Orchid Trade Terms Rules

 

Definitions:
 
 
Commercial Invoice: A bill of goods from the seller to the buyer. These invoices are often used by governments to determine the true value of goods for the assessment of customs duties. 
 
Straight Bill of Lading (Shipping): A non-negotiable 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. 
 
 Bill of Lading: A bill of lading is both a receipt for merchandise and a contract to deliver it as freight. 
 
 Air Waybill (Airbill): A form of bill of lading used for the air transport of goods and is not negotiable. A shipping document used by the airlines for air freight. It is a contract for carriage that includes carrier conditions of carriage. Also contains shipping instructions to airlines, a description of the commodity and applicable transportation charges. Air Waybills are not negotiable. 
 
 CITES: Convention of International Trade of Endangered Species. A necessary shipping document included with each shipment specifying each orchids classification according to CITES. All commercial orchids sold must be artificially propagated. This document is proof of that claim. 
 
 Phytosanitary: Also known as a Phyto orPhytosanitary Inspection Certificate. A document issued by the export countries government to satisfy import regulations of the import government, indicating that the shipment has been inspected and is free from harmful pests and plant diseases. 
 
 Packing List: 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. 
 
 Pro-Forma Invoice: An invoice provided by a supplier prior to the shipment of merchandise informing the buyer of the kinds and quantities of goods to be sent, their value, and important specifications (weight, size, and similar characteristics).
 
 Certificate of Origin: A signed statement required by certain nations as to the origin of an Export item. A certificate may be required even though the commercial invoice contains the information. It is often required by customs officials of a country as part of the entry process. 
 
 Irrevocable Letter of Credit: A Letter of Credit that obligates the issuing bank to pay the Exporter when all terms and conditions have been met. None of the terms and conditions may be changed without the consent of all parties to the letter of credit. 
 
 Purchase Order: A purchaser’s written offer to a supplier formally stating all terms and conditions of a proposed transaction. 
 
 Irrevocable Corporate Purchase Order: A purchase order completed by the buyer on corporate letterhead that indicates the type and quantity of products being ordered from a supplier. 
 
 Request for Quotation: Negotiating approach whereby the buyer asks for a price quotation from a potential seller for a specific quantities of goods. 
 
 Cyber Payments: Part of electronic commerce over the World Wide Web and computer to computer transactions, point-of-sale and other networks – the ability to purchase goods and services electronically, over the Internet, from around the world at any time of day or night. 
 
 Entrepot: An intermediary storage facility where goods are kept temporarily for distribution within a country or for re-export. 
 
 Sea Cargo Agent: An agent appointed by an airline or shipping line to solicit and process international air and ocean freight for shipments. 
 
 Import License: A document required and issued by some national governments authorizing the importation of goods. 
 
 Gross Weight: The full weight of a shipment, including goods and packaging. 
 
 Volume Weight: A rate applicable in connection with a specified volume of freight. 
 
 Freight Forwarder (see also Sea Cargo Agent): An independent business that handles export shipments for compensation. At the request of the shipper, the forwarder makes the actual arrangements and provides the necessary services for expediting the shipment to its overseas destination. 
 
 Quarantine: The term during which an arriving ship or airplane, including its passengers, crew and cargo, suspected of carrying a contagious disease, is held in isolation to prevent the possible spread of the disease. (b), the place where a ship, airplane, individual or cargo is detained during quarantine. 
 
 F.O.B.: Free on Board. At a named port of export, the seller quotes the buyer a price that covers all costs up to and including delivery of goods aboard a vessel at a port. FOB is also a method of export valuation. 
 
 F.O.B. Airport: The seller’s obligation to deliver the goods to the air carrier at the airport of departure. The risk of loss of or damage to the goods is transferred from the seller to the buyer when the goods have been so delivered. 
 
 C&F: Cost and Freight. A seller’s price quote for goods to a named overseas port of import that includes the cost of transportation to the named point of debarkation. Also, a method of import valuation that includes insurance and freight charges with the merchandise values. 
 
 

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