All Risk
All Risks Coverage, a type of marine insurance, is the broadest kind of standard coverage, but excludes damage caused by war, strikes, and riots.
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Alongside
A phrase referring to the side of a ship. Goods to be delivered "alongside" are to be placed on the dock or lighter within reach of the transport ship's tackle so that they can be loaded aboard the ship. Goods are delivered to the port of embarkation, but without loading fees.
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Automated Broker Interface
ABI, a part of Customs' Automated Commercial System, permits transmission of data pertaining to merchandise being imported into the United States. Qualified participants include brokers, importers, carriers, port authorities, and independent data processing companies referred to as service centers.
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Automated Clearinghouse
The Automated Clearinghouse (ACH) is a feature of the Automated Broker Interface which is a part of Customs' Automated Commercial System. The ACH combines elements of bank lock box arrangements with electronic funds transfer services to replace cash or check for payment of estimated duties, taxes, and fees on imported merchandise.
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Bill of Lading (B/L)
Bills of lading are contracts between the owner of the goods and the carrier. There are two types. A straight bill of lading is nonnegotiable. A negotiable or shipper's order bill of lading can be bought, sold, or traded while goods are in transit and is used for many types of financing transactions. The customer usually needs the original or a copy as proof of ownership to take possession of the goods.
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Bond System
The Bond System, a part of Customs' Automated Commercial System, provides information on bond coverage. A Customs bond is a contract between a principal, usually an importers, and a surety which is obtained to insure performance of an obligation imposed by law or regulation. The bond covers potential loss of duties, taxes, and penalties for specific types of transactions. Customs is the contract beneficiary.
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Bonded Warehouse
The U.S. Customs Service authorizes bonded warehouses for storage or manufacture of goods on which payment of duties is deferred until the goods enter the Customs Territory. The goods are not subject to duties if reshipped to foreign points.
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C&F
A price term commonly used in International Trade practise, meaning price quoted including cost of goods and associated transportation fee. Normally it comes with destination and means of transportation ie. air or sea. (Example: C&F Osaka Airport)
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Caged
Before import customs formality has been completed cleared and released, cargo is remained at bonded warehouse under customs custody.
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Cargo Selectivity System
The Cargo Selectivity System, a part of Customs' Automated Commercial System, specifies the type of examination (intensive or general) to be conducted for imported merchandise. The type of examination is based on database selectivity criteria such as assessments of risk by filer, consignee, tariff number, country of origin, and manufacturer/shipper. A first time consignee is always selected for an intensive examination. An alert is also generated in cargo selectivity the first time a consignee files an entry in a port with a particular tariff number, country of origin, or manufacturer/shipper.
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Carnet
A customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries for display, domonstration or other purposes without paying import duties or posting bonds.
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Carriage Paid To
Carriage paid to (CPT) and carriage and insurance paid to (CIP) a named place of destination. Used in place of CFR and CIF, respectively for shipment by modes other than water.
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Clean Bill of Lading
A receipt for goods issued by a carrier with an indication that the goods were received in "apparent good order and condition," without damages or other irregularities.
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Collection Papers
All documents (invoices, bills of lading or air waybill, etc.) submitted to a buyer for the purpose of receiving payment for a shipment.
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Collection System
The Collections System, a part of Customs' Automated Commercial System, controls and accounts for the billions of dollars in payments collected by Customs each year and the millions in refunds processed each year. Daily statements are prepared for the automated brokers who select this service. The Collections System permits electronic payments of the related duties and taxes through the Automated Clearinghouse capability. Automated collections also meet the needs of the importing community through acceptance of electronic funds transfers for deferred tax bills and receipt of electronic payments from lockbox operations for Customs bills and fees.
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Commercial Invoice
The commercial invoice is a bill for the goods from the seller to the buyer. These invoices are often used by governments to determine the true value of goods for the assessment of customs duties and are also used to prepare consular documentation. Governments using the commercial invoice to control imports often specify its form, content, number of copies, language to be used, and other characteristics.
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Commercial Risks
With respect to Eximbank guarantees, commercial risks cover nonpayment for reasons other than specified Political Risks. Examples are insolvency or protracted default.
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Consignee
The person or firm named in a freight contract to whom goods have been consigned or turned over. For export control purposes, the documentation differentiates between an "intermediate" consignee and an "ultimate" consignee.
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Consignment
Delivery of merchandise from an exporter (the consignor) to an agent (the consignee) under agreement that the agent sell the merchandise for the account of the exporter. The consignor retains title to the goods until sold. The consignee sells the goods for commission and remits the net proceeds to the consignor.
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Consular Invoice
A document, required by some foreign countries, describing a shipment of goods and showing information such as the consignor, consignee, and value of the shipment. Certified by a consular official of the foreign country, it is used by the country's customs officials to verify the value, quantity, and nature of the shipment.
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Cost and Freight (C&F)
Cost and Freight (CFR) to a named overseas port of import. Under this term, the seller quotes a price for the goods that includes the cost of transportation to the named point of debarkation. The cost of insurance is left to the buyer's account. (Typically used for ocean shipments only. CPT, or carriage paid to, is a term used for shipment by modes other than water.) Also, a method of import valuation that includes insurance and freight charges with the merchandise values.
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Cost, Insurance and Freight (CIF)
Cost, insurance, and freight (CIF) to a named overseas port of import. Under this term, the seller quotes a price for the goods (including insurance), all transportation, and miscellaneous charges to the point of debarkation for the vessel. (Typically used for ocean shipments only. CIP, or carriage and insurance paid to, is a term used for shipment by modes other than water.)
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Customs
The government authorities designated to collect duties levied by a country on imports and exports.
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Customs Broker
An individual or company licensed by the government to enter and clear goods through Customs. The U.S. Customs Service defines a Customs Broker, as any person who is licensed in accordance with Part III of Title 19 of the Code of Federal Regulations (Customs regulations) to transact Customs business on behalf of others. Customs business is limited to those activities involving transactions with Customs concerning the entry and admissibility of merchandise; its classification and valuation; the payment of duties, taxes, or other charges assessed or collected by Customs upon merchandise by reason of its importation, or the refund, rebate, or drawback thereof.
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Customs Clearance
The procedures involved in getting cargo released by Customs through designated formalities such as presenting import license/permit, payment of import duties and other required documentations by the nature of the cargo such as FCC or FDA approval.
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Customs Import Value
This is the U.S. Customs Service appraisal value of merchandise. Methodologically, the Customs value is similar to f.a.s. (free alongside ship) value since it is based on the value of the product in the foreign country of origin, and excludes charges incurred in bringing the merchandise to the United States (import duties, ocean freight, insurance, and so forth); but it differs in that the U.S. Customs Service, not the importer or exporter, has the final authority to determine the value of the good.
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Customs Invoice
A document, required by some foreign countries' customs officials to verify the value, quantity, and nature of the shipment, describing the shipment of goods and showing information such as the consignor, consignee, and value of the shipment.
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DDP
While the term "Ex Works" signifies the seller's minimum obligation, the term "DDP - Deliver Duty Paid", when followed by words naming the buyer's premises, denotes the other extreme -- the seller's maximum obligation. The term "Deliver Duty Paid" may be used irrespective of the mode of transport. If the parties wish that the seller should clear the goods for import but that some of the cost payable upon the import of the goods should be excluded -- such as value added tax (VAT) and/or other similar taxes -- this should be made clear by adding words to this effect (e.g., "exclusive of VAT and/or taxes").
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DDU
Deliver Duty Unpaid, referring to DDP except buyer pays for the import duty.
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Declaration by Foreign Shipper
The U.S. Customs Service defines this term as a statement by the shipper in the foreign country attesting to certain facts. For example, articles shipped from the United States to an insular possession and then returned must be accompanied by a declaration by the shipper in the insular possession, indicating that, to the best of his or her knowledge, the articles were exported directly from the United States to the insular possession and remained there until the moment of their return to the United States. (see 19 CFR 4.60 and 4.61 on U.S. clearance of vessels bound for a foreign port or ports.)
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Delivered at Frontier
"Delivered at Frontier" means that the seller's obligations are fulfilled when the goods have arrived at the frontier -- but before "the customs border" of the country named in the sales contract. The term is primarily intended to apply to goods by rail or road but is also used irrespective of the mode of transport.
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Delivery Instructions
Provides specific information to the inland carrier concerning the arrangement made by the forwarder to deliver the merchandise to the particular pier or steamship line. Not to be confused with Delivery Order which is used for import cargo.
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Delivery Verification Certificate
The U.S. Customs Service defines a DVC as a form used to track imported merchandise from the custody of the importer to the custody of a manufacturer and is used to substantiate a manufacturing drawback claim. The DVC is also known as a Certificate of Delivery (Customs Form 331).

An export license may be issued with a requirement for delivery verification by Customs in the receiving country. When delivery verification is required by a foreign government for goods imported into the U.S., the U.S. Customs Service will certify a delivery verification certificate (Form ITA-647). A U.S. export license may require submission of a similar form from an importing country.
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Demurrage
Excess time taken for loading or unloading a vessel, thus causing delay of scheduled departure. Demurrage refers only to situations in which the charter or shipper, rather than the vessel's operator, is at fault.
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Deposit of Estimated Duties
This refers to antidumping duties which must be deposited upon entry of merchandise which is the subject of an antidumping duty order for each manufacturer, producer or exporter equal to the amount by which the foreign market value exceeds the United States price of the merchandise.
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Distribution License
The DL is a Special License that allows the holder to make multiple exports of authorized commodities to foreign consignees who are approved in advance by the Bureau of Export Administration. The procedure also authorizes approved foreign consignees to reexport among themselves and to other approved countries. Applicants and consignees must establish Internal Control Programs to ensure the proper distribution of items under the DL. Each program must include comprehensive procedures for ensuring that the items exported will be used only for legitmate end-uses.
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Diversion
Changing the destination after cargo has sailed or aired.
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Dock Receipt
A dock receipt is used to transfer accountability when the export item is moved by the domestic carrier to the port of embarkation and left with the international carrier for export.
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Documents Against Acceptance (D/A)
Instructions given by a shipper to a bank indicating that documents transferring title to goods should be delivered to the buyer (or drawee) only upon the buyer's acceptance (signature on) of the attached draft.
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Documents Against Payment (D/P)
Stipulate that the exporter ships goods to the importer without a letter of credit or another form of guaranteed payment. The importer must sign a sight draft before receiving the necessary documents to pick up the goods. Documents Against Acceptance (D/A) are instructions given by a shipper to a bank stating that the documents transferring title to goods should be delivered to the buyer only upon the signing of a time draft. In this manner an exporter extends credit to the importer and agrees to accept payment at a readily determined future date.
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Drawback
Drawback is a rebate by a government, in whole or in part, of customs duties assessed on imported merchandise that is subsequently exported. Drawback regulations and procedures vary among countries.
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Drawback System
The Drawback System, a part of Customs' Automated Commercial System, provides the means for processing and tracking of drawback claims.
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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 factors such as weight or quantity (specific duties), or a combination of value and other factors (compound duties).
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EDIFACT
EDIFACT, Electronic Data Interchange for Administration, Commerce, and Transportation, is an international syntax used in the interchange of electronic data. Customs uses EDIFACT to interchange data with the importing trade community.
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Entrepot
An intermediary storage facility where goods are kept temporarily for distribution within a country or for reexport.
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Entry Summary System
An entry is the minimum amount of documentation needed to secure the release of imported merchandise. The Entry Summary System, a part of Customs' Automated Commercial System, contains data on release, summary, rejection, collection, liquidation, and extension or suspension.
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Entry Summary Selectivity System
The Entry Summary Selectivity System, a part of Customs' Automated Commercial System, provides an automated review of entry data to determine whether team or routine review is required. Selectivity criteria include an assessment of risk by importer, tariff number, country of origin, manufacturer, and value. Summaries with Census warnings, as well as quota, antidumping and countervailing duty entry summaries are selected for team review. A random sample of routine review summaries is also automatically selected for team review.
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Entry Value
The U.S. Customs Service defines entry value (or entered value) as the value reflected on the enry documentation submitted by the importer. (see 19 CFR 141.61 for how shown on entry.)
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Ex-"From"
When used in pricing terms such as "Ex Factory" or "Ex Dock," it signifies that the price quoted applies only at the point of origin (in the two examples, at the seller's factory or a dock at the import point). In practice, this kind of quotation indicates that the seller agrees to place the goods at the disposal of the buyer at the specified place within a fixed period of time.
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Export Control Classification Number
Every product has an export control classification number (formerly: Export Control Commodity Number) within the Commerce Control List. Each ECCN consists of five characters that identify the category, product group, type of control, and country group level of control.
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Export License
A government document (also known as an "Individual Validated License") authorizing exports of specific goods in specific quantities to a particular destination. This document may be required in some countries for most or all exports and in other countries only under special circumstances.
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Ex Quay
"Ex Quay" means that the seller makes the goods available to the buyer on the quay (wharf) at the destination named in the sales contract. The seller has to bear the full cost and risk involved in bringing the goods there. There are two "Ex Quay" contracts in use: (a) Ex Quay "duty paid" and (b) Ex Quay "duties on buyer's account" in which the liability to clear goods for import is to be met by the buyer instead of by the seller.
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Ex Ship
"Ex Ship" means that the seller will make the goods available to the buyer on board the ship at the destination named in the sales contract. The seller bears all costs and risks involved in bringing the goods to the destination.
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Ex Works
Ex Works (EXW) at a named point of origin (examples are: ex factory, ex mill, ex warehouse). Under this term, the price quoted applies only at the point of origin and the seller agrees to place the goods at the disposal of the buyer at a specified place on the date or within the period fixed. All other charges are for the account of the buyer.
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FCL or CY
Full Container Load, also known as CY. CY is the abbreviation of Container Yard. When the term CY to CY, it means full container load all the way from origin to destination.
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Federal Maritime Commission
The FMC is an independent agencys which regulates oceanborne transportation in the foreign commerce and in the domestic offshore trade of the United States.
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Flag of Convenience
A ship registered under the flag of a nation which offers conveniences in the areas of taxes, crew, and safety requirements.
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Foreign Exports
Exports of foreign merchandise (re-exports), consist of commodities of foreign origin which have entered the United States for consumption or into Customs bonded warehouses or U.S. Foreign Trade Zones, and which, at the time of exportation, are in substantially the same condition as when imported.
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Forty Feet Equivlent Unit (FEU)

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Foul Bill of Lading
A receipt for goods issued by a carrier with an indication that the goods were damaged when received.
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Free Alongside Ship
Free Alongside Ship, FAS, at a named port of export. Under FAS, the seller quotes a price for the goods that includes charges for delivery of the goods alongside a vessel at the port of departure. The seller handles the cost of unloading and wharfage; loading, ocean transportation, and insurance are left to the buyer. FAS is also a method of export and import valuation.
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Free Carrier (FCA)
Free Carrier, FCA, to a named place. This term replaces the former "FOB named inland port" to designate the seller's responsibility for the cost of loading goods at the named shipping point. It may be used for multimodal transport, container stations, and any mode of transport, including air.
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Free In
A pricing term indicating that the charterer of a vessel is responsible for the cost of loading goods onto the vessel.
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Free In and Out
A pricing term indicating that the charterer of a vessel is responsible for the cost of loading and unloading goods from the vessel.
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Free On Board (FOB)
Common price term used in international trade meaning seller's responsible for the cost of goods is to the point of loading it to the vessel deck or aircraft loading deck. The risk of loss of or damage to the goods is transferred from the seller to the buyer when the goods have been so delivered. FOB normally comes with port of loading either airport or sea port.
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Free of Particular Average (FPA)
F.P.A., a type of marine insurance, is the minimum coverage in use and covers total and partial losses if the ship carrying an exporter's goods is involved in a collision or fire, or is stranded or sunk.
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Free On Rail/Free On Truck
These terms are synonymous, since the word "truck" relates to the railway wagons. The terms should only be used then the goods are to be carried by rail. Free on Railroad defines seller's responsible for the cost of goods is to the point of loading it to the trains' loading deck. FOR normally comes with loading railroad station where the goods is to be loaded.
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Free Out
A pricing term indicating that the quoted prices includes the cost of unloading the goods from the vessel.
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Free Ports
Free ports are a form of free trade zone that usually encompass an entire port area (examples include Hong Kong and Singapore).
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Freight for All Kinds
FAK is a shipping classification. Goods classified FAK are usually charged higher rates than those marked with a specific classification and are frequently in a container which includes various classes of cargo.
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Freight Carriage ... paid to
Like C & F, "Freight/Carriage paid to ..." means that the seller pays the freight for the carriage of the goods to the named destination. However, the risk of loss of or damage to the goods, as well as of any cost increases, is transferred from the seller to the buyer when the goods have been delivered into the custody of the first carrier and not at the ship's rail. The term can be used for all modes of transport including multi-modal operations and container or "roll on-roll off" traffic by trailer and ferries. When the seller has to furnish a bill of lading, waybill or carrier's receipt, he duly fulfills this obligation by presenting such a document issued by the person with whom he has contracted for carriage to the named destination.
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Freight Carriage ... and Insurance paid to
This term is the same as "Freight/Carriage Paid to ..." but with the addition that the seller has to procure transport insurance against the risk of loss of damage to the goods during the carriage. The seller contracts with the insurer and pays the insurance premium.
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Freight Forwarder
An independent business which handles export shipments for compensation. At the request of the shipper, the forwarder makes the actual arrangements and provides the necessary services for expediting the shipment to its overseas destination. The forwarder takes care of all documentation needed to move the shipment from origin to destination, making up and assembling the necessary documentation for submission to the bank in the exporter's name. The forwarder arranges for cargo insurance, makes the necessary overseas communications, and advises the shipper on overseas requirements of marking and labeling. The forwarder operates on a fee basis paid by the exporter and often receives an additional percentage of the freight charge from the common carrier. An export freight forwarder must be licensed by the Federal Maritime Commission to handle ocean freight and by the International Air Transport Association (IATA) to handle air freight. An ocean freight forwarder dispatches shipments from the United States via common carriers, books or arranges space for the shipments, and handles the shipping documentation.
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Gateway
In the context of travel activities, gateway refers to a major airport or seaport. Internationally, gateway can also mean the port where customs clearance takes place.
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Gross Weight
The full weight of a shipment, including goods and packaging. Compare Tare Weight.
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Harmonized System
The Harmonized Commodity Description and Coding System (or Harmonized System, HS) is a system for classifying goods in international trade, developed under the auspices of the Customs Cooperation Council. Beginning on January 1, 1989, the new HS numbers replaced previously adhered-to schedules in over 50 countries, including the United States.

For the United States, the HS numbers and four additional digits are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers.
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Ice Clause
An ice clause is a standard clause in the chartering of ocean vessels. It dictates the course a vessel master may take if the ship is prevented from entering the loading or discharge port because of ice, or if the vessel is threatened by ice while in the port. The clause establishes rights and obligations of both vessel owner and charterer if these events occur.
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Import Certificate
The import certificate is a means by which the government of the country of ultimate destination exercises legal control over the internal channeling of the commodities covered by the import certificate.
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Importer of Record
The U.S. Customs Service defines the importer of record as the owner or purchaser of the goods; or, when designated by the owner, purchaser, or consignee, a licensed Customs broker.
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Import License
A document required and issued by some national governments authorizing the importation of goods.Also referred as import permit. With such documentation, customs clearance can be conducted.
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Incoterms
Maintained by the International Chamber of Commerce (ICC), this codification of terms is used in foreign trade contracts to define which parties incur the costs and at what specific point the costs are incurred.
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Individual Validated License
An IVL is written approval by which the U.S. Department of Commerce grants permission, which is valid for 2 years, for the export of a specified quantity of products or technical data to a single recipient. IVLs also are required, under certain circumstances, as authorization for the reexport of U.S.-origin commodities to new estinations abroad.
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Inherent Vice
An insurance term referring to any defect or other characteristics of a product which could result in damage to the product without external cause. Insurance policies may specifically exclude losses caused by inherent vice.
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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 can sometimes be used, it is usually necessary to prepare both an inland bill of lading and an ocean bill of lading for export shipments.
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Insurance Certificate
This certificate is used to assure the consignee that insurance is provided to cover loss of or damage to the cargo while in transit.
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Integrated Carriers
Carriers that have both air and ground fleets; or other combinations, such as sea, rail, and truck. Since they usually handle thousands of small parcels an hour, they are less expensive and offer more diverse services than regular carriers.
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Intermediate Consignee
An intermediate consignee is the bank, forwarding agent, or other intermediary (if any) that acts in a foreign country as an agent for the exporter, the purchaser, or the ultimate consignee, for the purpose of effecting delivery of the export to the ultimate consignee.
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Intermediate Container Transfer Facility
ICTF is a site where cargo is transferred from one form of transit to another, such as rail to ship.
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Intermodal
Movement of goods by more than one mode of transport, ie. airplane, truck, railroad and ship.
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International Maritime Organization
The IMO was established as a specialized agency of the United Nations in 1948. The IMO facilitates cooperation on technical matters affecting merchant shipping and traffic, including improved maritime safety and prevention of marine pollution. Headquartrers are in London, England.
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Irrevocable Letter of Credit
A letter of credit in which the specified payment is guaranteed by the issuing bank if all terms and conditions are met by the drawee. It is as good as the issuing bank.
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LCL or CFS
Less than Container Load, also known as CFS. CFS is the abbreviation of Container Freight Service. It means consolidated container load.
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Letter of Credit
A financial document issued by a bank at the request of the consignee guaranteeing payment to the shipper for cargo if certain terms and conditions are fulfilled. Normally it contains a brief description of the goods, documents required, a shipping date, and an expiration date after which payment will no longer be made. An Irrevocable Letter of Credit is one which obligates the issuing bank to pay the exporter when all terms and conditions of the letter of credit have been met. None of the terms and conditions may be changed without the consent of all parties to the letter of credit. A Revocable Letter of Credit is subject to possible recall or amendment at the option of the applicant, without the approval of the beneficiary. A Confirmed Letter of Credit is issued by a foreign bank with its validity confirmed by a U.S. bank. An exporter who requires a confirmed letter of credit from the buyer is assured payment from the U.S. bank in case the foreign buyer or bank defaults. A Documentary Letter of Credit is one for which the issuing bank stipulates that certain documents must accompany a draft. The documents assure the applicant (importer) that the merchandise has been shipped and that title to the goods has been transferred to the importer.
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LOCODE
Code for Ports and other locations (United Nations)
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Marine Cargo Insurance
Broadly, insurance covering loss of, or damage to, goods at sea. Marine insurance typically compensates the owner of merchandise for losses in excess of those which can be legally recovered from the carrier that are sustained from fire, shipwreck, piracy, and various other causes. Three of the most common types of marine insurance coverage are "free of particular average" (f.p.a.), "with average" (w.a.), and "All Risks Coverage."
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NVOCC
Non-Vessel Operating Common Carrier - A company which consolidates small shipment s from different sources consigned to the same destination into a single container for shipment overseas by either ocean or air carriers.
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Ocean Bill of Lading
A receipt for the cargo and a contract for transportation between a shipper and the ocean carrier. It may also be used as an instrument of ownership which can be bought, sold, or traded while the goods are in transit. To be used in this manner, it must be a negotiable "Order" Bill-of-Lading.