| D |
| Damages |
| A loss or harm to a person or their property. |
| Dangerous Goods |
| Goods which are capable of posing a health or safety risk when transported
by air. |
| Date Draft |
| A draft which matures a specified number of days after the date it
is issued, without regard to the date of acceptance. |
| Dating |
| Extended credit terms granted by the seller to induce buyers to receive
goods in advance of required delivary dates. |
| Deadweight |
| The maximum carrying capacity of a ship. |
| Dealer |
| An individual or firm who acts as principal in the sale of merchandise. |
| Debt-For-Nature Swap |
| Swap arranged by private conservation group to use the proceeds of
debt conversions to finance conservation projects relating to park land
or tropical forests. |
| Debtor Nation |
| A nation that is owed less foreign currency obligations than it owes
other nations. |
| Deck Cargo |
| Cargo that is shipped on the deck of a vessel rather than in holds
below. |
| Declared Value For Carriage |
| The value of goods declared to the carrier by the shipper for the purposes
of determining charges. |
| Declared Value for Customs |
| The selling price of a shipment or the replacement cost is the goods
are not for resale. |
| Deductive Value |
| A valuation of merchandise that is the resale price of imported merchandise
in United States with deductions for certain items. |
| Deferred Air Freight |
| Air freight with less urgency, delivered over a period of days. |
| Deferred Payment
Letter of Credit |
| A letter of credit that allows the buyer to take possession of goods
by agreeing to pay the issuing bank at a fixed future date. |
| Del Credere Risk |
| Risk that a counterparty is either unable or unwilling to fulfill his
payment obligations. |
| Delivery |
| The act of transferring physical possession. |
| Delivery Carrier |
| The transport carrier whose responsibility it is to place a shipment
at the disposal of the buyer. |
| Delivery Instructions |
| Specific delivery instructions for the freight forwarder or carrier
stating exactly where the goods are to be delivered, the deadline, and
a contact person should problems arise. |
| Delivery Order |
| A document from the consignee, shipper, or owner of freight ordering
the delivery of freight to another party. |
| Demise |
| A lease of property; a demise charter is a bareboat charter. |
| Demurrage |
| The detention of a freight car or ship beyond time permitted for loading
or unloading. |
| Destination |
| The place to which a shipment is consigned. |
| Detention |
| Delay in clearing goods through customs, usually resulting in storage
fees and other charges. |
| Devanning |
| The unloading of cargo from a container. |
| Developed Countries |
| A term used to describe more industrialized nations. |
| Developing Countries` |
| A term used to describe countries that lack strong amounts of industrialization,
infrastructure, and sophisticated technology. |
| Differential |
| An amount added to or deducted from a base shipping rate between two
given locations to determine a new rate for another location. |
| Discharge |
| The unloading of passengers or cargo from a vessel, vehicle, or aircraft. |
| Discounting |
| The sale at less than original price value of a commodity or monetary
instrument, often for immediate payment. |
| Discrimination |
| The preferential rates or privileges granted to some shippers but not
to others under similar conditions. |
| Dispatch |
| An amount paid by a vessel's operator to a charter if loading or unloading
is completed in less time than stipulated in the charter agreement. |
| Distribution License |
| A license that allows multiple exports of authorized commodities to
foreign consignees approved in advance by the U.S. Bureau of Export Administration. |
| Distribution Service |
| A service that accepts one shipment from a single shipper and at a
point of destination, separates the shipment and distributes it to many
receivers. |
| Distributor |
| An agent who sells directly for a supplier and maintains an inventory
of the supplier's products. |
| Diversion |
| Any change in the billing of a shipment once it has been received by
the carrier at point of orgin and prior to delivary at destination. |
| DOC |
| Department of Commerce. |
| Dock |
| Loading or unloading platform at an industrial location or carrier
terminal. |
| Dock Examination |
| A U.S. Customs examination that requires be opened for a thorough inspection
rather than just a visual one. |
| Dock Receipt |
| A receipt issued by a port officer that certifies that goods have been
received by a shipper. |
| Dolly |
| A piece of equiptment with wheel used to move freight with or without
a tractor. |
| Domestic Exports |
| Exports which were grown, produced, or manufactured in the United States. |
| Domicile |
| The place where a draft or acceptance is made payable. |
| Door-To-Door |
| Shipping service from shipper's door to consignee's door. |
| Double-Column Tariff |
| A tariff schedule with two rates, one for preferred trading partners
and one for imports from non-preferred trading countries. |
| Downstream Dumping |
| The sale of products by a manufacturer below cost to a secondary producer
in its domestic market where the product is then further processed and
shipped to another country. |
| Drawback |
| A refund of 99 percent of duties (and taxes) paid on imported merchandise
which is immediately exported, subjected to manufacture or production and
then exported,, or destroyed in the same condition as it was imported. |
| Drawback System |
| An ACS module that provides the means for processing and controlling
all types of drawback entries. |
| Dray |
| A vehicle used to haul cargo or goods. |
| Drayage |
| The charge made for hauling freight or carts, drays or trucks. |
| Drop Shipment |
| A shipment of goods from a manufacturer directly to a dealer or consumer,
avoiding shipment to the wholesaler. |
| Dropoff |
| The delivery of a shipment by a shipper to a carrier for transportation. |
| Dropoff Charge |
| A charge made by a transportation company for delivary of a container. |
| Dry Cargo |
| Cargo which does not require temperature controls. |
| Dry-Bulk Container |
| A container designed to carry any of a number of free flowing dry solids
such as grain or sand. |
| Dry-Cargo Container |
| Any shipping container designed to transport goods other than liquids. |
| Dual Exchange Rate |
| The existance of two or more exchange rates for a single currency. |
| Dual Pricing |
| The selling of identical products in different markets for different
prices. |
| Dumping |
| The sale of a commodity in a foreign market at less than fair value,
usually considered to be a price lower than that at which it is sold within
the exporting country or to third countries. |
| Dunnage |
| Materials placed around cargo to prevent breakage or movement. |
| Durable Goods |
| Any product which is not consumed through use. |
| Dutiable List |
| Items listed in a country's tariff schedule for which it charges import
duty. |
| Duty |
| A tax levied by a government on the import, export, or consumption
of goods. |
| E |
| Easement |
| A right to use another person's property. |
| Edge Act Corporations |
| Banks that are subsidiaries either to bank holding companies or other
banks established to engage in foreign business transactions. |
| EDI |
| Electronic Data Interchange. |
| Electronic Commerce |
| A system of integrated communications, data management, and security
services that allow business applications within different organizations
to automatically interchange information. |
| Electronic Funds Transfer |
| System of transferring funds from one account to another using electronic
pulses instead of paper. |
| Electronic Meat
Health Certificate |
| A demonstration project that illustrates the electronic transmission
of fresh meat health certificates. |
| ELVIS |
| Electronic Visa Information System: An electronic data prototype which
provides information on non-US issued textile visas. |
| Embargo |
| A prohibition upon exports or imports with respect to specific products
or specific countries. |
| En Route |
| In transit (referring to goods, passengers, or vessels). |
| Entrepot |
| An intermediary storage facility where goods are kept temporarily for
distribution. |
| Entrepot Trade |
| The import and export of goods without the further processing of the
goods. Usually refers to a party that buys and sells as a middleman. |
| Entry |
| A statement of the kinds, quantities, and values of goods imported
together with duties due and declared before a customs officer. |
| Entry Documents |
| The documents required to secure the release of imported merchandise. |
| Entry Summary |
| Documentation which is necessary to enable US Customs to assess duties,
collect statistics, and determine whether other requirements of law or
regulations are met upon importation. |
| Entry Summary System |
| An ACS module that automates the entry processing cycle. |
| Environmental Protection
Agency |
| An independant agency in the executive branch whose mandate is to control
and abate pollution in the areas of air, water, solid waste, pesticides,
radiation, and toxic substances. |
| Equalization |
| Money alloted to the customer if the goods are picked up at a destination
other than the one named on the bill of lading. |
| Escape Clause |
| A provision in a bilateral or multilateral commercial agreement permitting
a signatory nation to temporarily violate their obligations when imports
threaten serious harm to the producers of competitive domestic goods. |
| ETA |
| The expected date and time of arrival. |
| ETD |
| The expected date and time of departure. |
| Eurobond |
| A bond issued in a foreign currency, different than the one in which
the bond is sold. |
| Ex Factory |
| A sale term where the buyer gains ownership of goods when they leave
the vendor's dock. |
| Exception Rates |
| Shipping rates set higher because the commodity requires special handling
and care (i.e. live animals). |
| Exchange Rate |
| The price of one currency expressed in terms of another. |
| Excise Tax |
| A selective tax; sometimes referred to as a consumption tax. |
| Exculpatory Clause |
| A contractual clause that releases one party from liability in case
of wrong doing by the other party involved. |
| Expiry Date |
| A foreign exchange term for the last day that options can be executed;
an expiration date. |
| Export |
| To send or transport abroad merchandise, especially for sale or trade. |
| Export Broker |
| A firm that specializes in bringing buyers and sellers together for
a fee but does not participate in the actual business transaction. |
| Export Control |
| Retaining control over exports for statistical and strategic purposes. |
| Export Declaration |
| A required customs document for exportation from the United States. |
| Export Draft |
| An order for the importing party to pay the seller for the exported
goods. |
| Export Duty |
| A tax imposed on exports of some nations. |
| Export License |
| A government document which gives permission to export a specified
quantity of a specified commodity. |
| Export Management Company |
| A private firm that serves as the export department for several manufacturers
and handles the exporting aspect of the business for a commission or salary. |
| Export Merchant |
| A company that buys products directly from manufacturers, then packages
and marks the merchandise for resale under its own name. |
| Export Processing Zone |
| Industrial parks designated by a government to provide tax and other
incentives to export firms. |
| Export Quotas |
| Specific restrictions on the value or volume of exports from a nation. |
| Export Restraints |
| Restrictions as to the number of exports that are alloted for certain
foreign markets. |
| Export Statistics |
| The statistics that contain the total volume or value of all exports
leaving the United States. |
| Export Subsidies |
| Government payments to induce exportation by domestic producers. |
| Export Trading Company |
| A corporation organized for the principal purpose of exporting goods
and services. |
| Exporter |
| An individual or company that transports goods or merchandise from
one country to another in the course of trade. |
| Exporter Identification
Number |
| An identification number required on the Shipper's Export Declaration
for all export shipments. |
| External Value |
| The purchasing power of a currency abroad, converted using the exchange
rate. |
| Extradition |
| The return of an alleged criminal from one country to the country that
has jurisdiction. |
| F |
| Facilitation |
| Any program designed to expediate the flow of international commerce. |
| Factor |
| An agent who receives merchandise under a consignment or bailment contract,
who sells it for the principal or in the factor's own name, and who is
paid a commission for each sale. |
| Factor's Lien |
| The right of a factor to retain the principal's merchandise until the
factor receives full compensation from the principal. |
| Factorage |
| The commission or other compensation paid to a factor. |
| Fair Value |
| The weighted average of a product's domestic market prices. |
| FCL |
| Full Container Load. or Full Cargo Load. |
| FDA |
| Food And Drug Administration. |
| Federal Reserve System |
| The central banking system of the United States; coordinator of monetary
policy. |
| Feeder Vessel |
| A vessel which is used to connect to a line vessel which directly services
a port. |
| FEU |
| Forty foot equivalent units (Two 20 ft containers = 1 FEU). |
| Financial Instrument |
| A document which has monetary value or is evidence of a transaction. |
| Financial Market |
| Market for the exchange of capital and credit in an economy; it is
divided into money markets and capital markets. |
| First World Countries |
| Western, industrialized, non-communist countries. |
| Five Draqons |
| Term used to describe the emerging economies of Hong Kong, Singapore,
South Korea, Taiwan, and Thailand. |
| Fixed Charges |
| Charges which do not increase or decrease with a change in volume. |
| Fixed Exchange |
| An administratively fixed exchange rate where no rate fluctuations
are possible. |
| Fixing |
| Establishing of the official exchange rate of a domestic currency against
other negotiable currencies. |
| Flag |
| A reference to the country or registry of a vessel. |
| Flag of Convenience |
| The national flag flown by a ship that is registered in a country other
than that of its owners. |
| Flight of Capital |
| The movement of capital to avoid loss or increase gain. |
| Floating |
| Free determination of exchange rates based on supply and demand with
no intervention on the part of the central bank. |
| Flotsam |
| Floating debris or wreckage of a ship and its cargo. |
| Force Majeure |
| Any condition or circumstances such as earthquakes, flood, or war,
that prevents the carrier from delivering the goods. |
| Foreign Bond |
| An international bond denominated in the currency of the country where
it is issued. |
| Foreign Commerce |
| Trade between individuals or legal entities in different countries. |
| Foreign Currency |
| The currency of any foreign country which is the authorized medium
of circulation. |
| Foreign Exchange Contract |
| A contract for the sale or purchase of foreign exchange specifying
an exchange rate and delivery date. |
| Foreign Exchange Rate |
| The price of one currency in terms of another. |
| Foreign Exports |
| The U.S. export of foreign merchandise consisting of foreign commodities
and goods in Customs bonded warehouses. |
| Foreign Flag |
| A reference to a carrier not registered in a country but flies that
country's flag. |
| Foreign Income |
| Income earned by Americans from work performed in another country. |
| Foreign Investment |
| The purchase of assets from abroad. |
| Foreign Market Value |
| The price at which merchandise is sold in the principal markets of
the country from which it is exported. |
| Foreign Parent |
| The first foreign person or entity outside the United States in an
affiliates's ownership chain that has direct investment in the affiliate. |
| Foreign Person |
| A person who resides outside of the United States or is subjest to
the jurisdiction of a country other than the United States. |
| Foreign Remittances |
| The transfer of any monetary instrument across national boundaries. |
| Forward Foreign Exchange |
| An agreement to purchase foreign currency at a future date at a predetermined
rate. |
| Foul Bill of Lading |
| A receipt for goods with the indication that they were received damaged
or short in quantity. |
| Fractional Currency |
| Any currency that is smaller than a standard money unit. |
| Franco |
| Free from duties, transportation charges and other levies. |
| Free Domicile |
| Term to describe when the shipper pays all the transportation charges
and applicable duties. |
| Free In |
| A pricing term indicating that the loading charges are for the account
of the supplier. |
| Free In and Out |
| A pricing term indicating that the vessel operator is responsible for
the cost of loading and unloading. |
| Free List |
| A statement of items that are not liable to the payment of duties. |
| Free Market |
| Unrestricted movement of items in and out of a market, unhampered by
the existance of tariffs or other trade barriers. |
| Free Out |
| A pricing term indicating that unloading charges are for the account
of the receiver. |
| Free Port |
| An area where imported goods may be brought without payment of duties. |
| Free Time |
| The time allowed shippers and receivers to load or unload cars before
demurrage or detention. |
| Free Zone |
| An area within a country (a seaport, airport, warehouse or any designated
area) regarded as being outside its customs territory where importers may
bring goods of foreign origin without paying customs duties and taxes,
pending their eventual processing, transshipment or re-exportation. |
| Free-Astray |
| A shipment dropped off at the wrong location is forward to the proper
location free of charge. |
| Freight |
| All merchandise, goods, products, or commodities shipped by rail, air,
road, or water, other than baggage, express mail, or regular mail. |
| Freight Charge |
| The charge assessed for transporting freight. |
| Freight Claim |
| A demand upon a carrier for the payment of overcharge or loss or damage
sustained by shipper or consignee. |
| Freighter |
| A ship or airplane used primarily to carry freight. |
| Fungibles |
| Goods that are identical with other goods of the same nature. |
| Futures Contract |
| A contract for the future delivery of a specified commodity, currency
or security on a specific date at a rate determined in the present. |
