Trade (definition #3)

Exchange of goods and services between countries. The inclination for one country to trade with another is based in large part on the idea of comparative advantage--which says that any country, no mat [..]

Definition The quantity or value of exports and/or imports.

The pure theory of trade constitutes, in principle, no more than an application of the general theory of value, distribution and resource allocation. ...

The exchange of goods between two nations.

A bank that advises an exporter of a letter of credit or bank that sends the original letter of credit to an exporter.

A type of bill of lading used for air transport.

A duty levied for agricultural merchandise or for certain processed products based on special regulations.

A proposed change to a letter of credit.

An amount due customs authorities as a result of importing or exporting merchandise.

Goods that fall under the Common Agricultural Policy (CAP) and are listed in the Annex I List.

The movement of inbound goods in your trading area.

A document that lists as a percentage those parts of a Common Agricultural Policy (CAP) good that are relevant for calculating the restitution rate in goods exports from the EC.

A goods movement certificate that for preferential treatment for goods that are transferred between the European Community and Turkey.

A party granting permission to ship goods.

A system used by exporters to electronically file the Shipper's Export Declaration (SED).

An agreement on the part of an importer's bank to take on the responsibility of paying against a draft.

The party to be paid under a letter of credit (exporter).

Merchandise that has been admitted provisionally into a customs territory without payment of duties and under customs supervision for storage in a bonded warehouse or for shipment to another point.

A customs entry permitting goods to enter a customs warehouse.

The official External Trade (ET) rules classification of EC market-regulated goods.

Goods for which you can apply for restitution when the goods are exported outside of the customs territory of the European Community.

Number that clearly identifies a product as a CAP product.

A customs document used for importing commercial samples and professional equipment that are temporarily duty free.

A document that allows passage of foreign merchandise through a customs territory.

An international commercial term under which the seller's (exporter's) price includes cost, insurance, and freight paid to an inland city.

An international commercial term under which the seller (exporter) pays the freight for the carriage of the goods to a named inland point beyond the ocean port.

A number that identifies specific pharmaceutical products worldwide.

A stamp printed on export papers by the customs office of goods departure during goods export.

A formal certificate in which an exporter identifies the origin of their goods, and the customs authorities have confirmed that this information is correct.

A division of the American Chemical Society located in Columbus, Ohio, USA.

An assessment, levying, entry, notification and collection of customs duties.

A list containing commodities under license restrictions.

A code (from the Harmonized Commodity Description and Coding System) that provides a standard way to identify materials for a country's export and import reporting systems.

The European Community (EC) agricultural market regulations.

A confirmation that you (the exporter) will be paid "at sight" by your bank.

A bank in the exporter's country that guarantees payment of a letter of credit when documents are correct and presented on time.

The approval of export documents by a foreign consulate or other entity required by some countries.

A type of customs entry admitting goods into the commerce of the US.

An ID number for containers in the United States that includes four letters and seven digits, for example ABCD 1234567.

A document that is required for the export of Common Agricultrual Policy (CAP) products.

A customs declaration that includes corrections to a previous customs declaration submitted to the customs authorities in Russia.

An international commercial term under which the seller (exporter) pays the cost of the merchandise and all shipping costs to the named port of destination.

A larger bank in a foreign country that helps a small bank in a host country with business.

Determination of the preferential threshold value.

A regulation on to the reduction of customs duties for importing or exporting goods.

A reduced customs tax rate on the importation or exportation of merchandise.

A reduction of duties levied on imported goods from friendly or neighboring countries.

The date of notification to customs authorities.

The measures necessary for clearing merchandise through customs.

An importer or a person who opens a letter of credit through the person's bank.

A financial institution that puts the requirements for merchandise purchased to be imported into a letter and sends it to a bank in the exporter's country.

A document that proves that a product has been exported.

The customs area in close proximity to an exit for departing from the Customs territory.

A contract between an exporter and an international carrier for transport of merchandise to a specified foreign market overseas.

A maximum quantity of a product that can enter the country each year.

A method of simplifying the customs declaration process.

A document that cannot be used to claim title to cargo.

Processed goods of the Common Agricultural Policy (CAP) of the European Community that contain parts or substances contained in Annex I of the EC treaty.

Action taken within the political and economic framework of the territory regarding import and export that are not related to tariffs.

The refunding of all or part of customs duties paid for importing or exporting goods.

A rate used to calculate the amount of a refund due for customs duties paid for importing or exporting goods.

A document that can be used to claim title to the cargo, as in a "negotiable instrument."

A financial institution that arranges for and handles a letter of credit.

A material authorized to receive preferential duty treatment.

Required where goods are exported from one country to another and both countries have a trade agreement.

A subsidy paid by the European Community (EC) to European traders exporting market-regulated goods to a country outside the EC to enable export of goods at a competitive price.

The amount set in advance by the European Commission, paid to the exporter for export of (Common Agricultural Policy) CAP-relevant goods into a non-EC country.

In this case, the capability of a buyer (importer) to cancel or alter a letter of credit after it has been issued by the buyer's bank.

A Japanese customs organization.

A basic set of operations.

A piece, segment, portion, or prototype of a product used for testing ordemonstration.

An official list of individuals or organizations that are denied certain trade privileges or with whom trade is banned.

A checking of individuals or organizations in an SAP document against the sanctioned party list (denied persons list) to determine whether they have been denied trade privileges.

Statistical classification for exports from the United States of America.

A product in the category of inward and outward processing or another item not included in primary customs processing.

A form used to list commodities including quantities, weight, packaging,and value that are exported to another country.

A letter on a company letterhead that provides the freight forwarder with order information pertinent for a shipment.

A process in which an exporter enters only necessary information in the declaration and submits it to customs authorities.

A customs declaration required for the transfer of commodities in a customs procedure and reexportation.

A system used to transfer letters of credit from bank to bank internationally.

Commodities in this customs category include goods that are brought temporarily into a customs territory, used for a period, and reexported unchanged out of the territory.

A customs declaration that is sent to the customs authorities in Russia preceding the planned delivery of goods.

A procedure in which goods are imported without payment of duty by posting a bond to guarantee that they will be exported out of the customs territory at a later time.

An action taken during the import or export into or out of a customs territory.

A customs procedure to reduce import costs.

The actual results or findings of processing a customs declaration and accompanying documents. This includes taking the necessary measures to assess the customs duties owed.

A person responsible for paying or arranging payment for customs duties.

An international commercial term under which the seller (exporter) must not only pay the cost of the merchandise, all shipping costs to the named port of departure, but also procure marine insurance a [..]

A country from which merchandise is exported.

A currency used for a customs declaration, for example, INTRASTAT currency.

A permission freeing goods of a customs duty to which others are subject.

Rules and regulations of a customs territory.

An office in which customs formalities can be performed.

A process for converting customs goods to a status that allows for commercial exchange, shipping (importing), domestic consumption, inward and outward processing, and exporting.

The following customs procedures require an authorisation and in some situations an evaluation of their economic impact (European Community Customs Code (Art. 84 (1) (b) CC)):

A material master that is transferred to a distributed system landscape from a logistics system to a customs system and, in the customs system, is referred to as "customs product master".

Weight or quantity limitations that are imposed on the import of goods into a customs territory for a particular period of time.

The status of goods from a customs point of view, for example, domestic merchandise or foreign merchandise.

The tax (duty) imposed on imported and exported goods.

An office that is responsible for administering customs regulations.

An individual or a firm licensed in the US by the Customs Service of the US Treasury Department to assist importers with transactions.

A specified quantity of goods whose importation is limited because of weight, value, or other characteristics.

The official act of performing customs procedures in which goods are made available for domestic consumption or are converted to a customs status.

A document used for the submission of information regarding the import and receipt or export and dispatch of goods to customs authorities.

A duty or tax imposed by a government on imported and exported goods.

A building or other secured area in which dutiable goods can be stored, manipulated, or undergo manufacturing operations without payment of duty.

A customs procedure in which foreign merchandise can be brought into a customs territory without levying duties.

In Foreign Trade and Customs, a type of declaration used for submission to customs authorities.

A person who submits a declaration to customs authorities or arranges for a third party to make a customs declaration.

A written confirmation in commercial papers regarding the origin of a product using defined wording as set out in the preference agreement.

Presentation of value of goods to customs authorities.

The payment of a customs tariff at a later date than the date it is due.

An international commercial term under which the the seller (exporter) fulfills the seller's obligation to deliver when the goods have been made available at the named place in the country of imp [..]

An international commercial term under which the seller fulfills the seller's obligation to deliver when the seller has made the goods available to the buyer on the quay (wharf) at the named port [..]

An international commercial term under which the seller fulfills the seller's obligation to deliver when the goods have been made available to the buyer (importer) on board the ship but not clear [..]

A status of merchandise

The processing and trading of goods that have a customs status of domestic goods.

An accuracy checking procedure for foreign trade financial documents.

The actual value of goods for calculating the customs tariffs owed.

An organization established in 1960 by the Stockholm Convention to eliminate tariffs and other restrictions on trade between European Free Trade Association (EFTA) members.

A declaration that the seller has fulfilled the obligation to deliver after making the goods available at the seller's premises to the buyer.

A unique code for classifying materials that require a license. Each legal regulation has a list of the CAP (Common Agricultural Policy) list numbers for which export licenses are required.

Document that is required for exporting Common Agrigultural Policy (CAP) products.

The transport or sending of goods abroad for trade or sale.

The conversion of "domestic merchandise" to the status of "foreign merchandise".

An agency of the United States government that arranges for guaranteed credit for export shipments.

A person responsible for filing the export declaration, who is the owner or authorized keeper of the goods up to the time the goods are accepted by the intended recipient.

A customs procedure involving the transfer of foreign merchandise between two locations in a customs territory without levying customs duties or taking other trading measures into consideration.

The exchange of goods between European Union member nations and countries outside the European Community.

A monthly customs declaration that provides EU authorities with statistics on trade between EU member states and non-EU countries, for example, trade between Germany and the US.

A part of Foreign Trade (FT) that deals with the creation and management of customs declarations and related activities.

A customs declaration that is submitted to the customs authorities in Russia when goods are delivered.

A document used in documentary payments for Foreign Trade.

A type of financial document, for example, a letter of credit.

A public health agency, charged with protecting American consumers by enforcing the Federal Food, Drug, and Cosmetic Act and several related public health laws.

Areas that are not part of the sales volume fiscal territory.

The export and import of merchandise between customs territories.

A log of tasks in the Strategic Cockpit of the Foreign Trade application component.

An organizational structure used by Foreign Trade/Customs when setting up an independent Foreign Trade/Customs processing system on a separate customs server.

Customs terminology for shipments of US$1250.01 or more in value and all shipments under quota.

An international commercial term under which the seller fulfills the seller's obligation to deliver when the goods have passed over the ship's rail at the named port of shipment.

An international commercial term under which the seller fulfils the seller's obligation to deliver when the goods have been placed alongside the vessel on the quay or in lighters at the named por [..]

A declaration that the exporter is responsible for export clearance, packing goods, preparing goods for shipment, and for loading them in the carrier that the customer sends.

A fictitious free trade zone in a customs territory that has been designated as a "duty free zone."

A document stored by the customs authorities that lists the materials your company imports or exports.

A document submitted to the tax authorities by companies in Russia that have imported goods from members of the Customs Union (Russia, Belorussia, and Kazakhstan). In Russian, this document is called [..]

A method of payment used for import and export.

A fee levied each time a ship is loaded or unloaded in a U.S. harbor.

An international standardized system that provides commodity codes and import duty rates for all classes of merchandise.

Since January 1988 the "Harmonized System of goods classification" (HS) from the "Advice for Collaboration between Customs" with its six figure code numbers has been the basis for [..]

A schedule book published by the US Office of Tariff Affairs and Trade Agreements (USITC) that contains commodity codes and duty rates for all countries on all classes of merchandise imported into the [..]

A person responsible for the customs declaration when introducing goods into a customs procedure.

Identity (compliance) of goods with specifications (papers or declarations, for instance).

Identifying a product to ensure that it can be recognized.

The legal customs division of a foreign trade organizational unit into different groups, such as warehousing and production units, branch offices, sub-offices or external offices of a company.

An organization that regulates who can be an IATA agent (air freight forwarder).

An organization that publishes Incoterm books and establishes rules for negotiating a letter of credit (Publication 500).

The exchange of goods between European Union member nations.

A currency conversion rate used in the European statistical offices.

A primary material component as pertains to Common Agricultural Policy in the European Community.

Verification of the originating status of a product valid over an extended period.

A customs status in which commodities are temporarily held at a customs station.

The levying of customs duties or other customs activity for foreign merchandise waived or "suspended" in certain situations.

A country in which merchandise is sold for export.

Official number of the manufacturer's recipe.

A general tariff rate levied for imports from most favored nations.

A category for a financial document, such as a letter of credit.

The refund of all or part of customs duties, or domestic tax paid on imported merchandise that was subsequently manufactured into a different article or re-exported.

The process of notifying vendors to ensure the resubmission of vendor declarations that are about to reach their expiration dates.

The movement of outbound goods in your trading area.

An international commercial term under which the seller fulfills the seller's obligation to deliver when the goods have been made availabl the named place in the country of importation.

A territory, region, or country that is governed by the same customs regulations.

A percentage of the total value of goods that are imported into a customs territory that is levied as a customs tariff.

A party permitted to receive shipped goods.

A monthly declaration to the German customs authorities that records the export of sensitive goods, for example, weapons and goods that can be used to manufacture weapons.

A specification of the laws that apply to the foreign trade activities of a particular country.

An action that involves taking movable goods into the customs territory, that is to say in accordance with foreign trade law from overseas economic areas to domestic economic areas.

A company or person who buys foreign commodities and resells them as domestic goods.

A code (from the Harmonized Commodity Description and Coding System) that provides a standard method of identifying materials for import.

An official certification to import foreign goods.

A tax levied for the import of foreign merchandise into a customs territory for which tariffs are due.

The receiving country into which merchandise is shipped.

A term given to an imported shipment once it clears customs.

Customs entry permitting goods to move between ports under bond.

A process in which the system generates a list of system records or documents with missing or incomplete foreign trade data.

The determination of preferential duty rates for a material.

Customs clearance terminology for most imports into the USA valued at 1,250 US dollars and less.

A letter issued by a bank to obtain payment for goods.

In the SAP System, the approval by an official authority to import or export goods.

A document filed with customs to allow goods to leave a bonded warehouse and to allow duty to be paid at this time.

In the USA, a document that identifies goods imported that are placed in a bonded warehouse.

Verification of the originating status of a product.

Simplified export regulation for Switzerland (Vereinfachte Ausfuhrregelung)

The final recipient of merchandise.