Resources
Glossary
- Customs clearance: The process of declaring goods to a country's customs authorities and paying any duties or taxes that are due.
- Indirect customs representation: A service where a company represents another company for customs purposes, without being the importer of record.
- Importer of Record (IOR): A person or company that is responsible for declaring goods to a country's customs authorities and paying any duties or taxes that are due.
- Exporter of Record (EOR): A person or company that is responsible for exporting goods from their home country and ensuring compliance with all export regulations.
- Authorized representation: A service where a company is authorized to act on behalf of another company for customs purposes, including preparing and submitting necessary documentation and paying any duties or taxes that are due.
- Fiscal representation: A service where a company represents another company for fiscal purposes, such as VAT registration and reporting.
- Bill of Lading: A legal document that serves as a receipt for the goods being transported by a carrier.
- Airway Bill: A document used in the shipment of goods by air that serves as a receipt, a contract between the shipper and carrier, and a document of title to the goods.
- Denied Party Screening: A process used to verify that individuals or entities are not on any government sanctions lists or other prohibited party lists.
- Electronic Export Information (EEI): Information that must be filed with the U.S. government regarding the export of certain goods from the United States.
- Free Trade Agreement: An agreement between two or more countries to remove or reduce trade barriers, such as tariffs and quotas.
- Harmonised System: A standardized system of names, codes, and numbers used to classify goods for customs purposes.
- IATA: International Air Transport Association: A trade association that represents and serves the airline industry worldwide.
- Power of Attorney: A legal document that grants a person the authority to act on behalf of another person.
- Certificate of Conformity: A certificate that verifies that a product conforms to specified standards and regulations.
- Shipper’s Export Declaration (SED): A document required by the U.S. government that provides information about the shipment of goods from the United States for certain commodities.
- Shipper’s Letter of Instruction (SLI): A document that provides instructions to the carrier and other parties involved in the shipment of goods.
- Certificate of Origin: A document that certifies the country of origin of goods.
- Automated Export System (AES): An electronic system used by the U.S. government to collect and maintain export data.
- Commercial Invoice: A document that details the goods being sold, the price, and other terms of the sale.
- Packing List: A document that lists the contents of a shipment of goods.
- Dangerous Goods Note: A document that accompanies dangerous goods during transportation and contains information about the nature, properties, and handling requirements of the goods.
- Dangerous Goods Regulations: Regulations set by international organizations such as the International Air Transport Association (IATA) and the International Maritime Organization (IMO) to ensure the safe transport of dangerous goods by air or sea. These regulations outline the classification, packaging, marking, labelling, and documentation requirements for dangerous goods.
- Incoterms: International commercial terms that define the responsibilities of buyers and sellers in international trade transactions. Incoterms specify the responsibilities of each party with regards to the delivery of goods, including responsibilities for shipping, transportation, customs clearance, and delivery. Examples of Incoterms include FOB, CIF, and DDP.
- EXW (Ex Works): The seller's responsibility is limited to making the goods available at their premises. The buyer is responsible for all costs and risks involved in the transportation of the goods from the seller's premises to the final destination.
- FCA (Free Carrier): The seller delivers the goods to the carrier nominated by the buyer at the seller's premises. The seller's responsibility for the goods ends once they have been delivered to the carrier.
- FAS (Free Alongside Ship): The seller delivers the goods alongside the ship at the port of shipment. The seller's responsibility for the goods ends once they have been delivered alongside the ship.
- FOB (Free On Board): The seller delivers the goods on board the shipping vessel at the port of shipment. The seller's responsibility for the goods ends once they have been delivered on board the shipping vessel.
- CFR (Cost and Freight): The seller is responsible for the delivery of the goods to the port of destination, including the cost of transportation. The buyer is responsible for the cost of loading and unloading the goods and the risks involved in the transportation of the goods.
- CIF (Cost, Insurance and Freight): The seller is responsible for the delivery of the goods to the port of destination, including the cost of transportation and the cost of insurance. The buyer is responsible for the cost of loading and unloading the goods and the risks involved in the transportation of the goods.
- DAP (Delivered At Place): The seller is responsible for the delivery of the goods to the agreed place of destination, including the cost of transportation. The buyer is responsible for the cost of loading and unloading the goods and the risks involved in the transportation of the goods.
- DDP (Delivered Duty Paid): The seller is responsible for the delivery of the goods to the agreed place of destination, including the cost of transportation, customs clearance, and payment of duties and taxes. The buyer is responsible for the cost of loading and unloading the goods.