Terms used in export business such as Developed country,Direct investment,Direct export, Dispatch, Distributor etc.
This post explains about terms used in export business such as Demand, Demurrage, Devaluation,Developed country,Direct investment,Direct export, Dispatch, Distributor, Dock receipt 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
Demand:The quantity of an economic good that will be bought at a given price at a particular time in a specific market. Demand in a market economy is strongly influenced by consumer preference or the individual choices of many independent buyers, based upon their perceptions of value for price.
Demurrage: Excess time taken for loading or unloading a vessel. Demurrage refers only to situations in which the charterer or shipper, rather than the vessel's operator is at fault.
Denied Persons List (DPL) - A list, referenced in Supplement No. 2 to part 764 of the EAR, of specific persons that have been denied export privileges, in whole or in part. The full text of each order denying export privileges is published in the Federal Register.
Department for Business, Enterprise and Regulatory Reform (BERR) :Government department that works to create the conditions for business success and help the UK respond to the challenge of globalisation.
Department for Environment, Food and Rural Affairs (Defra) :The UK government department tasked with issues such as the environment, rural development, the countryside, wildlife, animal welfare and sustainable development.
Depositor in warehouse :The person bound by the declaration placing the goods under the customs warehousing procedure or to whom the rights and obligations of such a person have been transferred.
DEQ: delivered ex quay (named port of destination). This is an Incoterm - see the Incoterms 2000 website for more information. The seller clears the goods for export and pays for delivery. The goods are delivered when they're placed on the quay at the named port of destination. The buyer is responsible for clearing the goods for import and the associated costs, unless agreed otherwise.
DES: delivered ex ship (named port of destination). This is an Incoterm - see the Incoterms 2000 website for more information. The seller clears the goods for export and pays for delivery. Delivery occurs when the goods are placed at the disposal of the buyer on board the ship at the named port of destination. From this point the buyer bears the costs and risks of clearing the goods for import and unloading.
Designated export place (DEP) :This is a customs-approved inland location where certain export procedures (full and simplified declaration procedures, low-value and statistical declarations) may be used and where all customs declaration must be made electronically to the Customs Handling of Import and Export Freight (CHIEF) system.
Desk-based risk assessments - A preliminary assessment by a sourcing company of its suppliers. The desk-based risk assessment normally takes the form of a questionnaire sent to suppliers with the intention of highlighting the areas of greatest risk in terms of labour practices.
Despatches :In the context of trade within the European Union (EU), the removal of goods from the UK and their acquisition in another EU member state by a person registered for VAT in that state.
Destination Control Statement: One of a number of statements required by the U.S. Government to be displayed on export shipments specifying the authorized destinations for the shipments.
Devaluation - It is a term used when the value of the currency of a country is officially lowered in terms of one or more foreign currencies. Suppose the US dollar is devalued in relation to the Euro, then one dollar will buy fewer Euros than before.
Developed country - is an economically advanced country whose economy is characterized by a large industrial and service sector and high levels of income per head.
Direct export :Refers to goods exported directly from the UK to a non-European Union (EU) country.
Direct investment - Foreign capital inflow in the form of investment by foreign-based companies into domestic based companies.
Direct representative :A third party who makes a customs declaration in a trader's name, on the trader's behalf.
Direct tax - A tax that you pay directly, as opposed to indirect taxes, such as tariffs and business taxes. The income tax is a direct tax, as are property taxes.
Direct trader input (DTI-CHIEF) :An arrangement under which traders can input data from their own computer terminals to the Customs Handling of Import and Export Freight (CHIEF) system via a trade system operator.
Direct trader input community (DTI community) :An arrangement where traders using direct trader input (DTI) transmit data to the customs entry processing system via one of the community linked networks.
Direct trader input system (DTI system) :A trade computer system that supports a network of trade users and provides human computer interface (HCI) and electronic data interchange (EDI) access to the Customs Handling of Import and Export Freight (CHIEF) system. Inventory systems are usually associated with a direct trader input system (DTI system).
DISC - Domestic international sales corporation. Discrepancy - Letter of credit - When documents presented do not conform to the letter of credit it is referred to as a discrepancy.
DISC:See "Domestic International Sales Corporation."
Disclosures to Bona-Fide Full Time Employees: ITAR recognizes exemption permitting the disclosure of unclassified technical data in the United States by U.S. universities to foreign nationals where: 1) the foreign national is the university’s bona fide full-time regular employee; 2) the employee’s permanent abode throughout the period of employment is in the United States; 3) the employee is not a national of an embargoed country; and 4) the university informs the employee in writing that information disclosed may not be disclosed to other foreign nationals without governmental approval.
Discount (Financial):A deduction from the face value of commercial paper such as bills of exchange, in consideration of receipt of cash by the seller before maturity date.
Discrepancy-Letter of Credit: When documents presented do not conform to the terms of the letter of credit, it is referred to as a "discrepancy."
Dispatch - An amount paid by a vessel's operator to a charterer if loading or unloading is completed in less time than stipulated in the charter party.
Distance selling :When a taxable person registered in one European Union (EU) member state supplies and delivers goods to a non-taxable person in another EU member state (most common in mail order).
Distiller's warehouse :An excise warehouse approved by HM Revenue & Customs (HMRC) under Section 15 of the Alcoholic Liquor Duties Act 1979, for the storage of the spirits produced at a distillery. A limited range of operations, such as racking, can be carried out in a distiller's warehouse.
Distribution License: Listed under Export Documents
Distributor - A foreign agent who sells for a supplier directly and maintains an inventory of the supplier's products.
Distributor: The foreign distributor is a merchant who purchases goods from a US exporter (takes title of the goods and often at a substantial discount) and resells it for a profit. The foreign distributor generally provides support and service for the product, thus relieving the exporter of these responsibilities. The distributor usually carries an inventory of products and a sufficient supply of spare parts and also maintains adequate facilities and personnel for normal servicing operations. Distributors typically handle a range of non-conflicting but complementary products. End users do not usually buy from a distributor; they buy from retailers or dealers.
Dock receipt - A receipt issued by an ocean carrier to acknowledge receipt of a shipment at the carrier's dock or warehouse facilities. Also see Warehouse receipt.
Dock Receipt D/R or Mate's Receipt :A receipt to confirm the receipt of cargo on quay/warehouse pending shipment. The dock receipt is used as documentation to prepare a bill of lading. It has no legal role regarding processing financial settlement.
The above details describes about terms called in export business such as Demand, Demurrage, Devaluation,Developed country,Direct investment,Direct export, Dispatch, Distributor, Dock receipt 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 Declaration ,Deemed Export,Deflation,Delivery Point
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