|
|
|
For a comprehensive glossary of Importing terms and acronyms, visit the International Trade Data System website's International Trade Terms pages.
A sampling of terms used on this site includes:
- Broker – One that acts as an agent for others, as in negotiating contracts, purchases, or sales in return for a fee or commission.
- C-TPAT – Customs-Trade Partnership Against Terrorism.
- Customs – The government service which is responsible for the administration of Customs law and the collection of duties and taxes relating thereto, and which has responsibility for the application of other laws and regulations relative to the importation , transit, and exportation of goods.
- Export – To send or transport goods abroad out of a customs territory; to sever them from the mass of things belonging to one country with the intention of uniting them to the mass of things belonging to a foreign country.
- Harmonized Tariff Schedule –An organized listing of goods and their duty rates which is used as the basis for classifying imported products and identifying the rates of duty to be charged on them. It is based on the international Harmonized System Convention.
- Import – The act of bringing or causing any goods to be brought into a customs territory.
- INCO or INCO terms – An abbreviation of "International Commercial Terms" published by the International Chamber of Commerce. It is a set of rules for the interpretation of the most commonly used trade terms in foreign trade which parties to a contract can agree upon to avoid misunderstandings, disputes, and litigation.
- Quota – A limitation on the quantity of goods that may be imported into a country from all countries or from specific countries during a set period of time. Export quotas have similar parameters.
- USCBP – United States Customs and Border Protection.
Speak the language of international trade, but don't just talk the talk. Call InfoTrade today at (315) 724-4443 and get actions to go with the words.
|
|
|
