Dictionary of International Trade
Dictionary of International Trade
Dictionary of International Trade
The International Trade Dictionary contains a glossary of 2000 key terms for
international business and trade classified into eight categories encompassing the
full breadth of international trade activities: Banking, Contracts & Law, Customs,
Documentation, Insurance, Logistics, Economics and Marketing. It provides a full
and precise definition of each term, and explains the context in which they are used.
The Dictionary also contains an Annex with the most common acronyms and
abbreviations to be found in international trade documents.
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A
Abandonment. The refusal of merchandise by the designated consignee.
About. A letter of credit term meaning plus or minus 10% of whatever immediately
follows. The terms approximately and circa are synonymous.
Abrogation. The cancellation of the part of a contract that has not yet been performed. For example, if parties agree to several deliveries of goods, but after the first
delivery, war is declared in the buyers country and no further goods can be delivered,
the buyer must pay the first delivery, but the contract is abrogated for the remaining
ones. See force majeure clause; war risk.
Absolute advantage. In the theory of international trade an absolute advantage occurs
when a country or company is more efficient (using fewer resources) at producing the
same good or service than another country or company. This theory was first suggested
by British economist Adam Smith in the 18th century. See comparative advantage.
Acceptance. The act of formally acknowledging a debt by signing a financial instrument called a draft. When done by a non-bank party, a trade acceptance is created.
When done by a bank, a bankers acceptance is created. See bank acceptance.
Acceptance date. The date on which a draft was signed. For drafts drawn at X days
from sight, the acceptance dates begins the time period toward maturity.
Acceptance letter of credit. A letter of credit, which requires, amongst the documents
stipulated, provision of a term bill of exchange. The bill is then generally accepted by
the bank on which it is drawn or discount. The practical result is that the beneficiary
is paid promptly at a discount.
Accepting bank. In a letter of credit, this is the financial institution that executes a
bankers acceptance.
Accessions. Goods that are affixed to and become part if other goods. Examples
includes semiconductors that are inserted into computers, parts that are added onto
vehicles, or dials that are used in watches.
Accessorial charges. In shipping, charges made for additional, special or supplemental services, normally over and above the line haul services. Common accessorial charges include: congestion surcharges, currency adjustment factors (CAF) and
terminal handling charges (THC). Also called surcharge.
Accord and satisfaction. A discharge of a contract or cause of action pursuant to
which the parties agree (the accord) to alter their obligations and to perform new
obligations (the satisfaction). For example, a seller who cannot obtain red fabric to
meet the contract specifications may enter into an accord and satisfaction to provide
the buyer with blue fabric for a slightly lower price.
Acknowledgement. 1. Confirmation of receipt of a purchase order. 2. Confirmation
sent by a bank confirming receipt of a collection.
ACP Countries. African, Caribbean and Pacific countries is a group of countries
with preferential trading relations with the EU under the former Lom Treaty now
called the Cotonou Agreement. This agreement is aimed at the reduction and eventual
eradication of poverty while contributing to sustainable development to permit the
gradual integration of ACP countries into the world economy.
Act of God. The operation of uncontrollable natural forces. This expression is used
in force majeure contract clauses that excuses a party who breaches the contract when
performance is prevented by the occurrence of certain events. See force majeure
clause.
Ad valorem duty. Latin expression that means according to the value. Import duties
or taxes expressed as a percentage of value. For example, the import duty for a product
classified under Harmonized System 220421 is 4.5 per cent of the customs valuation.
Its acronym is A.V. or Ad Val. See tariff.
Adhesion contract. Contract with standard, often printed terms of sale of goods
or services offered to consumers who usually cannot negotiate any of the terms and
cannot acquire the product unless they agree to the terms.
Advisory capacity. A term indicating that an agent or representative is not empowered to make definite decisions or adjustments without approval of the principal
represented. This is the opposite of without reserve.
Affidavit. A statement sworn under oath before an authorized official.
Affiliate company. A Company that is less than 50% owned by a parent company;
the parents acts as minority shareholders. More loosely, this term is sometimes used
to refer to companies that are related to each other in some way. In recent years, the
concept of the affiliated company has also come to be applied to businesses that are
affiliated with the same industry, and choose to forge an ongoing business relationship and sharing of resources to the mutual benefit of both entities. See subsidiary.
Affreightment. A contract between a shipper and a carrier, setting forth their respective transportation obligations. Its is a synonym for charter.
Afloat. Refers to a shipment of cargo that is currently onboard a vessel between ports,
as opposed to on land.
After date. In banking, a notation used on financial instruments (such as drafts or bill
of exchange) to fix the maturity date as fixed number of days past the date if drawing
of the draft. For example, if a draft stipulates 30 days after date, it means that the
draft is due (payable) 30 days after the date it was drawn. This has the effect of fixing
the date of maturity of the draft, independent of the date of acceptance of the draft.
See acceptance date; after sight; bill of exchange; drawee.
After-sale service. A collective term for attention to a transaction that normally
takes place after the sale (and often after delivery) is accomplished. Typical after sale
service functions include: installation, training, warranty-related repair and replacement part support. After-sale service is an extremely important consideration because
of the normally greater distances between sellers and buyers in international trade.
Some international contracts as distribution contracts include a clause of after-sales
services and maintenance: The Distributor undertakes to carry out with its own staff
and means, and assume the costs of, and adequate after-sales and maintenance service for
all Products sold within the Territory. The Supplier shall provide the Distributor with the
spare parts and other means required to service the warranty conditions of the Products.
See maintenance. International Distribution Contract.
After sight. In banking, a notation on a draft that indicates that the payment is due
a fixed number of days after the draft has been presented to the drawee. For example,
60 days after sight means that the drawee has 30 days from the date of presentation
of the draft to make payment. See acceptance date; after date; bill of exchange;
drawee.
Agenda. The list of topics to be covered during a negotiation session. An agenda
may be arranged in either ascending or descending order of importance. The side
that exerts the greatest control of the agenda will be the most effective in attaining
their goals. Negotiation session strategy will be based on the agreed upon agenda.
See negotiations.
Agent. An independent person or legal entity, which acts on behalf of another (Principal). In international transactions, this term normally refers to a sales representative
who prospects on behalf of a foreign principal, earning a commission on sales eventually concluded between the principal and the ultimate client. This is distinguished
from sales through employees and subsidiaries - that are not independent - or through
distributors buying and reselling in his or her own name. Sales Agents should also be
distinguished from buying agents, as their respective rights and obligations are quite
different. In international trade, relationships between agents and their clients (principals) are regulated through a Model of International Commercial Agent Contract.
See brokerage; distributor, sales representative.
Agio. The extra amount over and above the market price which is paid in counter
trade transactions and results from the particular costs of countertrade.
Air freight. A service providing for the air transport of goods. The volume of air
freight has been increased dramatically due to: decreasing shipping time: greater
inventory control for just in-time manufacturing and stocking, generally superior
condition of goods upon arrival, and, for certain commodities, lower prices.
Air freight consolidator. A company that obtains a low freight-of-all-kinds freight
rate from air carrier in return for volume, and consolidates small shipments, often to
fill air freight containers. Such companies often perform forwarding tasks and issue
their own house air waybills to each shipper, backed up by master air waybills
Aircraft pallet. A platform or pallet (in air freight usually from 3/4 to 2 thick)
upon which a unitized shipment tests or on which goods are assembled and secured
before being loaded as a unit onto aircraft. Most carriers offer container discounts for
palletized loads. See pallet.
Airport-to-airport. The main carriage transportation movement from departure airport on the sellers side to the arrival airport on the buyers side.
ALADI. The Latin American Integration Association is an international and regional
scope organization created in Latin America in 1980. Currently, it has 13 member
countries, and any of the Latin American states may apply for accession. Website.
All risks (AR). The broadest type of standard marine insurance coverage generally
available and offered by the London Institute of Underwriters A Clauses. The name
is misleading, as all risks does not include coverage for the perils of war risk, strike,
riot and civil commotion. These additional coverages are available for most markets,
usually at modest additional premiums in the market. Since there is no worldwide
standard nomenclature for all risks coverage, traders should determine exactly what
is/is not covered, and arrange for any additional coverage they deem necessary.
Allowance. An amount paid or credited by a seller as a refund or reimbursement
due to any one of a number of causes including: faulty packaging, shipment of good
which do not meet buyers specifications, a late shipment, etc.
Alongside. A phrase referring to the side of a vessel: goods to be delivered alongside
are to be placed on the dock or lighter within reach of the transport ships tackle so
Applicant. The party applying for the issuance of a letter of credit. It is also called
the account party.
Application. In a letter of credit, instructions from the applicant to the issuing bank
to open it.
Application to qualify. An application by a supplier to be included in an agencys
pre-qualified suppliers list. A supplier must prove it has the capability and capacity to
deliver specific types of goods, services, or works to be included in the list
Appraisement. Determination of the dutiable value of imported merchandise by a
customs official who follows procedures outlined in their countrys tariff.
Appreciation. In foreign exchange, an increase in the value of the currency of one
nation in relation to currencies of other nations.
Arbitrage. The simultaneous buying and selling of the same commodity or foreign
exchange in two or more markets in order to take advantage of price differentials.
See hedging.
Arbitration. A process of dispute resolution in which a neutral third party (arbitror)
renders a decision after a hearing in which both parties have an opportunity to be
heard. Arbitration may be voluntary or contractually required. The advantages of
arbitration - as opposed to litigation - are neutrality, confidentiality, reduced costs,
faster procedures and the arbitrators expertise. Internationally, the main arbitration
10
Assignee. A party to whom all or part of the procedures of a letter of credit have been
formally pledged, usually through a bank.
Assignment. 1. In law, the transfer of rights, title, interests and benefits of a contract
or financial instrument to a third party. 2. In letters of credit, the beneficiary of the
letter of credit is entitled to assign his/her claims to any of the proceeds that he/
she may be entitled to, or portions thereof, to a third party. Usually the beneficiary
informs the issuing or advising bank that his/her claims or particle claims under the
letter of credit were assigned and asks the bank to advise the assignee (third party) that
it has acknowledged the assignment. The validity of the assignment is not dependent
on bank approval. In contrast, the transfer requires the agreement of the nominated
bank. An assignment is possible regardless of whether the letter of credit is transferable. See letter of credit.
Assignor. A letter of credit beneficiary who formally pledges all or part of the L/C
procedures to one or more third parties, usually by executing an assignment of proceeds document at a bank.
Assist. A customs term for types of help rendered to a seller by a buyer, such as production tooling, design work, etc. Under certain circumstances, in some countries,
the dutiable value of imported goods must be increased by the value of assists.
At sight (AS). Term indicating that whatever action it pertains to must be undertaken
immediately. This term is commonly used on drafts accompanying bank collections to
indicate that they are immediately payable (as soon as the drawees see them). However,
in practice, payments are often deferred until the arrival of the goods covered by such
collections, since the buyers have no need for accompanying documents until then.
A draft drawn at sight are also frequently required by letters of credit.
At X days date. Term used in drafts to indicate that they are payable at some future
time after they are presented.
ATA Carnet. An ATA (Admission Temporary Admission) Carnet is an international
customs document that allows the temporary importation of commercial samples,
professional equipment, or goods going to a trade fair or exhibition in countries that
are part of the ATA Carnet system. The system covers over 70 nations and territories
in Europe, North America, South America, Asia, Africa and Oceania. Without this
document you would have to go through each individual countrys customs procedures for the temporary admission of goods. An ATA Carnet is valid for one year and
allows for movement of the goods shown on the Carnet as many times as required
during that period to any of the destinations applied for. The national organizations
affiliated to ATA guarantee the payment of duties to local customs authorities, should
the goods not ultimately be re-exported. Applications for an ATA Carnet shall be done
in exporters local Chamber of Commerce. Model of ATA Carnet.
ATR Declaration. Exporters of the European Union with customers in Turkey require
11
12
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INTERNATIONAL
TRADE TERMS BY
CATEGORIES
14
BANKING
credit
Convertibility
Bank acceptance
Convertible currency
About
Bank draft
Correspondent bank
Acceptance
Bank guarantee
Country risk
Acceptance letter of
credit
Bareboat charter
Beneficiary
Crossed check
Bid bond
Currency
Bill of exchange
Currency future
Blank endorsement
Currency option
Bottom line
Current account
Call option
Current balance
Capital account
Date draft
Default
Cash in advance
Accepting bank
Acknowledgement
Advance payment
Advance payment
guarantee
Advised letter of credit
Advising bank
After date
After sight
Allowance
Amendment
American option
Applicant
Application
Appreciation
Arbitrage
Assignee
Assignment
Assignor
At sight
At X days date
Availability
Aval
Back letter
Back order
Back to back letter of
Cash on delivery
Cash with order
Clean collection
Clean draft
Clean float
Clean letter of credit
COFACE country risk
Collateral
Collecting bank
Collection
Collection fee
Collection letter
Comfort letter
Commercial risk
Confirmed letter of credit
Confirming
Confirming bank
Del credere
Demand guarantee
Depreciation
Devaluation
Dirty float
Discount
Discrepancies
Documentary collection
Documentary credit
Documentary
instructions
Domicile
Draft
Drawee
Drawer
Drawing
Due diligence
15
Endorsement
In trust (documents)
Overdraft
Endorsee
International
Arrangement on Export
Credits
Par value
Endorser
Escrow account
eUCP
European option
Evergreen letter of credit
Exchange control
Parity
Payee
Payer
Paying bank
Payment at sight
Payment in advance
Exchange rate
International Finance
Corporation
Exchange risk
Expiration date
Issuance
Performance bond
Expiry date
Issue date
Portfolio investment
Factoring
Issuing bank
Postdated check
Fixing
Key currency
Pre-advice
Foreign currency
Letter of credit
Presentation date
Letter of Indemnity
Principal
Foreign exchange
Leverage
Promissory note
Forfaiting
Put option
Forward rate
Market risk
Forward exchange
contract
Maturity date
Reimbursing bank
Merchants credit
Remittance
Money order
Remittance following
collection
Multicurrency clause
Negotiating bank
Negotiation
Nostro account
Oanda
Open account
Option
Original documents
Outright
Payment terms
Remitter
Remitting bank
Reserve currency
Restitution
Restricted letter credit
Revaluation
Revocable L/C
Revolving L/C
16
Risks analysis
Usance L/C
Boilerplate clauses
Rollover credit
Validity
Bracketed
Vostro account
Break clause
Settlement date
Business cooperation
contract
Calvo doctrine
Silent confirmation
Soft currency
Spot cash
Spot exchange
Spot exchange rate
Spot market
Spot price
Spot rate
Standby L/C
Stop loss order
Straight L/C
Strike price
SWIFT
Capacity to contract
Abrogation
Carriage contract
Caveat emptor
Act of God
CIETAC
Adhesion contract
Civil Law
Advisory capacity
Claimant
Affidavit
Commercial in
confidence
Affreightment
Alternative Dispute
Resolution
Amendment
Time draft
Annex
Trade acceptance
Arbitration clause
Trade finance
As is
Transferable letter of
credit
Assignment
Trust receipt
UCP 600
Unconfirmed letter of
credit
Uniform Rules for
Collections
Uniform Rules for
Contract Guarantees
Usance draft
Attachment
Attorney-in-fact
Authentication
Avoidance of contract
Bad faith
Bailee
Bailment
Bearer
Bearer document
Commercial sensitive
information
Commission sales
agreement
Common Law
Confidential information
Confidentiality
agreement
Conflict of laws
Consignment contract
Contract guarantee
Contract manufacturing
Contracting parties
Contractual joint venture
Copyright
Counterparty
Deal breaker
Devils advocate
Domicile
17
End date
Ipso jure
Notary public
Equivalence
Joint venture
EUR-Lex
Jurat
OEM Original
Equipment
Manufacturing
European Economic
Interest Grouping
Juridical person
Exculpatory clause
Execution
Exhibit
Expatriate contract
Know-how
Language clause
Legal entity
Letter of Intent
Lex mercatoria
Open-end contract
Paramount clause
Parent company
Paris Convention
Partnership
Patent
License agreements
Patent Cooperation
Treaty
Licensee
Power of attorney
Licensor
Premises
Limitada (Ltda.)
Prescription period
Limitation period
Prima Facie
Limited (Ltd.)
Principal
Limited liability
Protest
Limited partnership
Proxy
Liquidated damages
Rescind
Ice clause
Restitution
Import contract
London Court of
International Arbitration
Integrated contract
Madrid Agreement
Intellectual Property
Rights
Manufacturing license
agreement
International agreement
Mediation
International Center of
Dispute Resolutions
Memorandum of
Understanding
International franchising
Export contract
Fast track
Force majeure clause
General conditions of
international sale
General partnership
GmbH Gesellschaft mit
beschrnker Haftung
International
procurement
International sales
contract
NDA Non-disclosure
agreement
Royalties
Schedule
Severability clause
Sociedad Annima S.A.
Sociedad de
Responsabilidad Limitada
S.R.L.
Societ Anonyme S.A.
Societ Responsabilit
Limite S.R.L.
Strike clause
18
Subrogation
Assist
Supply contract
ATA Carnet
Downstream dumping
Termination of contracts
ATR Declaration
Dry port
Automated clearing
house
Drawback
Third-party beneficiary
Title transfer
Trade Act
Trademark
Trademark license
agreement
Trade secret
Turnkey contract
Tying arrangement
UNCITRAL
Unenforceable contract
UNIDROIT
Valuation clause
Vendor agreement
Vienna Convention
Voidable contract
Waiver
Warranty
Bonded warehouse
Border protection
Brussels Tariff
Nomenclature
Certificate of conformity
Certificate of Origin
Certification of Origin
Form A
Clearance
Combined Nomenclature
Commercial value
Common external tariff
Compound duty
Consular visa
Countervailing duties
Customs
Customs area
Dumping
Duty
Duty paid
Excise tax
Export clearance
Gateway
General tariff
Generalized System of
Preferences
Global quota
Global Trade Alert
Harmonized System
HS 6-digit
Import clearance
Import duty
Import license
Import quota
Import restrictions
Without prejudice
Customs bonded
warehouse
WIPO
Customs broker
Intrastat
Customs classification
Licence
Customs clearance
Customs duty
Customs entry
CUSTOMS
Ad valorem duty
APHIS
Apraisement
Article of extraordinary
value
Customs invoice
Customs valuation
Direct tax
Indirect tax
Non-tariff barriers
Normal value
Rules of origin
19
SAD
Airport-to-airport
Carriage contract
Sales tax
Alongside
Carrier
Sanitary measures
SITC
Specific duty
Tariff
Tariff biding
Tariff escalation
Tariff quotas
Tax haven
Trade barriers
Trade facilitation
Trigger price mechanism
Variable levy
VAT
WCO
Zeroing
LOGISTICS
Abandonment
Accessions
Accessorial charges
Advice of shipment
Affreightment
Afloat
Air freight
Air freight consolidator
Air freight forwarder
Air waybill
Aircraft pallet
American pallet
Apparent damage
Apparent good order and
condition
Arrival notice
As freighted
Back letter
Backhauling
BAF
Bale
Barrel (Bbl.)
Cartage
Cartment
CFR Cost and Freight
CFS Container Freight
Station
CFS/CFS
CFS Charge
CFS Receiving Services
Chargeable Weight
Charges collect
Charter party
Base port
Bill-to party
Checker
Bonded warehouse
Chock
Bordereau
Breakbulk
Bridgeport
Broken stowage
CIM Transport
document
Brokerage
Bulk cargo
Bulk carrier
Bulk freight
Cabotage
Captains protest
Car seal
Cargo
Cargo agent
Cargo manifest
Clean receipt
Clean report of findings
Clean transport
document
20
CMR Transport
document
Collect charges
Combined transport
Combined transport
document
Compact palletization
Country of destination
Detention charges
Country of origin
Devanning
Dimensional weight
Currency adjustment
factor
Discharge
Cut-off time
Compatible cargo
DAF Delivered at
Frontier
Concealed damage
Dangerous goods
Congestion surcharge
Dangerous Goods
Declaration
Consignee
Consignee marks
Consignment
Consignment contract
Consignor
Consolidated container
Consolidated shipment
Consolidation
Consolidator
Container
Container freight station
Container handling
charge
Container manifest
Dock
Dock receipt
Door-to-airport
Door-to-door
Door-to-port
Drayage
DAT Delivered at
Terminal
Drum
Dry port
Entrepot
ETA Estimated time of
arrival
ETD Estimated time of
departure
Eurobox
Deck cargo
Ex Cellar
Deconsolidation point
Container number
Delivery
Container rental
surcharge
Delivery instructions
Delivery lead time
Container terminal
Demurrage
Container vessel
Container yard
Containerizable cargo
Destination delivery
charge
Country of departure
Dispatch money
Destuffing
EURO-pallet
Ex Factory
Export marks
Export packing
EXW Ex Works
FAK Freight of all kinds
FAS Free Alongside
FCA Free Carrier
FCL Full Container Load
Feeder vessel
FEU Forty-foot
equivalent unit
FHEX
FHINC
FIATA
FIFO First in, first out
FILO First in, last out
FIO Free in and out
FIOST Free in, out,
stowed and trimmed
Flag carrier
Flag of convenience
Flotsam
FOB Airport
FOB Free on Board
FOR Free on Rail
Fork lift
Foul bill of lading
21
Future contract
Inducement
Gauger
Inland carrier
Inherent vice
General order
Intended
Gross tonnage
Interline
Gross weight
Intermediate consignee
Groupage
Intermodal transport
Guaranteed freight
International Container
Bureau
Hague Rules
Hamburg Rules
Harbor fees
Hatch
Haulage
Hazardous materials
Heavy lift
High cube
International Maritime
Organization
International Road
Transport Union
International Road
Transportation
Convention
Inward foreign manifest
Hinterland logistics
ITU Intermodal
transport unit
Hold
Jetsam
Jettison
Knot
House-to-house
Landbridge
Hub system
Landed costs
Husbanding
Landed value
Landlocked
Freight collect
Lay order
Freight forwarder
Freight prepayable
In-bond
Freight prepaid
Inbound logistics
Freight rebate
Incoterms
Lashing
Laytime
LCL
LLCL/FCL
LCL/LCL
22
Language clause
Neutral marks
Port of loading
NOR
Port-to-port
Lift-On/Lift-Off (Lo/Lo)
Pre-carriage
Lift truck
Notify address
Preferential cargo
Lifting cart
Notify party
Prepaid
Lighterage
NVOCC
Pre-shipment inspection
Line haul
On-board B/L
Quay
Liner service
On-board notation
Range
Liner shipping
On-carriage
Liner terms
On-deck
Reefer container
Loading
Revenue ton
Logistics platform
Outbound logistics
Reverse logistics
Packaging film
Roll-on/roll-off
Longshoreman
Pallet
Rounding
Pallet loader
Running days
Main carriage
Pallet transporter
Said to contain
Manifest
Palletizing
SHEX
Partial shipment
SHICN
Measurement cargo
Particular average
Shipbroker
Measurement ton
Shipment
Merchants haulage
Pier-to-house
Shipment date
Pier-to-pier
Shipped on deck
Piggyback logistics
Shipper
Multimodal transport
Place of delivery
Multimodal transport
operator
Place of receipt
Shippers letter of
instruction
Named place
NESOI
Net terms
Net tonnage
Net weight
Point of origin
Port of call
Port of debarkation
Port of embarkation
Port of entry
Port of exit
23
Cargo insurance
certificate
Short delivery
Trimming
Short-shipped
Tri-temp
Side loader
ULD
Side-door container
Unclaimed freight
Sling
Undercarrier
Steamship agent
Unit load
Steamship line
Unitization
Stevedore
Valuation charges
Storage
Vanning
Storage demurrage
VOCC
Storage in transit
Warehouse receipt
Store-door delivery
Warsaw Convention
Stowage
Weight
Straight B/L
Wharf.
Stripping
Wharfage
Wharfinger
Stuffing
W/M L
Certificate of weight
TEU Twenty-foot
equivalent unit
DOCUMENTATION
CITES
Acknowledgement
Air waybill
Arrival notice
Clean receipt
ATA Carnet
ATR Declaration
Clean transport
document
Surcharge
Third-party logistics
Through bill of lading. L.
Through rate
Time bar. L
Time charter
Trade documents
Tradeoffs
Tramp vessel
Transit zone
Transshipment
Cargo manifest
Cartment
Certificate of analysis
Certificate of authority
Certificate of conformity
Certificate of free sale
Certificate of health
Certificate of inspection
Certificate of
manufacture
Certificate of Origin
Certification of Origin
Form A
Certificate of
radioactivity
Certified invoice
Claused bill of lading
Bill of adventure
Bill of exchange
Bill of lading B/L
CMR Transport
document
Bill of parcels
Combined transport
document
Binder
Commercial invoice
Captains protest
Consular declaration
24
Consular documentation
Letter of assignment
Sanitary certificate
Consular invoice
Letter of correction
Sea waybill
Container manifest
Letter of credit
Container number
Letter of Indemnity
Cover note
Letter of Intent
Customs invoice
Letter of Introduction
Standby L/C
Dangerous Goods
Declaration
Manifest
Statement of Work
Master form.
TIR Carnet
Mates receipt
Trust receipt
Documentary instructions
Warehouse receipt
Documents against
acceptance
Documents against
payment
Negotiable instrument
Delivery instructions
Delivery note
Delivery order
EDI
Negotiable warehouse
receipt
EDIFACT
No comercial value
EUR 1 Movement
Certificate
Non-negotiable B/L
Export declaration
Export license
Expression of interest
FBL FIATA Bill of Lading
FCR Forwarders
certificate receipt
Foul transport document
General conditions of
international sale
Halal certificate
Proof of delivery
Insurance certificate
Purchase order
Kosher certificate
Legalized invoice
Receipt
Waybill
INSURANCE
All risks
Average
Brokerage
Carrier liability limit
Casualty
Contingency insurance
COFACE Country Risk
Country risk
Cover note
Damages
Del credere
Delay clause
Deviation clause
Free of capture and seizure
Free of particular average
Indemnity
Insurance coverage
Insurance policy
Insurance premium
Insured
Insured value
International
Underwriting Association
of London
Know loss
Lloyds Register
Marine cargo insurance
Open policy
Particular average
Party at risk
Pilferage
Premium
Reinsurance
Salvage
Salvage loss
Self insured
Special marine policy
Sue and Labor clause
Surety
Surveyor
War risk
War risk insurance
Warehouse-to-warehouse
clause
With Average
Comparative advantage
Compensatory trade
Insurable interest
Insurance broker
25
ECONOMICS
Absolute advantage
ACP Countries
ALADI
Andean Community
Antitrust
APEC
ASEAN
Balance of payments
Balance of trade
Barter
Basel Convention
Berne Convention
Bilateral trade agreement
Blockade
Boycott
Bribery
Buffer stocks
Build-Operate-Transfer
Buy-back
Capital account
CARICOM
Compensation deal
Competitive intelligence
Comtrade
Counterpurchase
Countertrade
Current account
Current balance
Customs union
Default
Developing countries
Distorsion
Doing Business Proyect
Duopoly
Economic integration
Economic union
Embargo
Enabling clause
Eurostat
Ex ante, ex post
Expatriate
Export
Export incentives
Cartel
Export-performance
measure
Charg daffaires
Circumvention
Export quota
Commercial treaty
Export subsidies
Commodity
Common market
Free trade
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Outsourcing
After-sale service
Parallel imports
Agenda
Gold standard
Parent company
Agent
Global Competitiveness
Report
Perfect competition
Agio
Post-tender-negotiation
Application to qualify
Assembly operations
Price undertaking
BATNA
Procurement
Protectionism
Born global
Brokerage agreement
Quality
Holding company
International procurement
JETRO
Keiretsu
Key performance
indicators
Know-how
Lead time
Less developed country
Lesser developed country
Managing director
MERCOSUR
MIGA
Money laundering
Monopoly
Monopsony
Multilateral agreement
Mutual Recognition
Agreements
Quality assurance
Quality control
Quantitative restrictions
Quota
Re-exports
Retaliation
Revaluation
Risks analysis
Safeguards
Sanction
Sister company
SMEs
NAFTA
Smuggling
Nearshoring
Sovereign default
Non-tariff barriers
Sovereign risk
Offset requirements
Offshoring
Oligopsony
Oligopoly
Opportunity cost
MARKETING
Accessions
Affiliate company
Business culture
Buying agent
CCC Mark
CE Mark
CEO
Chaebols
Co-branding
Collusion
Commercial agency
Commercial counselor
Commercial
counterfeiting
Commercial presence
Commission
Commission agent
Commissioning
Competitive intelligence
Comtrade
Confirming house
Contract manufacturing
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Counterfeit
Losing face
Counteroffer
Technical specifications
Cross-culture business
Terms of sale
Cultural differences
Markup pricing
Territory
Deadline
Master franchise
Trade fair
Distributive bargain
Multidomestic strategy
Trade Map
Distributor
Net price
Trademark
DUNS number
Net profit
Trade mission
E-auction
Piggyback distribution
Trade name
E-marketplace
Premium
Europages
Price differentiation
Trade promotion
organizations
Exclusive distribution
Price standardization
Export broker
ProChile
ProExport
ProMxico
Export management
company
Purchasing agent
Export manager
Expression of interest
Facilitation payment
Flagship store
Grey market
Guanxi.
High context cultures
ICEX
Intermediary
International franchising
International service
provider
KISS
Kompass
KOTRA
Quotation
Representative office
Request for information
Request for proposal
Request for quotation
Request for tender
Reverse option
Sales agent
Sales representative
Sample
Shop in shop
Sogo Shosha
Strategic alliance
Supplier
Supplier appraisal
Trading company
Transaction value
Transfer pricing
TSNN
UBIFRANCE
Unique selling proposition
Value for money
Win-lose strategy
Win-win strategy
Zero-sum game
ABBREVIATIONS
AND
ACRONYMS
USED IN
INTERNATIONAL
TRADE
29
AN - Arrival notice.
AR - All risks.
Av. - Average.
AS - At sight.
APEC - Asia-Pacific Economic
Cooperation.
ASEAN - Association of Southeast
Asian Nations.
AWB - Air waybill.
Bbl - Barrel.
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CN - Combined Nomenclature
COD - Cash on delivery.
COFACE - Compagnie Franaise
dAssurance pour le Commerce
Extrieur.
COO - Chief Operating Officer.
CPT - Carriage Paid to.
CS - Container shipment.
CSC - Container service charge.
CTD - Combined transport
document.
CY - Container yard.
Cw - Commercial weight.
EU - European Union.
EXIMBANK - Export-Import Bank
of the United States.
EXW - Ex Works.
FAK - Freight of all kinds.
D/D - Delivered.
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FB - Freight bill.
GA - General average.
FD - Free domicile.
FDI - Foreign Direct Investment
F&D - Freight and demurrage.
FEU - Forty foot equivalent unit.
FHEX - Fridays and holidays are
excluded.
FHINC - Fridays and holidays are
included.
FI - Free in.
FIATA - International Federation of
Freight Forwarders Association.
FIATA - FFI Forwarding Instructions.
FIFO - First in, First out.
FILO - First in, Last out.
FIO - Free in and out.
FIOST - Free in, out, Stowed and
Trimmed.
FO - Free out.
FOB - Free on Board.
Foc - Free of charge.
Fod - Free of damage.
FOI - Free in and out.
FOR - Free on Rail.
FOREX - Foreign Exchange.
FOT - Free on Track.
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Inv. - Invoice.
LO/LO - Lift-On/Lift-Off.
MOU - Memorandum of
Understanding.
MTAs - Mutual Recognition
Agreements.
M/T - Metric ton.
MTO - Multimodal transport
operator.
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NE - Not exceeding.
NES - Not elsewhere specified.
NESOI - Not elsewhere specified or
indicated.
NDA Non-disclosure agreement.
N/F - No funds.
NOR - Notice of readiness.
NOS - Not otherwise specified.
N/S/F - Not sufficient funds.
NTBs - Non-tariff barriers.
NVOCC - Non-vessel-operating
common carrier.
NYMEX - New York Mercantile
Exchange.
OECD - Organization for
Economic Cooperation and
Development.
OEM - Original Equipment
Manufacturing.
O/N - Order notify.
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TC - Time charter.
35
MODEL CONTRACTS
INTERNATIONAL CONTRACTS (ENGLISH, SPANISH, FRENCH, GERMAN & PORTUGUESE)
Distribution Contract
Commercial Agency Contract
Sales Representative Agreement
Commission Contract
Joint Venture Contract
Services Provider Contract
Consulting Contract
Strategic Alliance Agreement
Franchise Contract
Supply Contract
Pack 12 Commercial Contracts (Premium)
ATA Carnet
Packing List
Phytosanitary Certificate
Kosher Certificate
Halal Certificate