acceptance

(law) (a) An unconditional assent to an offer. (b) An assent to an offer conditioned on only minor changes that do not affect any material terms of the offer.
(shipping) Receipt by the consignee of a shipment thus terminating the common carrier liability.

ad valorem

Literally: according to value.
(general) Any charge, tax, or duty that is applied as a a percentage of value.
(taxation) A tax calculated on the value of the property subject to the tax.
(shipping) A freight rate set at a certain percentage of the declared value of an article.
(U.S. Customs) Ad valorem duty. A duty assessed as a percentage rate or value of the imported merchandise. For example, 5% ad valorem. See also duty.

advance against collection

(banking) A short term loan or credit extended to the seller (usually the exporter) by the seller's bank once a draft has been accepted by the buyer (generally the importer) of the seller's goods. Once the buyer pays the loan is paid off. If the buyer does not pay the draft, the seller must still make good on the loan.

advising bank

(banking) The bank (also referred to as the seller's or exporter's bank) which receives a letter of credit or amendment to a letter of credit from the issuing bank (the buyer's bank) and forwards it to the beneficiary (seller/exporter) of the credit. See also letter of credit.

advisory capacity

A term indicating that a shipper's agent or representative is not empowered to make definitive decisions or adjustments without approval of the group or individual represented. Compare to without reserve.

agent

(law) An individual or legal entity authorized to act on behalf of another individual or legal entity (the principal). An agent's authorized actions will bind the principal. A sales representative, for example, is an agent of the seller.

air waybill (airbill)

(Shipping) A shipping document used by the airlines for air freight. It is a contract for carriage that includes carrier conditions of carriage including such items as limits of liability and claims procedures. The air waybill also contains shipping instructions to airlines, a description of the commodity and applicable transportation charges. Air waybills are used by many truckers as through documents for coordinated air/truck service.
Air waybills are not negotiable. The airline industry has adopted a standard formatted air waybill that accommodates both domestic and international traffic. The standard document was designed to enhance the application of modern computerized systems to air freight processing for both the carrier and the shipper. See also bill of lading.

alongside

(shipping) A phrase referring to the side of a ship. (a) Goods to be delivered "alongside" are to be placed on the dock or lighter within reach of the transport ship's tackle so that they can be loaded aboard the ship. (b) Goods delivered to the port of embarkation, but without loading fees.

arbitrage

(banking/finance/foreign exchange) The simultaneous buying and selling (or borrowing and lending) of identical securities, currencies, or commodities in two or more markets to take advantage of price differentials.

ATA Carnet

(customs) ATA stands for the combined French and English words Admission Temporair/Temporary Admission." An ATA Carnet is an international customs document which may be used for the temporary duty-free admission of certain goods into a country in lieu of the usual customs documents required. The carnet serves as a guarantee against the payment of customs duties which may become due on goods temporarily imported and not re-exported. Quota compliance may be required on certain types of merchandise.

ATA Carnets are issued by National Chambers of Commerce affiliated with the Paris-based International Chamber of Commerce (ICC). These associations guarantee the payment of duties to local customs authorities should good imported under cover of a foreign-issued carnet not be re-exported.

The issuing and guaranteeing organization in the United States is: U.S. Council, International Chamber of Commerce, 1212 Avenue of the Americas, New York, NY 10036; Tel: (212) 354-4480. Additional information can be obtained from The Roanoke Companies, agents for the U.S. Council for International Business. Address: The Roanoke Companies, 1930 Thoreau Drive, Suite 101, Schaumburg, IL 60173; Tel: (800) ROANOKE (800-762-6653), or (847) 490-5940.

See also carnet.

balance of trade

(economics) The difference between a country's total imports and exports over a set period. (a) A balance of trade deficit is when a country imports more than it exports. (b) A balance of trade surplus is when a country exports more than it imports.

barter

The direct exchange of goods for other goods without the use of money as a medium of exchange and without involvement of a third party. See also countertrade.

beneficiary

(banking/letter of credit) The individual or company in whose favor a letter of credit is opened.

(insurance) The person or legal entity named to receive the proceeds or benefits of an insurance policy.

bill of exchange

(banking) An unconditional order in writing, signed by a person (drawer) such as a buyer, and addressed to another person (payee), often a seller, on demand or at a fixed or determinable future time. The most common versions of a bill of exchange are sight drafts, time drafts, and promissory notes. The most common versions of a bill of exchange are:

(a) A draft, wherein the drawer instructs the drawee to pay a certain amount to a named person, usually in payment for the transfer of goods or services. Sight drafts are payable when presented. Time drafts (also called usance drafts) are payable at a future fixed (specific) date or determinable (30, 60, 90 days, etc.) date. Time drafts are used as a financing tool to give the buyer time to pay for his purchase.

(b) A promissory note, wherein the issuer promises to pay a certain amount.

For more information, refer to Chapter 13, .

bill of lading

A document issued by a carrier to a shipper, signed by the captain, agent, or owner of a vessel, furnishing written evidence regarding receipt of the goods (cargo), the conditions on which transportation is made (contract of carriage), and the engagement to deliver goods at the prescribed port of destination to the lawful holder of the bill of lading. A bill of lading is, therefore, both a receipt for merchandise and a contract to deliver it as freight. See also air waybill, inland bill of lading, ocean bill of lading, and through bill of lading.

bonded warehouse

(U.S. Customs) A warehouse owned by persons approved by the Treasury Department, and under bond or guarantee for the strict observance of the revenue laws of the United States; utilized for storing goods until the goods enter the Customs Territory of the United States. The goods are not subject to duties if reshipped to foreign points.

booking

(shipping) The act of recording arrangements for the movement of goods by vessel.

buying agent

See purchasing agent.

carnet

(customs) A customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries (for display, demonstration, or similar purposes) without paying duties or posting bonds. See also ATA Carnet.

carrier

(law/shipping) An individual or legal entity that is in the business of that transporting passengers or goods for hire. Shipping lines, airlines, trucking companies and railroad companies are all carriers.

(a) A common carrier is one that by law must convey passengers or goods without refusal, provided the party requesting conveyance has paid the charge for transport. By U.S. government regulation, a common carrier publishes stated rates for carriage and must accept andy passengers or goods for transport so long as space is available and the published rate is paid.

(b) A private or contract carrier is one that transports only those persons or goods that it selects.

cash against documents (CAD)

Payment for goods in which a commission house or other intermediary transfers title documents to the buyer upon payment in cash.

cash in advance (CIA)

Payment for goods in which the price is paid in full before shipment is made. This method is usually used only for small purchases or when the goods are built to order.

cash with order (CWO)

Payment for goods in which the buyer pays when ordering and in which the transaction is binding on both parties.

certificate of inspection

A document certifying that merchandise (such as perishable goods) was in good condition at the time of inspection, usually immediately prior to shipment. Pre-shipment inspection is a requirement for importation of goods into many developing countries. Often used interchangeably with certificate of analysis. See also phytosanitary inspection certificate.

certificate of manufacture

A document (often notarized) in which a producer of goods certifies that the manufacturing has been completed and that the goods are now at the disposal of the buyer.

certificate of origin

A document attesting to the country of origin of goods. A certificate of origin is often required by customs authorities of a country as part of the entry process. Such certificates are usually obtained through an official or quasi-official organization in the country of origin, such as a consular office or local chamber of commerce. A certificate of origin may be required even though the commercial invoice contains the information.

cost and freight ... (named port of destination) (CFR)

(Incoterm) "Cost and Freight" (CFR) means that the seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel, is transferred from the seller to the buyer when the goods pass the ship's rail in the port of shipment. The CFR term requires the seller to clear the goods for export. For more information, refer to Chapter 10, .

charter party

A lease or agreement to hire an airplane, vessel, or other means of conveyance to transport goods on a designated voyage to one or more locations.

cost, insurance, freight ... (named port of destination) (CIF)

(Incoterm) "Cost, Insurance, Freight" (CIF) means that the seller has the same obligations as under cost and freight (CFR) but with the addition that he has to procure marine insurance against the buyer's risk of loss of or damage to the goods during the carriage. For more information, refer to Chapter 10, .

clean bill of lading

(shipping) A bill of lading receipted by the carrier for goods received in "apparent good order and condition," without damages or other irregularities, and without the notation "Shippers Load and Count." See also bill of lading

clean draft

(banking) A sight or date draft which has no documents attached to it. This is to be distinguished from documentary draft.

collection papers

All documents (invoices, bills of lading, etc.) submitted to a buyer for the purpose of receiving payment for a shipment.

commercial attache

The commerce expert on the diplomatic staff of his or her country's embassy or large consulate.

commercial invoice

(general) A document identifying the seller and buyer of goods or services, identifying numbers such as invoice number, date, shipping date, mode of transport, delivery and payment terms, and a complete listing and description of the goods and services being sold including prices, discounts and quantities.

(customs) A commercial invoice is often used by governments to determine the true (transaction) value of goods for the assessment of customs duties and also to prepare consular documentation. Governments using the commercial invoice to control imports often specify its form, content, number of copies, language to be used, and other characteristics.

confirmed letter of credit

(banking) A letter of credit which contains a guarantee on the part of both the issuing and advising banks of payment to the seller so long as the seller's documentation is in order and the terms of the letter of credit are met. Confirmation is only added to irrevocable letters of credit, usually available with the advising bank. See also letter of credit. Refer to Chapter 13.

consignment

(shipping) Shipment of one or more pieces of property, accepted by a carrier for one shipper at one time, receipted for in one lot, and moving on one bill of lading.

(commerce) Delivery of merchandise from an exporter (the consignor) to an agent (the consignee) under agreement that the agent sell the merchandise for the account of the exporter. The consignor retains title to the goods until sold. The consignee sells the goods for commission and remits the net proceeds to the consignor.

consular declaration

A formal statement, made in a country of export by the consul of an importing country, describing goods to be shipped to the importing country. See also consular invoice.

consular invoice

(customs) An invoice covering a shipment of goods certified (usually in triplicate) by the consul of the country for which the merchandise is destined. This invoice is used by customs officials of the country of entry to verify the value, quantity, and nature of the merchandise imported. See also commercial invoice. Refer to Chapter 12).

convertible currency

A currency that can be easily exchanged, bought and sold for other currencies.

correspondent bank

(banking) A bank that acts as a depository for another bank, accepting deposits and collecting items (such as drafts) on a reciprocal basis. Correspondent banks are often in foreign countries.

countertrade

An umbrella term for several sorts of trade in which the seller is required to accept goods or other instruments or trade, in partial or whole payment for its products.

Countertrade transactions include barter, buy-back or compensation, counterpurchase, offset requirements, swap, switch, or triangular trade, evidence or clearing accounts.

countervailing duty

A special duty imposed on imports to offset the benefits of subsidies to producers or exporters in the exporting country. Countervailing duties in the U.S. can only be imposed after the International Trade Commission has determined that the imports are causing or threatening to cause material injury to a U.S. industry.

carriage paid to ... (named port of destination) (CPT)

(Incoterm) "Carriage paid to ... " (CPT) means that the seller pays the freight for the carriage of the goods to the named destination. The risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered to the carrier, is transferred from the seller to the buyer when the goods have been delivered into the custody of the carrier.

carriage and insurance paid to ... (named port of destination) (CIP)

(Incoterm) "Carriage and insurance paid to ... " (CIP) means that the seller has the same obligations as under CPT (carriage paid to) terms, but with the addition that the seller has to procure cargo insurance against the buyer's risk of loss of or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium.

credit risk insurance

Insurance designed to cover risks of nonpayment for delivered goods.

customs broker

An individual or firm licensed to act for importers in handling the sequence of customs formalities and other details critical to the legal and speedy exporting and importing of goods.

customs

A government authority designated to regulate the flow of goods to/from a country and to collect duties levied by a country on imports and exports. The term also applies to the procedures involved in such collection.

date draft

A draft that matures in a specified number of days after the date it is issued, without regard to the date of acceptance. See also bill of exchange. Also refer to Chapter 13, .

deferred payment letter of credit

(banking) A letter of credit which enables the buyer to take possession of the title documents and the goods by agreeing to pay the issuing bank at a fixed time in the future. See also letter of credit.

destination control statement

Any of various statements that the U.S. government requires to be displayed on export shipments and that specify the destinations for which export of the shipment has been authorized. For more information, refer to Chapter 12, .

devaluation

(economics) The lowering of the value of a national currency in terms of the currency of another nation. Devaluation tends to reduce domestic demand for imports in a country by raising their prices in terms of the devalued currency and to raise foreign demand for the country's exports by reducing their prices in terms of foreign currencies. Devaluation can therefore help to correct a balance of payments deficit and sometimes provide a short-term basis for economic adjustment of a national economy.

domestic international sales corporation (DISC)

(U.S.) A special U.S. corporation authorized by the U.S. Revenue Act of 1971, as amended by the Tax Reform Act of 1984, to borrow from the U.S. Treasury at the average one-year Treasury Bill interest rate to the extent of income tax liable on 94 percent of its annual corporate income. For more information, see .

discrepancies

(banking/letter of credit) The non-compliance of documents with the terms and conditions of a letter of credit. Information (or missing information or missing documents/papers, etc.) in the documents submitted under a letter of credit, which: (1) is not consistent with its terms and conditions; (2) is inconsistent with other documents submitted; (3) does not meet the requirements of the Uniform Customs and Practice for Documentary Credits (UCPDC), 1993 revision.

If the documents show discrepancies of any kind, the issuing bank is no longer obligated to pay and, in the case of a confirmed letter of credit, neither is the confirming bank (strict documentary compliance).

See also letter of credit.

dispatch

(shipping) (a) 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. (b) The release of a container to an interline carrier.

distributor

An agent who sells directly for a supplier and maintains an inventory of the supplier's products.

dock receipt

(shipping) A receipt issued by a warehouse supervisor or port officer certifying that goods have been received by the shipping company. The dock receipt is used to transfer accountability when an export item is moved by the domestic carrier to the port of embarkation and left with the international carrier for movement to its final destination. See also warehouse receipt.

documentary collection

(banking) A method of effecting payment for goods whereby the seller/exporter ships goods to the buyer, but instructs his bank to collect a certain sum from the buyer/importer in exchange for the transfer of title, shipping and other documentation enabling the buyer/importer to take possession of the goods. The two types of documentary collection are:

(a) Documents against payment (D/P), where the bank releases the documents to the buyer/importer only against a cash payment in a prescribed currency; and

(b) Documents against acceptance (D/A), where the bank releases the documents to the buyer/importer against acceptance of a bill of exchange (draft) guaranteeing payment at a later date.

documents against acceptance (D/A)

See documentary collection.

documents against payment (D/P)

See documentary collection.

draft

See bill of exchange.

drawback--refund of duties

(U.S. Customs) The refund of all or part of customs duties, or domestic tax paid on imported merchandise which was subsequently either manufactured into a different article or reexported. The purpose of drawback is to enable a domestic manufacturer to compete in foreign markets without the handicap of including in his costs, and consequently his sales price, the duty paid on imported raw materials or merchandise used in the subsequent manufacture of the exported goods.

drawee

The individual or firm on whom a draft is drawn and who owes the indicated amount. In a documentary collection, the drawee is the buyer.

drawer

The individual or firm that issues or signs a draft and thus stands to receive payment of the indicated amount from the drawee. In a documentary collection, the drawer is the seller.

dumping

(customs) The sale of a commodity in a foreign market at less than fair value, usually considered to be a price lower than at which it is sold within the exporting country to third countries.

"Fair value" can also be the constructed value of the merchandise plus a mandatory 8 percent profit margin.

Dumping is generally recognized as an unfair trade practice because it can disrupt markets and injure producers of competitive products in an importing country.

duty

(customs) A tax levied by a government on the import, export or consumption of goods. Usually 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). See also ad valorem.

Eurodollars

(banking) U.S. dollar-denominated deposits in banks and other financial institutions outside of the United States. Originating from, but not limited to, the large quantity of U.S. dollar deposits held in western Europe.

ex ... (named point of origin)

(trade term) A term of sale where the price quoted applies only at the point of origin and the seller agrees to place the goods at the disposal of the buyer at the specified place on the date or within the period fixed. All other charges are for the account of the buyer.

exchange permit

(foreign exchange) A government permit sometimes required by the importer's government to enable the import firm to convert its own country's currency into foreign currency with which to pay a seller in another country.

exchange rate

(foreign exchange) The price of one currency expressed in terms of another, i.e., the number of units of one currency that may be exchanged for one unit of another currency.

export broker

An individual or firm that brings together buyers and sellers for a fee but does not take part in actual sales transactions.

export commission house

An organization which, for a commission, acts as a purchasing agent for a foreign buyer.

export declaration

See shipper's export declaration.

export license

A document prepared by a government authority, granting the right to export a specified quantity of a commodity to a specified country. This document may be required in some countries for most or all exports and in other countries only under special circumstances.

export management company (EMC)

A private firm that serves as the export department for several manufacturers, soliciting and transacting export business on behalf of its clients in return for a commission, salary, or retainer plus commission. See also .

export trading company (ETC)

A corporation or other business unit organized and operated principally for the purpose of exporting goods and services, or of providing export-related services to other companies. An ETC can be owned by foreigners, and can import, barter, and arrange sales between third countries, as well as export. See also .

(U.S.) The Export Trading Company Act of 1982 exempts authorized trading companies from certain provisions of U.S. antitrust laws.

factoring houses

Certain companies which purchase domestic or foreign accounts receivables (e.g., the as yet unpaid invoices to domestic and foreign buyers) at a discounted price, usually about 2 to 4 percent less than their face value. See also .

free alongside ship ... (named port of shipment) (FAS)

(Incoterm) "Free Alongside Ship" (FAS) means that the seller fulfills his obligation to deliver when the goods have been placed alongside the vessel on the quay or in lighters at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that moment. The FAS term requires the buyer to clear the goods for export. It should not be used when the buyer cannot carry out directly or indirectly the export formalities. For more information, refer to Chapter 10, .

free carrier ... (named place) (FCA)

"Free carrier" (FCA) means that the seller fulfills his obligation to deliver when he has handed over the goods, cleared for export, into the charge of the carrier named by the buyer at the named place or point. If no precise point is indicated by the buyer, the seller may choose within the place or range stipulated where the carrier shall take the goods into his charge. When, according to commercial practice, the seller's assistance is required in making the contract with the carrier (such as in rail or air transport) the seller may act at the buyer's risk and expense. For more information, refer to Chapter 10, .

free in (FI)

(shipping) A pricing term indicating that the loading charges are for the account of the supplier.

free out (FO)

(shipping) A pricing term indicating that unloading charges are for the account of the receiver.

free on board ... (named port of shipment) (FOB)

(Incoterm) "Free on board" (FOB) means that the seller fulfills his obligation to deliver when the goods have passed over the ship's rail at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. The FOB term requires the seller to clear the goods for export. For more information, refer to Chapter 10, .

force majeure

(shipping) Any condition or set of circumstances, such as earthquakes, floods, or war, beyond the carrier's control that prevents the carrier from performing fulfillment of their obligations.

foreign exchange

(banking/foreign exchange) Current or liquid claims payable in foreign currency and in a foreign country (bank balances, checks, bills of exchange). Not to be confused with foreign bank notes and coin, which are not included in this definition.

foreign sales agent

An individual or firm that serves as the foreign representative of a domestic supplier and seeks sales abroad for the supplier.

foreign trade zone (FTZ)

FTZs (or free zones, free ports, or bonded warehouses) are special commercial and industrial areas in or near ports of entry where foreign and domestic merchandise, including raw materials, components, and finished goods, may be brought in without being subject to payment of customs duties. Merchandise brought into these zones may be stored, sold, exhibited, repacked, assembled, sorted, graded, cleaned, or otherwise manipulated prior to reexport or entry into the national customs territory.

foul bill of lading

(shipping) A receipt for goods issued by a carrier with an indication that the goods were damaged or short in quantity when received.

free port

An area, such as a port city, into which imported merchandise may legally be moved without payment of duties. See also foreign trade zone.

freight forwarder

(shipping) A person engaged in the business of assembling, collection, consolidating, shipping and distributing less-than-carload or less-than-truckload freight. Also, a person acting as agent in the transshipping of freight to or from foreign countries and the clearing of freight through customs, including full preparation of documents, arranging for shipping, warehousing, delivery and export clearance.

General Agreement on Tariffs and Trade (GATT)

A multilateral trade agreement aimed at expanding international trade. The main goals of GATT are to liberalize world trade an place it on a secure basis thereby contributing to economic growth and development and the welfare of the world's people. GATT is the only multilateral instrument that lays down agreed rules for international trade.

gross weight

The full weight of a shipment, including goods and packaging. Compare with tare weight.

import license

(customs) A document required and issued by some national governments authorizing the importation of goods into their individual countries.

inland bill of lading

A bill of lading used in transporting goods overland to the exporter's international carrier. Although a through bill of lading can sometimes be used, it is usually necessary to prepare both an inland bill of lading and an ocean bill of lading for export shipments. See also air waybill, ocean bill of lading, and through bill of lading.

irrevocable letter of credit

(banking) A letter of credit which cannot be amended or cancelled without prior mutual consent of all parties to the credit. Such a letter of credit guarantees payment by the bank to the seller/exporter so long as all the terms and conditions of the credit have been met. See also letter of credit.

letter of credit (L/C)

(banking) Formal term: Documentary credit or documentary letter of credit.

A letter of credit (L/C) is a document issued by a bank stating its commitment to pay someone (supplier/seller) a stated amount of money on behalf of a buyer (importer) so long as the seller meets specific terms and conditions. Letters of credit are more formally called documentary letters of credit because the banks handling the transaction deal in documents as opposed to goods. Letters of credit are the most common method of making international payments, because the risks of the transaction are shared by both the buyer and the seller.

licensing agreement

(law) A contract whereby the holder of a trademark, patent, or copyright transfers a limited right to use a process, sell or manufacture an article, or furnish specialized services covered by the trademark, patent or copyright to another firm.

manifest

(document) A document giving the description of a ship's cargo or the contents of a car or truck.

marine insurance

Insurance covering loss of, or damage to, goods at sea. Marine insurance typically compensates the owner of merchandise for losses in excess of those which can be legally recovered from the carrier that are sustained by fire, shipwreck, piracy, and various other causes.

ocean bill of lading

(shipping) A receipt for the cargo and a contract for transportation between a shipper and the ocean carrier. It may also be used as an instrument of ownership (negotiable bill of lading) which can be bought, sold, or traded while the goods are in transit. To be used in this manner, it must be a negotiable "order" bill of lading.

on board

(shipping) Notation on a bill of lading indicating that the goods have been loaded on board or shipped on a named ship. In the case of received for shipment bills of lading, the following four parties are authorized to add this "on board" notation: (1) the carrier, (2) the carrier's agent, (3) the master of the ship, and (4) the master's agent. See also ocean bill of lading, bill of lading.

open account

Credit extended that is not supported by a note, mortgage, or other formal written evidence of indebtedness (e.g., merchandise for which a buyer is later billed). Because this method poses an obvious risk to the supplier, it is essential that the buyer's integrity be unquestionable.

open policy

(insurance) An insurance contract (policy) which remains in force until cancelled and under which individual successive shipments are reported or declared and automatically covered on or after the inception date. The open policy saves time and expense for all concerned, whether underwater, agent or assured.

order bill

(law) A bill of lading that states that goods are consigned to the order of the person named in the bill.

packing list

(shipping) A document prepared by the shipper listing the kinds and quantities of merchandise in a particular shipment. A copy is usually sent to the consignee to assist in checking the shipment when received. Also referred to as a bill of parcels. For more information, refer to Chapter 12, .

Private Export Funding Corporation (PEFCO)

(U.S.) PEFCO works with the Export-Import Bank in using private capital to finance U.S. exports. PEFCO acts as a supplemental lender to traditional banking sources by making loans to public and private borrowers located outside of the United States who require medium- and/or longer-term financing of their purchases of U.S. goods and services.

phytosanitary inspection certificate

(U.S.) A certificate issued by the U.S. Department of Agriculture to satisfy import regulations of foreign countries, indicating that a U.S. export shipment has been inspected and is free from harmful pests and plant diseases.

political risk

(economics) Extraordinary measures of foreign countries and political events abroad which make it impossible for a debtor to comply with a contract or which leads to the loss, confiscation of or damage to goods belonging to the exporter (e.g., war, revolution, annexation, civil war) which can have detrimental effect upon the exporter. An exporter may be able to cover this risk by utilizing a confirmed letter of credit or by applying for cover from export credit agencies.

pro forma invoice

An invoice provided by a supplier prior to a sale or shipment of merchandise, informing the buyer of the kinds and quantities of goods to be sent, their value, and important specifications (weight, size, etc.). A pro forma invoice is used: (1) as a preliminary invoice together with a quotation; (2) for customs purposes in connection with shipments or samples, advertising materials, etc.

purchasing agent

An agent who purchases goods in his/her own country on behalf of foreign buyers such as government agencies and private businesses.

quota

(customs) A limitation on the quantity of goods that may be imported into a country from all countries or from specified countries during a set period of time.

quotation

(foreign exchange) The price quotation of a currency can be made either directly or indirectly. (a) The direct quotation gives the equivalent of a certain amount of foreign currency (normally in units of 100 or one) in domestic currency. (b) In an indirect price quotation (less common) the domestic currency is valued in units of foreign currency.

remitting bank

(banking) In a documentary collection, a bank which acts as an intermediary, forwarding the remitter's documents to, and payments from the collecting bank.

revocable letter of credit

A letter of credit which can be cancelled or altered by the drawee (buyer) after it has been issued by the drawee's bank. Due to the low level of security of this type of credit, they are extremely rare in practice. Compare Irrevocable letter of credit. Refer to Chapter 13.)

shipper's export declaration (SED)

A form required for some U.S. export shipments by mail valued at more than $500 or non-mail shipments with declared value of greater than $2,500. Prepared by shipper indicating the value, weight, destination, and other basic information about the shipment. The shipper's export declaration is used to control exports and compile trade statistics. See also .

ship's manifest

(shipping) A list, signed by the captain of a ship, of the individual shipments constituting the ship's cargo. See also manifest.

sight draft (S/D)

(banking) A financial instrument payable upon presentation or demand. A bill of exchange may be made payable, for example, at sight or after sight, which means it is payable upon presentation or demand, or within a particular period after demand is made. See also bill of exchange.

spot exchange

(foreign exchange) The purchase and sale of foreign exchange for delivery and payment at the time of the transaction.

standard industrial classification (SIC)

(U.S.) The classification standard underlying all establishment-based U.S. economic statistics classified by industry.

standard international trade classification (SITC)

One of a number of numerical commodity codes developed by the United Nations and used solely by international organizations for reporting international trade. The SITC has been revised several times; the current version is Revision 3. See also Harmonized System.

straight bill of lading

(shipping) A nonnegotiable bill of lading that designates a consignee who is to receive the goods and that obligates the carrier to deliver the goods to that consignee only. A straight bill of lading cannot be transferred by endorsement.

tare weight

The weight of a container and/or packing materials, but without the weight of the goods being shipped. The gross weight of a shipment minus the net weight of the goods being shipped. Compare with gross weight.

tenor

(law/banking) The period between the formation of a debt and the date of expected payment.

through bill of lading

(shipping) A single bill of lading covering receipt of the cargo at the point of origin for delivery to the ultimate consignee, using two or more modes of transportation. See also bill of lading.

time draft

(banking) A financial instrument that is payable at a future fixed or determinable date.

tramp steamer

(shipping) A steamship which does not operate under any regular schedule from one port to another, but calls at any port where charge may be obtained.

trust receipt

(banking) A declaration by a client to a bank that ownership in goods released by the bank are retained by the bank, and that the client has received the goods in trust only.

Release of merchandise by a bank to a buyer in which the bank retains title to the merchandise. The buyer, who obtains the goods for manufacturing or sales purposes, is obligated to maintain the goods (or the proceeds from their sale) distinct from the remainder of his/her assets and to hold them ready for repossession by the bank.

Trust receipts are used under letters of credit or collections so that the buyer may receive the goods before paying the issuing bank or collecting bank.

warehouse receipt

(shipping) An instrument (document) listing the goods or commodities deposited in a warehouse. It is a receipt for the commodities listed, and for which the warehouse is the bailee. Warehouse receipts may be either nonnegotiable or negotiable.

wharfage

(shipping) (a) A charge assessed by a pier or dock owner for handling incoming or outgoing cargo. (b) The charge made for docking vessels at a wharf.

without reserve

(shipping) A term indicating that a shipper's agent or representative is empowered to make definitive decisions and adjustments abroad without approval of the group or individual represented. Compare with advisory capacity.

International Trade Administration

Web site: www.ita.doc.gov

Trade Information Center
Tel: (800) USA-TRADE
Web site: www.ita.doc.gov/how_to_export

Trade Compliance Center
Tel: (202) 482-1191
Web site: www.mac.doc.gov/tcc/index.html

Foreign-Trade Zones Board
Tel: (202) 482-2862; Fax: (202) 482-0002
Web site: www.ita.doc.gov/import_admin/records/

Bureau of Export Administration

Web site: www.bxa.doc.gov/

Office of Exporter Services
Tel: (202) 482-0436; Fax: (202) 482-3322

Exporter Counseling Division
Tel: (202) 482-4811; Fax: (202) 482-3617

Export Seminar Division
Tel: (202) 482-6031; Fax: (202) 482-2927

Regulatory Policy Division
Tel: (202) 482-2240; Fax: (202) 482-3355

Compliance & Special Licenses Division
Tel: (202) 482-0062; Fax: (202) 501-6750

System for Tracking Export License Applications (STELA)
Tel: (202) 482-2752

Public Affairs Office
Tel: (202) 482-2721; Fax: (202) 482-2421

Chemical & Biological Controls and Treaty Compliance
Tel: (202) 482-3825; Fax: (202) 482-0751

Strategic Industries and Economic Security
Tel: (202) 482-4506; Fax: (202) 482-5650

Office of Nuclear and Missile Technology Controls
Tel: (202) 482-4188; Fax: (202) 482-4145

Office of Strategic Trade and Foreign Policy Controls
Tel: (202) 482-0092; Fax: (202) 482-4094

Office of Antiboycott Compliance
Tel: (202) 482-2381; Fax: (202) 482-0913

Compliance Policy Division
Tel: (202) 482-5942; Fax: (202) 482-0913

Enforcement Division
Tel: (202) 482-2381; Fax: (202) 482-0913

Office of Export Enforcement
Tel: (202) 482-2252; Fax: (202) 482-5889

Office of Enforcement Support
Tel: (202) 482-4255; Fax: (202) 482-0971

Export License Compliance Division
Tel: (202) 482-5914

Western Regional Office, Orange County, CA
Tel: (949) 660-0144; Fax: (949) 660-9347
Web site: www.primnet.com/~bxawest

Northern Calif. Branch Office, Santa Clara County, CA
Tel: (408) 998-7402

Minority Business Development Agency (MBDA)

Minority Business Development Agency
Office of Program and Policy Development
Tel: (202) 482-5061; Fax: (202) 501-4698
Email: mbda@doc.govt
Web site: www.mbda.gov

Economic Development Administration

Web site: www.doc.gov/eda/

Trade Adjustment Assistance Division
Tel: (202) 482-2127; Fax: (202) 482-0466

National Institute of Standards and Technology

National Institute of Standards and Technology (NIST)
100 Bureau Dr.
Gaithersburg, MD 20899
Tel: (301) 975-2000; Fax: (301) 948-1935
Web site: www.nist.gov

The Metric Program
Tel: (301) 975-3690; Fax: (301) 948-1416
Email: metric_prg@nist.gov
Web site: www.nist.gov/metric

National Center for Standards and Certification Information (NCSCI),
100 Bureau Dr., Stop 2150
Gaithersburg, MD 20899-2150
Tel: (301) 975-4040, 975-4038, 975-4036, 975-5155
Fax: (301) 926-1559

Technical assistance
Tel: (301) 975-4033

GATT/WTO Standards Hotline
Tel: (301) 975-4041

EU Standards Hotline
Tel: (301) 921-4164

Bureau of the Census

Web site: www.census.gov/

Census Customer Services
Tel: (301) 457-4100
Fax: (301) 457-4714 (General info), 457-3842 (Orders)

Foreign Trade Information
Tel: (301) 457-3041; Fax; (301) 457-1158

Bureau of Export Administration
Tel: (202) 482-2721
Web site: www.census.gov

Shippers' Export Declaration Assistance
Tel: (301) 457-2238; Fax: (301) 457-3765

U.S. Patent and Trademark Office

U.S. Patent and Trademark Office
U.S. Department of Commerce
Washington, DC 20231
Tel: (703) 308-4357; Fax: (703) 305-7786
Web site: www.uspto.gov

USPTO Licensing and Review
Tel: (703) 306-4187; Fax: (703) 306-4196

Department of Defense

U.S. Department of Defense
The Pentagon
Washington, DC 20301
Tel: (703) 545-6700

Defense Threat Reduction Agency
Tel: (703) 604-8084; Fax: (703) 602-5838

Department of the Interior

U.S. Department of the Interior
1849 C Street NW
Washington, DC 20240
Tel: (202) 208-3100
Web site: www.doi.gov

Chief Office of Management Authority
Tel: (703) 358-2093; Fax: (703) 358-2280
Web site: www.fws.gov/who/usfws.html

Department of Labor

U.S. Department of Labor
200 Constitution Avenue NW
Washington, DC 20210
Tel: (202) 219-6666
Web site: www.dol.gov

Department of Transportation

U.S. Department of Transportation
400 Seventh Street, SW
Washington, DC 20590
Tel: (202) 366-4000
Web site: www.dot.gov

Office of International Law, General Counsel
Tel: (202) 366-2972; Fax: (202) 366-9188

Hazardous Materials Information Center
Tel: (800) 467-4922

Department of Energy

U.S. Department of Energy
1000 Independence Avenue SW
Washington, DC 20585
Tel: (202) 586-5000
Web site: www.doe.gov

Office of Fossil Energy
Tel: (202) 586-6503; Fax: (202) 586-5146
Web site: www.fe.doe.gov

Office of Arms Control and Non Proliferation
Export Control Division
Tel: (202) 586-2331; Fax: (202) 586-1348
Web site: http://nn43web.nn.gov/

Department of Justice

U.S. Department of Justice
Main Justice Bldg.
Washington, DC 20530

Antitrust Division
Tel: (202) 514-2401; Fax: (202) 616-2645
Web site: www.usdoj.gov

Drug Enforcement Administration
Web site: www.usdoj.gov/dea

DEA, International Chemical Control Unit
Tel: (202) 307-7202; Fax: (202) 307-8570

DEA, International Drug Unit
Tel: (202) 307-2414; Fax: (202) 307-7503

Environmental Protection Agency

Environmental Protection Agency
401 M Street SW
Washington, DC 20460-0003
Tel: (202) 260-2090
Web site: www.epa.gov

Office of Pesticide Programs
Tel: (703) 305-7090; Fax: (703) 308-4776

Office of Solid Waste
International and Special Projects Branch
Tel. (703) 308-8751; Fax: (703) 308-0522
Web site: www.epa.gov/epaoswer/

RCRA Hotline
(For information on compliance with the Resource Conservation and Recovery Act)
Tel: (703) 412-9810
Web site: www.epa.gov/

TSCA Hotline
(For information on compliance with the Toxic Substances Control Act)
Tel: (202) 554-1404

National Institute of Standards and Technology (NIST)

National Institute of Standards and Technology
Office of Information Services
Reference Desk
Tel: (301) 975-3052
Web site: www.nist.gov

National Center for Standards and Certification Information (NCSCI)
National Institute of Standards and Technology (NIST)
100 Bureau Dr., Stop 2150
Gaithersburg, MD 20899-2150
Tel: (301) 975-4040, 975-4038, 975-4036, 975-5155
Technical assistance Tel: (301) 975-4033
WTO Hotline Tel: (301) 975-4041
EU Standards Hotline Tel: (301) 921-4164
Fax: (301) 926-1559
Email: ncsci@nist.gov

The Metric Program
Tel: (301) 975-3690; Fax: (301) 948-1416
Email: metric_prg@nist.gov
Web site: www.nist.gov/metric

National Marine Fisheries Service

Office of Industry and Trade
National Marine Fisheries Service
1315 East-West Highway
Building 3, Room 3670
Silver Spring, MD 20910
Tel: (301)-713-2379; Fax: (301) 713-2384
Web site: www.nmfs.gov

Seafood Inspection Program
Tel: (301) 713-2351; Fax: (301) 713-1081

Inspection Services Division
Tel: (301) 713-2355; Fax: (301) 713-1081

National Technical Information Service (NTIS)

National Technical Information Service (NTIS)
5285 Port Royal Road
Springfield, VA 22161
Tel: (703) 605-6060; Fax: (703) 605-6900
Email: info@ntis.fedworld.gov
Web site: www.fedworld.gov

Nuclear Regulatory Commission

Nuclear Regulatory Commission
Office of International Programs
Tel: (301) 415-2344; Fax: (301) 415-2395
Web site: www.nrc.gov/NRC/nucmat.html

U.S. Government Printing Office

U.S. Government Printing Office
P.O. Box 371954
Pittsburgh, PA 15250-7954
Tel: (202) 512-1800; Fax: (202) 512-2250
Web site: www.access.gpo.gov/su_docs

U.S. Trade and Development Agency (TDA)

U.S. Trade and Development Agency
1621 North kent St., Suite 300
Arlington, VA 22209-2131
Tel: (703) 875-4357; Fax: (703) 875-4009
Email: info@tda.gov
Web site: www.tda.gov

TDA Definitional Mission Hotline
Tel: (703) 875-7447

U.S. Information Agency

U.S. Information Agency
301 4th Street SW
Washington, DC 20547
Tel: (202) 619-4355
Email: inquiry@usia.gov
Web site: www.usia.gov/usis.html

International Trade Commission

U.S. International Trade Commission
500 E Street, SW
Washington, DC 20436
Tel: (202) 205-1819; Fax: (202) 205-2798
Web site: www.usitc.gov/

A. The Americas

B. Europe and Central Asia

C. Africa and the Near East

Near East and North Africa

All inquiries regarding the countries of the Near East and North Africa are handled by:

Office of Near East
Tel: (202) 482-1860; Fax: (202) 482-0878
Web site: www.mac.doc.gov/tcc

The Country Desk Officers for this region are:

David Guglielmi
Tel: (202) 482-1860; Fax: (202) 482-0878
Email: guglielmi@usita.gov

Cherie Loustaunau
Tel: (202) 482-1860; Fax: (202) 482-0878

Thomas Sams
Tel: (202) 482-1860; Fax: (202) 482-0878
Email: sams@usita.gov

Paul Thanos
Tel: (202) 482-1860; Fax: (202) 482-0878
Email: thanos@usita.gov

The countries in the Near East and North Africa and their desk officer assignments are:

Algeria (David Guglielmi)

• Bahrain (David Guglielmi)
• Egypt (Thomas Sams)
• Iran (Paul Thanos)
• Iraq (Thomas Sams)
• Israel (Paul Thanos)
• Jordan (Paul Thanos)
• Kuwait (Cherie Loustaunau)
• Lebanon (Thomas Sams)
• Libya (David Gugliemi)
• Morocco (David Gugliemi)
• Oman (Cherie Loustaunau)
• Qatar (Cherie Loustaunau)
• Saudi Arabia (David Guglielmi)
• Syria (Thomas Sams)
• Tunisia (David Guglielmi)
• United Arab Emirates (David Guglielmi)
• West Bank/Gaza Strip (Paul Thanos)
• Yemen (Cherie Loustaunau)

D. Asi