Terms used in export business such as Aircraft spare parts depot,Alongside,Anti-dumping duty,arrival notice,ATA Carnet etc.
This post explains about terms used in export business such as Air waybill,Airport of receipt,Aircraft spare parts depot,Alongside,Anti-dumping duty,arrival notice,ATA Carnet,Autarky,Authority to Pay etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
Terms used in export business
Aggregate demand - is the sum of all demand in an economy. This can be computed by adding the expenditure on consumer goods and services, investment, and not exports (total exports minus total imports).
Aggregate supply - is the total value of the goods and services produced in a country, plus the value of imported goods less the value of exports.
Agricultural component (AC) :A Customs (import) charge applicable to goods processed from certain basic agricultural products.
Air waybill - A bill of lading that covers both domestic and international flights transporting goods to a specified destination. This is a nonnegotiable instrument of air transport that serves as a receipt for the shipper, indicating that the carrier has accepted the goods listed and obligates itself to carry the consignment to the airport of destination according to specified conditions. Compare Inland bill of lading, Ocean bill of lading, and Through bill of lading.
Air Waybill - It is the shipping document
used for the transportation of airfreight that includes conditions, limitations of liability, shipping instructions, description of commodity, and the applicable transportation charges. It is usually similar to a non-negotiable bill of lading and is used for similar purposes.
Air Waybill (AWB): A kind of waybill used for the carriage of goods by air. This serves as a receipt of goods for delivery and states the condition of carriage but is not a title document or transferable/negotiable instrument.
Air waybill: a bill of lading (see Bill of lading) that covers both domestic and international flights carrying goods to a specified destination.
Aircraft spare parts depot (ASPD) :Location at which imported spare parts for certain aircraft can be stored without payment of customs duty or import VAT. Only spare parts for eligible aircraft can benefit from the ASPD regime. In order to be considered eligible, an aircraft must be: (i) registered outside the UK (aircraft based in the Channel Islands and Gibraltar are considered to be based outside the UK); or (ii) owned and operated by a person whose main place of business is outside the UK; or (iii) used in international air transport services. Only civil aircraft are eligible.
Airport of receipt (AOR) :The cargo community system (CCSUK) airport at which a transit shed operator creates a consignment record for uncleared imported goods.
Airwaybill:The carrying agreement between shipper and air carrier which is obtained from the airline used to ship the goods.
Alcohol ingredients relief (AIR) :Various alcoholic beverages are to be relieved from excise duty when used, within certain limits, as ingredients for specified classes of food.
All Risks Clause:An insurance provision which provides additional coverage to an Open Cargo Policy, usually for an additional premium. Contrary to its name, the clause does not protect against all risks. The more common perils it does cover are theft, pilferage, non-delivery, fresh water damage, contact with other cargo, breakage, and leakage. Inherent vice, loss of market, and losses caused by delay are not covered.
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.
Alternative means of gaining assurance (AMOGA) :Based on checks of records obtained from the trader, or HM Revenue & Customs visits targeted at a particular area of the trader's activities.
Animal health imports controls :Many types of live animal and animal products are subject to health controls on import to the European Union (EU). Animals susceptible to rabies are subject to health controls on entry to the UK, even if they arrive from other EU member states (except the Irish Republic). In the UK, all animal health controls are enforced by the Department of the Environment, Food and Rural Affairs (DEFRA).
Anti-diversion clause - See Destination control statement.
Anti-dumping :If a company exports a product at a price lower than the price it normally charges in its home market, it's said to be dumping the product. Member countries of the World Trade Organisation may be able to impose certain measures on other members that dump products on their markets.
Anti-dumping duties - It is an additional duties which are imposed on imported goods when these goods are sold to the importing country at a lower price than what it is charged in the home market.
Anti-dumping duty (ADD) :A customs duty on imports, providing protection against the dumping of cheap goods in the European Union (EU) by foreign producers.
Applicant – The person who applies for an export or re-export license, and who has the authority of a principal party in interest to determine and control the export or re-export of items.
Arbitrage - It is a term used for the process of buying foreign exchange, stocks, bonds or any other commodities in one market and selling them immediately in another market at a higher price.
arrival notice: This document advises consignees (named in the bill of lading) that cargoes have arrived, the condition of the cargo if other than expected, and any charges due.
Asian dollars - U.S. dollars deposited in Asia and the Pacific Basin. Compare Eurodollars.
Asian dollars :US dollars deposited in Asia and the Pacific Basin.
Assessment - A study to determine whether, and to what extent, labour practices comply with the provisions of a code of labour practice. The term can refer to the study of a workplace but can also apply to more general studies such as to an industry within a country.
at sight: A phrase indicating that payment on a draft or other negotiable instrument is due upon presentation or demand.
ATA Carnet :An international customs document used to obtain a duty-free temporary admission for goods such as exhibits for international trade fairs, samples and professional equipment, into the countries that are signatories to the ATA Convention.
ATA Carnet: A customs document which enables one to carry or send goods temporarily into certain foreign countries without paying duties or posting bonds.
ATA Carnet:An ATA Carnet (a. k. a. "Merchandise Passport") is a document that facilitates the temporary importation of products into foreign countries by eliminating tariffs and value-added taxes (VAT) or the posting of a security deposit normally required at the time of importation.
ATA: admission temporaire or temporary export, used in conjunction with the term carnet.
Audit - A thorough formal examination of the labour practices of a particular workplace or company, based on corroborated evidence.
Autarky - An autarky is an economy that does no trade with the outside world, or an ecosystem not affected by influences from its outside, and relies entirely on its own resources.
Authorised Economic Operator (AEO) :The AEO certificate is an internationally recognised quality mark which tells people that your role in the international supply chain is secure, and that your customs controls and procedures are efficient and compliant. Your business must be established in the European Community.
Authorised operator :A trader authorised by HM Revenue & Customs (HMRC) to operate one or more simplified export procedures: simplified declaration procedure (SDP) and local clearance procedure (LCP) and/or a designated export place (DEP). It also includes an exporter or third party allowed to make full export declarations to the Customs Handling of Import and Export Freight (CHIEF) system.
Authority to Pay:A document comparable to a revocable letter of credit but under whose terms the authority to pay the seller stems from the buyer rather than from a bank.
Average propensity to consumer - is the proportion of income the average family spends on goods and services.
The above details describes about terms called in export business such as Air waybill,Airport of receipt,Aircraft spare parts depot,Alongside,Anti-dumping duty,arrival notice,ATA Carnet,Autarky,Authority to Pay etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in export trade below this post.continue reading: Terms used in export business such as Account sales,Ad Valorem Tariff,Ad valorem,Admission temporaire carnet,Advisory capacity
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