Terms used in international trade business such as carnet,cash against documents,cash with order,category groups,ccc mark

 

Terms used in international trade business such as carnet,cash against documents,cash with order,category groups,ccc mark etc.

 

 

This post explains about terms used in international trade business such as caricom, carifta,carnet,cash against documents,cash with order,category groups,ccc mark,central bank,certiciate of manufacture 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

 

CARIBBEAN DEVELOPMENT BANK (CDB):CDB, founded in 1970, provides financing to foster economic development and integration in the Caribbean. The CDBs members are the governments of Antigua, Bahamas, Barbados, Belize, British Virgin Islands, Canada, Cayman Islands, Colombia, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts-Nevis, St. Lucia, St. Vincent, Trinidad and Tobago, Turks and Caicos Islands, the United Kingdom, and Venezuela. Headquarters are located in Barbados.

 

CARICOM - Caribbean Common Market includes 13 English speaking Caribbean countries. This common market was formed in 1973. See Common Market.

 

Terms used in international trade  business such as carnet,cash against documents,cash with order,category groups,ccc mark etcCARICOM: The Caribbean Community and Common Market, founded in 1973. Member countries are Antigua, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts-Nevis, St. Lucia, St. Vincent, Trinidad and Tobago and Anguilla. Headquarters are in Guyana. Related organizations are the Caribbean Investment Corporation and the Caribbean Monetary Fund.

 

CARICOM:Caribbean Community and Common Market

 

CARIFTA:Caribbean Free Trade Association

 

Carnet - Customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries (for display, demonstration, or similar purposes) without paying duties or posting bonds or undertaking the usual customs formalities typically required for the entry of goods.

 

Carnet - A customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries (for display, demonstration, or similar purposes) without paying duties or posting bonds.

 

Carriage paid to (CPT) and Carriage and insurance paid to (CIP) - Incoterms indicating that carriage, or carriage and insurance, are paid by the seller to the named place of destination. With either term, the buyer bears the risk of loss and damage while goods are in international transit. They may be used in place of CFR and CIF respectively as they accommodate all modes of transport.

 

Carrier certificate and release order (Carrier certificate) - Used to advise Customs of the details of the shipment, its ownership, port of lading, etc. By means of this document, the carrier certifies that the firm or individual named in the certificate is the owner or consignee of the cargo.

 

Carrier: The party responsible for transport of goods (shipping line, airline, road haulage company etc.)

 

Carrier:A transportation line that hauls cargo.

 

Cartel - Organization formed to regulate or control the production, pricing, or marketing practices of its members in order to limit competition and maximize market power.

 

Case of need: In a collection, party in the buyer's country who is designated by the seller to advise and/or give instructions in the event of problems or disputes. The collection order will specify whether the case of need is authorised to instruct the bank.

 

CASH AGAINST DOCUMENTS (C.A.D.): A payment method by which title to the goods is given to the buyer when the buyer pays cash to an intermediary acting for the seller, usually a commission house.

 

Cash Against Documents (CAD): Payment for goods in which a commission house or other intermediary transfers title documents to the buyer upon payment in cash.

 

Cash cover: In a letter of credit transaction, money deposited by the applicant with the Issuing bank.

 

CASH IN ADVANCE (C.I.A.): A payment method for goods in which the buyer pays cash to the seller before shipment of the goods. Usually required by the seller when the goods are customized, such as specialized machinery.

 

CASH WITH ORDER (C.W.O.): A payment method for goods by which cash is paid at the time of order and the transaction then becomes binding for both the buyer and seller.

 

CASS:Cargo Accounts Settlement System

 

Category groups - Payment for goods in which the buyer pays when ordering and in which the transaction is binding on both parties.

 

CBD - Cash before delivery.

 

CBI:Confederation of British Industry

 

CBM - Cubic meter.

 

Cbm:Cubic Metre

 

CC - Closed-cup.

 

CC/O:Certificate of Consignment/Origin

 

CC:Continuation Clause, Civil Commotion

 

CCC Mark: An acronym for China Compulsory Certification mark. A symbol printed on a product or product label by its manufacturer or importer declaring compliance with the requirements of various Chinese government laws for manufactured products related to human life and health, animals, plants, environmental protection and national security.

 

CCC:Customs Co-operation Council

 

CCCN:Customs Co-operation Council Nomenclature

 

CCE:Collector of Customs and Excise

 

CCFTA: Canada-Chile Free Trade Agreement. Implemented July 5, 1997.

 

CCI - Canada Customs Invoice.

 

CCL - See Commerce Control List.

 

CCLN:Consignment Note Control Label Numbers

 

CCT:Common Customs Tariff

 

CD:Customs Declaration

 

CDV:Current Domestic Value

 

CE Mark: A mandatory European product marking and certification system. When affixed to a product and product packaging, CE marking indicates that a particular product complies with all applicable European product safety, health and environmental requirements within the CE marking system. CE marking covers approximately half of all US products exported to Europe. Over 50% of all US products sold to Europe require CE marking.

 

CENSA: Council of European and Japanese National Shipowners' Association

 

Central bank:The only institution that has the right to issue banknotes and that constitutes the monetary and credit policy authority of a country or currency zone. The central bank also supplies the economy with money and credit, regulates domestic and foreign payment transactions, and maintains internal and external monetary stability.

 

Cert.:Certificate

 

Certiciate of manufacture: A statement which is usually notarized in which the producer of goods certifies that the goods have been produced and are now available to the buyer.

 

The above details describes about terms called in international trade business such as caricom, carifta,carnet,cash against documents,cash with order,category groups,ccc mark,central bank,certiciate of manufacture 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.Terms used in international trade business such as Cabotage,Cairns Group,Canada-EU Action Plan,Call option,Cargo aircraft only,Capital Lease

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