Terms used in shipping such as Commodity Credit Corporation,Common Carrier , Common Agricultural Policy , COMMON CARRIER

 

Terms used in shipping such as Commodity Credit Corporation,Common Carrier , Common Agricultural Policy , COMMON CARRIER etc.

 

This post explains about terms used in shipping such Commodity Rate, Commodity Credit Corporation,Common Carrier ,Common Agricultural Policy , COMMON CARRIER,Commonwealth,Common Market ,Common Law 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 shipping

 

Committee on Trade and Development - The CTD was established in 1965 to consider how the General Agreement on Tariffs and Trade (GATT) can aid the economic development of Less Developed Country (LDC) contracting parties (that is, LDC members).

 

Commodity Control List - See: Commerce Control List.

 

Commodity Credit Corporation - The CCC finances a variety of federal domestic and international farm programs, including Title I, Title II, and Title III of Public Law 480 (Food for Peace). The CCC is a government-owned and operated corporation within the U.S. Department of Agriculture (USDA), and is managed by a board of directors headed by the Secretrary of Agriculture. All members of the board and the corporation's officers and staff are officals of USDA. The CCC provides financing and stability to the marketing and exporting of agricultural commodities.

 

Terms used in shipping such as Commodity Credit Corporation,Common Carrier , Common Agricultural Policy , COMMON CARRIER etcCommodity Import Programs - CIPs finance the export of U.S. goods to U.S.-aid recipient countries. Under CIPs, the Agency for International Development (AID) makes dollars available to the assisted country on a loan or grant basis to pay for essential commodity imports. In nearly all cases, these imports come from the United States. CIPs are used to provide relatively fast disbursing balance of payments support or to generate local currency for budget support for project goals, particularly in efforts designed to encourage private sector development. CIP agreements usually provide for AID's financing of a wide variety of basic items including agricultural goods, construction and transportation equipment, fertilizer, chemicals, raw materials, semi-finished products, and foodstuffs. CIPs do not finance military or police equipment, luxury items, or items of questionable safety or efficacy. In some cases, the range of allowable commodities is narrowed in order to tailor them to development needs of particular sectors in the assisted country or to accomplish other, specific development goals.

 

Commodity Jurisdiction - Export jurisdiction of products is administered by the State Department's Office of Defense Trade Controls (DTC) if the commodities are defense articles, technical data, and services or by the Commerce Department's Bureau of Export Administration if the commodities are dual-use items. An exporter may request DTC to conduct a commodity jurisdiction (CJ) review if the exporter is uncertain as to whether an item is covered by the United States Munitions List (USML) or believes it has been inappropriately placed on the list. CJ procedures include deadlines for making a determination and the use of criteria assessing: (a) performance, (b) significant military or intelligence applicability, and (c) significant civilian applicability.

 

Commodity Rate:A rate published to apply to a specific article or articles.

 

COMMODITY SPECIALIST:An official authorized by the U.S. Treasury to determine the proper tariff and value of imported goods.

 

Commodity:Article shipped. For dangerous and hazardous cargo, the correct commodity identification is critical.

 

Common Agricultural Policy - The CAP is a set of regulations by which members states of the European Community (EC) seek to merge their individual agricultural programs into a unified effort to promote regional agricultural development, fair and rising standards of living for the farm population, stable agricultural markets, increased agricultural productivity, and methods of dealing with food supply security. Two of the principal elements of the CAP are the variable levy (an import duty amounting to the difference between EC target farm prices and the lowest available market prices of imported agricultural commodities) and export restitutions, or subsidies, to promote exports of farm goods that cannot be sold within the EC at the target prices.

 

Common Agricultural Policy (CAP) - A comprehensive system of production targets and marketing mechanisms designed to manage agricultural trade within the European Community and with the rest of the world.

 

Common Carrier - A carrier that can be hired by anyone to transport goods.

 

Common Carrier - Person or company advertising a service involving the carriage of goods to and from ports on a particular route. A common carrier is required by law to accept all cargo offered, except dangerous ones, and to make a reasonable charge for their carriage.

 

common carrier: Trucking, railroad or barge lines that are licensed to transport goods or people nationwide are called common carriers.

 

COMMON CARRIER:(1) A publicly or privately owned firm or corporation that transports the goods of others over land, sea, or through the air, for a stated freight rate. By government regulation, a common carrier is required to carry all goods offered if accommodations are available and the established rate is paid. (2) A transportation company engaged in the business of handling persons or goods for compensation and for all persons impartially

 

Common Carrier:A for-hire carrier providing transportation services to the general public. Obligations: to serve, to deliver, to charge reasonable rates, to avoid discrimination. Previously regulated in the United States; most are now deregulated.Examples: Parcel/express carriers (DHL, FedEx, UPS), LTL trucking (Yellow, Consolidated Freightways, Roadway), TL trucking (Hunt, Schneider), Rail carrier (Norfolk Southern), Air carriers (Delta, Flying Tigers), Ocean carrier (SeaLand, American President Lines (APL) ).

 

Common Carrier:A transportation company which provides service to the general public at published rates.

 

COMMON CARRIER:Holds himself out for hire to the public. Must post rates and cannot discriminate against customers whose cargo he is equipped to carry.

 

Common External Tariff - A uniform tariff adopted by a customs union to be assessed on imports entering the union territory from countries outside the union; abbreviated: CET or CXT.

 

COMMON EXTERNAL TARIFF (CET OR CXT):A uniform tariff adopted by a customs union or common market on imports from countries outside the union. It is often a required part of the entry process.

 

Common External Tariff (CET) - A uniform tariff adopted by a customs union (e.g.. European Community) to be assessed on imports entering a region from countries outside the union.

 

Common Law:Law that derives its force and authority from precedent, custom and usage rather than from statutes, particularly with reference to the laws of England and the United States.

 

Common Market - A common market (as opposed to a free trade area) has a common external tariff and may allow for labor mobility and common economic policies among the participating nations. The European Community is the most notable example of a common market.

 

Common Monetary Agreement - South Africa, Lesotho, and Swaziland are members of the CMA under which they apply uniform exchange control regulations to ensure monetary order in the region. Funds are freely transferable among the three countries, and Lesotho and Swaziland have free access to South African capital markets. Lesotho also uses the South African currency, the rand. The CMA was formed in 1986 as a result of the renegotiation of the Rand Monetary Agreement (RMA) which was originally formed in 1974 by the same member countries.

 

Common Short Form Bill of Ladinq - Type of Bill of Lading which may be used by any shipping line since neither the name of the line nor its conditions of carriage are printed on it: the name is typed on and a printed clause states the full terms and conditions are available on request.

 

Common Standard Level of Effective Protection - The common standard level of effective protection, CSP, refers to the minimum shared standards between the U.S. and CoCom members for implementing an effective export control system, including licensing and enforcement elements.

 

Commonwealth - A commonwealth is a free association of sovereign independent states that has no charter, treaty, or constitution. The association promotes cooperation, consultation, and mutual assistance among members. The British Commonwealth (with headquarters in London, England) is the most notable example; it included 50 states at the beginning of 1991.

 

Commonwealth Development Corporation - The CDC is a British public corporation which provides medium- and long-term loans and equity financing for development-related private and public sector projects in selected countries. CDC financing is available for projects in the folowing sectors: agriculture (livestock, horticulture, and acquaculture), forestry, fishing, mineral extraction, industry, public utilties, transport, telecommunications, low-cost housing, hotels, construction and civil engineering, financial management and consultancy services, and leasing of assests. The Corporation does not invest in schools, colleges, hospitals, public service works or broadcasting. Since 1969, CDC has been able to invest in non-Commonwealth countries with ministerial agreement. The CDC was established in 1948; headquarters are in London, England.

 

The above details describes about terms called in freight forwarding such as Commodity Rate, Commodity Credit Corporation,Common Carrier ,Common Agricultural Policy , COMMON CARRIER,Commonwealth,Common Market ,Common Law 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 shipping trade below this post.Terms used in shipping such as Commercial Invoice,Commercial Officers , Commercial Treaty,Commercial Risks

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