole or in part, of customs duties assessed on imported goods that are subsequently exported as raw materials or components. Drawback regulations and procedures vary among countries. (See the Import Section in the WORLDLINK Import/Export Customer Handbook.)
Drawee: The individual or firm on whom a draft is drawn and who owes the stated amount. The Drawer receives payment.
Dumping: Under U.S. law, the sale of an imported commodity in the U.S. 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. Dumping is considered unfair because it disrupts markets and injures producers of the same product in the importing country.
Duty: A tax imposed on imports by the customs authority of a country. Duties are generally based on the value of the goods (ad valorem duties), some other factor such as weight or quantity (specific duties) or a combination of value and other factors (compound duties).
Entry (Customs): A statement of the kinds, quantities and value of goods imported together with duties, if any, declared before a customs official.
Entry Papers: Those documents that must be filed with Customs officials describing goods imported, such as consumption entry, Ocean Bill of Lading or Carrier Release, and Commercial Invoice.
Escape Clause: A provision in a bilateral or multilateral commercial agreement permitting a signatory nation to suspend tariff or other concessions when imports threaten serious harm to its producers of competitive domestic goods. GATT Article XIX sanctions such safeguard provisions. Section 201 of the U.S. Trade Act of 1974 requires the U.S. International Trade Commission to investigate complaints from domestic producers regarding threats from imports.
Evidence of Right to Make Entry: Documents such as a carrier's certificate, bill of lading or airway bill certifying the owner of the goods and enabling them to enter Customs.
Ex-(From): When used in pricing terms such as ex-factory or ex-dock, ex- signifies that the price quoted applies only at the point of origin, in this case at the seller's factory or the dock at the import point. In practice, such a quotation means the seller agrees to place the goods at buyer's disposal at the specified place within a fixed period of time.
Exchange Controls: The rationing of foreign currencies, bank drafts and other instruments for settling international financial obligations by countries seeking to lessen acute balance of payments difficulties. When such measures are imposed, importers must apply for prior authorization from the government to obtain the foreign currency required to bring in designated amounts and types of goods. By restricting imports, exchange controls are considered non-tariff trade barriers.
Exchange Permit: A government permit sometimes required by the importer's government to enable the importer to convert his or her own country's currency into foreign currency with which to pay the seller in another country.
Exchange Rate: The price (or rate) at which one currency is exchanged for another currency, for gold or for Special Drawing Rights (SDRs).
Ex-Dock: A sales term meaning the exporter assumes all shipping costs.
Ex-Mill (Ex warehouse, ex mine, ex factory): The seller is obligated to place the specified quantity of goods at the specified price at his mill loaded on trucks, rail cars or any other specified means of transport. The buyer must accept the goods in this manner and make all arrangements for transportation.
Export Broker: An individual or firm that brings together buyers and sellers for a fee, but does not take part in the actual sales transaction.
Export Commission House: An organization that, for a commission, acts as a purchasing agent for a foreign buyer.
Export Declaration: A formal statement made to the Director of Customs at a port of exit declaring full particulars about goods being exported.
Export License: A government document that permits the licensee to engage in the export of designated goods to certain destinations.
Export Management Company: A private firm that serves as the export department for several manufacturers, soliciting and transacting export business on behalf of clients for a commission, retainer or salary plus commission.
Export Merchant: A producer or merchant who sells directly to a foreign purchaser without going through an intermediary such as an export broker.
Export Quotas: Specific restrictions or ceilings imposed by an exporting country on the value or volume of certain imports. Quotas are intended to protect domestic producers and consumers from temporary shortages of the goods affected or to bolster their prices in world markets.
Export Rate: A freight rate specially established for application on export traffic and generally lower than the domestic rate.
Export Restraints: Quantitative restrictions imposed by exporting countries to limit exports to specified foreign markets, usually as a follow-up to formal or informal agreements reached with importing countries.
Export Subsidies: Government payments or other financial incentives to domestic producers or exporters contingent on the export of their goods and services. GATT Article XVI recognizes in general that subsidies distort normal commercial activities and hinder GATT objectives.
Export Trading Company: A corporation or other business unit organized and operated principally to export goods and services, or to provide export-related services to other companies. The Export Trading Act of 1982 exempts authorized trading companies from certain provisions of the U.S. anti-trust laws. Similar to an export management company.
FOB: Free On Board. An abbreviation sometimes used in international sales contracts, for example, FOB at a named port of export. The seller quotes the buyer a price that covers all costs up to and including delivery of goods aboard a vessel at the agreed upon port, stipulated as "FOB vessel." Normally, the buyer assumes responsibility for all shipping and transportation costs beyond the seller's place of business. The same principle applies to the terms Free On Rail (FOR) and Free On Truck (FOT).
Force Majeure: A standard clause in marine contracts that exempts parties for nonfulfillment of their obligations due to conditions beyond their control, i.e. earthquakes, floods, wars, etc.
Foreign Branch Office: A sales or other office maintained in a foreign country and staffed by direct employees of the exporter.
Foreign Sales Agent: An agent residing in a foreign country who acts as a salesman for a domestic manufacturer.
Foreign Sales Corporation (FSC): A firm incorporated in Guam, the U.S. Virgin Islands, the Commonwealth of Northern Mariana Islands, American Samoa or any foreign country that has a satisfactory exchange-of-information agreement with the U.S. and elects to be taxed as a U.S. corporation. However, an FSC exempts from its taxable income a portion of the combined net income of the FSC and its affiliated supplier on the export of U.S. products. In addition, to qualify for special tax treatment, an FSC must maintain an office outside U.S. territory, maintain a summary of its permanent books of account at the foreign office, and have at least one director residing outside the U.S. Variations include small and shared FSCs.
Foreign-Trade Zones: Foreign or "free" trade zones are secured areas legally outside a nation's customs territory. Their purpose is to attract and promote international trade and commerce. The Foreign-Trade Zones Board authorizes operations based upon showing the intended operations are not detrimental to the public interest. Foreign-trade zones are usually located in or near customs points of entry, at industrial parks, or terminal warehouse facilities. Foreign exporters planning to expand or open new American outlets may forward their goods to an FTZ in the U.S. where they can be held for an unlimited time awaiting a favorable American or nearby country market. The goods are not subject to customs entry, payment of duty or tax, or bond, during this holding period.
Foul Bill of Lading: A receipt for goods issued by a carrier bearing a notation that the outward containers or the goods have been damaged.
Free In and Out (F.I.O.): Cost of loading and unloading a vessel is borne by the charterer.
Free of Capture and Seizure (F.C.&S.): An insurance clause providing that loss is not insured if due to capture, seizure and like actions, legal or not. or to actions such as piracy, war, etc.
Free of Particular Average (F.P.A.): A marine insurance clause providing that partial loss or damage is not insured.
Free Out (F.O.): Cost of unloading a vessel is borne by the charterer.
Free Trade: A theoretical concept assuming international trade unhampered by government measures such as tariffs or non-tariff barriers. Countries, instead, continually strive to establish freer trade.
Free Trade Area: Two or more countries that have eliminated tariff and most non-tariff barriers affecting trade among them, while each participating country applies its own independent schedule of tariffs to imports from non-member countries. An example is the European Free Trade Association (EFTA). Free trade areas are governed by GATT. Foreign trade zones or FTZs are the U.S. form of free trade areas. Free trade zones (sometimes called "customs free" or "duty free" zones) is a generic term referring to special commercial and industrial areas where special customs procedures allow importation of foreign merchandise without the requirement that duties be paid immediately.
Freight Forwarder: An independent business, such as WORLDLINK, that handles export shipments for compensation and takes care of making all necessary arrangements and providing the services necessary to expedite the shipment to its overseas destination. They must be licensed by the Federal Maritime Commission or the Air Transport Association to handle ocean and/or air shipments.
General Average: A maritime law principle under which all parties to an ocean-going shipment share in liability in the event of loss or damage.
Generalized System of Preferences (GSP): A mutually beneficial concept developed by the United Nations Conference on Trade and Development (UNCTAD) to encourage expansion of manufactured and semimanufactured exports from developing countries by making their goods more competitive in developed country markets through tariff preferences. The U.S. GSP system comprises nonreciprocal tariff preferences that benefit developing countries.
General Export License: Licenses authorized by the Bureau of Export Administration that permit export of goods and technology to specified countries without the need for a validated license. There are more than 20 different types of general licenses.
GmbH: Gesellschaft mit beschrankter Haftung (limited liability company), the most common German corporation structure.
Government Procurement Policies and Practices: The means and mechanisms by which official government agencies buy goods and services. They can be non-tariff barriers to trade if they discriminate in favor of domestic suppliers when competitive imported goods are cheaper or of better quality.
Graduation: The presumption that individual developing countries are capable of assuming greater responsibilities and obligations in the international community-within GATT or the World Bank, for example-as their economies advance through industrialization, export development, rising living standard, etc.
Gross Weight: The full weight of a shipment, including goods and packaging.
Import License: A document required and issued by some national governments authorizing the importation of goods into their countries.
Import Merchant: A merchant who buys overseas for his own account for the purpose of later resale, handling all details of import documentation and transportation.
Import Rate: A rate established specifically for application on import traffic and generally less, when so published, than a domestic rate.
Import Substitution: An attempt by a country to reduce imports by encouraging domestic producers.
Importer Distributor: A merchant who imports goods, usually on an exclusive territory arrangement, maintains an inventory and through a sales staff, sells to retailers.
Indent: A requisition for goods, enumerating conditions of the sale. Acceptance constitutes agreement to the conditions of the sale.
Indirect Exporting: Sale by an exporter to the buyer through a domestically located intermediary.
Infant Industry Argument: The view that "temporary protection" for a new industry or firm in a certain country through tariff and non-tariff barriers to imports can help that industry become established.
Inland Bill of Lading: A bill of lading used in transporting goods overland to the exporter's international carrier. Although a through bill of lading is sometimes used, an inland bill of lading and an ocean bill of lading still are usually required.
Inland Carrier: A transportation line that hauls export or import traffic between ports and inland points.
Intellectual Property: Ownership conferring the right to possess, use or dispose of products created by human ingenuity, including patents, trademarks and copyrights.
International Organization for Standardization (ISO): Established in 1947, this is a worldwide federation of national bodies representing some 90 countries. It is responsible for standardization in all fields except electrical and electronic engineering (the responsibility of the International Electrotechnical Commission). ISO 9000 is the general name for the quality standard accepted throughout the European Economic Community. ISO 9001 outlines a model for quality assurance in design, development, production, installation and service. ISO 9002 outlines a model for QA in production and installation. ISO 9003 outlines a model for QA in final inspection and testing. ISO 9004 is not a standard, but includes guidelines for quality management and quality systems elements. The newest ISO 14000 directive covers environmental management standards.
International and Territorial Operations: In general, operations outside U.S. territory, including operations between U.S. points separate by foreign territory or international waters.
Irrevocable Letter of Credit: A letter of credit in which the specified payment is guaranteed by the bank if all conditions and terms are met by the drawee. It is as good as the issuing bank.
Lay Days: The dates between which a chartered vessel is to be available in port for loading of cargo.
Legal Weight: The weight of the goods plus any immediate wrappings that are sold along with the goods, for example, the weight of a tin can as well as its contents.
Letter Of Credit: A document, issued by a bank per instructions of a buyer of goods, authorizing the seller to draw a specified sum of money under specified terms, usually the receipt by the bank of certain documents within a given time. A typical letter of credit includes a brief description of goods, documents required, a shipping date and an expiration date after which payment will no longer be made. There are four types of letters of credit: Irrevocable, revocable, confirmed and documentary.
Liquidation: A final review of an entry, meaning the merchandise has been properly classified and all duties assessed.
Manifest: A list of goods transported by a carrier.
Manufacturer's Export Agent: A firm that acts as an export sales agent for several non-competing manufacturers. Business is transacted under the name of the agent firm.
Marine Insurance: Compensates owners of goods transported overseas in the event such losses cannot be legally recovered from the carrier. Also covers air shipments.
Markings: Letters, numbers and other symbols placed on cargo packages for easier identification.
Mixed Credits: Exceptionally liberal financing terms for an export sale, ostensibly provided for a foreign aid purpose.
Most Favored Nation Treatment (MFN): Non-discrimination in trade policy that provides to all trading partners the same customs and tariff treatment given to the "most-favored nation." It has been a fundamental principle of U.S. trade since 1778.
Multi-Fiber Arrangement Regarding International Trade in Textiles (MFA): An international compact under GATT that allows an importing signatory country to apply numerical restrictions on textile imports when it considers them necessary to prevent market disruption. MFA provides a framework for regulating international trade in textiles and apparel. It covers wool, man-made (synthetic) fibers, silk blends and other vegetable fiber textiles and apparel.
Multilateral Agreement: An international compact that involves three or more parties. GATT, for example, since 1947 has been seeking to promote more liberal trade through multilateral negotiations called "rounds."
Net Weight: Weight of the goods alone without any immediate wrappings; for example, the contents of a tin can minus the weight of the can.
Non-Market Economy: A national economy or a country in which the government seeks to determine economic activity largely through central planning as in the case of the former Soviet Union. This compares with a market economy that relies heavily upon market forces to allocate productive resources.
Non-Tariff Barriers: Government measures other than tariffs that restrict imports. The overall reduction in tariffs since World War II has prompted an increase in non-tariff barriers.
Non-Vessel Operating Common Carrier (NVOCC): A cargo consolidator of small shipments in ocean trades, such as WORLDLINK, generally seeking business and arranging for or performing containerization functions at the port.
North American Free Trade Agreement (NAFTA): A free trade agreement involving Canada, the U.S. and Mexico entered into force in January 1994. It progressively eliminates almost all U.S.-Mexico tariffs over a 10-year period, removes other barriers to trade such as import licensing requirements, establishes the principle of national treatment, guarantees service providers of the three nations equal treatment in the NAFTA area, and establishes five basic principles to protect foreign investors and their investment in the NAFTA area.
On Board Bill of Lading: A bill of lading in which the carrier certifies goods have been placed on board a certain vessel.
Open Account: A trade agreement in which goods are shipped to a foreign buyer without guarantee of payment. Obviously, the buyer's integrity must be impeccable.
Open Insurance Policy: A marine insurance policy that applies to all shipments made by an exporter over an extended period.
Order Bill of Lading: A negotiable bill of lading made out to the order of the shipper.
Paris Convention: The Paris Convention for the Protection of Industrial Property, first adopted in 1883, is the major international agreement providing basic rights for protecting international property, for example, patents, industrial designs, service marks, trade names and unfair competition. The U.S. ratified this treaty in 1887.
Particular Average: Partial loss or damage to goods.
Par Value: The official fixed exchange rate between two currencies or between a currency and a specific weight of gold or a basket of currencies.
Peril Point: A hypothetical limit beyond which a reduction in tariff protection would cause serious injury to a domestic industry.
Perils of the Sea: A marine insurance term designating heavy weather, stranding, lightning, collision and sea water damage.
Phytosanitary Inspection Certificate: A U.S. Department of Agriculture certificate issued to satisfy import regulations of foreign countries, indicating that a U.S. shipment has been inspected and is free from harmful pests and plant diseases.
Port marks: An identifying set of letters, numbers and/or geometric symbols followed by the name of the port or destination placed on export shipments. Requirements for them can be very strict.
Private Code: A secret system devised to conceal the contents of a message and to reduce the number of words in a cablegram.
Pro Forma Invoice: An invoice provided by a supplier prior to the shipment of merchandise, informing the buyer of the kinds and quantities of the goods to be sent, their value and important specifications (weight, size, etc.).
Protectionism: The deliberate use or encouragement of restrictions on imports to enable relatively inefficient domestic producers to compete successfully with foreign producers.
Quotation: An offer to sell goods at a stated price and under stated terms.
Retaliation: 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 in a manner inconsistent with GATT.
Revocable Letter of Credit: One that can be canceled or altered by the drawee (buyer) after it has been issued by the drawee's bank.
Shipper's Export Declaration: A form required by the Treasury Department and completed by a shipper. It shows the value, weight, consignee, etc. of export shipments as well as Harmonized Schedule B identification number.
Special Drawing Rights (SDRs): These were created in 1969 by the International Monetary Fund as a supplemental international monetary reserve asset. SDRs are available to governments through the IMF and may be used in transactions between the fund and member governments.
Standard Industrial Classification (SIC): A standard numerical code system used by the U.S. government to classify products and services.
Standard Industrial Trade Classification (SITC): A standard numerical code system developed by the United Nations to classify commodities used in international trade.
Steamship Conference: A group of steamship operators running under mutually agreed- upon freight rates.
Sterling Bloc: The British commonwealth countries that fixed the price of sterling used in foreign exchange to encourage trading within the bloc.
Strikes, Riots and Civil Commotions (S.R. & C.C.): A term referring to an insurance clause excluding insurance of loss due to such conditions.
Sue and Labor Clause: A marine insurance provision obligating the insured to do those things necessary after a loss to prevent further loss and to act in the best interests of the insurer.
Surety: A guarantee in the form of cash, a bond, government obligation or other collateral such as land, to secure the performance of an importer with regard to Customs.
Switch Transactions: The practice of exporting or importing goods through an intermediary country to final destinations. This is done when the destination country is short of U.S. dollars and the intermediary country has available U.S. dollars it is willing to exchange for the destination country's currency on goods.
Tariff: A duty, or tax, levied on goods transported from one customs area to another. Tariffs raise the prices of imported goods, thus making them less competitive within the imported country's market. Following the GATT Rounds, tariffs are less important. Tariff also often refers to a comprehensive list of merchandise with the rate of duty to be paid to the government for importing products listed.
Temporary Importation Under Bond (TIB): Allows certain classes of imported goods, such as merchandise to be repaired, altered or processed, to remain duty-free under bond as long as the merchandise is exported within a year, or three years with extensions.
Tenor (of a Draft): Designation of a payment as being due on sight, or a certain number of days after sight, or after a designated date.
Terms of Trade: The volume of exports that can be traded for a given volume of imports, and another measure of a country's economic strength.
Through Bill of Lading: A single bill of lading converting both the domestic and international carriage of an export shipment. An air waybill, for example, is essentially a through bill of lading used for air shipments. Ocean shipments, however, usually require two separate documents-an inland bill of lading for domestic carriage, and an ocean bill of lading for international carriage. Through bills of lading are insufficient for ocean shipments.
Tied Loan: A loan made by a government agency that requires the foreign borrower to spend the proceeds in the lending country.
Trade Policy Committee (TPC): A U.S. senior inter-agency committee chaired by the U.S. Trade Representative. It provides broad guidance to the President on trade policy issues. Members include the Secretaries of Commerce, State, Treasury, Agriculture and Labor.
Tramp Steamer: A ship not operating on regular routes or schedules.
Transaction Value: The value used to assess duty. It can be the actual price paid for imported goods, or the price paid for identical or similar merchandise, or the computed or deductive value of the goods. The value used is the one that most closely reflects the true value of the goods.
Transfer of Technology: The movement of modern or scientific methods of production or distribution from one enterprise, institution or country to another, as through foreign investment, international trade licensing of patent rights, technical assistance or training.
Transparency: Visibility and clarity of laws and regulations. The GATT Tokyo Round sought to increase the transparency of non-tariff barriers that impede trade.
Transportation and Exportation Entry: A form declaring goods that are entering the U.S., for example, from Canada, for the purpose of exportation through a U.S. port. Carriers and any warehouse must be bonded.
Trigger Price Mechanism (TPM): A U.S. system for monitoring imported steel to identify imports that are possibly being dumped in the U.S. or being subsidized by the governments of the exporting countries.
Turnkey Contract: An agreement where a contractor assumes responsibility to a client for building productive installations and ensuring that they operate effectively before turning them over to the client.
Trust Receipt: Allows an importer to possess goods without a title and before paying the draft.
Valuation: The appraisal of the worth of imported goods by customs officials to determine the amount of duty payable to the importing country. The GATT Customs Valuation Code obligates signatory governments to use transaction value, the price actually paid or payable for goods, as the principal basis for valuing goods for customs purposes.
Value Added Tax (VAT): An indirect tax on consumption levied at each discrete point in the chain of production and distribution, from raw material to end use. Each processor or merchant pays a tax proportional to the amount by which they increase the value of the goods purchased for resale after making their own contribution. The VAT is imposed through the European Community.
Voluntary Restraint Agreements (VRAs): Informal arrangements through which exporters voluntarily restrain certain exports, usually via export quotas, to avoid economic dislocation in an importing country, as well as to avert possible imposition of mandatory import restrictions.
War/Strike Clause: An insurance provision covering loss due to these conditions.
Warehouse Entry: A form declaring goods imported and placed in a bonded warehouse. Duty may not be required until goods are withdrawn for consumption.
Weather Working Day: A day when reasonable weather conditions prevail to allow normal working to the vessel. Western Hemisphere Trade Corporation: A U.S. corporation whose business is done in any country of North, South or Central America, or the West Indies, and which usually receives certain tax advantages.
With Particular Average (W.P.A.): An insurance term meaning that partial loss or damage to goods is insured. Generally, the damage must be caused by sea water.
Sources:
"Breaking Into The Trade Game: A Small Business Guide to Exporting," co-sponsored by Small Business Administration and AT&T. Small Business Administration, Washington, D.C. 20416. Publication #93-13-4924710-1.
"Dictionary of International Trade Terms and Acronyms," Kutztown University Small Business Development Center, Regional International Trade Center, Dixon University, 2986 N. Second St., Harrisburg, PA 17110, Revised November 1995. Phone: (717) 720-4230. (NOTE: This is an excellent reference containing definitions for many more terms. It is available for a nominal cost of approximately $20.)
"A Glossary of International Trade Terms," Business America, September 19, 1986. U.S. Department of Commerce. Available from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. Phone: (202) 783-3238. Approximate annual subscription cost $50.
"Importing into the United States," Department of the Treasury, U.S. Customs Service. Publication #504A, October 1994. Available from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. Phone: (202) 783-3238. For a free copy, write to U.S. Customs Service, P.O. Box 7407, Washington, D.C. 20044. Additional copies are $6.50 each; cost is $8.13 for overseas mailing.
A Basic Guide to Exporting," U.S. Department of Commerce. January 1992.
"Essential Facts: Importing and Exporting. A Complete Guide to International Trading," Warren, Gorham & Lamont, One Penn Plaza, New York, N.Y. 10119.
| AADFI | Association of African Development Finance Institutions |
| AAIB | Arab-African International Bank |
| AATPO | Association of African Trade Promotion Organizations |
| ABC | American Business Center |
| ABEDA | Arab Bank for Economic Development in Africa |
| ABI | Automated Broker Interface |
| ABI | American Business Institute |
| ACA | Accession Compensatory Amount |
| ACAB | Association of Central African Bank |
| ACC | Arab Cooperation Council |
| ACCT | Agence de CoopŽration Culterellee et Technique (French: Agency for Cultural and Technical Cooperation) |
| ACDA | Arms Control and Disarmament Agency |
| ACEP | Advisory Committee on Export Policy |
| ACH | The Automated Clearinghouse |
| ACP | African, Caribbean, and Pacific Countries |
| ACS | The Customs Service's Automated Commercial System |
| ACTPN | Advisory Committee on Trade Policy and Negotiations |
| ACU | Asian Clearing Union |
| ADB | Asian Development Bank |
| ADF | African Development Fund |
| ADF | Asian Development Fund |
| ADF | African Development Fund (Or AfDF) |
| ADFAED | Abu Dhabi Fund for Arab Economic Development |
| ADRs | American Depository Receipts |
| ADS | Agent/Distributor Service |
| AEF | Africa Enterprise Fund |
| AERP | Automated Export Reporting Program |
| AfDB | African Development Bank |
| AFESD | Arab Fund for Economic and Social Development |
| AFREXIMBANK | African Export-Import Bank |
| AFTA | ASEAN Free Trade Area |
| AG | The Australia Group |
| AG | Aktiengesellschaft (German, meaning: "stock company") |
| AGRIS | Agriculture Information System |
| AIB | Arab International Bank |
| AIBD | Association of International Bond Dealers |
| AID | Agency for International Development |
| AIES | Automated Information Exchange |
| AIT | American Institute in Taiwan |
| AKA | Ausfuhrkredit-Gesellschaft (German: Export Credit Establishment) |
| AMF | Arab Monetary Fund |
| AMS | Agricultural Marketing Service |
| AMS | Automated Manifest Systems |
| AMSCO | African Management Services Company |
| AMU | Arab Maghreb Union |
| APDF | Africa Project Development Facility |
| APEC | Asia Pacific Economic Cooperation |
| APO | Administrative Protective Order |
| ARS | African Regional Standards |
| ARSO | African Regional Organization for Standardization |
| ASEAN | Association of Southeast Asian Nations |
| ASP | American Selling Price |
| ATFP | Arab Trade Financing Program |
| ATI | Andean Trade Initiative |
| ATI | American Traders Index |
| ATLAS | Automated Trade Locator Assistance Network |
| ATPA | Andean Trade Preference Act |
| AUMA | (Die) Ausstellungs- und Messe-Ausschuss der Deutschen Wirtschaft (German: the German Industry Council for Exhibitions and Trade Fairs) |
| AVE | Ad Valorem Equivalent |
| AWB | Air Way Bill |
| BANCOMEXT | Banco Nacional de Comercio Exterior |
| BARs | Buy American Restrictions |
| BCIU | Business Council for International Understanding |
| BCS | Border Cargo Selectivity |
| BDI | Both Dates Inclusive |
| BEAC | Banque des ætats de l'Afrique Central French: Bank of Central African States) |
| BECAO | Banque Centrale des ætats de l'Afrique de l'Quest |
| BECC | Border Environment Cooperation Commission |
| BEET | Business Executive Enforcement Team |
| Benelux | Belgium, Netherlands, and Luxembourg |
| BfAi | Bundesstelle fur Aussenhandelsinformation (German: Federal Office for Foreign Trade) |
| BFCE | Banque Francaise du Commerce Exterieur |
| BHC | British High Commission |
| BIE | Bureau of International Expositions |
| BIS | Bank for International Settlements |
| BISNIS | Business Information Service for the Newly Independent States |
| BIT | Bilateral Investment Treaty |
| BLADEX | Banco Latinoamericano de Exportaciones (Spanish: Latin American Export Bank) |
| BLEU | Belgium-Luxembourg Economic Union |
| BMWi | Bundesministerium fur Wirtschaft (German: Ministry for Economic Affairs) |
| BO | Bad Order, Buyer's Option |
| BSA | Bilateral Steel Agreements |
| BTN | Brussels Tariff Nomenclature |
| CABEE | Consortia of American Businesses in Eastern Europe |
| CABEI | Central American Bank for Economic Integration |
| CABNIS | Consortia of American Businesses in the Newly Independent States |
| CAD | Cash Against Documents |
| CAF | Corporaci-n Andina de Foment- (Spanish: Andean Development Corporation) |
| CAP | Common Agricultural Policy |
| CAR | Commercial Activity Report |
| CARICOM | Caribbean Common Market |
| CBAS | Caribbean Business Advisory Service |
| CBD | Commerce Business Daily |
| CBERA | Caribbean Basic Economic Recovery Act |
| CBI | Caribbean Basin Initiative |
| CCC | Canadian Commercial Corporation |
| CCC | Commodity Credit Corporation |
| CCC | Customs Cooperation Council |
| CCCE | Caisse Centrale de CoopŽration Economique |
| CCF | CoCom Cooperation Forum |
| CCFF | Compensatory and Contingency Financing Facility |
| CCITT | Consultative Committee for International Telephone and Telegraphy |
| CCITT | International Telegraphy and Telephone Consultative Committee (French: Comite Consultatif International Telegraphique et Telephonique) |
| CCL | Commerce Control List |
| CCNAA | Coordination Council for North American Affairs |
| CDB | Caribbean Development Bank |
| CDC | Commonwealth Development Corporation |
| CDI | Capital Development Initiative |
| CDT | Center for Defense Trade |
| CE | Communautes Europaenes (Mark) or Conformite Europaene |
| CE | Committee of Experts |
| CE | Consumption Entry |
| CEA | Chinese Economic Area |
| CEAU | Council of Economic Arab Unity |
| CEBB | Customs Electronic Bulletin Board |
| CEFTA | Central Europe Free Trade Association |
| CEN | Comite Europeen de Normalisation(French: European Committee for Standardization) |
| CENELEC | Comite Europeen de Normalisation Electrotechnique (French: European Committee for Electrotechnical Standardization) |
| CEPT | Conference Europeen des Administrations des Postes et des Telecommunications (French: European Conference of Postal and Telecommuications Administration) |
| CERN | Centre Europeen de Recherche Nucleaire (french: European Center for Nuclear Research) |
| CET | Common External Tariff |
| CFIUS | Committee on Foreign Investment in the United States |
| CFR | Cost and Freight |
| CFS | Container Freight Station |
| CGIAR | Consultative Group on International Agricultural Research |
| CHB | Customhouse Broker |
| CHIPS | Clearinghouse of Interbank Payment System |
| CIA | Cash in Advance |
| CIDA | Canadian International Development Agency |
| CIF | Cost, Insurance, and Freight |
| CIMS | Commercial Information Management System |
| CIPs | Commodity Import Programs |
| CIR | Center for International Research |
| CIRS | Commerce Information Retrieval System |
| CIS | Commonwealth of Independent States |
| CISG | Convention on Contracts for the International Sale of Goods |
| CIT | Court of International Trade |
| CITA | Committee for the Implementation of Textile Agreements |
| CLDP | Commercial Law Development Program |
| CMA | Common Monetary Agreement |
| CMEA | Council for Mutual Economic Assistance |
| CPD | Charterers Pay Dues |
| COAP | Cottonseed Oil Assistance Program |
| COCA | Confederation Internationale du Credit Agricole (French: International Confederation of Agricultural Credit, ICAC) |
| CoCom | Coordinating Committee on Multilateral Export Controls |
| COE | Council of Europe |
| COFACE | Compagnie Francaise d' Assurance pour le Commerce Exterieur |
| COM | Costs of Manufacture |
| COMECON | Council for Mutual Economic Assistance |
| COMSAT | Communications Satellite Corporation |
| Conasupo | Compania Nacional de Subsistencias Populares |
| COP | Cost of Production |
| COPANT | Comision Panamericana de Normas Tecnicas (Spanish: Pan American Standards Commission) |
| CORECT | Committee on Renewable Energy, Commerce, and Trade |
| CP | Contracting Parties |
| CPCM | Comite Permanent Consultatif du Maghreb (French: Maghreb Permanent Consultative Committee) |
| CPT | Carriage Paid To |
| CSCE | Conference on Security and Cooperation in Europe |
| CSP | Common Standard Level of Effective Protection |
| CSS | Comparison Shopping Service |
| CSS | Customized Sales Survey |
| CTD | Committee on Trade and Development |
| CTIS | Center for Trade and Investment Services |
| CTLO | Constructive Total Loss Only |
| CTP | Composite Theoretical Performance |
| CUP | Currency-use Payment |
| CWO | Cash With Order |
| CY | Container Yard |
| CY | Container Yard |
| DA | Development Assistance |
| DAC | Development Assistance Committee |
| DACON | Data on Consulting Firms |
| DAEs | Dynamic Asian Economies |
| DANIDA | Danish International Development Assistance |
| DBGLS | Development Bank of the Great Lakes States |
| DCS | Defense Conversion Subcommittee |
| DDO | Dispatch Discharging Only |
| DEC | District Export Councils |
| DEG | Deutsche Finanzierungsgesellschaft fur Beteilgungen in Entwicklungslandern GmbH (German: German Financing Company for Investments in Developing Countries) |
| DEIP | Dairy Export Incentive Program |
| DFA | Development Fund for Africa |
| DISC | Domestic International Sales Corporation |
| DL | Distribution License |
| DLO | Dispatch Loading Only |
| DPA | Defense Production Act |
| DPAS | Defense Priorities and Allocation System |
| DREE | Direction des Relations Economiques Exterieures |
| DTAG | Defense Trade Advisory Group |
| DTC | Defense Trade Controls |
| DTSA | Defense Technology Security Administration |
| DTWG | Defense Trade Working Group |
| DVC | Delivery Verification Certificate |
| DW | Deadweight (ton 2,240 pounds) |
| DWC | Deadweight for Cargo |
| EAA | Export Administration Act |
| EADB | East African Development Bank |
| EAEC | East Asian Economic Caucus |
| EAGGF | European Agricultural Guidance and Guarantee Fund |
| EAI | Enterprise for the Americas Initiative |
| EAON | Except as otherwise noted |
| EARB | Export Administration Review Board |
| EB | Eastbound |
| EBB | Economic Bulletin Board |
| EBRD | European Bank for Reconstruction and Development |
| EC | European Community |
| ECASS | Export Control Automated Support System |
| ECB | European Central Bank |
| ECCB | Eastern Caribbean Central Bank |
| ECCN | Export Control Classification Number |
| ECGD | Export Credit Guarantee Department |
| ECJ | European Court of Justice |
| ECLS | Export Contact List Service |
| ECO | Economic Cooperation Organization |
| ECOSOC | Economic and Social Council |
| ECOWAS | Economic Community of West African States |
| ECSC | European Coat and Steel Community |
| ECU | European Currency Unit |
| EDB | Exporter Data Base |
| EDC | Export Development Corporation |
| EDF | European Development Fund |
| EDIFACT | Electronic Data Interchange for Administration, Commerce, and Transportation |
| EDO | Export Development Office |
| EEA | European Economic Area |
| EE | Errors Excepted |
| EEBIC | Eastern Europe Business Information Center |
| EEP | Export Enhancement Program |
| EEZ | Exclusive Economic Zone |
| EFF | Extended Fund Facility |
| EFT | Electronic Funds Transfer |
| EFTA | European Free Trade Association |
| EIB | European Investment Bank |
| EIS | Export Information System |
| ELAIN | Electronic License Application and Information Network |
| ELAN | Export Legal Assistance Network |
| ELVIS | Export License Voice Information System |
| EMC | Export Management Company |
| EMCF | European Monetary and Cooperation Fund |
| EMI | European Monetary Institute |
| EMS | European Monetary System |
| EN | European Norm |
| EOTC | European Organization for Testing and Certification |
| E&OE | Errors and Omissions Excepted |
| EPC | Economic Policy Council |
| EPC | European Patent Convention |
| EPCI | Enhanced Proliferation Control Initiative |
| EPO | European Patent Office |
| EPZs | Export Processing Zones |
| ERLC | Export Revolving Line of Credit |
| ERM | Exchange Rate Mechanism |
| ERS | Economic Research Service |
| ESA | European Space Agency |
| ESAF | Enhanced Structural Adjustment Facility |
| ESCB | European System of Central Banks |
| ESF | Economic Stabilization Fund, Economic Support Fund |
| ESP | Exporter's Sales Price |
| ETA | European Technical Approval |
| ETC | Export Trading Company |
| ETSI | European Telecommunications Standards Institute |
| ETUC | European Trade Union Confederation |
| EU | European Union |
| EUCLID | European Cooperation for the Long-term in Defense |
| EUREKA | European Research Coordination Agency |
| EURL | Enterprise Unipersonnelle...Responsabilite Limitee (French: "sole ownership limited liability company") |
| EXCEL | Export Credit Enhanced Leverage |
| EXW | Ex Works |
| FAA | Free of All Average |
| FAAS | Foreign Affairs Administrative Support |
| FAK | Freight All Kinds |
| FAO | Food and Agricultural Organization |
| FAS | Foreign Agricultural Service |
| FAS | Free Alongside Ship |
| FAZ | Foreign Access Zone |
| FBIS | Foreign Broadcast Information Service |
| FBP | Foreign Buyer Program |
| FBSEA | Foreign Bank Supervision Enhancement Act |
| FCA | Free Carrier ... (named port) |
| FCIA | Foreign Credit Insurance Association |
| FCO | Foreign and Commonwealth Office |
| FCPA | Foreign Corrupt Practices Act |
| FCSC | Foreign Claims Settlement Commission |
| FCS | Free of Capture and Seizure |
| FD | Free Discharge |
| FETs | Foreign Economic Trends |
| FFA | Free From Average |
| FGIS | Federal Grain Inspection Service |
| FIA | Full Interest Admitted. |
| FIAS | Foreign Investment Advisory Service |
| FIT | Foreign Independent Tour |
| FMC | Federal Maritime Commission |
| FMD | Foreign Market Development Program |
| FOB | Free on Board |
| FOMEX | Fondo para el Fomento de las Exportaciones de Productos Manufacturados |
| FONPLATA | Fondo Financiero Para el Desarrollo de la Cuence del Plata (Spanish: Plata Basin Financial Development Fund) |
| FORDTIS | Foreign Disclosure and Technical Information System |
| FOW | First Open Water |
| FPA | Free of Particular Average |
| FPFS | Fines, Penalties, and Forfeitures System |
| FPG | Foreign Parent Group |
| FSA | Freedom Support Act |
| FSC | Foreign Sales Corporation |
| FSI | Foreign Service Institute |
| FSU | Former Soviet Union |
| FTA | Free Trade Agreement |
| FTD | Foreign Trade Division |
| FTZs | Foreign Trade Zones |
| GAB | General Arrangements to Borrow |
| GATT | General Agreement on Tariffs and Trade |
| GCC | Gulf Cooperation Council |
| GDP | Gross Domestic Product |
| GEF | Global Environmental Facility |
| GEM | Global ExportManager |
| GIE | Groupement d'Interet Economique |
| GmbH | Gesellschaft mit beschrankter Haftung German: "limited liability comopany") |
| GNP | Gross National Product |
| GSP | Generalized System of Preferences |
| GTZ | German Agency for Technical Cooperation, see: Deutsche Gesellschaft fur Technische Zusammenarbeit |
| HHD | Hogshead |
| HS | Harmonized System |
| IACAC | Inter-American Commerical Arbitration Commission |
| IACC | International Anticounterfeiting Coalition |
| IADB | Inter-Amercian Development Bank |
| IAEA | International Atomic Energy Agency |
| IAF | International Accreditation Forum |
| IAIGC | Inter-Arab Investment Guarantee Corporation |
| IATA | International Air Transport Association |
| IAU | International Accounting Unit |
| IBA | International Banking Act |
| IBF | International Banking Facility |
| IBOR | Interbank Offered Rate |
| IBOS | International Business Opportunities Service |
| IBRD | International Bank for Reconstruction and Development |
| ICA | International Commidity Agreement |
| ICAO | International Civil Aviation Organization |
| ICB | International Competitive Bidding |
| ICC | International Chamber of Commerce |
| ICE | Istituto Nazionale per il Commercio Estero Italian: Institute of Foreign Trade) |
| ICFTU | International Confederation of Free Trade Unions |
| ICHCI | International Cargo Handling Coordination Association |
| ICJ | International Court of Justice |
| ICO | International Congress Office |
| ICON | Indexed Currency Option Note |
| ICSID | International Centre for Settlement of Investment Disputes |
| ICSs | Investment Climate Statements |
| ICSU | International Council of Scientific Unions |
| ICTF | Intermodal Container Transfer Facility |
| IDA | International Development Association |
| IDB | International Data Base |
| IDB | Islamic Development Bank |
| IDR | International Depository Receipt |
| IEA | International Energy Agency |
| IEB | International Exhibitions Bureau |
| IEC | International Electrotechnical Commission |
| IEEPA | International Emergency Economic Powers Act |
| IEPG | Independent European Program Group |
| IESC | International Executive Service Corp. |
| IFAD | International Fund for Agricultural Development |
| IFC | International Finance Corporation |
| IFRB | International Frequency Registration Board |
| IFU | Industrialization Fund for Developing Countries |
| IGADD | Inter-Governmental Authority on Drought and Development |
| IGC | Interagency Group on Countertrade |
| IlAP | International Intellectual Property Alliance |
| IIC | Inter-American Investment Corporation |
| ILO | International Labor Organization |
| IMF | International Monetary Fund |
| IMI | International Market Insights |
| IML | International Munitions List |
| IMO | International Maritime Organization |
| INMARSAT | International Maritime Satellite Organization |
| INR | Initial Negotiating Right |
| INTELSAT | International Telecommunications Satellite Organization |
| lOM | International Organization for Migration |
| IP | Initial Payment |
| IPR | Intellectual Property Rights |
| ISDA | International Swaps and Derivatives Association |
| ISLP | Investment Sector Loan Program |
| ISO | International Standards Organization |
| ISONET | International Standards Organization Information Network |
| ISSA | International Social Security Association |
| ITAR | International Traffic in Arms Regulations |
| ITDCs | International Trade Development Centers |
| ITU | International Telecommunication Union |
| IVANS | International Value-Added Network Services |
| lVL | Individual Validated License |
| JCIT | Joint Committee for lnvestrnent and Trade |
| JEIC | Japan Export Information Center |
| JETRO | Japan External Trade Organization |
| JEXIM | Export-Import Bank of Japan |
| JICA | Japan International Cooperation Agency |
| KBO | Kangera Basin Organization |
| KDD | Kokusai Denshin Denwa |
| KFAED | Kuwait Fund for Arab Economic Development |
| KFTA | Korea Foreign Trade Association |
| KfW | Kreditanstalt fur Wiederaufbau (German: Reconstruction Loan Corporation) |
| KG | Kommanditgesellschaft (German, meaning: "limited partnership") |
| KGaA | Kommanditgesellschaft auf Aktien (German, meaning: "limited partnership by shares") |
| KOTRA | Korea Trade Promotion Corporation |
| LA | Letter of Authority |
| LAES | Latin American Economic System |
| LAIA | Latin American Integration Association |
| LC | Letter of Credit |
| LCB | Local Competitive Bidding |
| LCBC | Lake Chad Basin Commission |
| LCL | Less than a Carload Lot |
| L&D | Loss and Damage |
| LDC | Less Developed Country |
| LIB | Limited International Bidding |
| LIBID | London Interbank Bid Rate |
| LIBOR | London Interbank Offered Rate |
| LIFFE | London International Financial Futures and Options Exchange |
| LIMEAN | London Interbank Mean Rate |
| LLDC | Lesser Developed Countries |
| LTL | Less than a Truckload Lot |
| L&R | Lake and Rail |
| MCA | Monetary Compensatory Account |
| MDBs | Multilateral Development Banks |
| MFA | Multi-Fiber Arrangement |
| MFN | Most Favored Nation |
| MHW | Ministry of Health and Welfare |
| MIF | Multilateral Investment Fund |
| MIGA | Multilateral Investment Guarantee Agency |
| MIP | Minimum Import Price |
| MIPRO | Manufactured Imports Promotion Organization |
| MITI | Ministry of International Trade and Industry |
| MOCP | Market-Oriented Cooperation Plan |
| MOFERT | Ministry of Foreign Economic Relations and Trade |
| MOSS | Market-Oriented Sector-Selective |
| MPP | Market Promotion Program |
| MPT | Ministry of Posts and Telecommunications |
| MRAs | Mutual Recognition Agreements |
| MRU | Mano River Union |
| MSA | Multilateral Steel Agreement |
| MTCL | Military Critical Technologies List |
| MTCR | Missile Technology Control Regime |
| NAC | National Advisory Council on International Monetary and Financial Policies |
| NAD Bank | North American Development Bank |
| NAFIN | Nacional Financiera |
| NAFTA | North American Free Trade Agreement |
| NAL | National Agricultural Library |
| NAM | Non-Aligned Movement |
| NASDA | National Association of State Departments of Agriculture OR National Association of State Development Agencies |
| NATO | North Atlantic Treaty Organization |
| NBA | Niger Basin Authority |
| NDER | National Defense Executive Reserve |
| NEA | Nuclear Energy Agency |
| NGO | Non-Governmental Organization |
| NIB | Nordic Investment Bank |
| NIC | National Intelligence Council |
| NIEs | Newly Industrializing Economies |
| NIS | Newly Independent States |
| NOE | Not Otherwise Enumerate |
| NOHP | Not Otherwise Herein Provided |
| NOIBN | Not Otherwise Indicated by Number, Not Otherwise Indexed by Name. |
| NORAD | Norwegian Agency for Development Cooperation |
| NOS | Not Otherwise Specified |
| NPT | Nuclear Non-Proliferation Treaty |
| NRBP | Natural Resource Based Products |
| NRC | Nuclear Regulatory Commission |
| NSC | National Security Council |
| NSDs | National Security Directives |
| NSG | Nuclear Suppliers Group |
| SPF | Not Specifically Provided For |
| NTBs | Non-Tariff Barriers |
| NTDB | National Trade Data Bank |
| NTF | Nigeria Trust Fund |
| NTMS | Non-Tariff Measures |
| NTT | Nippon Telegraph and Telephone Corporation |
| NVOC | NonVessel Owning Carrier |
| OAPEC | Organization of Arab Petroleum Exporting Countries |
| OAS | Organization of American States |
| OATUU | Organization of African Trade Union Unity |
| OAU | Organization of African Unity |
| OBU | Offshore Banking Unit |
| ODS | Operating Differential Subsidy |
| OECD | Organization for Economic Cooperation and Development |
| OECF | Overseas Economic Cooperation Fund |
| OECS | Organization of Eastern Caribbean States |
| OFD | Ocean Freight Differential |
| OHG | Offene Handelsgesellschaft (German, meaning: "general partnership") |
| OIC | Organization of the Islamic Conference |
| OICD | Office of International Cooperation and Development |
| OPEC | Organization of Petroleum Exporting Countries |
| OPIC | Overseas Private Investment Corporation |
| OS&D | Over, Short and Damage |
| PBEC | Pacific Basin Economic Council |
| PCT | Patent Cooperation Treaty |
| PEC | President's Export Council |
| PECC | Pacific Economic Cooperation Council |
| PEFCO | Private Export Funding Corporation |
| PFP | Policy Framework Paper |
| PLCs | Pre-License Checks |
| PSVs | Post-Shipment Verifications |
| PTA | Preferential Trade Area |
| PVOs | Private Voluntary Organizations |
| R&O | Rail and Ocean |
| RC&L | Rail, Canal and Lake |
| RPFB | Russian Project Finance Bank |
| RUlE | Russian Union of Industrialists and Entrepreneurs |
| SA | Sociedad Anonima (Spanish: "incorporated company") OR Societe Anonyme (French: incorporated company) |
| SA de CV | Sociedad Anonima de Capital Variable (Spanish: "variable capital company") |
| SAARC | South Asian Association for Regional Cooperation |
| SABIT | Special American Business Internship Training Program |
| SACU | Southern African Customs Union |
| SADO | Southern Africa Development Community |
| SARL | Societe a Responsabilite Limitee (French: limited liability company) |
| SAS | Societe par Actions Simpliflee (French: "private limited company") |
| SASO | Saudi Arabian Standards Organization |
| SCO | Senior Commercial Officer |
| SC&S | Strapped, Corded and Sealed |
| SDD | Store Door Delivery |
| SDN | Specially Designated Nationals |
| *SDRS | Special Drawing Rights |
| SEA | Single European Act |
| SECOFI | Secretaria de Comercio y Fomento Industrial |
| SED | Shippers Export Declaration |
| SEED | Support for East European Democracy |
| SEPB | State Export Program Database |
| SGA | Selling, General and Administrative |
| SIC | Standard Industrial Classification |
| SICE | Sistema de Informacion al Comercio Exterior (Foreign Trade Information System) |
| SIDA | Swedish International Development Authority |
| SIFIDA | Societe Internationale Financiere pour les Investissements et le Developpement en Afrique |
| SII | Structural Impediments Initiative |
| SIJORI | Singapore-Jahor-Riau Growth Triangle |
| SIMIS | Single Internal Market Information Service |
| SITC | Standard International Trade Classification |
| SL&C | Shipper's Load and Count |
| SL&T | Shipper's Load and Tally |
| SNC | Societe en nom collectif (French: "general partnership") |
| Snc | Societa n Nome Collettivo |
| SNEC | Sub-Group on Nuclear Export Coordination |
| SO | Ship's Option |
| SOAP | Sunflowerseed Oil Assistance Program |
| SpA | Societa Per Azioni |
| SPF | South Pacific Forum |
| Srl | Societa a Responsponsabili a Limitata |
| STELA | System for Tracking Export License Applications |
| STEs | State Trading Enterprises |
| SWIFT | Society for Worldwide Interbank Financial Telecommunications |
| TAA | Trade Adjustment Assistance |
| TAACs | Trade Adjustment Assistance Centers |
| TAC | Technical Advisory Committees |
| TCl | Third Country Initiative |
| TCMD | Third Country Meat Directive |
| TDA | Trade and Development Agency |
| TDO | Table of Denial Orders |
| TEU | Twenty-Foot Equivalent Unit |
| TIB | Temporary Importation under Bond |
| TIC | Trade Information Center |
| TIEA | Tax Information Exchange Agreement |
| TLO | Total Loss Only |
| TNC | Trade Negotiations Committee |
| TNC | Transnational Corporation |
| TOP | Trade Opportunities Program |
| TOR | Terms of Reference |
| TPC | Trade Policy Committee |
| TPCC | Trade Promotion Coordinating Committee |
| TPIS | Trade Policy Information System |
| TPM | Trigger Price Mechanism |
| TPRM | Trade Policy Review Mechanism |
| TRIMs | Trade-Related Investment Measures |
| TRIPs | Trade-Related Aspects of Intellectual Property Rights |
| TSb | Textile Surveillance Body |
| UBO | Ultimate Beneficial Owner |
| UMR | Usual Marketing Requirements |
| UN | United Nations |
| UNCED | United Nations Conference on Environment and Development |
| UNCITRAL | United Nations Commission on International Trade Law |
| UNCTAD | United Nations Conference on Trade and Development |
| UNDP | United Nations Development Program |
| UNEP | United Nations Environment Program |
| UNESCO | United Nations Educational, Scientific, and Cultural Organization |
| -UNFPA | United Nations Fund for Population Activities |
| UNIDO | United Nations Industrial Development Organization |
| UNIDROIT | International Institute for the Unification of Private Law |
| UPEB | Union de Paises Exportadores de Banaro (Spanish: Union of Banana Exporting Countries) |
| US-AEP | United States-Asia Environmental Program |
| USAEDC | United States Agricultural Export Development Council |
| USCIB | United States Council for International Business |
| USML | U.S. Munitions List |
| USTR | United States Trade Representative |
| USTTA | United States Travel and Tourism Administration |
| VAT | Value-Added Tax |
| WACH | West African Clearing House |
| WADB | West African Development Bank |
| WAMU | West African-Monetary Union |
| WAOB | World Agricultural Outlook Board |
| WARC | World Administrative Radio Conference |
| WARDA | West Africa Rice Development Association |
| WCL | World Confederation of Labor |
| WEU | Western European Union |
| WFC | World Food Council |
| WFDFI | World Federation of Development Financing Institutions |
| WFP | World Food Program |
| WHO | World Health Organization |
| WIPO | World Intellectual Property Organization |
| WMO | World Meteorological Organization |
| WTDR | World Traders Data Reports |
| WTO | World Tourism Organization |
| W'T'O | World Trade Organization |
| Y/A | York/Antwerp Rules |