Dictionary of Trade Terms 2


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This Dictionary of Trade Terms
was created to help traders communicate with Chinese Suppliers to help alliviate problems that may arise from
communicating with someone
from another culture, who speaks another language and is
thousands of miles away.

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Dictionary of Trade Terms 2

  1. 1. Negotiating with suppliers isnever an easy task. Add to thatthe problems that may arise fromcommunicating with someonefrom another culture, speaksanother language and arethousands of miles away, it’s nowonder so many traders find itdifficult to negotiate with Chinesesuppliers.This Dictionary of Trade Termswas created to help traders likeyourself, smoothencommunications.
  2. 2. Words like ‘warranty’ and ‘guarantee’ can sound similar in English, and confusing to non-English speakers, so you’ll want to be extra careful you and your counterpart are onthe same page. Whenever referring to a technical term or trading jargon, it is always better to be safe and input the Chinese translation as well. A AD Valorem Equivalent 从价当量 The duty collected under a specific tariff or a compound tariff expressed as a percentage of the value of the imported item. The specific tariff is calculated on the basis of units of volume or weight, rather than value. AD Valorem Tariff 从价关税 A tariff calculated "according to value," or as a percentage of the value of goods cleared through customs; for example, 10% ad valorem means 10% percent of the value of the entered merchandise AF 预付运费 Advance Freight (before shipment) Air Freight 航空运费 Usually Air Freight is charged at the same rate irrespective of the class of goods. There are charged in any one of three ways: weight, volume or value and usual method of quotation is airport to airport. Airway Bill 空运单 The Airway Bill replaced the previously known air consignment note, and it fulfils virtually the same function for Air Freight as the Bill of Lading does for Sea Freight. It contains information about the consignment and, by law, is required to be made out by the consignor or his agent. All Risks 综合险 This is an insurance term and the “All Risks” insurance will normally cover against all risks of whatever nature provided that they are risks and not certainties. ATA Carnet 商会通行证 An ATA Carnet is issued by an authorized Chamber of Commerce to allow temporary export and subsequent re- import of professional equipment, commercial samples and goods for exhibition or trade fairs without payment of customs duty on deposit of a bond. Authority to Pay 委会支付 A document comparable to a revocable letter of credit but under whose terms the authority to pay the seller stems from the buyer rather than from a bank. AWB 运单 An individually numbered Contract of Airfreight for a single air shipment by the International Air Transport Association (I.A.T.A) rules.© 2010 – Dictionary of Trade Terms - Page 2
  3. 3. B Back Freight 退货运费 The freight costs involved on returning the shipment to the Sender, when the Importer refuses to accept the goods. Bill 账单 A document giving evidence of indebtedness of one party to another, as, for example, a written order for goods that can be used as security for a loan to the supplier of the goods from a bank, or a security such as a Treasury bill. Bill Of Exchange 汇票 A writing binding the signer or signers to pay a certain sum at a future day or on demand, with or without interest, as may be stated in the document. The Bill of Exchange looks something like a cheque which is drawn on an overseas buyer, or even on a third party as designated in the export contact, for the sum agreed as settlement. An exporter can send a Bill of Exchange for the value of goods for export through the banking system for payment by an overseas buyer on presentation. The Bill is called a sight draft if it is made out payable at sight, ie “on demand”. If it is payable “at a fixed or determinable future time” it is called a term draft, because the buyer is receiving a period of credit, known as the tenor of the Bill. The buyer signifies and agreement to pay on the due date by writing an acceptance across the face of the Bill. Bill Of Exchange – 90 天汇票 A Bill of Exchange which is payable ninety days after acceptance or ninety days after sight, whichever is marked on Ninety Days the face of the Bill. Bill Of Lading (B/L) 提货单 The Bill of Lading is common when goods are shipped by sea or where goods are packed in a container. The Bill of Lading serves three main purposes. It acts as evidence that there is a contract between either the exporter or importer and a chipping company to transport the goods by sea. It is a receipt for goods shipped and provides certain details as to their condition when placed on board. It is also a document of title, which means that the company named on the B/L has the right to possess the goods. A transfer of title on the B/L will transfer the ownership. This element of the B/L is vital to the payment arrangements for the goods. Bills of Lading are made out in sets of two or three originals; any one of them gives title to the goods.© 2010 – Dictionary of Trade Terms - Page 3
  4. 4. Bill of Lading – Trans- 转运提单 This Bill is different from a standard Bill of Lading because it names intermediate ports as well as the final port. Shipment Some times may give the name of the subsequent vessel that will carry out the next part of the journey. Blacklist Certificates 黑名单证书 Blacklist Certificates provide evidence that the goods did not originate in, nor were transported via, blacklisted countries or by blacklisted vessels. Bond 债券 An interest-bearing certificate issued by a government or a business promising to pay the holder a specified sum on a specified date. A bond is a common means of raising capital. Bonded Goods 保税货物 Imported goods stored in a bonded warehouse, usually after the owners of the goods have deposited a bond guaranteeing that the duty will be paid when and if the goods are withdrawn for domestic sale. Bonded Warehouse 保税仓库 A secure storage area in which goods subject to excise taxes or customs duties are stored pending payment of taxes or duties. Border Tax 国境税调整 The remission of indirect taxes on exported goods, including sales taxes and value-added taxes, designed to ensure Adjustments that national tax systems do not impede exports, and the imposition of domestic taxes on imported goods, to ensure that they do not receive preferential treatment as compared with domestically produced goods. Break Bulk 散装 Loose, non-containerised cargo imported in bulk, usually because of size or weight considerations (such as raw materials or oversized machinery). These shipments are often separated into individual lots and routed to different destinations and/or importers. Bridging Credit 桥接信用 Borrowing ahead of receiving payment for a sale, or short-term credit to a customer pending his or her receipt of funds from another source. Buffer Stocks 调节性库存储备 Commodity stockpiles managed in such a way as to moderate price fluctuations. Goods may be sold from a stockpile when prices reach or approach predetermined ceiling prices, and they may be purchased for the stockpile when prices reach or approach predetermined floor levels. Rubber and cocoa are among the commodities considered most likely to benefit from buffer stocks, and international commodity agreements exist for both of these products. Bulk Carrier 散装货轮 A transporter is usually an ocean-going vessel of large, heavy cargoes. "Dry" cargoes are usually mineral ores such as phosphates or manganese. Buying Agent 采购代理 An agent who buys in this country for foreign importers, especially for such large foreign users as mines, railroads, governments, and public utilities. Synonymous with "purchasing agent."© 2010 – Dictionary of Trade Terms - Page 4
  5. 5. C Capital Goods 资本货物 Industrial products or other goods that are used in the creation of additional wealth, such as machine tools. Capital goods are sometimes called intermediate goods or producer goods, because they are used to produce other goods. Cargo Sharing 货载分摊 The reservation and division of maritime traffic between designated trading partners who agree that vessels owned or controlled by either will carry a specified percentage of the cargo moving between them. Carrier 运输公司 A transportation line that hauls cargo. Cartel 企业联合 An alliance or arrangement among industrial, commercial, or state-controlled enterprises producing the same commodity, aimed at regulating the purchase, production, or marketing of the commodity. CWO (Cash With Order) 定货付现 A payment in advance. Cash With Order usually used for small orders with new buyers and may even be asked for before production begins. COD (Cash On Delivery) 货到付款 Where small value goods are sent by Post Office Parcel or a courier and are released only after payment of the invoice plus COD charges. Certificate of Free Sale 自由销售证书 A certificate, required by some foreign governments, stating that the goods for export, if products under the jurisdiction of the U.S. Federal Food and Drug Administration, are acceptable for sale in the United States, i.e., that the products are sold freely, without restriction. FDA will issue shippers a "letter of comment" to satisfy foreign requests or regulations. Certificate Of Health 健康证明书 Certificates of Health or health Inspection may be required by an overseas buyer or by the authorities in the buyer’s country. Certificate of Inspection 检验证书 A document in which certification is made as to the good condition of the merchandise immediately prior to shipment. The buyer usually designates the inspecting organization, usually an independent inspection firm or government body.© 2010 – Dictionary of Trade Terms - Page 5
  6. 6. Certificate Of Insurance 保险单 A document prepared by the exporter or the freight forwarder to provide evidence that insurance against loss or damage has been obtained for the goods to be exported. A Certificate of Insurance has no legal standing, banks will usually insist on seeing the insurance policy, which is a legal document, rather than a certificate. Certificate of 制造证书 A statement by a producer, sometimes notarized, which certifies that manufacture has been completed and that Manufacture the goods are at the disposal of the buyer. Certificate Of Origin 原产地证书 A standard document that certifies the country where the product was made. A Certificate of Origin is sometimes required by the importing country’s authorities to prove that the goods originate from a particular country. This may be necessary to enable an importer to claim preferential import duty. Certificate Of Shipment 装运证书 Used when trans-shipment takes place, although a Bill of Lading has been issued for the first part of the journey, a separate certificate of shipment is issued for the next part of the journey in a separate vessel. Certificate Invoice 认证发票 It is an invoice provided by an authorized Chamber of Commerce, some nations will require commercial invoices to be legalized by the buying nation’s consulate before the goods can enter the country. CET or CXT (Common 共同对外关税 A tariff rate uniformly applied by a common market or customs union, such as the European Community, to imports External Tariff) from countries outside the union. CFR or C&F (Cost and 成本加运费 An international commercial term used in international sales contracts to signify that the seller must pay the cost Freight) and freight necessary to bring goods to a port of destination, but that the risk of loss or damage passes from the seller to the buyer when the goods pass the ships rail in the port of shipment. CFS (Container Freight 集装箱货运站 Where numerous of shipments are gathered prior to shipment. Station) Ch Fwd 运费由收货人货到自付 Charges forward Ch Pd 运费已付 Charges Paid CIF (Costs, Insurance 到岸价 An international commercial term used in international sales contracts, meaning that the selling price includes all and Freight) cost insurance and freight for any goods sold. The seller arranges and pays for all relevant expenses involved in shipping goods from their point of exportation to a given point of importation.© 2010 – Dictionary of Trade Terms - Page 6
  7. 7. CIP (Carriage and 运费加保险费 An international commercial term that is used in international sales contracts to impose the same obligations on the Insurance Paid) seller as "carriage paid to" (CPT), with the exception that the seller is also responsible for contracting and paying for cargo insurance. Hence, in addition to this obligation, the seller will clear for export and pay the freight and all costs incurred for the carriage of goods to a destination named by the buyer. The risk of loss or damage passes to the buyer when the goods are delivered to the carrier. Clean Bill Of Lading 清洁提单 A Clean Bill of Lading is one, which has no superimposed clause or statement declaring a defect in the condition of the exported goods or the packaging, or some other aspect of the consignment. Commercial Invoice 商业发票 A document prepared by the exporter or freight forwarder, and required by the importer to prove ownership and arrange for payment to the exporter. It should include basic information about the transaction such as a description of the goods, address of the shipper and seller as well as delivery and payment terms. In some cases, the commercial invoice is used to assess Customs duties. Commercial Paper 商业票据 Short-term financial instruments that can be bought and sold, particularly promissory notes that call for the payment of specified amounts of money at a given time. CMR Note 公路货运文件 A consignment note for movements by road transport. CMR (Convention 公路货运公约 Individually numbered Contract of Affreightment for international road shipments. Merchandises Routiers) Collection Papers 托收文件 The documents submitted, usually with a draft or against a letter of credit, for payment of an export shipment. Confirmed Letter of 保兑信用证 See Letter of Credit Credit Consul Invoice 领事发票 An invoice which is approved and certified by the Consulate of the Country of destination, in their office in the Country of Origin. Cover Note 保险证明 A document, usually issued by an insurance broker to the exporter, showing details of the insurance effected. CPA (Insurance Claims 海外保险理赔 Payable Abroad) CIM 铁路货运公约 Individually numbered Contract of Affreightment for international dispatched by rail.© 2010 – Dictionary of Trade Terms - Page 7
  8. 8. CPC (Customs 海关程序 Identifies the procedure by which the Customs will process the goods. Procedure Cods) C/nee (Consignee) 收货人 The person, firm, or representative, to whom a seller or shipper sends merchandise and who, upon presentation of the necessary documents, is recognized as the owner of the merchandise for the purpose of the payment of customs duties. This term is also used as applying to one to whom goods are shipped, usually at the shippers risk, when an outright sale has not been made. See "Consignment." Consignment 寄售 A term pertaining to merchandise shipped to a consignee abroad when an actual purchase has not been made, under an agreement by which the consignee is obligated to sell the goods for the account of the consignor, and to remit proceeds as goods are sold. Credit Risk Insurance 信贷风险保险 A form of insurance which protects the seller against loss due to default on the part of the buyer. See "FCIA." CRN (Customs 海关注册号码 A unique which identifies an Exporter or Importer to Customs. Registered Number) CT for EU (Community 货物在欧盟内过境 Goods moving within the EU Community. Transit) CTC (Community Tariff 关税代码 The unique commodity code number allocated to a specific product. If no CTC exists for your goods, then one can Code) apply to Customs for a ruling, thereby creating a new code number. Container 集装箱 A special constructed metal box for shipment of goods by sea, usually either 20 or 40 foot long. Currency Fluctuations 币值波动 Changes in the value of one currency relative to another. An exporter can protect against loss caused by fluctuating currencies during the sales contract period by taking out a forward exchange contract with a bank. The exporter, invoicing a buyer in a foreign currency for payment at an agreed future date, sells those expected receipts to a bank in advance (ie forward) of the due date of payment. The bank agrees to buy at a pre-determined forward rate of exchange which varies according to the time of future delivery, for example, one, three or six months, or longer. No money is exchanged at the time the forward contract is made, but under its terms the exporter is guaranteed a certain rate of exchange.© 2010 – Dictionary of Trade Terms - Page 8
  9. 9. Customs Bond 海关保税 A bond that, in certain circumstances, importers must post to effect the entry of imported goods. A customs bond usually must be guaranteed by an approved surety. The bond acts as a security in order to ensure the collection of duties and taxes owed on imports and to facilitate compliance with other importation requirements. Customs Invoice 海关发票 A document evidencing the value of the goods, which is then used to clear them through Customs in the country of import. In some cases, the commercial invoice may be used for this purpose. D DAF (Delivered At 边境交货 An international commercial term (Incoterm) that is used in international sales contracts to signify that the seller Frontier) must clear for export, pay for the freight, and bear all costs and risks for the carriage of goods to a named destination at a frontier but before the customs border of the adjoining country DD (Dock Dues) 码头费 Payments made for passing the goods through the dock. DDP (Delivered Duty 完税后交货 An international commercial term that is used in international sales contracts to signify the maximum obligation Paid) (just as EXW signifies the minimum obligation) on the sellers part. The seller is responsible for all risks and costs incurred to have goods delivered to a named destination. This includes the obligation to contract and pay for freight and transportation costs, unloading fees, export and import licensing fees, and other taxes. The buyer is obligated only to assist in obtaining any import license or other official authorization necessary to import the goods. DDU (Delivered Duty 未完税交货 An international commercial term that is used in international sales contracts to signify that the seller is responsible Unpaid) for all risks and costs incurred to have goods delivered to a named destination in the country of importation. This includes the obligation to contract and pay for freight and transportation costs, export licensing fees, and other taxes (unless specifically excluded in the contract). The buyer is responsible for obtaining import licensing, carrying out the customs formalities necessary for the importation of the goods, and paying any import duties on the goods. Delivered Docks 交付码头 An indication that the seller is willing to deliver the goods carriage-paid to the docks in a named port. Packing would be included in the price, but dock dues and wharfage dues would be excluded. The buyer takes responsibility from the point at which the goods are delivered to the dock. Delivery Note or Advice 送货单 A notification to a customer of the net weight, size, dimensions etc, of a consignment from an export packer or Note manufacturer.© 2010 – Dictionary of Trade Terms - Page 9
  10. 10. Delivery Order 交货单 An order signed by the owner of goods, instructing his warehouse to deliver possessions of the goods to the bearer of the order. Demurrage (storage 仓储费 The charge made for detaining a ship or failing to ship the cargo within specified days. The term is also applied to costs) the charge made for the detention of railway trucks. DEQ (Delivered Ex 码头交货 An international commercial term that is used in international sales contracts to signify that the seller is responsible Quay) for all risks and costs incurred to have the goods delivered and unloaded at a named port of destination. This includes the obligation to contract and pay for freight and transportation costs by sea or inland waterway, unloading fees, export and import licensing fees, and other taxes (unless specifically excluded in the contract). The buyer is obligated only to assist in obtaining any import license or other official authorization necessary to import the goods. DF (Dead Freight) 空舱费 When the shipper is required to pay for space book, but not used. DFZ (Duty Free Zone) 免税区 An area within a country (a seaport, airport, warehouse, or any designated area) regarded as being outside its see also (Free Zone) customs territory. Differential Export Tax 差别出口税 A multi-tier export tax usually structured so that the tax on exports of a raw material exceeds the tax (if any) on exports of processed goods made from the raw material, thereby creating an incentive to process the raw material domestically. Domestic International 国际销售公司 An export sales corporation set up by a United States company under U.S. Government authorization to promote Sales Corporation exports from the United States by giving the exporter economic advantages not available outside such (DISC) authorization. Discount 折扣 A deduction from the face value of commercial paper such as bills of exchange, in consideration of receipt of cash by the seller before maturity date. Distributor 分销商 A firm that sells directly for a manufacturer, usually on an exclusive basis for a specified territory, and which maintains an inventory on hand. Dock Receipt 码头收据 Used by an ocean carrier to acknowledge receipt of a shipment at the carriers dock or warehouse facilities. Dock Warrant 船坞仓库存货凭单 A document, representing goods warehoused at the docks, given to the owner as a recognition of his title to the goods.© 2010 – Dictionary of Trade Terms - Page 10
  11. 11. Documents Against 承兑交单 A type of payment for goods in which the documents transferring title to the goods are not given to the buyer until Acceptance (D/A) he has accepted the draft issued against him. Documents Against 付款交单 A type of payment for goods in which the documents transferring title to the goods are not given to the buyer until Payment (D/P) he has paid the value of a draft issued against him. Documentary Bill 跟单汇票 Is used when the seller of goods to a customer abroad wishes to obtain payment or some form of security before the goods are actually delivered. The seller will draw a bill on the consignee for the value of the goods, and will attach to it the copy of the invoice, the insurance policy and the Bills of Lading. These documents will be handed to his banker, who in turn will forward them to his own correspondent at the place where the consignee of the goods are at sea. When this is done, the bank will require a letter of hypothecation empowering it to sell the goods in the event of default by the consignor. Documentary Letter of 跟单信用证 A document issued by a bank which guarantees the payment of a customers drafts for a specified period and up to Credit a specified amount. The Documentary Letter of Credit provides a more secure means of carrying out transactions in import-export trade than by documentary bills collection (see Bill of Exchange). A letter of credit when transmitted through a bank, usually in the exporter’s country, becomes the means by which the exporter obtains payment. The necessary documents, correctly completed, are presented to a bank by an agreed date. If the terms of the credit are met an exporter can receive payment from a bank immediately. Double-Column Tariff 双柱关税 A tariff schedule listing two duty rates for some or all commodities. Under such arrangements, imports may be taxed at a higher or lower rate, depending upon the importing countrys trade and other relationships with the exporting country. Some British Commonwealth countries maintain a double-column tariff that provides preferential tariff treatment to other members of the commonwealth. The United States and other countries also have lower tariffs for countries to which they grant most-favored-nation treatment. Downstream Dumping 下游倾销 The practice of exporting an end-product containing an input that has been purchased at less than normal value also known as Input Dumping Draft 汇票 The same as a "bill of exchange." A written order for a certain sum of money, to be transferred on a certain date from the person who owes the money or agrees to make the payment (the drawee) to the creditor to whom the money is owed (the drawer of the draft). See "Date Draft," "Documentary Draft," "Sight Draft," "Time Draft."© 2010 – Dictionary of Trade Terms - Page 11
  12. 12. Drawback 退税 Import duties or taxes repaid by a government, in whole or in part, when the imported goods are re-exported or used in the manufacture of exported goods Dual Pricing 双重价格 Selling identical products for different prices in different markets. Dual pricing often reflects export subsidy and dumping practices. Duty 关税 Duty Suspension 暂缓关税 A unilateral non-application of a customs duty, or its application at a reduced level, usually on a temporary basis. E ECI (Export 出口货物标识 Composed of the CRN plus a commercial reference number, which could be the commercial invoice number. Consignment Identifier) EMC 出口管理公司 Export Management Company. A firm which acts as local export sales agent for several non-competing manufacturers. (Term synonymous with "Manufacturers Export Agent.") ETC 进出口贸易公司 Export Trading Company Embargo 禁运 In international trade, government actions limiting or prohibiting imports and/or exports of goods and/or services from or to a country. Such limitations may be applied by the embargoing country against its own nationals, such as the United States embargo against trade from Cuba, or in concert with other countries against a third country, such as the 1990 United Nations embargo against trade in any form with Iraq or the earlier UN embargo against trade with South Africa. Embargoes may also be applied just against trade in certain products regardless of origin, such as the ban on trade in ivory. Export 出口 To send goods to a foreign country or overseas territory. Export Broker 出口代理 One who brings together the exporter and importer for a fee and then withdraws from the transaction. ETA 预计到达时间 Estimated Time of Arrival© 2010 – Dictionary of Trade Terms - Page 12
  13. 13. Export License 出口许可证 A governmental permit required to export certain products to certain destinations. ETD 预计发送时间 Estimated Time of Dispatch Excise Tax 消费税 A selective tax — sometimes called a consumption tax — on certain goods produced within or imported into a country. Exchange Permit 交易许可证 A governmental permit sometimes required of an importer to enable him to convert his own countrys currency into a foreign currency with which to pay a seller in another country. Expiration Date 截止日期 The final date upon which the presentation of documents and drawing of drafts under a letter of credit may be made. Export Merchants 进出口商 Export Merchants buy goods direct from an exporter in their own home market for sale abroad. For the manufacturer the transaction is almost the same as selling in the home market as the export merchants are responsible for promoting the goods to overseas buyers. Ex (Point of Origin) 不包括 A pricing term under which the sellers only responsibility is to clear the goods for export and make them available to the buyer at an agreed upon location (factory, warehouse, ship, etc.). The buyer then bears the full cost and risk involved in transporting the goods to his desired location. Other terms used are "Ex Works," Ex Ship," and "Ex Quay." Exchange Regulations/ 外汇限制 Restrictions imposed by an importing country to protect its foreign exchange reserves. See "Exchange Permit." Restrictions ECGF (Export Credit 出口信贷担保办法 A scheme developed in the United Nations Conference on Trade and Development that would enable developing Guarantee Facility) country exporters to refinance their export credits extended to importers in other countries under an international guarantee. Export Credit 出口信用保险 Insurance designed to guarantee that an exporter will be paid for his/her goods after delivery. If the exporter has Insurance such insurance, responsibility for collecting payment from the company that imports the goods in another country, or the companys agent, rests with the underwriter of the export credit insurance. Export Quotas 出口配额 A specific restrictions or ceilings imposed by an exporting country on the value or volume of certain exports to protect domestic producers and consumers from temporary shortages of the goods affected or to bolster their prices in world markets. Some international commodity agreements explicitly indicate when producers should apply such restraints. Export quotas are also often applied in orderly marketing agreements and voluntary restraint agreements, and to promote domestic processing of raw materials in countries that produce them.© 2010 – Dictionary of Trade Terms - Page 13
  14. 14. Export Restraints 出口限制 A quantitative restrictions imposed by exporting countries to limit exports to specified foreign markets, usually pursuant to a formal or informal agreement concluded at the request of the importing countries. EXW (Ex Works) 工厂交货 An international commercial term that is used in international sales contracts to signify a sellers obligation to make the goods available to a buyer only at the sellers premises (that is, works, factory, warehouse, and the like). Thus, the seller is not responsible for loading, shipping, export clearance, etc. unless otherwise agreed. All costs, risks, and obligations incurred from moving the goods from the sellers premises to the buyers destination are borne by the buyer. F Factor 代理人 A mercantile agent entrusted with the possession of goods for the purpose of selling them for his principal. Such an agent may deal with the goods in his own name. FAK (Freight All Kinds) 各种运费 Describes an airfreight rate, when no special Commodity Rate is available. FAS (Free Alongside 船边交货 An international commercial term that is used in sales contracts to signify a sellers obligation to pay the costs and Ship) assume all risks for transporting goods from his or her place of business to the point of embarkation where a vessel or plane selected by the buyer will accept the goods. FCA (Free Carrier) 承运人 An international commercial term that is used in international sales contracts to signify that a seller must deliver goods sold, cleared for export, to a carrier or freight forwarder specified by the buyer. The seller has no obligation with respect to import licensing or insurance. FCL 集装箱整箱 Full Container Load FCR 货代收据 Forwarder’s Certificate of Receipt FIATA 国际运输协会联合会 International Federation of Freight Forwarders Association Floating Insurance 浮动保险政策 A Floating Insurance Policy gives the regular overseas trader insurance in advance for all his shipments for some Policy period ahead; the length of the period will depend on the shipments made from time to time under the policy and on the sum insured.© 2010 – Dictionary of Trade Terms - Page 14
  15. 15. FOT 敞车上交货 See FOB FOR 火车上交货 See FOB FOB (Free On Board) 离岸价 An international commercial term used in international sales contracts. In an FOB contract, a buyer and a seller agree on a designated FOB point. The seller assumes the cost of having goods packaged and ready for shipment from the FOB point, whether this is his/her own place of business or some intermediate point. The buyer assumes the costs and risks from the FOB point, including inland transportation costs and risks in the exporting country, as well as all subsequent transportation costs, including the costs of loading the merchandise on a vessel. If the contract stipulates "FOB vessel," the seller bears all transportation costs to the vessel named by the buyer, as well as the costs of loading the goods on that vessel. The same principle applies to the abbreviations "FOR" ("free on rail") and "FOT" ("free on truck"). Foul Bill of Lading 犯规提单 A receipt for goods issued by a carrier bearing a notation that the outward containers or goods have been damaged. Force Majeure 不可抗力 Describes circumstances outside the immediate control of the Exporter or Importer, and generally defined as something which could not have been anticipated even with foresight. Forward Market 远期市场 A market in which contracts for future deliveries of goods and securities on a specified date are entered into at fixed prices. The contracts themselves are popularly known as "futures." Many commodity exchanges — wool, cotton, and wheat, for example — have established forward markets that permit interested parties to hedge against changes in the prices of the raw materials they use or deal in. Franco (Free) 免费 A price quoted which is free of any other charges. Free Carrier 各式承运 This price is all costs to a named point of loading, to be transported by a carrier by road, rail, air or sea. Free Circulation 自由流通 A piece of EU terminology describing goods free to move within the EU, if they were produced in the EU, or on their originally arrival in the EU Import Duty, VAT and any other applicable duty has been paid. Free Domicile 无固定住所 This price is all costs including insurance and transport of delivery to the overseas buyer’s address. Free List 可免税的货物名单 A list of goods not subject to import duties or import-licensing requirements in a particular country. FOB (Free On Board) 离岸价 This price is all costs of the goods loaded on board a ship whose destination is stated in the commercial contract.© 2010 – Dictionary of Trade Terms - Page 15
  16. 16. Free Trade 自由贸易 A theoretical concept that assumes international trade unhampered by government measures such as tariffs or non- tariff barriers. The objective of trade liberalization is to achieve "freer trade" rather than "free trade," it being generally recognized among trade policy officials that some restrictions on trade are likely to remain in effect for the foreseeable future. Free Zone / Free Port 免税区/自由贸易区 An area within a country (a seaport, airport, warehouse, or any designated area) regarded as being outside its customs territory. Importers may therefore bring goods of foreign origin into such an area without paying customs duties and taxes, pending their eventual processing, transshipment, or re-exportation. Free zones were numerous and prosperous during an earlier period when tariffs were high. Some still exist in capital cities, transport junctions, and major seaports, but their number and prominence have declined as tariffs have fallen in recent years. Free zones may also be known as "free ports," "free warehouses," "free trade zones," and "foreign trade zones." Freight Carriage (paid 运费在内 Like C&F "Freight Carriage paid to..." means that the seller pays the freight for the carriage of the goods to the to) named destination. However, the risk of loss of or damage to the goods, as well as the risk of any cost increases, is transferred from the seller to the buyer when the goods have been delivered into the custody of the first carrier and not at the ships rail. Freight Carriage (and 运费和保险在内 Like "Freight or Carriage paid to..." but with the addition that the seller has to procure transport insurance against insurance paid to) the risk of loss of or damage to the goods during the carriage. The seller contracts with the insurer and pays the insurance premium. Freight Forward 运费由提货方支付 When goods are sent freight forward, the airline, shipping company, haulier collects the freight costs from the consignee before parting with the cargo. He will usually have a lien on the cargo for the cost of the freight. Freight Forwarder 货运代理 A person hired to move shipments from a foreign location to a domestic location, or a portion of the way. Freight forwarders handle many of the formalities involved in importing such shipments. A forwarder will also advise on suitable packing for the particular journey or commodity. He can prepare the various documents required for the different countries, giving advice on those, which the exporter must by law prepare himself. Freight forwarders are often called clearing agents or act as a clearing agent when dealing in imports.© 2010 – Dictionary of Trade Terms - Page 16
  17. 17. G General Average 共同海损 A term applied to insurance policies, and more correctly defined as “general average loss”. This is a loss caused by, or directly consequential on, a General Average Act. A General Average Act consists in an extraordinary sacrifice or expenditure which is (a) voluntarily and reasonably made or incurred, (b) in time of imminent peril, (c) for the purpose of preserving the property imperiled in the common adventure. In practical terms, this means that if a ship, then all other shippers who have cargo on that vessel will bear the loss proportionately. GATT 关贸总协定 The General Agreements on Tariffs and Trade is a multilateral trade treaty among governments, embodying rights and obligations. The detailed rules set out in the Agreement constitute a code which the parties to the Agreement have agreed upon to govern their trading relationships. General License 一般许可证 Government authorization to export without specific documentary approval. General Tariff 一般关税 A tariff that applies to imports from countries that do not enjoy either preferential or most-favoured-nation tariff treatment. Where the general tariff rate differs from the most-favoured-nation rate, the general tariff is usually an older and higher rate. GCR (General Cargo 一般货物运价 As distinct from a rate applicable to a specific commodity. Rate) Gr Wt (Gross Weight) 毛重 Total weight of goods, packing, and container, ready for shipment. GSP (General System of 一般特惠制 Under which goods from certain countries are given preferential rates of import duty. Preferences)© 2010 – Dictionary of Trade Terms - Page 17
  18. 18. H HAWB 小提单 House Air Way Bill, individually numbered, identifies a particular shipment within an Airfreight Consolidation movement. The Consol itself being covered by a single MAWB – Maser Air Way Bill fro identification purposes. Handling Charges 装卸费 The forwarders fee to his shipper client. Hedge/ Hedging 套期保值 An action taken by a buyer or seller to protect his or her business or assets against a change in prices. A miller, for example, might buy a quantity of wheat to convert into flour at a given point in time and agree at the same time to sell a similar quantity of wheat that he does not own, at the same price, for delivery at a designated future point in time. If the price of wheat falls, he will lose on the flour while making a profit on the wheat he can later buy at the lower price. But if the price of wheat rises, he will make an extra profit on his flour, which he will have to sacrifice by purchasing wheat at the current high price. In either case, his production profits are protected. HS (Harmonised 产品分类系统 A complete product classification system, formally known as the Harmonized Commodity Description and Coding System) System, that is organized in a particular framework and that employs a numbering or coding system consistent with its organizational arrangement. At the international level, the HS comprises approximately 5,000 article descriptions that appear as headings and subheadings, arranged in 97 chapters grouped in 21 sections. Hypothecation 担保契约 The pledging of property to secure a debt, without giving up possession of such property.© 2010 – Dictionary of Trade Terms - Page 18
  19. 19. I I.A.T.A. 国际航空运输协会 International Air Transport Association ICC 国际商会 International Chamber of Commerce Import 进口 To bring merchandise into a country from another country or overseas territory. Import Substitution 进口替代 An attempt by a country to reduce imports (and hence foreign exchange expenditures) by encouraging the development of domestic industries regardless of domestic inefficiencies. Import License 进口许可证 A governmental document which permits the importation of a product or material into a country where such licenses are necessary. In Bond 在关栈中 A term applied to the status of merchandise admitted provisionally into a country without payment of duties. See "Bonded Warehouse." Incoterms 国际贸易术语解释通则 Incoterms are a uniform set of international rules, promulgated by the International Chamber of Commerce in Paris, (International for the interpretation of the terms most commonly used in international contracts for the sale of goods. Incoterms Commercial Terms) define the obligations of buyer and seller at every stage of an international sale of goods transaction. The Incoterms were first issued in 1953; they were last revised effective January 1, 2000. Indent 定单 An indent is merely an order. Thus, an indent number refers to the order number.© 2010 – Dictionary of Trade Terms - Page 19
  20. 20. Insurance 保险 An agreement or contract (commonly called a policy) between the insured, who pays a premium, and the insurer, who in return promises to compensate the insured if he suffers specified losses. It is important to have insurance cover against loss or damage which may occur during shipment. The contract with the supplier should clearly state who is responsible for arranging the insurance at all stages from the time the merchandise leaves the supplier’s premises until the buyer takes possession of the goods. The stages to be covered include:  Transportation of the goods to the docks or the airport  Time during which they are stored awaiting shipment or loading  Periods whilst on board the ship, aircraft or conveyance  Off-loading and storage on arrival in destination.  Transportation to the buyers premises. It is advisable for an importer to buy goods on FCA, FAS or FOB terms in order that he can arrange the insurance in his own country. Insurance, particularly marine insurance, is a complicated subject, and it is advisable to get a professional insurance broker to arrange cover for your shipment. Insurance Certificate 保险凭证 A document prepared by the exporter or the freight forwarder to provide evidence that insurance against loss or damage has been obtained for the goods to be exported. Invisible Trade 无形贸易 Items such as freight, insurance, and financial services that, are included in a countrys balance-of-payments accounts (in the "current" account), even though they are not recorded as physically visible exports and imports. Inherent Vice 固有缺陷 Defects or characteristics of a product that could lead to deterioration without outside influence. An insurance term. See "All Risk Clause." Irrevocable Letter of 不可撤消信用证 See Letter of Credit Credit Invoice, Pro Forma 发票 An invoice sent in advance of the goods, showing the exact details of the order, usually for the purpose of enabling payment documents to be raised. IRD 内陆铁路仓库 Inland Rail Depot, which is used for Customs Clearance.© 2010 – Dictionary of Trade Terms - Page 20
  21. 21. J Jettison 投弃废物 Throwing cargo overboard, if it is determined that such an action may save a vessel in peril. Joint Venture 合资企业 A commercial or industrial enterprise in which principals of one company share control and ownership with principals of another. K KD (Knocked Down) 拆卸 Merchandise that is imported complete with all parts but in an unassembled state (such as oversized machinery), usually to facilitate packing and shipping. L L/C (Letter of Credit) 信用证 A document issued by a bank which guarantees the payment of a customers drafts for a specified period and up to a specified amount. Irrevocable Letter of credit, it means that once the buyer’s conditions in the letter have been agreed by the exporter, they constitute a definite undertaking by the buyer’s bank and cannot be revoked without the exporter’s agreement. Revocable Letter of credit, it means that the terms of the credit can be cancelled or amended by an overseas buyer at any time without notice to the exporter. A confirmed letter of credit is issued by a bank abroad whose validity and terms are confirmed to the beneficiary in the United States by a U.S. bank. An irrevocable letter of credit is one which cannot be altered or cancelled once it has been negotiated between the buyer and his bank. A revocable letter of credit is one which can be altered or cancelled by the buyer after he has opened it through his bank.© 2010 – Dictionary of Trade Terms - Page 21
  22. 22. Laycan 受载期 A ship chartering term which stands for laydays commencement and cancelling, it specifies the earliest date on which laytime can commence and the latest date, after which the Charterer can opt to cancel the Charter Party Agreement. Laytime 装卸货时间 The time allowed by the shipowner to the voyage charterer to carry out the cargo loading and/or discharging operations; Laytime may be expressed as a certain number of days or number of tons of cargo loaded/unloaded per day. LCL 拼箱 A seafreight expression which describes cargo amount to less than a full container load. Legal Weight 实重 The weight of goods plus any immediate wrappings which are sold along with the goods; e.g., the weight of a tin can together with its contents. See "Net Weight." Levy, as a verb 征收 To assess or impose a tariff on imported merchandise; as a noun, the charge on imports. Liberal 自由贸易的 When referring to trade policy, relatively free of import controls or restraints and/or exhibiting a preference for reducing existing barriers to trade, often contrasted with the protectionist preference for retaining or raising selected barriers to imports. Liberalisation 自由化 Unilateral or multilateral reductions in tariffs and other measures that restrict trade. Trade liberalization has been the objective of all rounds of the GATT trade negotiations LIBOR (London 伦敦银行同业拆借利率 Is the rate of interest at which banks borrow funds from other banks, in marketable size, in the London interbank Interbank Offered market. Rate) Lien 留置权 A general lien is the right, which arises by contract to retain goods until any sum due in respect of them is paid and also in respect of any sum which may be owing by the owner to the person in possession. Lighterage 驳运费 It is the cost of a smaller vessel or barge for moving the goods ashore (in a case of a ship not being able to tie up to a quay). Linear Reduction of 线性降低关税 A reduction by a given percentage in all tariffs maintained by countries participating in a round of trade Tariffs negotiations, with or without exceptions for products deemed to be "sensitive." It is sometimes called "horizontal reduction of tariffs," "across-the-board reduction of tariffs," or "equal percentage reduction of tariffs."© 2010 – Dictionary of Trade Terms - Page 22
  23. 23. LLDCs or LDCs (Least 最不发达国家 Some 48 of the worlds poorest countries, considered by the United Nations to be the "least developed" of the less Developed Countries) developed countries. LO/LO 装卸费用 The cost of using a crane to lift goods onto, or off a ship. Loco (Within The Area 本地 The word “loco” is always used in conjunction with a defined town or area. For example, “free delivery loco Of) Sydney” would mean that goods will be delivered free within the area of Sydney, and that an additional charge would be made for any delivery outside the area. Logistics Intermediary 物流中介 A person who consolidates several small shipments from various sources into a larger shipment, usually up to a full truck, car, or container load. Logistics Provider 物流供应商 A person who acts as an agent on behalf of the shipper LTL (Less-Than-Load 低于负载发货 A shipment that has not been loaded to capacity for the particular container type or shipping method. Shipments) M Manifest 载货单 A document signed by the Master of a ship specifying the ship and describing the goods loaded therein. This document must be delivered to the appropriate officer of Customs within six days after the final clearance of the ship. Margin Of Preference 保证金优惠 The difference between the duty payable under a given system of tariff preferences and the duty that would be assessed in the absence of preferences. Market Disruption 市场混乱 A situation that occurs when a surge of imports of a particular product causes a precipitous decline in sales of similar domestically produced goods. Marks 商标 A set of letters, numbers and/or geometric symbols, generally followed by the name of the port of destination, placed on packages for export for identification purposes. Mate’s Receipt 伴侣的收据 A Mate’s Receipt provides evidence of delivery of goods to a ship. It has no legal value but it serves a useful purpose and is usually surrendered against Bills of Lading.© 2010 – Dictionary of Trade Terms - Page 23
  24. 24. Maturity Date 到期日 The date upon which a draft or acceptance becomes due for payment. Most-Favored-Nation Status: All countries having this designation receive equal treatment with respect to customs and tariffs. Medium Of Exchange 交易媒介 Documentary instrument used in commercial transactions between buyers and sellers to measure the value of the goods exchanged. The value of such instruments is usually expressed in terms of a national currency. Mercantilism 重商主义 An economic philosophy prominent in the 16th and 17th centuries that equated the accumulation and possession of gold and other international monetary assets, such as foreign currency reserves, with national wealth. Although this point of view is generally discredited among 20th century economists and trade policy experts, some contemporary politicians still favour policies designed to create trade surpluses, such as import substitution and tariff protection for domestic industries, as essential to national economic strength. MFN (Most Favored 最惠国待遇 Which indicates that a specific nation will receive preferential imports duties, quotas etc. Nation Status) Min 最低 Minimum, frequently used to state the minimum freight rate which applies to a small amount of cargo. Minimum Valuation 最低估价 Customs valuation of certain low-cost items at a higher-than-actual value. Mixed Credits 混合信贷 A financing package that involves official government credit to supplement normal commercial credit, thus enabling an exporter to deliver goods to a buyer in another country on credit terms comparable to those of his competitors. Movement Certificate 原产地证书 A document used within the European Union (EU) which shows the origin of the goods. Similar to a Certificate of Origin. MRA (Mutual 相互承认协议 Agreements that generally allow conformity assessment — for example, testing, inspecting, certifying — of Recognition manufactured goods to be performed in the United States to another countrys standards and regulations, and vice Agreement) versa. An MRA can save manufacturers time and expense by avoiding excessive assessments. It also conserves U.S. regulatory agencies resources. The United States maintains its current high health and safety standards and can adopt even higher standards without in any way violating an MRA. Multilateral Aid 多边援助 Development assistance given by donors to recipient countries through international institutions Mutatis Mutandis 已作必要修正 Latin phrase signifying "the necessary changes having been made"; "substituting new terms." MV (Motor Vessel) 马达船© 2010 – Dictionary of Trade Terms - Page 24
  25. 25. N NCV (No Commercial 无商业价值 Often used in Import Customs Entries to describe samples etc. However, in reality Customs tend not to accept that Value) an item has no value. This can be overcome by indicating a notional value, say $1.00. Negotiation Credit 议付信用证 A letter given by a bank advising a manufacturer or seller that the bank is authorized to accept and negotiate drafts drawn on a specified customer without liability on the part of the bank, usually for a stated amount and liable to withdrawal at any time. Net Weight 净重 Weight of the goods alone without any immediate wrappings; e.g., the weight of the contents of a tin can without the weight of the can. See "Legal Weight." NICs (Newly 新兴工业化国家 A term coined by the Organization for Economic Cooperation and Development to describe those relatively Industrializing advanced developing nations that have enjoyed rapid economic growth in recent years and can be described as Countries) middle-income countries. Examples include Brazil, Hong Kong, South Korea, Mexico, Singapore, and Taiwan. Newly industrializing countries are sometimes referred to as newly industrializing economies (NIEs). NME (Non-market 非市场经济 A national economy in which the government seeks to determine economic activity largely through a mechanism of Economy) central planning, as in the former Soviet Union, in contrast to a market economy, which depends heavily upon market forces to allocate productive resources. In a non-market economy, production targets, prices, costs, investment allocations, raw materials, labour, international trade, and most other economic aggregates are manipulated within a national economic plan drawn up by a central planning authority. Hence, the public sector makes the major decisions affecting demand and supply within the national economy Nomenclature of the 海关合作理事会 This was known as the "Brussels Classification Nomenclature" prior to January 1, 1975. It is the customs tariff Customs Cooperation adhered to by most European countries and many other countries throughout the world, but not by the United Council States. Nominal Tariff Rate 名义税率 The rate of duty charged on the gross value of a given product, rather than on the value of its components Non Stat 非统计 An expression used in a Custom’s Entry, when the quantity is of insufficient amount to be deemed to affect Custom’s statistics. NTBs (Non-tariff 非关税壁垒 Government measures other than tariffs that restrict imports or that have the potential for restricting international Barriers) trade, even though they may not always do so. NTBs include import monitoring systems and variable levies, as well© 2010 – Dictionary of Trade Terms - Page 25
  26. 26. as measures that are internationally perceived as trade restrictive, even though a trade-restricting intent or effect cannot objectively be ascribed to them. Such measures have become relatively more conspicuous impediments to trade as tariffs have been reduced during the period since World War II. NV (Normal Value) 正常价值 The price at which merchandise is sold or offered for sale in the principal markets of the country from which it is exported. NVOCC (Non Vessel 无船承运人 Often used to describe a major sea freight Forwarder shipping large and frequent shipments to specific ports, but Operating Carrier) does not own their own ship. O ODA (Official 官方发展援助 Economic or technical assistance extended to developing countries by the governments of developed countries and Development by international organizations, as contrasted with gifts, loans, and investments financed by the private sector. Assistance) Official development assistance is construed by the OECD Development Committee as including only "concessional" transfers to developing countries, meaning that all or part of each ODA transaction is a grant or is loaned at rate of interest and/or on repayment terms more beneficial to the recipient than market rates and terms. Offset Requirements 偏移需求 Conditions imposed on certain large exporters in other countries by importing governments, usually to reduce cash outflows, such as by requiring the exporter to purchase goods or services produced in the importing country, to establish manufacturing facilities in the country, or to use locally produced components in manufacturing. Offset requirements are frequently associated with sales of military equipment. Offshore 离岸生产 The foreign manufacture of goods by a domestic firm primarily for import into its home market. Manufacturing OMAs (Orderly 有序销售协议 International compacts negotiated between two or more governments in which the trading partners agree to Marketing restrain the growth of trade in specified "sensitive" products, usually through the imposition of export quotas. Agreements) Orderly marketing agreements are intended to ensure that future trade increases will not disrupt, threaten, or impair competitive industries or their workers in importing countries. Open Account 往来账户 Open Account offers the least security to an exporter. The goods and accompanying documents are sent directly to an overseas buyer who has agreed to pay within a certain period after the invoice date – usually not more than 180 days. The buyer undertakes to remit money to the exporter by an agreed method.© 2010 – Dictionary of Trade Terms - Page 26
  27. 27. Open Cargo Policy 开放货运政策 Open Insurance Cover, 开放货运政策 Synonymous with "Floating Policy." An insurance policy which binds the insurer automatically to protect with Open Cargo Policy insurance all shipments made by the insured from the moment the shipment leaves the initial shipping point until delivered at destination. The insuring conditions include clauses naming such risks insured against as "perils of the sea," fire, jettison, forcible theft, and barratry. OPR (Outward 外运加工 A form of export Custom’s Entry, which indicates to the Customs that the goods are being temporarily exported, Processing Relief) and that will be subsequently re-imported to the Country of Origin without the need to charge Import Duty upon their return. P Packaging, Labelling, 包装,标签和标志规章 The requirement or regulation, usually by an importing country, that imported goods be packaged, labelled, or and Marking marked according to particular guidelines. Although ostensibly required to protect consumers, non-standard Regulations packaging, labelling, and marking requirements frequently pose problems for exporters and may function as non- tariff barriers. Packing List 装箱单 A Packing List gives details of the contents of all the packages making up the consignments and is required by Custom’s authorities if the packing information is not shown on the invoice. The Packaging List is usually attached to the invoice. Par Value 面值 The official fixed exchange rate between two currencies or between a currency and a specific weight of gold or a basket of currencies. Parcel Post 邮政包裹 A valuable method of moving small units by air or sea. Parcel Ticket 包裹票 A variation on the Bill of Lading covering small consignments of limited value. Usually such goods are shipped at the liability of the seller. Particular Average 单独海损 A term used in insurance more clearly defined as a Particular Average Loss, ie a partial loss of the insured interest caused by a peril insured against and which is not a General Average Loss. The loss falls entirely on the party who has an interest in the particular goods so damaged.© 2010 – Dictionary of Trade Terms - Page 27
  28. 28. Perils of the Sea 危险海损 A marine insurance term used to designate heavy weather, stranding, lightning, collision, and sea water damage. Piggybacking 捎带 The assigning of export marketing and distribution functions by one manufacturer to another. Port Mark 到达港标志 An identity of the port of destination stenciled onto packaging cases. This will often include an indicator of the total number of packing cases in a consignment e.g. 1/12. Port Marks 到达港标志 See Marks Port Of Entry 进口港 Point at which individuals and imported goods enter a country and clear its national customs. Preferences 特别优惠 Special advantages extended by importing countries to exports from particular trading partners, usually by admitting their goods at tariff rates below those imposed on imports from other supplying countries. Premium 保险费 A regular payment paid for an insurance policy that provides protection against a risk. Price Elasticity Of 弹性价格 The percentage change in demand for a given product likely to result if its price changes by 1 percent. A slight Demand lowering or raising of a tariff will have a larger effect on the volume of imports of a product with a high price elasticity of demand than on a product with a low price elasticity of demand. Price Elasticity Of 弹性供给 The percentage change in supply for a given product likely to result if its price changes by 1 percent. Supply Primary Commodity 初级商品 A commodity in its raw or unprocessed state, such as iron ore. In contrast, pig iron is considered a semi-processed product, and a steel girder is a manufactured item. Principal Supplier 主要供应商 The country that is the most important source of a particular product imported by another country. In trade negotiations, a country offering to reduce its tariff or other barriers to imports of a particular item generally expects the country that is the principal supplier of that item to reduce restrictions on its imports of a product for which the first country is the principal supplier. Depending on the trade negotiations, both countries then may grant the same concessions to all other countries to which they accord most-favoured-nation treatment. Prior Deposits 事前存款 A deposit required by a government of a specified sum, in domestic or foreign currency, usually corresponding to a certain percentage of the value of the imported product. Such deposits are characteristically held without interest, sometimes for many months — from the time an order is placed until after the import transaction is completed — and hence represent a real cost to the importer. The purpose of prior deposits is usually to discourage imports, particularly for balance-of-payments reasons, and they generally are recognized as non-tariff barriers that impede trade. Prior deposits must usually be made at the time an import license is granted.© 2010 – Dictionary of Trade Terms - Page 28
  29. 29. Process Patent 工艺专利 A process or method that consists of an act, operation, or step or series thereof performed upon a specified subject matter to produce a physical result. Proforma Invoice 形式发票 An invoice which purports to represent what a final invoice with all attendant details will look like. PSI (Preshipment 装运前检验 To ensure that the quantity and quality of goods to be traded conform to the specifications of the sales contract. Inspection) Purchasing Power 购买力 The ability of consumers to acquire goods and services based on their possession of money and/or their recourse to credit. Aggregate purchasing power within a market or a national economy reflects total disposable income after taxes, and hence the level of employment. Q QRs (Quantitative 数量限制 Explicit limits, or quotas, on the quantity of a good that can be imported or exported during a specified time period. Restrictions) Such limits are usually measured by physical quantity but sometimes by value. A quota may be applied on a selective basis, with varying limits set according to the country of origin or destination, or on a global basis that specifies only the total limit and thus tends to benefit more efficient suppliers. Quotas are frequently administered through a system of licensing. Quarantine, Sanitary, 检疫,卫生和卫生法律 Government measures to protect consumer, animal, and plant health by regulating the use of dangerous And Health Laws And 法规 preservatives and other additives in foods. The lack of internationally accepted standards makes it difficult to Regulations distinguish between legitimate health standards and protectionist measures. Quota 配额 The total quantity of a product or commodity which may be imported into a country without restriction or the penalty of additional duties or taxes. Quotation 报价 A quotation represents the price and conditions at which a seller is prepared to supply goods.© 2010 – Dictionary of Trade Terms - Page 29
  30. 30. R Railway Consignment 铁路托运单 Railway Consignment Notes are similarly used to the Bill of Lading for transport by rail to an overseas destination. Note Rate of Exchange 汇率 The basis upon which money of one country will be exchanged for that of another. Rates of exchange are established and quoted for foreign currencies on the basis of the demand, supply, and stability of the individual currencies. Received For Shipment 收货待运提单 Received For Shipment Bill of Lading confirms that the shipping company has the goods in custody for Bill of Lading shipment. Exporters load their goods at their factory into a container provided by a transport operator. The container is transported by road or rail to the port for shipment. The Received For Shipment Bill of Lading is endorsed by the carrier on loading the goods abroad ship at the port. Reciprocity 互惠 The practice by which governments extend similar concessions to each other, as when one government lowers its tariffs or other barriers impeding its imports in exchange for equivalent concessions from a trading partner on barriers affecting its exports (a "balance of concessions"). Reinsurance 再保险 The shifting by agreement (known in the insurance industry as a "treaty") of part of the risk (or "exposure") of the original insurer (the ceding company) to another insurer (the reinsurer). Sometimes a reinsurer will, in turn, pass on part of its risk to another reinsurer through a process known as retrocession. International reinsurance is important to developed and developing countries alike. Request List 特需列表 A list submitted by a country to a trading partner at an early stage of trade negotiations identifying the concessions it seeks through the negotiations. Reserve Currency 储备货币 A national currency such as the dollar or pound sterling, or international currency such as Special Drawing Rights, used by many countries to settle debit balances in their international accounts. Central banks generally hold a large portion of their monetary reserves in reserve currencies, which are sometimes called "key" currencies. Restitutions 赔偿 Payments to agricultural exporters in the European Community under the Common Agricultural Policy to cover the difference between internal and world market prices.© 2010 – Dictionary of Trade Terms - Page 30
  31. 31. Reverse Preferences 逆优惠 Tariff advantages once offered by developing countries to imports from certain developed countries that granted them preferences in turn. Reverse preferences characterized trading arrangements between the European Community and some developing countries (the ACP countries) prior to the advent of the Lomé Convention. Revocable Letter of 可撤销信用证 See Letter of Credit Credit Right Of Stoppage 暂停过境权 The Right of an unpaid seller in certain circumstances to arrest the goods sold, after delivery to a carrier and before Transit delivery to the purchaser. RO-RO (Roll On/Roll 滚装船 Cargo that is rolled on and off a vessel under its own power. Roll on/roll off shipping allows for quick and easy Off) lading/unlading because the cargo does not need to be loaded and unloaded by winch or crane but can be driven on and off a vessel using a tractor trailer, van, or flatbed truck. Routing Orders The Party accepting responsibility for payment of the freight charges have the ultimate right to nominate the Carrier or Freight Forwarder to be used. Providing that the costs and services level involved match those allowed for in the original quotation. Royalty Payment 特许使用金 The share of the product or profit paid by a licensee to his licenser. S SAD: Single 单一行政文件 An eight-part set, used either in whole or parts, to facilitate easy movement of goods within the EU. Administrative Document Sanitary Certificate 卫生证书 A certificate which attests to the purity or absence of disease or pests in the shipment of food products, plants, seeds, and live animals. Schedule B 附表 B Refers to "Schedule B, Statistical Classification of Domestic and Foreign Commodities Exported from the United States." A seven-digit Schedule B number must be entered on the shippers U.S. Export Declaration for every commodity shipped.© 2010 – Dictionary of Trade Terms - Page 31
  32. 32. Sensitive Products 敏感产品 Domestically produced goods considered economically and politically important in a country whose competitive position would be threatened if protection against the imports of similar goods were reduced. The steel and textiles industries in many developed countries, for example, employ large numbers of workers, often in communities that cannot in the short term offer alternative employment. For these reasons, there has been strong opposition to the reduction of tariff and other trade-restricting measures affecting sensitive products. Shippers Export 托运人出口申报单 A form required by the U.S. Treasury Department and completed by a shipper showing the value, weight, Declaration consignee, destination, etc., of export shipments as well as Schedule B identification number. Shipping Conference 班轮公会 An alliance made up of a number of carriers that provide service from point to point for a defined route, which is distributed based upon market share. Shipping Documents 货运单据 Commercial invoices, bills of lading, insurance certificates, consular invoices, and related documents. Ships Manifest 船舶舱单 A true list in writing of the individual shipments comprising the cargo of a vessel, signed by the captain. Sight Draft 即期汇票 A Bill of Exchange payable at sight, ie “on demand”. A draft so drawn as to be payable upon presentation to the drawee or at a fixed or determinable date thereafter. See "Documents Against Acceptance," "Documents Against Payment." Single-Column Tariff 单柱关税 A tariff schedule listing only one duty rate for each imported product. The United States maintained a single-column tariff schedule until 1909, when special preferences were instituted for products imported from Cuba and the Philippines. SITC (Standard 国际贸易标准分类 An international foreign data scheme that permits international comparisons of foreign trade data. It was International Trade developed by the United Nations in 1950 and is used solely by international organizations for reporting international Classification) trade. SITPRO (Simplification 简化国际贸易程序 A UK organisation who frequently become involved in improving documentation etc on a worldwide basis. of International Trade Procedures) Specific Delivery Point 具体交货点 A point in sales quotations which designates specifically where and within what geographical locale the goods will be delivered at the expense and responsibility of the seller; e.g., F.A.S. named vessel at named port of export. Specific Limitations On 具体限制贸易 Government measures that restrict imports or exports of a product during a given period to an explicitly stated Trade volume or value, usually by requiring a license or other government authorization for each export or import transaction.© 2010 – Dictionary of Trade Terms - Page 32