Glossary of International Trade Terms  [A] [B] [C] [D] [E] [F] [G] [H] [ I ] [J] [K] [L] [M] [N] [O] [P] [Q] [R] [S] [T] [U] [V] [W] [X] [Y] [Z]  T Table Of Denial Orders A list of individuals and firms which have been disbarred from shipping or receiving U.S. goods or technology. Firms and individuals on the list may be disbarred with respect to either controlled commodities or general destination (across-the-board) exports. Tare Weight The weight of a container and/or packing materials, but without the goods being shipped. The gross weight of a shipment less the net weight of the goods being shipped. Tariff A comprehensive list or "schedule" of merchandise with applicable rates to be paid or charged for each listed article; or a schedule of shipping rates charged, together with governing rules and regulations. Tariff Anomaly A tariff anomaly exists when the tariff on raw materials or semi-manufactured goods is higher than the tariff on the finished product. Tariff Escalation A situation in which tariffs on manufactured goods are relatively high, tariffs on semi-processed goods are moderate, and tariffs on raw materials are nonexistent or very low. Tariff Quotas Application of a higher tariff rate to imported goods after a specified quantity of the item has entered the country at a lower prevailing rate. Tariff Schedule A comprehensive list of the goods which a country may import and the import duties applicable to each product. Tariff War When one nation increases the tarifs on goods imported from, or exported to another country, and that country then follows by raising tariffs itself in a retaliatory manner. Tax Haven A nation offering low tax rates and other incentives for individuals and businesses of other countries. Tender A small vessel which serves a larger vessel in a port for the purpose of supplying provisions and carrying passengers from ship to shore. Tenor The period between the formation of a debt and the date of expected payment. Terminal The area at the end of a rail, ship, air, or truck line which serves as a loading, unloading, transfer point, and storage/repair facillity. Terminal Charge A charge made for services performed at terminals. Terms of Trade The volume of exports that can be traded for a given volume of imports. Third World Countries Developing countries, especially in Asia, Africa, and Latin America, but excluding communist countries. Through Bill of Lading A single bill of lading covering receipt of cargo at the point of origin for delivery to the ultimate consignee. Through Rate A shipping rate applicable from point of origin to destination. Tied Loan A loan made by a government agency that requires a foreign borrower to spend the proceeds in the lender's country. To Order A term on a financial instrument or title document indicating that it is negotiable and transferrable. Tracer A request upon a transportation line to trace a shipment for the purpose of expediting its movement or establishing delivery. Tracking A carrier's system of recording movement intervals of shipments from origin to destination. Trade Deficit A nation's excess of imports over exports over a period of time. Trade Name The name under which an organization conducts business, or by which the business or its goods and services are identified. Trade Promotion Encouragement of the progress, growth, or acceptance of trade.  Trade Surplus A nation's excess of exports over imports over a period of time. Trade Terms The setting of responsibilities of the buyer and seller in a sale including sale price, shipping, insurance, and customs. Trailor A vehicle without motor power designed to be drawn by another vehicle. Tramp Line A transportation line operating tramp steamers. Tramp Steamer A steamship which does not operate under any regular schedule from one port to another, but calls at any port where cargo may be obtained. Trans-Ship To transfer goods from one transportation line to another, or from one ship to another of different ownership. Transaction Value The price actually paid or payable for merchandise. Transfer Of Technology The movement of modern or scientific methods of production or distribution from one enterprise to another. Transfers (mail, wire, cable) Transfers are the remittance of money by a bank to be paid to a party in another town or city. Transit Zone A port of entry in a coastal country that is established as a storage and distribution center for the conveinience or a neighboring country lacking adequate port facilities or access to the sea. Transmittal Letter A list of the particulars of a shipment and a record of the documents being transmitted together with instructions for dispositon of documents. Transparency The extent to which laws, regulations, agreements, and practices affecting international trade are open, clear, measurable, and verifiable. Transport Documents All types of documents evidencing acceptance, receipt and shipment of goods. Transportation and Exportation Entry Customs entry used when merchandise arrives in the U.S. and is destined for a foreign country. Traveler A person who stays for a period of less than one year in a country of which he or she is not a resident. Traveler's Checks A form of check especially designed for travelers, including persons on vacation and business trips. Tri-Temp A container that can maintain three exact temperature zones in difference compartments simultaneously. Triangular Trade Trade between three countries, in which an attempt is made to create a favorable balance for each. Tropical Products Agricultural goods of export interest to developing countries in the tropical zones of Africa, Latin America, and East Asia (coffee, tea, spices, bananas, and tropical hardwoods). Trust Receipt A declaration by a client to a bank that ownership in goods released by the bank are retained by the bank, and that the client has received the goods in trust only.  Turnkey A method of construction whereby the contractor assumes total responsibility from design through completion of the product. Turnkey Contract An agreement under which a contractor agrees to complete a product so that it is ready for use when delivered to the other contracting party. Two-Tier Market An exchange rate regime which normally insulates a country from the balance of payments effects of capital flows while it maintains a stable exchange rate for current account transactions. Tying Arrangement A condition that a seller imposes on a buyer, requiring that if the buyer desires to purchase one product (tying product), the buyer must also agree to purchase another product (tied product), which the buyer may or may not want. The laws of some countries prohibit certain tying arrangements. U Ultimate Consignee The person who is the true party in interest, receiving goods for the designated end use. Ultimo Day The last business day or last stock trading day of a month. Un/Edifact United Nations Electronic Data Interchange for Administration, Commerce and Transport: A nationally accepted Electronic Data Interchange standard.  Unconfirmed A documentary letter of credit where the advising bank makes no commitment to pay, accept, or negotiate. Unconscionable Unfair or oppressive. Underdeveloped Country A nation in which per capita re income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. Unfair Trade Practice Unusual government support to firms such as export subsidies to certain anticompetitive practices by firms themselves such as dumping, boycotts or discriminatory shipping arrangements that result in competitive advantages for the benefiting firms in international trade. Uniform Commercial Code A set of statutes purporting to provide some consistency among states' commercial laws.  Unit Load The strapping or banding together of a number of individual cargo containers in order to create a single unit. Unit Load Device Term commonly used when referring to containers and pallets. United Nations Conference On Trade And Development A part of the UN General Assembly which promotes international trade and seeks to increase trade between developing countries and countries with different social and economic systems.  United Nations Industrial Development Organization Established in 1967, under the UN Secretariat, UNIDO serves as a specialized agency to foster industrial development in lesser developed countries through offering technical assistance in the form of expert services, supplying equipment and/or training.  United States And Foreign Commercial Service An agency of the U.S. Department of Commerce that helps U.S. firms be more competitive in the global marketplace. United States Code (USC) A set of volumes containing the official compilation of U.S. law. are also local offices of the U.S. Government Printing Office in major U.S. cities. United States Customs Service (USCS) U.S. governmental agency whose primary duties include the assessment and collection of all duties, taxes and fees on imported merchandise, and the enforcement of customs and related laws and treaties.  United States Department Of Agriculture An executive department which serves as the principal adviser to the president on agricultural policy. which works to improve and maintain farm income, implement nutrition programs and develop and expand markets abroad for U.S. agricultural products. It is also charged with inspecting and grading food products for safe consumption. United States Department Of Commerce (DOC) An executive department which encourages and promotes the United States' economic growth, international trade, and technological advancement. United States Department Of Defense A civilian executive department providing the military forces needed to deter war and protect the security of the U.S. United States Department Of Energy (DOE) An executive department created in 1977 to consolidate all major Federal energy functions into one department. The principal programmatic missions are energy programs, weapons and waste clean-up programs, and science and technology programs. United States Department Of Labor (DOL) An executive department which promotes and develops the welfare of U.S. wage earners, improves working conditions, and advances opportunities for profitable employment. The DOL keeps track of changes in employment, prices, and other national economic measures. United States Department Of State An executive department which directs U.S. foreign relations and negotiates treaties and agreements with foreign nations. Activities of the State Department are coordinated with foreign activities of other U.S. departments and agencies. United States Department Of The InTerior (DOI) An executive department that has responsibility for most U.S. federal government owned public lands and natural resources; the principal U.S. conservation agency. The office of Territorial and International Affairs oversees activities pertaining to U.S. territorial lands and the Freely Associated States and coordinates the international affairs of the Department. United States Department Of The Treasury An executive department which performs four basic functions: formulating and recommending economic, financial, tax and fiscal policies; serving as financial agent for the U.S. government; enforcing the law; and, manufacturing coins and currency. United States Department Of Transportation (DOT) An executive department of the U.S. government which is responsible for the development of national transportation policies. United States Information Agency (USIA) Responsible for the U.S. government overseas information and cultural programs, including Voice of America. Conducts a wide variety of communication activities-academic and cultural exchanges to press, radio, television and library programs abroad in order to strengthen foreign understanding of American society, obtain greater support of U.S. policies, and increase understanding between the U.S. and other countries. United States International Trade Commission An independent fact-finding agency of the U.S. government that studies the effects of tariffs and other restraints to trade on the U.S. economy. It conducts public hearings to assist in determining whether particular U.S. industries are injured or threatened with injury by dumping, export subsidies in other countries, or rapidly rising imports. United States Price In the context of dumping investigations, this term refers to the price at which goods are sold in the U.S. compared to their foreign market value. The comparisons are used in the process of determining whether imported merchandise is sold at less than fair value. United States Trade And Development Agency An independent agency within the executive branch. Its mandate is to promote economic development in, and simultaneously export U.S. goods and services to, developing and middle-income countries. The Agency conducts feasibility studies and orientation visits, and provides trade-related training to assist U.S. firms in becoming involved in developing projects with substantial U.S. export potential. United States Trade Representative A cabinet-level official with the rank of Ambassador who is the principal adviser to the President on international trade policy, and has responsibility for setting and administering overall trade policy. The U.S. Trade Representative is concerned with the expansion of U.S. exports. United States Travel And Tourism Administration An organization within the Department of Commerce which: stimulates demand internationally for travel to the United States, coordinates marketing projects and programs with U.S. and international travel interests, encourages and facilitates promotion in international travel markets by U.S. travel industry principals, works to increase the number of new-to-market travel businesses participating in the export market, generates cooperative marketing opportunities for private industry ane regional and local governments, researches and provides timely and pertinent data, carries on training programs in international marketing for U.S. professionals, and works to remove goverment imposed travel barriers. United States-Canada Free Trade Agreement The provisions of the US/Canada Free Trade Agreement were adopted by the US with the enactment of the FTA Implementation Act of 1988. The FTA reduced tariffs on imported merchandise between Canada and the U.S. and opened up new areas of trade in investment. Unitization The practice or technique of consolidating many small pieces of freight into a single unit for easier handling. Universal Copyright Convention An international agreement that was concluded to afford copyright protection to literary and artistic works in all countries that voluntarily agree to be bound by the Convention terms. Unloading The physical removal of cargo from carrier's container. Unrestricted Letter Of Credit  A letter of credit which may be negotiated through any bank of the beneficiary's choice. Uruguay Round The eighth round of multilateral trade negotiations concerning the General Agreement on Tariffs and Trade (GATT). The Uruguay Round (so named because meetings began in Punta del Este, Uruguay in 1987) concluded in December, 1993 after seven years of talks with 117 member nations. USCS United States Customs Service. USDA United States Department of Agriculture. Users Fee Assesssments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. Users Fees Assessments collected by the U.S. Customs Service as part of the entry process to help defray various costs involved in the importation of goods to the United States. Usuance The time allowed for payment of an international obligation. V Validated Export License A document issued by the U.S. Government authorizing the export of commodities for which written export authorization is required. Validity The time period for which a letter of credit is valid. Valuation The appraisal of the worth of imported goods by customs officials for the purpose of determining the amount of duty payable in the importing country. Valuation Charges Transportation charges assessed shippers who declare a value of goods higher than the value of the carriers' limits of liability. Value Added That part of the value of produced goods developed in a company. It is determined by subtracting from sales the costs of materials and supplies, energy costs, contract work, and so on, and it includes labor expenses, administrative and sales costs, and other operating profits. Value-Added Tax  An indirect tax on consumption that is assessed on the increased value of goods at each discrete point in the chain of production and distribution, from the raw material stage to final consumption. The tax on processors or merchants is levied on the amount by which they increase the value of items they purchase and resell. Vendor A company or individual that supplies goods or services. Vertical Export Trading Company An export trading company that integrates a range of functions taking products from suppliers to consumers. Vessel Ton A unit of measurement in the shipping industry assuming that 100 cubic feet of cargo equals one ton. Visa A license issued by the government of an exporting country for the export to a specific importing country of a certain quantity of a quota controlled commodity subject to a voluntary export restriction or a voluntary restraint agreement. Visa Waiver A program of selected countries to eliminate their visa requirement on a test basis. Volatility The measure of the relative deviation of a price from the mean. Volume Rate A rate applicable in connection with a specified volume of freight. Voluntary Export Restriction An understanding between trading partners in which the exporting nation, in order to reduce trade friction, agrees to limit exports of a particular good. Voluntary Restraint Agreements  Informal bilateral or multilateral arrangements through which exporters voluntarily restrain certain exports, usually through export quotas to avoid economic dislocation in an importing country and to avert the possible imposition of mandatory import restrictions. To the Top reserved. dilsa@encomix.es