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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. |
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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. |
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Bill of Lading:
A bill of lading is both a receipt for
merchandise and a contract to deliver it as
freight. |
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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. |
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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.
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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. |
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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. |
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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). |
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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. |
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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. |
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Purchase Order:
A purchaser’s written offer to a
supplier formally stating all terms and
conditions of a proposed transaction. |
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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. |
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Request for Quotation:
Negotiating approach whereby the buyer asks
for a price quotation from a potential seller for
a specific quantities of goods. |
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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. |
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Entrepot:
An intermediary storage facility where goods
are kept temporarily for distribution within a
country or for re-export. |
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Sea Cargo Agent:
An agent appointed by an airline or shipping
line to solicit and process international air and
ocean freight for shipments. |
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Import License:
A document required and issued by some
national governments authorizing the importation
of goods. |
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Gross Weight:
The full weight of a shipment, including
goods and packaging. |
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Volume Weight:
A rate applicable in connection with a
specified volume of freight. |
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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. |
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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. |
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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. |
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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. |
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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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ABI:
Automated Broker Interface (U.S. Customs).
ABI, a part of U.S. Customs’ Automated
Commercial System, permits transmission of data
pertaining to merchandise bing imported into the
U.S. directly to U.S. Customs. Qualified
participants include customs brokers, importers,
etc. |
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Revolving Letter of Credit:
A document credit issued by a financial
institution authorizing continuous drawing to be
made over a specified period of time. |
