Terms used in international trade business such as Sanitary Certificate,Sale-leaseback,Service contract,Shipper’s Export Declaration

 

Terms used in international trade business such as Sanitary Certificate,Sale-leaseback,Service contract,Shipper’s Export Declaration etc.

 

This post explains about terms used in international trade business such as Safeguards, Sanitary Certificate,Sale-leaseback,Seals on containers,Second issuing bank,Service contract,Shipper’s Export Declaration,Shipping paper,Shipping Weight,Short delivery 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

 

S.R. & C.C. - Strikes, Riot, and Civil Commotion. A type of coverage that may be added as an amendment to marine cargo insurance policies.

 

S/A:Safe Arrival

 

S/D - See Sight draft.

 

S/N - Shipping note.

 

S/o:Shipowner

 

Terms used in international trade  business such as Sanitary Certificate,Sale-leaseback,Service contraSAD - Single Administrative Document; European administrative document for intra-European trade.

 

Safeguards:Temporary measures to protect an industry when it experiences increased competition by foreign suppliers. Safeguards can take the form of tariffs or quantitative restrictions.

 

Sale-leaseback: An arrangement whereby equipment is purchased by a lessor from the company owning and using it. The lessor then becomes the owner and leases it back to the original owner, who continues to use the equipment.

 

Sales Agent:See "Foreign Sales Representative."

 

Sales Representative:See "Foreign Sales Representative."

 

Sales-type Lease: A lease by a lessor who is the manufacturer or dealer, in which the lease meets the definitional criteria of a capital lease or direct financing lease.

 

sanction noun:an official order to stop communication, trade, etc with a country that has broken international law.

 

Sanitary Certificate:A certificate which attests to the purity or absence of disease or pests in the shipment of food products, plants, seeds, and live animals.

 

SANR:Subject To Approval No Risk

 

SB:Short Bill, payable on demand or sight

 

SCAC code - Standard Carrier Alpha Code. Used to identify transportation companies.

 

Schedule B: In the United States, numbers used to classify exported products are called “Schedule B” numbers. The US Bureau of Census is responsible for publishing the Schedule B codes. Schedule B commodity codes are 10-digit numeric codes used to identify products that are exported to other countries from the US and it is based on the international Harmonized System. Transactions are classified under approximately 8,000 different products leaving the United States. Every item that is exported is assigned a unique 10-digit identification code.

 

SCP:Simplified Clearance Procedure

 

SCR:Specific Commodity Rate

 

SD - Short delivery.

 

SD:Sailed

 

SD:Sight Draft

 

SDBL:Sight Draft, Bill Of Lading attached

 

SDN - See Specially Designated Nationals.

 

SDR:Special Drawing Rights

 

Sea waybill - Transport document for maritime shipment, which serves as evidence of the contract of carriage and as a receipt for the goods, but is not a document of title.

 

SEA:Single European Act

 

Seals on containers - Attached to locking device on container to prevent pilferage and to certify no tampering; made of steel by customs or carrier.

 

Second beneficiary: Where a transferable letter of credit is used, party to whom part of the value of this credit is transferred.

 

Second issuing bank: Bank issuing the second letter of credit in a back-to-back letter of credit transaction. Usually the Advising bank to the prime letter of credit.

 

SED:Shipper's Export Declaration

 

See-Bee:Sea Barge Carrier

 

SEM:Single European Market

 

SEPA:Single European Payment Area. SEPA is a banking industry initiative to standardise the way of making payments across the EU

 

Service contract - As provided in the Shipping Act of 1984, a contract between a shipper (or a shipper's association) and an ocean carrier (or conference) in which the shipper makes a commitment to provide a certain minimum quantity of cargo or freight revenue over a fixed time period, and the ocean common carrier or conference commits to a certain rate or rate schedule as well as a defined service level (such as assured space, transit time, port rotation, or similar service failures). The contract may also specify provisions in the event of nonperformance on the part of either party.

 

Ship’s manifest - Instrument in writing, signed by the captain of a ship, which lists the individual shipments constituting the ship’s cargo.

 

Shipper - Export trade: The party (as between exporter and importer) who enters into a contract of carriage for the international transport of goods. The party receiving the goods (the importer or buyer) may be called the receiver or the consignee. Depending on the Incoterm chosen, either the exporter or importer (or middleman) can be the shipper.

 

Shipper: The party sending the goods, i.e. seller.

 

Shipper’s Export Declaration - Form formerly required for most shipments. It was prepared by the shipper and indicates the value, weight, destination, and other basic information about an export shipment.It is no longer accepted by the U.S. Government for the purpose of reporting export information. Use of the Automated Export System (AES) is mandatory.

 

Shipper’s load and count (SL & C) - Carrier’s notation disclaiming responsibility for the quantity of the cargo’s contents; the quantity declared is thus purely the shipper’s statement. If there is a dispute because less than contract is delivered, the carrier whishes to be free from liability and the receiver will have to claim directly against the shipper or insurer.

 

Shipping Documents:Commercial invoices, bills of lading, insurance certificates, consular invoices, and related documents.

 

Shipping paper - Shipping order, bill of lading, manifest or other shipping document serving a similar purpose and prepared in accordance with the transport regulations.

 

Shipping Weight - Shipping weight represents the gross weight in kilograms of shipments, including the weight of moisture content, wrappings, crates, boxes, and containers (other than cargo vans and similar substantial outer containers).

 

Ship's manifest - An instrument in writing, signed by the captain of a ship, that lists the individual shipments constituting the ship's cargo.

 

Shipt.:Shipment

 

Short delivery (SD) - Non-delivery of cargo at the intended port. When reported, will result in ship’s agent sending a cargo tracer to see if the cargo has been misdelivered in another port (also short-landed cargo).

The above details describes about terms called in international trade business such as Safeguards, Sanitary Certificate,Sale-leaseback,Seals on containers,Second issuing bank,Service contract,Shipper’s Export Declaration,Shipping paper,Shipping Weight,Short delivery 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 Release note,Remitting bank,Revenue ton,Revolving letter of credit ,Road consignment note

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Comments


Param Pandiya: we are a jaipur base company deals in gem n jewellery we need to get a sanitary certificate how do we get it please help us n suggest a way to get it.

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