Terms used in international trade business such To Transhipment,transnational corporation,Transportation and Exportation Entry etc.
This post explains about terms used in international trade business such as Time draft ,Title document,To order,trade agreement,Trademark,Transhipment,transnational corporation,Transportation and Exportation Entry ,Trimming 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 international trade business
TIB - See Temporary Import Under Bond.
tied aid :money given to a country or area where people need it, but they have to agree to spend it only on goods and services provided by the country or organization that has given the money.
Time draft - A draft that matures either a certain number of days after acceptance or a certain number of days after the date of the draft. Compare Date draft and Sight draft .
TIR - See Trailer interchange receipts.
TIR carnets - Transport documents used to cover international transport shipment on road vehicles such as trucks/lorries. TIR Carnets, issued pursuant to the 1949 TIR Convention, allow the truck or other vehicle to pass through all TIR-member countries without having to go through customs inspection until reaching the country of destination.
TIR: transports internationaux routiers. International system that allows goods to be packed in a container under customs inspection at point of origin. The container can then pass across all national frontiers without being opened by customs officers.
Title document: A document granting title. It can also include a transport document in which the bearer has title to the goods, and so can claim them from the carrier at their destination.
TL - Truckload.
TLA:Tanker Loading Authority
TLO:Total Loss Only
TMO:Telegraphic Money Order
TMR:Trade Marks Registry
To be eligible, your goods must satisfy a number of rules. You can find out more on the Customs and Excise website.
To order: Usually means a direction transferring ownership rights - an endorsement. On a bill of exchange 'order' or 'to order' means that the drawer directs payment to be made to another party (usually a bank). On a bill of lading, 'order' or 'to order' assigns title to the goods to another party.
TOFC - See Trailer on flat car.
TP&ND:Theft, Pilferage and Non-delivery
Trac Lease: A tax-oriented lease of motor vehicles or trailers that contains a terminal rental adjustment clause and otherwise complies with the requirements of the tax laws.
Trade acceptance - Bill of exchange drawn by the seller/exporter on the purchaser/importer of goods sold, and accepted by such purchaser. See Bill of exchange.
trade agreement :an agreement between two or more countries on trade between them.
trade deficit :a situation in which a country is buying more things from other countries than it is selling to them trade gap nouna trade deficit
trade surplus :a situation in which a country is selling more to other countries than it is buying from them.
Trademark: A registration process under which a name, logo, or characteristic can be identified as exclusive.
Trailer Interchange Receipt (TIR) - Interchange receipt between trucker and carrier; document showing condition of container/equipment at the time of interchange.
Trailer on flat car (TOFC) - Containers with chassis loaded onto rail cars.
Tramp steamer - A ship not operating on regular routes or schedules.
Tramp vessel - “Freelance” seagoing cargo vessel, available on a contract basis to carry cargoes to any given port. To be distinguished from liner ships, operating according to advertised routes, schedules, and rates.
Transaction statement - A document that delineates the terms and conditions agreed upon between the importer and exporter.
Transaction Statement:A document that lays out the terms and conditions that the importer and exporter have agreed
Transaction value - Value of the imported merchandise as determined by U.S. Customs officers for statistical purposes as well as to determine the amount of import duty. This is the purchase price subject to certain additions and subtractions.
Transferable letter of credit - Allows the beneficiary to make part of all of his credit payable to another supplier; used in middleman/brokerage contexts; distinguishable from back-to-back L/Cs because the transferable credit requires the knowledge and authorization of the importer (applicant/principal).
Transhipment: Transfer of goods from one vessel to another during its journey. Some letters of credit prohibit this.
Transmittal letter - Contains a list of the particulars of the shipment, a record of the documents being transmitted, and instructions for disposition of these documents. Any special instructions are also included.
transnational corporation:A firm that tries to simultaneously realize gains from experience curve economies, location economies, and global learning, while remaining locally responsive.
Transparency: The concept of making trade-related administrative processes easier to follow, including opening them to public scrutiny and subject to clear methods of challenge or amendment.
Transport document: Document given by the carrier to the shipper (seller) This document serves as receipt for the goods during shipment and as evidence of a carriage contract. The transport document MAY also serve as a document of title.
Transportation and Exportation Entry (T&E Entry) - Allows goods coming from or going to a third country (such as Canada or Mexico ) to enter the U.S. for the purpose of Trans-shipments.
TRANSPORTATION AND EXPORTATION ENTRY: A form declaring goods entering the United States for the purpose of exportation through a U.S. port. Carriers and any warehouse must be bonded.
Transportation, Logistics and the Law - In the current state of the global economy, corporate personnel need a quick reference guide to the fundamental regulations and laws governing their business. Transportation, Logistics and the Law was designed to fill that need
Transship - To change carriers in a foreign port en route to a third port. Also used to refer to a country of transshipment as “We are shipping from Canada to Mexico , transshipping across the United States .”
Transshipment:The practice of shipping a good into a third country and re-exporting it to another market as a product of the third country.
TRC - See Terminal Receiving Charges.
Treaty of Rome:This 1957 treaty established the European Community.
Trimming - Operation of shoveling and spreading, within the ship’s hold, dry bulk cargoes such as cement, ore or grains, so as to avoid weight imbalances which might hinder the ship’s handling or unloading.
The above details describes about terms called in international trade business such as Time draft ,Title document,To order, trade agreement, Trademark, Transhipment, transnational corporation,Transportation and Exportation Entry ,Trimming etc. These phrases may help importers and exporters on their day to day export import business activities. The readers can also add more information about terms used in international business trade below this post.Terms used in international trade business such as Tare weight,Tariff Rate Quota, transaction exposure,Term bill,Terms of delivery
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