Terms used in international trade business such as Dumping Margin,Dunnage, Duty Rates ,Economic Sanctions, ,economic risk etc
This post explains about terms used in international trade business such as Drum ,Dumping,Dumping Margin,Dunnage,Duty,Duty Rates ,Economic Sanctions,Effective Lease Rate,economic risk 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
Drawer - Individual or firm that issues or signs a draft and thus stands to receive payment of the stated amount from the drawee. Compare Drawee. Also see Draft.
Drum - Flat-ended or convex-ended cylindrical packaging made of metal, fiberboard, plastic, plywood, or other suitable materials. This definition also includes packaging of other shapes made of metal or plastic but does not include cylinders, jerricans, wooden barrels or bulk packaging.
DSB:Danske Staatsbahn (Danish Railways)
DST - See Double Stack Train.
DTI:Department of Trade and Industry
Dumping - Generally seen as an unfair trading practice. It occurs when a good is sold for less than its "fair value", generally meaning it is exported for less than it is sold in the domestic market or third country markets, or it is sold for less than production cost. Article VI of the GATT permits the imposition of special anti-dumping duties against dumped goods, equal to the difference between their export price and their ''fair value'' in the export market, if dumping causes injury in the importing country.
Dumping - Selling merchandise in another country at a price below the price at which the same merchandise is sold in the home market or selling such merchandise below the costs incurred in production and shipment.
Dumping Margin - Amount by which the imported merchandise is sold in the United States below the home market or third country price or the constructed value (that is, at less than its "fair value"). For example, if the U.S. "purchase price" is $200 and the fair value is $220, the dumping margin is $20. This margin is expressed as a percentage of the United States price. In this example, the margin is 10 percent.
Dumping:Selling goods in another country at a price below the price at which they could be sold in the home market. Or selling goods at a price below the costs incurred in production and shipment
Dunnage:Materials used for the stowage and protection of cargo
Duty - A tax imposed on imports by the customs authority of a country. Duties are generally based on the value of the goods (ad valorem duties), some other factor such as weight or quantity (specific duties), or a combination of value and other factors (compound duties).
DUTY DRAWBACK:A partial refund of duties paid on importation of goods which are further processed and then re-exported, or exported in same condition as imported.
Duty Rates - Tax imposed by U.S. Customs on imported merchandise. There are three basic types: (1) ad valorem - based on the entered value, (2) specific - an amount per unit of quantity, (3) compound - combination of ad valorem and specific rates.
Duty: A tax on imports imposed by the customs authority of a country. Duties are generally based on the value of the product being imported (ad valorem), weight, or quantity (specific duties), or a combination of value and other factors (compound duties). Also known as a tariff.
Duty: you may be required to pay import duty if you are bringing goods into the UK. There is no duty on goods that are in free circulation (see Free circulation) within the EU.For goods that are imported from outside the EU, the rate of duty depends on the product and the country of origin. Duty is based on the cost, insurance and freight value (ad valorem duties) of the goods. Rates of duty can vary suddenly and without warning and can have a significant effect on the value of the goods.
DWC:Dead-weight Capacity (of vessel to carry cargo)
DWT - See Deadweight.
E&OE (Errors and Omissions Excepted) - When appended to a signature on a shipping document, indicates a disclaimer of responsibility for spelling, typographical, or clerical errors.
E&oe:Errors and omissions excepted
E.X.W. Ex Works:Indicates that the buyer is responsible for cargo when it's available at the seller's factory.
EAPE:Exchange as per Endorsement
EAR - See Export Administration Regulations.
EAR:Export After Repair
EAR99 - Provision within the Commerce Control List (CCL) for any item subject to the EAR but not specifically provide for within a particular ECCN. In essence, a 'basket' provision for all items not otherwise defined in the CCL.
EC:European Community
ECA:Economic Co-operation Administration
ECC:Exchange Control Copy / Extended Cover Clause (insurance)
ECCN - See Export Control Classification Number.
ECCP: East Coast Coal Port
ECE - See UNECE.
ECGD:Export Credits Guarantee Department (UK)
ECI:Export Consignment Identifier
ECOFIN:Economic and Financial Affairs Council (EU)
Economic Life(Useful Life): The period of time during which an asset will have economic value and be usable.
economic risk:The likelihood that events, including economic mismanagement, will cause drastic changes in a country’s business environment that adversely affect the profit andother goals of a particular business enterprise.
Economic Sanctions: The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign countries, terrorists, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction.
ECPD:Export Cargo Packing Declaration
ECS:Echantillons Commerciaux (Commercial Samples)
ECSI:Export Cargo Shipping Instruction
ECT:Europe Combined Terminals- Rotterdam
EDCS:Electronic Data Capture Service
EDI - Electronic data interchange.
EDIA:Electronic Data Interchange Association
EDIFACT - Electronic Data Interchange for Administration, Commerce, and Transportation EDIFACT is an international syntax used in the interchange of electronic data. Customs uses EDIFACT to interchange data with the importing trade community.
EEA:European Economic Area
Effective Lease Rate: The effective rate (to the lessee) of cash flows resulting from a lease transaction. To compare this rate with a loan interest rate, a company must include in the cash flows any effect the transactions have on federal tax liabilities.
The above details describes about terms called in international trade business such as Drum,Dumping, Dumping Margin,Dunnage,Duty,Duty Rates ,Economic Sanctions,Effective Lease Rate,economic risk 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 Electronic data exchange,Electronic Export Information, Equipment Schedule,Equity Participant
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