Terms used in international trade business such as Cabotage,Cairns Group,Canada-EU Action Plan,Call option,Cargo aircraft only,Capital Lease

 

Terms used in international trade business such as Cabotage,Cairns Group,Canada-EU Action Plan,Call option,Cargo aircraft only,Capital Lease etc

 

This post explains about terms used in international trade business such as By collection,By negotiation,Cost and Freight,Cabotage,Cairns Group,Canada-EU Action Plan,Call option,Cargo aircraft only,Capital Lease 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 international trade business

 

By collection:Drafts or cheques paid by collection are returned to the bank on which they were drawn to be paid

 

By negotiation:Drafts or cheques paid by negotiation are paid immediately

 

C - Celsius or Centigrade.

 

Terms used in international trade  business such as Cabotage,Cairns Group,Canada-EU Action Plan,C & F -Older term of sale (Incoterm®) that is no longer in use.

 

C & I (Cost and Insurance) - Pricing term indicating that these costs are included in the quoted price.

 

C CL:Continuation Clause

 

C Dk:Containers Carried on Deck

 

C of C:Chamber of Commerce

 

C&D:Collected and Delivered

 

C&E:Customs and Excise

 

C&F NAMED PORT:Cost and freight. The seller must pay all costs of goods and transportation to the named port; these costs are included in the price quoted. Buyer pays risk insurance once the goods are aboard the ship up to overseas inland destination.

 

C&F:Cost and Freight (now obsolete - superseded by CFR - see also Incoterms 2010)

 

C.F.R. (Cost and Freight) and C.I.F. (Cost, Insurance, and Freight):Indicate that the seller will deliver the goods onto a vessel and pay all the normal charges to get the cargo to the named seaport. The buyer assumes all risks from the time the cargo is placed onto the vessel at the seaport of loading. C.I.F. also indicates that the seller arranges for insurance as an automatic condition of the contract.

 

C.I.F. & E.: Price quoted includes currency exchange from U.S. dollars to foreign money as well as C.I.F.

 

C.I.F. DUTY PAID:The seller includes in the final price to the buyer, in addition to C.I.F., the estimated U.S. duty.

 

C.I.F. NAMED PORT: Cost, insurance, freight. Same as C&F except seller also provides insurance up to the named destination.

 

C.I.F.:Cost, Insurance, and Freight. A pricing term under which the seller pays all expenses involved in the placing of merchandise on board a carrier and in addition prepays the freight and insures the goods to an agreed destination.

 

C/D:Commercial Dock /Customs declaration /Consular declaration

 

C/I:Consular Invoice, Channel Islands, Certificate of Insurance

 

C/L:Craft Loss

 

C/N:Consignment Note /Cover Note

 

C/nee:Consignee

 

C/P: Charter Party

 

c/s - Case(s).

 

C/S:Currency Surcharge

 

C/V:Certificate of Value

 

C/VO:Certificate of Value and Origin

 

CA:Compensatory Agreement

 

CAA:Civil Aviation Authority

 

CAAC:Customs and Excise

 

CAB:Civil Aeronautics Board (USA)

 

Cabotage - Law which requires coastal and intercoastal movement of goods to be carried aboard ships registered in the country that owns the coast.

 

CACM:Central American Common Market

 

CAD - See Cash against documents.

 

CAD:Cash Against Documents /Commercial Agents Directive

 

CAF - See Currency adjustment factor.

 

CAF:Currency Adjustment Factor

 

Cairns Group: A coalition of fifteen agricultural exporting countries (Australia, New Zealand, Argentina, Brazil, Uruguay, Chile, Colombia, Thailand, Philippines, Indonesia, Malaysia, South Africa, Fiji, Paraguay and Canada) that develops proposals on agriculture during the Uruguay Round.

 

Call - Demand for payment under a loan or guarantee. In the case of demand guarantees, the abusive resort to the guarantee (i.e. in the absence of non-compliance by the principal) is sometimes referred to as an unfair call.

 

Call option:An option that gives the holder the right (but not the obligation) to buy a fixed amount of currency from the option writer (option seller) at a predetermined exchange rate (strike price) prior to the option’s expiry stipulated in the contract.

 

CAN:Customs Assigned Number

 

Canada-EU Action Plan: Signed on December 17, 1996, the Action Plan is designed to strengthen Canada-EU relations and consists of four parts: Economic and Trade Relations, Foreign Policy and Security Issues, Transnational Issues, and Fostering Links.

 

CANDF:Cost and Freight to Foreign Port

 

CAP:Common Agricultural Policy

 

Capital Lease: Type of lease classified and accounted for by a lessee as a purchase and by the lessor as a sale or financing, if it meets any one of the following criteria: (a) the lessor transfers ownership to the lessee at the end of the lease term; (b) the lease contains an option to purchase the asset at a bargain price; (c) the lease term is equal to 75 percent or more of the estimated economic life of the property (exceptions for used property leased toward the end of its useful life); or (d) the present value of minimum lease rental payments is equal to 90 percent or more of the fair market value of the leased asset less related investment tax credits retained by the lessor. (Also see finance lease.)

 

Cargo aircraft only - Aircraft that is used to transport cargo and is not engaged in carrying passengers. The terms cargo aircraft only, cargo-only aircraft and cargo aircraft have the same meaning.

 

Cargo NES or Cargo NOS (Cargo Not Elsewhere Specified or Cargo Not Otherwise Specified) - Carrier’s tariff description for items not specifically listed in the tariff. Usually the highest rate.

 

Caribbean Basin Economic Recovery Act (CBERA) - Provides nonreciprocal tariff preference to eligible goods entered into the U.S. from developing countries in the Caribbean Basin in order to aid in their economic development.

 

The above details describes about terms called in international trade business such as By collection,By negotiation,Cost and Freight,Cabotage,Cairns Group,Canada-EU Action Plan,Call option,Cargo aircraft only,Capital Lease etc These phrases may help importers and exporters on their day to day export import business activities. The readers can also add more information about terms used in international business trade below this post. continue reading:Terms used in international trade business such as Blank endorsement,Blocks 23-25,Bolero,Bonded warehouse, Built-in Agenda,Bunker adjustment factor

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