Terms used in export business such as Commercial agent,Commercial Invoice,Commodity code,Commodity,Community transit etc.
This post explains about terms used in export business such as Collective bargaining , Combined Nomenclature ,Commercial agent,Commercial Invoice,Commodity code,Commodity,Community transit,Conditional Free,Conditionality 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 export business
Collection:The procedure involved in a bank's collecting money for a seller against a draft drawn on a buyer abroad, usually through a correspondent bank.
Collective bargaining - The right to collective bargaining refers to the right for workers' organisations to negotiate with employers or employers' organisations on behalf of their members to determine working conditions and terms of employment.
Combined Consignment Note and Customs Declaration (CNCD) :A single document which serves as both a Customs declaration and a consignment note. The CNCD is used for traffic to and from the Channel Islands.
Combined Nomenclature (CN) :The European Union (EU) system for classifying and defining goods. It is based on the Harmonised System (HS) and is laid out in the Tariff.
Commerce Control List (CCL) - A list of items under the export control jurisdiction of the Bureau of Industry and Security, U.S. Department of Commerce. The CCL is found in Supplement 1 to part 774 of the EAR.
Commerce Control List (CCL) Category - The CCL is divided into ten categories: (0) Nuclear Materials, Facilities and Equipment, and Miscellaneous; (1) Materials, Chemicals, "Microorganisms," and Toxins; (2) Materials Processing; (3) Electronics Design, Development and Production; (4) Computers; (5) Telecommunications; (6) Sensors; (7) Navigation and Avionics; (8) Marine; (9) Propulsion Systems, Space Vehicles, and Related Equipment.
Commerce Control List (CCL) Group - The CCL is divided into 10 categories. Each category is subdivided into five groups, designated by the letters A through E: (A) Equipment, assemblies, and components; (B) Test, inspection and production equipment; (C) Materials; (D) Software; and (E) Technology.
Commercial agent - [check Purchasing Agent]
Commercial agent :Person or organisation appointed by exporter to sell goods on their behalf in return for commission.
Commercial agent or sales agent: person or organisation appointed by exporter to sell and distribute goods in a foreign country. (See Distributor).
Commercial attache - The commerce expert on the diplomatic staff of his or her country's embassy or large consulate.
Commercial Attaché:The commercial expert on the diplomatic staff of his country's embassy or large consulate in a foreign country.
Commercial invoice - An itemized list of goods shipped, usually included among an exporter's collection papers.
Commercial invoice - It is a complete transaction record between the exporter and importer with regard to the goods sold. It contains the name and address of the seller and the buyer, date of sale, description of the goods sold, the quantity, the unit price, the terms of sale and the total money amount due.
Commercial invoice :Bill listing the goods and prices shipped by an exporter.
Commercial Invoice: Listed under Export Documents.
commercial invoice: Itemized list of goods shipped, usually included among an exporter’s collection papers.
Commercial Invoice: It is a formal demand note for payment issued by the exporter to the importer for goods sold under a sales contract. It should give details of the goods sold, payment terms and trade terms. It is also used for the customs clearance of goods and sometimes for foreign exchange purpose by the importer.
Commercial Invoice:A trade invoice.
Commercial Policy - Encompassing instruments of trade protection employed by countries to foster industrial promotion, export diversification, employment creation, and other desired development-oriented strategies. They include tariffs, quotas, and subsidies.
Commission agent - See Purchasing agent.
Commission Agent:See "Foreign Sales Representative."
Commission Representative:See "Foreign Sales Representative."
Commodity code :The code that identifies the description of individual goods or items in the Tariff. The full code is either 10 or 14 digits long, but for many purposes only the first four or eight digits are used. Also referred to as Combined Nomenclature (CN) code.
Commodity:Any article exchanged in trade but most commonly used to refer to raw materials, including such minerals as tin, copper, and manganese, and bulk-produced agricultural products such as coffee, tea, and rubber.
Common Agricultural Policy (CAP) :The set of legislation and practices jointly adopted by the nations of the European Union (EU) in order to provide a common, unified policy framework for agriculture.
Common carrier - An individual, partnership, or corporation that transports persons or goods for compensation.
Common stock :The storage or mixture of goods which have been imported under a relief eg end-use relief or inward processing relief (IPR) with other goods that share the same commodity code to eight digits and the same technical and physical characteristics.
Common transit (CT) :Used to describe community transit (CT).
Community Customs Code (CCC) :The basic Customs rules applying throughout the European Union (EU). The Code was established by Council Regulation (EEC) No. 2913/92. This regulation has been amended several times since it was passed, but it remains the basis of the EU Customs system. Another regulation, Commission Regulation (EEC) No. 2454/93, sets out provisions for the implementation of the Code.
Community systems provider (CSP) :A company or organisation providing a system that supports a network of trade users and provides human computer interface (HCI) usually within a seaport or airport.
Community transit (CT) :A documentary system of controlling the movement of certain goods across the territory of the European Union (EU).
Comparative Advantage - A component of free market theory that states that if each nation made just those things which it could produce cheaper relative to a foreign country and then trade with other nations to get that which they could produce relatively cheaper, wealth would expand and everyone would benefit.
Compensating products :All products obtained from inward processing relief (IPR) processing operations.
Compensatory interest :Interest charged by HM Revenue & Customs (HMRC) when inward processing relief (IPR) suspension goods are diverted to free circulation.
Compound interest - Interest paid on the original principal and on interest accrued from time it became due.
Conditional Free: Goods free of duty under certain conditions, if the conditions can be satisfied.
Conditionality - Countries must adopt specified economic policies as a condition for receiving a loan from multilateral financial institutions such as the International Monetary Fund or the World Bank.
Conference Line:A member of a steamship conference. See "Steamship Conference."
Confirmed letter of credit - A letter of credit, issued by a foreign bank, the validity of which has been confirmed by a domestic bank. An exporter whose payment terms are a confirmed letter of credit is assured of payment by the domestic bank even if the foreign buyer or the foreign bank defaults. See Letter of credit.
The above details describes about terms called in export business such as Collective bargaining , Combined Nomenclature ,Commercial agent,Commercial Invoice,Commodity code,Commodity,Community transit,Conditional Free,Conditionality 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 export trade below this post.continue reading: Terms used in export business such as Certificate of insurance,Certificate of manufacture,Certificate of Origin,Charter party
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