Terms used in shipping such as endorse a bill of lading, endorsement, engine department,enrollment, export processing zones

 

Terms used in shipping such as endorse a bill of lading, endorsement, engine department,enrollment, export processing zones etc.

 

 

This post explains about terms used in shipping such as Endorse a Bill of Lading, Endorsement, ENGINE DEPARTMENT,Enrollment,Entrepot ,Entry Papers, ENTRY, EORI,Export Processing Zones 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

 

EN - European Norm

 

En route:Along the route of movement.

 

Enabling Clause - Part I of the General Agreement on Tariffs and Trade (GATT) framework which permits developed country members to give more favorable treatment to developing countries and special treatment to the least developed countries, notwithstanding the most-favored-nation provisions of the GATT.

 

Endorse a Bill of Lading - To sign over a Bill of Lading to another, thus transferring title to the goods described in the Bill of Lading to that party.

 

Terms used in shipping such as endorse a bill of lading, endorsement, engine department,enrollment, export processing zones etcENDORSEMENT IN BLANK:(1) Commonly used on a bank check, an endorsement in blank is an endorsement to the bearer. It contains only the name of the endorser and specifies no particular payee. (2) Also, a common means of endorsing bills of lading dawn to the order of the shipper. The bills are endorsed “For…” (See Bill of Lading, Order)

 

Endorsement:A legal signature usually placed on the reverse of a draft; signifies transfer of rights from the holder to another party.

 

End-Use:Term used for exemption from duty and/or VAT on aircraft or Ships spares, in transit

 

ENGINE DEPARTMENT (Q.M.E.D.):Trained in all crafts necessary to engine maintenance (welding, refrigeration, lathe operation, die casting,electricity, pumping, water purification, oiling, evaluating engine gauges, etc.) Usually watchstanders but on some ships day workers.

 

Enhanced Proliferation Control Initiative - In December 1990, the United States announced a series of measures -- collectively referred to as the Enhanced Proliferation Control Initiative (EPCI) -- to reduce certain proliferation risks. Under the initiative, the U.S. requires licenses for exports of: (a) precursor chemicals that can be used in making chemical weapons and whole chemical plants to make such precursors; (b) potential chemical and biological weapon-related industrial facilities, related designs, technologies, and equipment; and (c) any items to destinations that raise proliferation concerns when the exporter knows, or is informed by the Commerce Department, of such concerns. The initiative also calls for: (d) penalties on U.S. firms and individuals that promote the spread of chemical weapons and missile technology; (e) control lists of (i) dual-use equipment and technologies related to chemical and biological weapons and missiles, and (ii) countries to which exports of such items should be controlled; and (f) multilateral adoption of the initiative's measures.

 

Enhanced Structural Adjustment Facility - The ESAF is a system by which the International Monetary Fund loans concessional resources to assist poor countries. These countries have extended balance of payments deficits and pursue an orderly plans for correcting the deficits and promoting medium-term economic structural adjustment and macroeconomic programs. While similar to the Structural Adjustment Facility (SAF), ESAF has triple the resources available for supporting structural adjustment and monitors performance more closely. Both facilities use the Policy Framework Paper as a means for attracting additional support structural adjustment. SAF was established in March 1986, ESAF in December 1987; both facilities require repayments to be made in 5« to 10 years. More than 60 countries are eligible for assistance under these facilities. See: International Monetary Fund Policy Framework Paper.

 

Enrollment (U.S.) - The document issued by the U.S. Government to vessels under U.S. flag engaged solely in domestic or coastwise trade, as distinguished from the register, which is confined to vessels engaging in foreign trade.

 

Enterprise for the Americas Initiative - The EAI, launched in June 1990, supports development of a new economic relationship between the United States and Latin America. The EAI has trade investment, debt, and environment aspects. Trade aspects include efforts to advance free trade agreements with markets in Latin America and the Caribbean, particularly with groups of countries that have associated for purposes of trade liberalization. As part of this process, the U.S. seeks to enter into "framework" agreements on trade and investment with interested countries or groups of countries. These agreements set up intergovernmental councils to discuss and, where appropriate, to negotiate the removal of trade and investment barriers. Investment aspects include the establishment of an Investment Sector Loan program and the Multilateral Investment Fund to support investment reforms. See: Investment Sector Loan Program Multilateral Investment Program.

 

Enterprise Unipersonnelle e Responsabilite Limitee - EURL (French: "sole ownership limited liability company") combines features of both a corporation and a partnership. This form of organization can be established with only one shareholder.

 

Entrepot - An intermediary storage facility where goods are kept temporarily for distribution within a country or for reexport.

 

Entry (Customs) - A statement of the kinds, quantities and values of goods imported together with duties, if any, declared before a customs official.

 

Entry or Entry Summary:Documentation required by importers that allows U.S. Customs to determine if products are legal to import. The entry summary describes and properly codes the imported merchandise.

 

Entry Papers - Those documents which must be filed with the Customs officials describing goods imported, such as consumption entry, Ocean Bill of Lading or Carrier Release, and Commercial Invoice.

 

Entry Summary Selectivity System - The Entry Summary Selectivity System, a part of Customs' Automated Commercial System, provides an automated review of entry data to determine whether team or routine review is required. Selectivity criteria include an assessment of risk by importer, tariff number, country of origin, manufacturer, and value. Summaries with Census warnings, as well as quota, antidumping and countervailing duty entry summaries are selected for team review. A random sample of routine review summaries is also automatically selected for team review.

 

Entry Summary System - An entry is the minimum amount of documentation needed to secure the release of imported merchandise. The Entry Summary System, a part of Customs' Automated Commercial System, contains data on release, summary, rejection, collection, liquidation, and extension or suspension.

 

Entry Value - The U.S. Customs Service defines entry value (or entered value) as the value reflected on the enry documentation submitted by the importer. (see 19 CFR 141.61 for how shown on entry. )

 

ENTRY:A customs form used for the clearance of ships or merchandise.

 

Entry:Customs documents required to clear an import shipment for entry into the general commerce of a country.

 

EOP - European Patent Office

 

EORI Number (formerly TURN number or VAT Number) :An EORI number is a number, unique throughout the European Community,assigned by a customs authority in a Member State to economic operators(businesses) or persons. By registering for customs purposes in one Member State,an Economic Operator (EO) is able to obtain an EORI number which is valid throughout the Community. The EO will then use this number in all communications with any EC customs authorities where a customs identifier is required for example customs declarations.

 

EORI:An EORI (Economic Operator Registration and Identification) number allows customs to keep a record of what's being imported and exported. You'll need one in order to import goods into the UK. We can help you with this and once you have an EORI number you can use it on your future imports too.

 

EOTC - European Organization for Testing and Certification

 

EP - European Parliament

 

EPC - Economic Policy Council, European Patent Convention

 

EPCI - Enhanced Proliferation Control Initiative

 

EPROM - Erasable Programmable Read-Only Memory

 

EPS - Export Promotion Services

 

EPZs - Export Processing Zones

 

The above details describes about terms called in shipping such as endorse a bill of lading, endorsement, engine department,enrollment,entrepot ,entry papers, entry, eori,export processing zones 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 Economic Zones,Ecotourism,Export Enhancement Program,Extended Fund Facility

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Hrushi Varma : I am Hrushi kumar.B. V an Engineering Project Consultant with African projects. I want to register my company with EPCI, EXIM & ADB.

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