Terms used in shipping such as Counter-offer,Counterfeit Code,Cost of Production , Cost and Freight , Corps of Engineers

 

Terms used in shipping such as Counter-offer,Counterfeit Code,Cost of Production , Cost and Freight , Corps of Engineers etc.

 

This post explains about terms used in shipping such as Countervailing Duties , Countertrade,Counter-offer,Counterfeit Code,Cost of Production ,Cost and Freight , Corps of Engineers,Cost plus model 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

 

Corner Posts:Vertical frame components fitted at the corners of the container, integral to the corner fittings and connecting the roof and floor structures. Containers are lifted and secured in a stack using the castings at the ends.

 

Corporacion Andina de Fomento - See: Andean Group.

 

Corps of Engineers: This department of the U. S. Army is responsible for flood protection and providing safe navigation channels. The Corps builds and maintains the levees, flood walls and spillways that keep major rivers out of low lying communities. The Corps is vital to keeping navigation channels open by dredging sand, silt and gravel that accumulate on river and harbor bottoms.

 

Correspondent Bank:A bank that, in its own country, handles the business of a foreign bank.

 

Terms used in shipping such as Counter-offer,Counterfeit Code,Cost of Production , Cost and Freight , Corps of Engineers etcCo's Council for Mutual Economic Assistance (CMEA or COMECON). CSCE administers residual tariffs and quotas and relations with other organizations.

 

Cost and Freight - Cost and Freight (CFR) to a named overseas port of import. Under this term, the seller quotes a price for the goods that includes the cost of transportation to the named point of debarkation. The cost of insurance is left to the buyer's account. (Typically used for ocean shipments only. CPT, or carriage paid to, is a term used for shipment by modes other than water.) Also, a method of import valuation that includes insurance and freight charges with the merchandise values.

 

Cost of Production - A term used to refer to the sum of the cost of materials, fabrication and/or other processing employed in producing the merchandise sold in a home market or to a third country together with appropriate allocations of general administrative and selling expenses. COP is based on the producer's actual experience and does not include any mandatory minimum general expense or profit as in "constructed value." See: Tariff Act of 1930.

 

Cost plus model:when a freight management company agrees to haul merchandise for a predetermined percentage that is in addition to the freight costs.

 

Cost, Insurance and Freight - Cost, insurance, and freight (CIF) to a named overseas port of import. Under this term, the seller quotes a price for the goods (including insurance), all transportation, and miscellaneous charges to the point of debarkation for the vessel. (Typically used for ocean shipments only. CIP, or carriage and insurance paid to, is a term used for shipment by modes other than water.)

 

Cost, Insurance and Freight (CIF):Cost of goods, marine insurance and all transportation (freight) charges are paid to the foreign point of delivery by the seller.

 

Costs of Manufacture - In the context of dumping investigations, the costs of manufacture, COM, is equal to the sum of the materials, labor and both direct and indirect factory overhead expenses required to produce the merchandise under investigation.

 

Cottonseed Oil Assistance Program - COAP, one of four export subsidy programs operated by the Department of Agriculture, helps U.S. exporters meet prevailing world prices for cottonseed oil in targeted markets. USDA pays cash to U.S. exporters as bonuses, making up the difference between the higher U.S. cost of acquiring cottonwseed oil and the lower world price at which it is sold.

 

Council for Mutual Economic Assistance - The Council for Mutual Economic Assistance, CMEA or COMECON, was established in 1949 ostensibly to create a common market. CMEA was a Soviet initiative with Bulgaria, Czechoslovakia, Hungary, Poland, and Romania as founder members. The Council was later joined by the German Democratic Republic, Mongolia, Cuba, and Vietnam; Yugoslavia held associate status. Members normally received some products, particularly oil and gas, from the former Soviet Union at below-market prices. CMEA was succeeded in 1991 by the Organization for Economic Cooperation (OIEC).

 

Council of American States in Europe - This Council is composed of state representatives resident in Europe supportive of official U.S. promotions.

 

Council of Economic Arab Unity - CEAU fosters economic integration among Arab nations. The Council's activities compiling statistics, conducting research, and promoting a customs union. The Council was established in 1964; headquarters are in Amman, Jordan. The Council oversees the Arab Common Market, which comprises Egypt, Iraq, Jordan, Libya, Mauritania, Syria, and Yemen.

 

Council of Europe - The COE (also: CE; French: Conseil de l'Europe)) was established in May 1949 to encourage unity and social and economic growth among members, which currently include: Austria, Belgium, Cyprus, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Malta, the Netherlands, Norway, Portugal, San Marino, Spain, Sweden, Switzerland, Turkey, and the United Kingdom. COE headquarters are in Strasbourg, France.

 

Council on Security and Cooperation in Europe - Members include: Albania, Armenia, Austria, Azerbaijan, Belgium, Bulgaria, Byelarus, Canada, Cyprus, Czechoslovakia, Denmark, Estonia, Finland, France, Germany, Greece, the Holy See, Hungary, Iceland, Ireland, Italy, Kazakhstan, Kyrgyzstan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Russia, San Marino, Spain, Sweden, Switzerland, Tajikistan, Turkey, Turkmenistan, Ukraine, the United Kingdom, the United States, Uzbekistan, and Yugoslavia.

 

Count (as laytime) (to) - To be included in the calculation of laytime in a voyage charter. Whether a period, such as during a week-end or a strike, counts as laytime is subject to the agreement of shipowner and charterer save that, once all the time allowed has been used, the remaining period until completion of loading or discharging, as the case may be, counts without exception. A typical voyage Charter-Party clause might stipulate that 'time between 1700 hours Friday and 0800 hours Monday not to count, even if used.

 

Counter Trade - A general trade term whereby a seller is required to accept goods or services from the buyer as either full or partial payment. This is a well known phenomenon in East-West trade, but is increasingly being practiced worldwide.

 

Counterfeit Code - A draft agreement addressing commercial counterfeit (e.g. trademarks) problems in international trade. Initiated during the Tokyo Round, this code was never concluded. The issue of counterfeiting, as well as other intellectual property issues, is now under discussion in the Uruguay Round negotiating group on Intellectual Property Rights.

 

Counter-offer or Counter - Response to an offer which in some way varies the terms or conditions of that offer, by virtue of a party making a counter-offer, the offer itself is no longer binding. Offer and counteroffer form the basis of the negotiations involved in chartering.

 

Counterpurchase - See: Countertrade.

 

Countertrade - Countertrade is an umbrella term for several sorts of trade in which the seller is required to accept goods, serivces, or other instruments or trade, in partial or whole payment for its products. Forms include barter, buy-back or compensation, offset requirements, swap, switch, or triangular trade, evidence or bilateral clearing accounts. Some include offsets as a form of countertrade; others make a distinction based on the view that countertrade is a reciprocal exchange of goods and services used to alleviate foreign exchange shortages of importers and that offsets are used as a means for advancing industrial development objectives and may include equity investments. In counterpurchase (one of the most common forms of countertrade), exporters agree to purchase a quantity of goods from a country in exchange for that country's purchase of the exporter's product. The goods being sold by each party are typically unrelated but may be equivalent in value. In a compensation or buy-back deal, exporters of heavy equipment, technology, or even entire facilities agree to purchase a certain percentage of the output of the facility. Barter is a simple swap of one good for another. Switch trading is a complicated form of barter, involving a chain of buyers and sellers in different markets. See: Offsets.

 

COUNTERTRADE:A reciprocal trading arrangement in which the seller is required to accept goods or other instruments or trade in partial or whole payment for its products. Common transactions include barter, buyback, counterpurchase, offset requirements, swap, switch; or triangular trade, evidence, or clearing accounts.

 

Countervailing Duties (CVD) - These are duties levied on an imported good to offset subsidies to producers or exporters of that good in the exporting country. GATT Article VI permits the use of such duties if material injury to the importing country's producers occurs.

 

The above details describes about terms called in shipping such Countervailing Duties , Countertrade,Counter-offer,Counterfeit Code,Cost of Production ,Cost and Freight , Corps of Engineers,Cost plus model 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 business below this post.Terms used in shipping such as Containership,Contracting Parties,Controlled Atmosphere,Conventional ship, Custom of the Port

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