Terms used in international trade business such as Tare weight,Tariff Rate Quota, transaction exposure,Term bill,Terms of delivery etc.
This post explains about terms used in international trade business such as systematic risk,Taking in charge,Tare weight,Tariff Rate Quota,Technical name,transaction exposure,Term bill,Terms of delivery,Through bill of lading,Twenty-foot equivalent units 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
systematic risk:Movements in a stock portfolio’s value attributable to macroeconomic forces affecting all firms in an economy,rather than factors specific to an individual firm.
T/L:Total Loss
Table of Denial Orders - List of individuals and firms that have been disbarred from shipping or receiving U.S. goods or technology. Firms and individuals on the list may be disbarred with respect to either controlled commodities or general destination (across-the-board) exports. The list is published in the Export Administration Regulations.
Taking in charge: Receipt of goods by carrier from shipper.
Tare weight - The weight of a container and packing materials without the weight of the goods it contains. Compare Gross weight.
Tare weight: The weight of a container and packing materials which excludes the weight of the goods it contains.
TARE WEIGHT:The weight of packing and containers without the goods to be shipped.
Tariff - Tax assessed by a government in accordance with its tariff schedule on goods as they enter (or leave) a country. May be imposed to protect domestic industries from imported goods and/or to generate revenue. Types include ad valorem, specific, variable, or some combination.
Tariff quotas - Application of a higher tariff rate to imported goods after a specified quantity of the item has entered the country at a lower prevailing rate.
Tariff quotas: European Union (EU) system to allow the importation of limited amounts of certain goods (sometimes from specified countries) at a rate of duty lower than would otherwise apply.
Tariff Rate Quota (TRQ): Two-stage tariff: imports up to the quota level enter at a lower rate of duty; over-quota imports enter at a higher rate.
Tariff schedule - Comprehensive list of the goods which a country may import and the import duties applicable to each product.
Tariff: Customs duties on merchandise imports. Levied either on an ad valorem (percentage of value) or on a specific basis (e.g., $5 per 100 kgs). Tariffs give price advantage to similar locally produced goods and raise revenues for the Government.
Tarriff barrier - Customs duties, which are one possible barrier to imports into a country by making them more expensive.
tax haven:A country with exceptionally low, or no, income taxes.
Tax Lease: A lease wherein the lessor recognizes the tax incentives provided by the tax laws for investment and ownership of equipment. Generally, the lease rate factor on tax leases is reduced to reflect the lessor's recognition of this tax incentive.
tax treaty:An agreement specifying what items of income will be taxed by the authorities of the country where the income is earned.
TDC:Total Distribution Costs
TDW:Tons Deadweight
Technical name - Recognized chemical name used in scientific and technical handbooks, journals, and texts. Examples of acceptable generic chemical descriptions are organic phosphate compounds, petroleum aliphatic hydrocarbons and tertiary amines. Unless specifically authorized, trade names may not be used as technical names.
Technology Transfer: Through trade or capital flight, the movement or sharing of technology.
temporal method:Translating assets valued in a foreign currency into the home currency using the exchange rate that existed when the assets were originally purchased.
transaction exposure:The extent to which income from individual transactions is affected by fluctuations in foreign exchange values.
Temporary Import Under Bond (TIB) - Procedure in which goods are imported without payment of duty, by posting a bond to guarantee that they will be exported.
Tender bond/ guarantee - Guarantee provided by a company responding to an international invitation to submit bids or tenders (as for a large construction project); the tender bond is submitted along with the tender; the tender bond is required with the purpose of discouraging frivolous bids and ensuring that the winning bidder will actually sign and execute the contract.
Tenor (of a draft) - Designation of a payment as being due at sight, a given number of days after sight, or a given number of days after date.
Term bill: A bill of exchange on which payment is due at a future date. This is sometimes called a tenor bill.
Terminal handling charge (THC) - Handling charges assessed for services rendered within container terminals or with respect to containers which will be processed through terminals. When delivery or pickup of the goods is expected to be at a container terminal, traders are well-advised to stipulate precisely which party will pay for all or part of the terminal handling charges.
Terminal Receiving Charges (TRC) - Loading charges at origin port of a steamship or NVOCC.
Terms of delivery: cover the division of responsibility for the costs of an export or import sale and for the risk of loss or damage in transit.
Terms of Sale ® - Used to describe the Incoterms® 2000 terms. Now replaced with word "rules". See Incoterms® 2010.
terms of trade :a measurement of a country’s position in international trade, which compares the prices of the goods it sells to other countries with the prices of the goods it buys from other countries.
TEU - Twenty-foot equivalent units; a means of measuring the carrying capacity of container ships; e.g. a ship can be said to be capable of 3000 TEU’s, which is roughly equivalent to saying it could carry 3000 standard containers.
Textiles & Wearing Apparel: Documentation & Procedures - This book outlines the specific requirements for importing apparel and textiles into the U.S. It explains the process for classifying these goods with simple examples, properly valuing them for Customs entry into the United States, country of origin marking requirements, and preparing the import documentation.
THC - See Terminal handling charge.
the ICC:the International Chamber of Commerce: an international organization of business owners
the OECD:the Organization for Economic Cooperation and Development: a group of rich countries that work together to increase world trade
the World Trade Organization:an international organization that controls trade between countries
Through bill of lading - A single bill of lading converting both the domestic and international carriage of an export shipment. An air waybill, for instance, is essentially a through bill of lading used for air shipments. Ocean shipments, on the other hand, usually require two separate documents - an inland bill of lading for domestic carriage and an ocean bill of lading for international carriage. Through bills of lading are insufficient for ocean shipments. Compare Air waybill, Inland bill of lading and Ocean bill of lading.
The above details describes about terms called in international trade business such as systematic risk,Taking in charge,Tare weight,Tariff Rate Quota,Technical name,transaction exposure,Term bill,Terms of delivery,Through bill of lading,Twenty-foot equivalent units 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 Standard shipping note,Steamship conference,Stocking Distributor, Strike price,Subsidy
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