T
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. (In other words, the weight of
the packing.)
weight of a shipment less the net weight of the goods being shipped. (In other words, the weight of
the packing.)
Tariff
1. A comprehensive list or schedule of merchandise with applicable duty rates to be paid or charged
for each listed article; together with governing rules and regulations.(A customs& Tariff.)
2. A schedule of rates and charges applied by a business, especially a common carrier, together
with a description of the services offered and the rules and regulations applicable.
for each listed article; together with governing rules and regulations.(A customs& Tariff.)
2. A schedule of rates and charges applied by a business, especially a common carrier, together
with a description of the services offered and the rules and regulations applicable.
Tariff Anomaly
In a customs tariff, a tariff anomaly exists when the tariff on raw materials or semi-manufactured
goods is higher than the tariff on the finished product.
goods is higher than the tariff on the finished product.
Tariff Escalation
In a customs tariff, a situation in which duties on raw materials are nonexistent or very low; duties on
semi-processed goods are moderate; and duties on manufactured goods are relatively high.
semi-processed goods are moderate; and duties on manufactured goods are relatively high.
Tariff Rate Quotas
(Customs) Application of a higher duty rate to imported goods after a specified quantity of the item
has entered the country at a lower prevailing rate.
has entered the country at a lower prevailing rate.
Tariff Schedule
(Customs) A comprehensive list of the goods which may be imported into a country, and the import
duties applicable to each product.
duties applicable to each product.
Tariff War
(Customs) When one nation increases the tariffs on goods imported from, or exported to another
country, and that country then follows by raising tariffs itself in a retaliatory manner.
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
to locate there.
to locate there.
Temporary Importation
(Admission Temporaire)
(Admission Temporaire)
A customs procedure under which certain goods can be brought into a customs territory temporarily,
conditionally relieved from the payment of import duties and taxes; such goods must be imported for
a permitted purpose and must be intended for exportation within the permitted period.
conditionally relieved from the payment of import duties and taxes; such goods must be imported for
a permitted purpose and must be intended for exportation within the permitted period.
Tender
1. A small vessel which serves a larger vessel in a port for the purpose of supplying provisions and
carrying passengers to and from ship to shore.
2. An offer of money. An offer to supply something. An offer to present something.
3. To satisfy a claim, an unconditional offer to perform coupled with a manifest ability to carry out the
offer.
4. A car connected behind a steam railroad locomotive to carry coal and water. (Almost obsolete).
carrying passengers to and from ship to shore.
2. An offer of money. An offer to supply something. An offer to present something.
3. To satisfy a claim, an unconditional offer to perform coupled with a manifest ability to carry out the
offer.
4. A car connected behind a steam railroad locomotive to carry coal and water. (Almost obsolete).
Tenor
The term fixed for the payment of a draft or debt.
Terminal
An facility which is used by a rail, ship, air, or truck line as a place for receiving and delivering cargo;
loading; unloading; transferring; temporarily storing; recoopering; and similarly handling freight;
and repairing and servicing equipment..
loading; unloading; transferring; temporarily storing; recoopering; and similarly handling freight;
and repairing and servicing equipment..
Terminal Charge
A charge made for services performed at transportation terminals.
Terms of Trade
The ratio of the index of export prices to the index of import prices. (Note the difference from Trade
Terms
Terms
Third World Countries
Developing countries, especially in Asia, Africa, and Latin America.
Through Bill of Lading
A single bill of lading covering receipt of cargo at a point of origin for delivery to an ultimate
consignee, usually involving multiple carriers and multiple modes of transport.
consignee, usually involving multiple carriers and multiple modes of transport.
Through Rate
A shipping rate applicable to transportation from point of origin to destination where multiple
carriers and multiple modes of transport may be involved.
carriers and multiple modes of transport may be involved.
Tied Loan
A loan made by a government that requires a foreign borrower to spend the proceeds in the lender's
country.
country.
To Order
A term on a financial instrument or title document indicating that it is negotiable and transferable.
Tracer
A request upon a transportation line to trace a shipment for the purpose of locating its whereabouts,
expediting its movement or establishing delivery.
expediting its movement or establishing delivery.
Tracking
A carrier's system of recording movements of shipments from origin to destination.
Trade Acceptance
A draft drawn by the seller of goods upon the buyer who agrees to pay by signing accepted on the
draft.
draft.
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.
and services are identified.
Trade Promotion
Encouragement of the progress, growth, or acceptance of trade. (Note: Some would define it solely
as the encouragement of exports.)`
as the encouragement of exports.)`
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, the payment of
costs such as shipping, insurance, and customs; the arranging of the performance of these
activities; and the determination of when title passes. (Note the difference from Terms of Trade)
costs such as shipping, insurance, and customs; the arranging of the performance of these
activities; and the determination of when title passes. (Note the difference from Terms of Trade)
Trailer
A vehicle without motor power designed to be drawn by another vehicle.
Tramp Line
A transportation line operating tramp steamers in waterborne commerce.
Tramp Steamer
A vessel which does not operate under any regular schedule from one port to another, but calls at
any port where cargo may be obtained and charges a negotiated amount of freight. Usually they
transport breakbulk or bulk cargo.
any port where cargo may be obtained and charges a negotiated amount of freight. Usually they
transport breakbulk or bulk cargo.
Trans-Ship
1. To transfer goods from one transportation line to another, or from one ship to another, or from
one airline to another in order to complete a delivery .
2. To ship to one country, and then to re-export to another. (Sometimes the second exporting country
may be incorrectly represented as the country of origin.)
one airline to another in order to complete a delivery .
2. To ship to one country, and then to re-export to another. (Sometimes the second exporting country
may be incorrectly represented as the country of origin.)
Transaction Value
(USA) The price actually paid or payable for merchandise imported.
Transfer Of Technology
The movement of modern or scientific methods of production or distribution from one enterprise or
country to another.
country to another.
Transfers (mail, wire,
cable)
cable)
A transfer is the remittance of a sum of money to a party in another place. This may be
accomplished by mailing cash or drafts or using the services of a commercial bank or a wire
transfer company for a fee.
accomplished by mailing cash or drafts or using the services of a commercial bank or a wire
transfer company for a fee.
Transit Zone
An area in a port of entry in a coastal country that is established as a storage and distribution center
for the convenience of a neighboring country which lacks adequate port facilities or access to the
sea.
for the convenience of a neighboring country which lacks adequate port facilities or access to the
sea.
Transmittal Letter
In international commerce, a letter from the shipper or their agent transmitting documents relative to
a shipment. Usually there will be included a list of the documents enclosed and details covering the
transportation of the shipment such as the name of the carrier, date of departure etc.
.
a shipment. Usually there will be included a list of the documents enclosed and details covering the
transportation of the shipment such as the name of the carrier, date of departure etc.
.
Transparency
The extent to which laws, regulations, agreements, and practices affecting international trade are
open, clear, measurable, and verifiable.
open, clear, measurable, and verifiable.
Transport Documents
All types of documents evidencing acceptance, receipt and shipment of goods.
Transportation and
Exportation Entry
Exportation Entry
(USA) Customs entry used when merchandise arrives in the U.S. and is moved in bond to another
U.S. port for re-export to a foreign country.
U.S. port for re-export to a foreign country.
Traveler
One who passes from place to place, whether for pleasure, instruction, business or health.
Traveler's Checks
A check designed for business travelers and tourists, issued by a financial institution of sufficient
importance that it will be readily accepted or cashed by businesses and banks. For safety it is often
designed to be countersigned twice by the traveler in order to be valid, once at issuance and once
upon being cashed.
importance that it will be readily accepted or cashed by businesses and banks. For safety it is often
designed to be countersigned twice by the traveler in order to be valid, once at issuance and once
upon being cashed.
Triangular Trade
Trade between three countries which creates a more favorable flow of trade for each than would
exist between only two of them dealing directly with each other.
exist between only two of them dealing directly with each other.
Tropical Products
Agricultural goods grown in tropical zones ...coffee, tea, spices, bananas, and tropical hardwoods
etc,
etc,
Trust Receipt
A written declaration by a customer to a bank that ownership in goods released by the bank is
retained by the bank, and that the client has received the goods in trust only. Such a trust receipt
may be is given by the customer to the bank to induce the bank to issue a letter of indemnity to a
carrier to release a shipment.
retained by the bank, and that the client has received the goods in trust only. Such a trust receipt
may be is given by the customer to the bank to induce the bank to issue a letter of indemnity to a
carrier to release a shipment.
Turnkey
A term for a method of construction whereby the contractor assumes total responsibility from design
through completion of the product and release to the client in a stage so complete that the buyer
need only to turn the key to open the door and walk into a facility that is ready to operate.
through completion of the product and release to the client in a stage so complete that the buyer
need only to turn the key to open the door and walk into a facility that is ready to operate.
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.
when delivered to the other contracting party.
Two-tier Market
An exchange rate regime employed in some countries with managed currency exchange rates
where the more favorable rates are maintained for selected activities..
where the more favorable rates are maintained for selected activities..
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,
for example in the U.S. the Clayton and the Sherman anti-trust Acts.
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,
for example in the U.S. the Clayton and the Sherman anti-trust Acts.
U
Ultimate Consignee
The person who is the true party in interest, receiving goods for
the designated end use.
the designated end use.
UN/Edifact
United Nations Electronic Data Interchange for Administration,
Commerce and Transport: A United Nations approved Electronic
Data Interchange standard.
Commerce and Transport: A United Nations approved Electronic
Data Interchange standard.
Unconfirmed Letter Of Credit
A type of letter of credit bearing the obligation of the issuing bank
only, not of any other bank.
only, not of any other bank.
Unconscionable
Unreasonable; outrageous. Courts in many countries may refuse
to enforce contracts which they deem to be unconscionable.
to enforce contracts which they deem to be unconscionable.
Underdeveloped Country
A nation which, comparative to others, lacks industrialization,
infrastructure, developed agriculture, and developed natural
resources, and suffers from a low per capita income as a result.
infrastructure, developed agriculture, and developed natural
resources, and suffers from a low per capita income as a result.
Unfair Trade Practice
Unusual government support to firms, ranging from export
subsidies to anti- competitive practices by the firms themselves,
such as dumping, boycotts or discriminatory shipping
arrangements, that result in competitive advantages in
international trade for the benefitting firms.
subsidies to anti- competitive practices by the firms themselves,
such as dumping, boycotts or discriminatory shipping
arrangements, that result in competitive advantages in
international trade for the benefitting firms.
Uniform Commercial Code
(USA) A law governing commercial transactions (sales of goods,
commercial paper, bank deposits and collections, letter of
credits, bulk transfers, warehouse receipts, bills of lading,
investment securities, and secured transactions) adopted by all
states in the US except Louisiana.
commercial paper, bank deposits and collections, letter of
credits, bulk transfers, warehouse receipts, bills of lading,
investment securities, and secured transactions) adopted by all
states in the US except Louisiana.
Unit Load
Various cargo carrying devices, or sizes of containers, which
carry several smaller shipping packages, including the banding
together of a number of individual packages on a pallet to create
a single unit.
carry several smaller shipping packages, including the banding
together of a number of individual packages on a pallet to create
a single unit.
Unit Load Device
Term commonly used when referring to containers and pallets
and similar devices which consolidate packages of freight for
mechanical handling.
and similar devices which consolidate packages of freight for
mechanical handling.
United Nations Conference On
Trade And Development
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.
trade and seeks to increase trade between developing countries
and countries with different social and economic systems.
United Nations Industrial
Development Organization
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.
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
Commercial Service
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.
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.
also local offices of the U.S. Government Printing Office in major
U.S. cities.
United States Customs
Service (USCS)
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.
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
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.
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)
Commerce (DOC)
An executive department which encourages and promotes the
United States' economic growth, international trade, and
technological advancement.
United States' economic growth, international trade, and
technological advancement.
United States Department Of
Defense
Defense
A civilian executive department providing the military forces
needed to deter war and protect the security of the U.S.
needed to deter war and protect the security of the U.S.
United States Department Of
Energy (DOE)
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.
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)
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.
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
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.
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)
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.
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
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.
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)
Transportation (DOT)
An executive department of the U.S. government which is
responsible for the development of national transportation
policies.
responsible for the development of national transportation
policies.
United States Information
Agency (USIA)
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.
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
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.
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
(USA) In the context of investigations regarding dumping, this
term refers to the price at which goods are sold to the U.S.
compared to the sale price in the home market or in 3rd
countries. The comparisons are used in the process of
determining whether the imported merchandise is sold to the
United States at less than fair value.
term refers to the price at which goods are sold to the U.S.
compared to the sale price in the home market or in 3rd
countries. The comparisons are used in the process of
determining whether the imported merchandise is sold to the
United States at less than fair value.
United States Trade And
Development Agency
Development Agency
The U.S. Trade and Development Agency assists in the creation of
jobs for Americans by helping U.S. companies pursue
overseas business opportunities. Through the funding of
feasibility studies, orientation visits, specialized training grants,
business workshops, and various forms of technical
assistance, we help American businesses compete for
infrastructure and industrial projects in middle-income and
developing countries.
jobs for Americans by helping U.S. companies pursue
overseas business opportunities. Through the funding of
feasibility studies, orientation visits, specialized training grants,
business workshops, and various forms of technical
assistance, we help American businesses compete for
infrastructure and industrial projects in middle-income and
developing countries.
United States Trade
Representative
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.
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
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 and
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
government imposed travel barriers.
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 and
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
government imposed travel barriers.
United States-Canada Free
Trade Agreement
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. It was followed by the North American Free
Trade Agreement (NAFTA) which also includes Mexico.
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. It was followed by the North American Free
Trade Agreement (NAFTA) which also includes Mexico.
Unitization
The practice or technique of consolidating many small pieces of
freight into a single unit for easier handling.
freight into a single unit for easier handling.
Universal Copyright Convention
An international agreement that affords copyright protection to
literary and artistic works in all countries that voluntarily agree to
be bound by the Convention terms.
literary and artistic works in all countries that voluntarily agree to
be bound by the Convention terms.
Unloading
1. The physical removal of cargo from a vessel, a truck, an
airplane, a railroad car.
2. The physical removal of cargo from a container; also called
devanning.
airplane, a railroad car.
2. The physical removal of cargo from a container; also called
devanning.
Unrestricted Letter Of Credit
A letter of credit which may be negotiated through any bank of the
beneficiary's choice.
beneficiary's choice.
Uruguay Round
The eighth round of multilateral trade negotiations under the
General Agreement on Tariffs and Trade (GATT). The Uruguay
Round (so named because meetings began in Punta de Este,
Uruguay in 1987) concluded in December, 1993 after seven
years of talks between 117 member nations. From these
negotiations the World Trade Organization came into being.
General Agreement on Tariffs and Trade (GATT). The Uruguay
Round (so named because meetings began in Punta de Este,
Uruguay in 1987) concluded in December, 1993 after seven
years of talks between 117 member nations. From these
negotiations the World Trade Organization came into being.
Usance
The common period fixed for payment by usage, custom, or habit
of dealings between the country where a bill of exchange is drawn
and that where it is payable. It varies according to the countries
involved.
of dealings between the country where a bill of exchange is drawn
and that where it is payable. It varies according to the countries
involved.
Users Fee
(USA) Assessments collected by the U.S. Customs Service to
help defray various costs to Customs involved in the handling of
shipments.
help defray various costs to Customs involved in the handling of
shipments.
| International Trade Terms |
|
| |||||||||||||||||||||||||||||||||||||||||
|
