Terms used in international trade business such as PORT OF ENTRY,Pre-license check,Prepaid B/L,Presentation period

 

Terms used in international trade business such as PORT OF ENTRY,Pre-license check,Prepaid B/L,Presentation period etc

 

This post explains about terms used in international trade business such Political risk, polycentric staffing,PORT OF ENTRY,Pre-license check,Prepaid B/L,Presentation period,price discrimination,Primary hazard 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

 

PM:Premium

 

PMS:Permanent Manual System

 

PO:Post Office / Purchase Order

Terms used in international trade  business such as PORT OF ENTRY,Pre-license check,Prepaid BL,Presentation period etc

POA : Place Of Acceptance

 

POD - Pay on delivery.

 

POD - See Port of discharge . Also an acronym for Proof of delivery.

 

POD: Paid On Delivery /Proof of Delivery

 

POL - Port of loading .

POL/POD : Contractual Port of Loading

 

Political risk - In export financing, the risk of loss due to such causes as currency inconvertibility, government action preventing entry of goods, expropriation or confiscation, and war.

 

polycentric staffing:A staffing policy in an MNE in which host-country nationals are recruited to manage subsidiaries in their own country, while parent-country nationals occupy key positions at corporate

headquarters.

 

POR - Port of origin .

 

Port of arrival - Location where imported merchandise is off-loaded from the importing aircraft or vessel.

 

Port of departure - In export, the final ocean port of aircraft where the shipment in the vessel or aircraft departs from the United States .

 

Port of discharge - Port where goods are unloaded from vessel.

 

PORT OF ENTRY:A port where foreign goods are admitted into the receiving country.

 

positive sum game:A situation in which all countries can benefit even if some benefit more that others.

 

Power of attorney - Legal authorization from a principal party given to a forwarding agent to act on their behalf to facilitate the export of mechandise out of the U.S., specifying the responsibilities to be carried out in accordance with U.S. laws and regulations.

 

Ppd. (or P.P.) - Prepaid.

 

Pre-carriage - Inland freight movement and cost on the seller’s side.

 

predatory pricing:Reducing prices below fair market value as a competitive weapon to drive weaker competitors out of the market .

 

Preference criteria - For each item, enter the applicable NAFTA origin (preference) criterion. The NAFTA Rules of Origin may be found in the Agreement in Chapter 4, Annex 401, Annex 703.2 (agricultural), Annex 300-B Appendix 6A (textiles), and Annex 308.1 (data processing). At least one of the following criteria must be met for an item to receive preferential tariff treatment: A: The good is “wholly obtained or produced entirely” in the territory of one or more of the NAFTA countries, as referred to in Article 415. NOTE: The purchase of a good in the territory does not necessarily render it “wholly obtained or produced.” If the good is anagricultural good, see also criterion F and Annex 703.2.B: The good is produced entirely in the territory of one or more of the NAFTA countries,and satisfies the specific rule or origin set out in Annex 401, which applies to its tariffclassification. The rule may include a tariff classification change, regional value-contentrequirement or a combination thereof. The good must also satisfy all other applicablerequirements of Chapter Four. If the good is an agricultural good, see also criterion Fand Annex 703.2.C: The good is produced entirely in the territory of one or more of the NAFTA countriesexclusively from originating materials. Under this criterion, one or more of the materialsmay not fall within the definition of “wholly produced or obtained,” as set out in Article415. All materials used in the production of the good must qualify as “originating” bymeeting the rules of Article 401 (a) through (d). If the good is an agricultural good, see also criterion F and Annex 703.2.D: Goods are produced in the territory of one or more of the NAFTA countries but do not meet the applicable rule or origin, set out in Annex 401, because certain non-originating materials do not undergo the required change in tariff classification. The goods do, nonetheless, meet the regional value-content requirement specified in Article 401 (d). This criterion is limited to the following two circumstances:D1. The good was imported into the territory of a NAFTA country in an unassembled or disassembled form but was classified as an assembled good, pursuant to H.S. General Rule of Interpretation 2(a); orD2. The good incorporated one or more non-originating materials, provided for as parts under the H.S., which could not undergo a change in tariff classification because the heading provided for both the good and its parts and was not further subdivided into subheadings, or the subheading provided for both the good and its parts and was not further subdivided.E. Certain automatic data processing goods and their parts, specified in Annex 308.1,that do not originate in the territory are considered originating upon importation into theterritory of a NAFTA country from the territory of another NAFTA country when the most-favored-nation tariff rate of the good conforms to the rate established in Annex 308.1and is common to all NAFTA countries.F. The good is an originating agricultural good under preference criterion A, B or C above and is not subject to a quantitative restriction in the importing NAFTA country because it is a “qualifying good” as defined in Annex 703.2, Section A or B (please specify). A good listed in Appendix 703.2.B.7 is also exempt from quantitative restrictions and is eligible for NAFTA preferential tariff treatment if it meets the definition of “qualifying good” in Section A of Annex 703.2.

 

Pre-license check - Conducted to determine that dual-use items on an export license application are destined for a legitimate end-use by a reliable end-user. Firms or individuals representing the licensee (the applicant), the consignee, the purchaser, the intermediate consignee, or the end user may be subject to inquiries pertaining to the pre-license check. As part of the process, BIS forwards a cable to the U.S. embassy or consulate in the respective geographical location to conduct an inspection or meet with company representatives to conduct inquiries on behalf of BIS.

 

Premium:Forward points corresponding to interest rate differentials that are added to the spot rate; also the price of an option that the option buyer pays to the option writer.

 

Prepaid B/L - Freight paid prior to movement; money to be paid prior to issuance of bill of lading.

 

Present Value: The current equivalent of payments or a stream of payments to be received at various times in the future. The present value will vary with the discount interest factor applied to future payments.

 

Presentation period: On a letter of credit, number of days allowed between shipment of goods and presentation of documents to a bank.

 

Presentation: In a collection, presentation of documents by a bank to a buyer for payment or acceptance. In a letter of credit, presentation of documents by a seller to a bank for payment, acceptance or

negotiation.

 

Presenting bank: In a collection, bank that presents documents to a buyer for payment or acceptance.

 

Pre-shipment inspection (PSI) - Inspection of contract goods prior to shipment to ascertain their quality, quantity, or price.

 

price discrimination:The practice of charging different prices for the same product in different markets.

 

price elasticity of demand:A measure of how responsive demand for a product is to changes in price.

 

Primary hazard - Hazard class of a material as assigned in the §172.101 table of 49 CFR.

 

The above details describes about terms called in international trade business such as Political risk, polycentric staffing,PORT OF ENTRY,Pre-license check,Prepaid B/L,Presentation period,price discrimination,Primary hazard 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 Packing List,Passenger-carrying aircraft,Paying bank,Per diem,Pick up and delivery

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