A-B-C |
D-E-F |
G-H-I |
L-M-N |
O-P-Q-R |
S-T-V-W-Y-Z
The following list of terms are relevant to International Trade (black), Import/Export (black), and Foreign-Trade Zone procedures (red).
- A.1: First Class Condition.
- A.A.R.: Against all risks.
- Acceptance: An agreement to purchase goods at a stated price and under stated terms.
- Activation: Approval by the grantee and U.S. Customs Service Port Director for operations to begin which allow the admission and handling of merchandise in zone status.
- Ad. Val.: According to value (ad valorem).
- Admit, Admission: The physical arrival of goods into a zone in a specified zone status with the appropriate approvals of the zone grantee and the Bureau of Customs and Border Protection. The word “admission” is used instead of “entry” to avoid confusion with Customs entry processes under Parts 141-144 of the Customs Regulations.
- Affreightment, Contract of: An agreement by a steamship line to provide cargo space on a vessel at a specified price to accommodate an exporter or importer, who then becomes liable for payment even though he is later unable to make shipment.
- All-Risk Clause: An insurance provision that all loss or damage to goods is insured except inherent vice (self-caused).
- Anti-Dumping Clause: A tariff imposed to discourage sale of foreign goods in the United States market at very low prices which might hurt U.S. manufacturers.
- Arbitrage: The practice of exchanging the currency of one country from that of another or a series of countries to gain an advantage from the differences in exchange rates.
- Arbitration Clause: A clause in a sales contract outlining the method under which disputes will be settled.
- A/S: After sight.
- BBL: Barrel.
- B/D: Bar-draft.
- B.D.I.: Both dates inclusive.
- B/E: Bill of exchange.
- B/L: Bill of lading.
- B.O.: Bad order, buyers option.
- B/P: Bills payable.
- B.T.: Berth terms.
- Booking Number: A number assigned to a contract of affreightment used as an identifying reference on bills and correspondence.
- bu: Bushel.
- bx: Box.
- Cable Address: A code word of less than 10 letters, registered annually with Central Bureau of Registered Addresses, used in lieu of the entire name and address of a firm receiving or sending cablegrams in order to reduse the number of words required in a cablegram.
- Cash Against Documents (C.A.D.): A method of payment for goods in which documents transferring title are given the buyer upon payment of cash to an intermediary acting for the seller, usually a commission house.
- Cash In Advance (C.I.A.): A method of payment for goods in which the buyer pays the seller in advance of shipment of the goods. Usually employed when the goods are built to order, such as specialized machinery.
- Cash With Order (C.W.O.): A method of payment for goods in which cash at the time of order and transaction becomes binding on both buyer and seller.
- CBP: The abbreviation of United States Customs and Border Protection.
- c.c: Current cost.
- C.E.: Consumption entry.
- Certificate of Origin: A certified document as to the origin of goods, used in foreign commerce.
- c.f.: Cubic foot.
- C&F Named Port: Cost and Freight. All costs of goods and transportation to the named port are included in the price quoted. Buyer pays insurance while aboard ship up to overseas inland destination.
- CFR (Cost and Freight): An acronym meaning that the seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel, is transferred from the seller to the buyer when the goods pass the ship's rail in the port of shipment. The CFR term requires the seller to clear the goods for export. This term can only be used for sea and inland waterway transport. When the ship's rail serves no practical purpose, such as in the case of roll-on/roll-off or container traffic, the CPT term is more appropriate to use.
- Charter Party: Renting of an entire vessel or part of its freight space for a particular trip or stipulated period of time.
- c.i.: Cost and insurance
- c/i: Certificate and insurance
- CIF (Cost, Insurance and Freight): An acronym meaning that the seller has the same obligations as under CFR but with the addition that he has to procure marine insurance against the buyer's risk of loss of or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium. The buyer should note that under the CIF term the seller is only required to obtain insurance on minimum coverage. The CIF term requires the seller to clear the goods for export. This term can only be used for sea and inland waterway transport. When the ship's rail serves no practical purposes such as in the case of roll-on/roll-off or container traffic, the CIP term is more appropriate to use.
- C.I.F. Named Port: Cost, insurance, freight. Same as C&F except seller also provides insurance up to named destination.
- C.I.F. & C: Price includes commission as well as C.I.F.
- C.I.F. & E: Price includes exchange of currency from United States to foreign money as well as C.I.F.
- CIP (Carriage and Insurance Paid to): An acronym meaning that the seller has the same obligations as under CPT but with the addition that the seller has to procure cargo insurance against the buyer's risk of loss of or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium. The buyer should note that under the CIP term the seller is only required to obtain insurance on minimum coverage. The CIP term requires the seller to clear the goods for export. This term may be used for any mode of transport including multimodal transport.
- Clean Bill of Lading: Document of receipt issued by a carrier when the goods are received in good order.
- C.O.D.: Cash on delivery.
- Collector of Customs: The representative of the U.S. Treasury Department acting for the government in connection with foreign traffic to specifically named inland sea ports.
- Combination Export Manager: A firm which acts as an exporter sales agent for more than one U.S. manufacturer, all of which are noncompetitive with the others. Business is transacted under the names of the manufacturers and revenue is derived from sales commissions.
- Commercial Code: A published code designed to reduce the total number of words required in a cablegram.
- Consignee Marks: A symbol placed on packages for export for identification purposes; generally consisting of a triangle, square, circle, diamond, cross, with letters and/or numbers as well as port of discharge.
- 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 describing goods to be shipped, made to the consul of the country of destination. Approval must be obtained prior to shipment.
- Consular Invoice: A document required by some foreign countries showing exact information as to consignor, consignee, value and description of shipment.
- Consulate: The jurisdiction, terms of office, or official premises of a consul.
- Consumption Entry: An official form used for declaration of reported goods also showing the total duty due on such transportation.
- C.O.S.: Cash on shipment.
- C.P.: Charter party.
- c.p.d.: Charterers pay dues.
- CPT (Carriage Paid To): An acronym meaning that the seller pays the freight for the carriage of the goods to the named destination. The risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered to the carrier, is transferred from the seller to the buyer when the goods have been delivered into the custody of the carrier. “Carrier” means any person who, in a contract of carriage, undertakes to perform or to procure the performance of carriage, by rail, road, sea, air, inland waterway or by a combination of such modes. If subsequent carriers are used for the carriage to the agreed destination, the risk passes when the goods have been delivered to the first carrier. The CPT terms requires the seller to clear the goods for export.
- C.R.: Carriers risk.
- Credit Risk Insurance: A form of insurance which protects the seller against loss due to default on the part of the buyer.
- c.t.l.o.: Constructive total loss only.
- Customhouse: The government office where duties and/or tolls are placed on imports or exports and are paid on vehicles or vessels entered or cleared.
- Customhouse Brokers: A person or firm, licensed by the Treasury Department, engaged in entering and clearing goods through customs. The duties of the broker include preparing the entry blank and filing it; advising the importer on duties to be paid; advancing duties and other costs; and arranging for delivery to his client, his trucking firm, or other carrier.
- Customs Tariff: A schedule of charges assessed by the federal government on imported and/or exported goods.
- Customs Territory: The territory of the U.S. in which the general tariff laws of the U.S. apply. The U.S. Customs territory includes the 50 states, the District of Columbia and Puerto Rico minus any areas within the boundaries of foreign-trade zones.
- cwt: Hundredweight.