This document provides definitions for terms related to international trade and customs procedures. It includes glossaries of terms beginning with letters A through O, defining key concepts such as customs duties, import quotas, incoterms, letters of credit, and multimodal transport.

1. GLOSARY
Guerrero Yeine.
Peña Alejandra.
Ortiz Erika
FUNDACIÓN UNIVERSITARIA SAN MATEO.
FACULTAD DE CIENCIAS ADMINISTRATIVAS Y AFINES.
COMERCIO INTERNACIONAL
BOGOTÁ
NOVIEMBRE 2016

2. GLOSARY
-A-
Abandonment: The act of relinquishing claim or right to property
Absolute advantage An advantage of one nation or area over another in the costs of
producing an item in terms of used resources.
Account number: An identification number assigned in its records for purposes of faster
and more accurate accounting and record keeping, by banks, institutions, and businesses of all kind
to their depositors, users, members, subscribers, customers, vendors, or other entities.
A customs declaration: a statement showing goods being imported on which duty will have to be
paid. Example: to fill in a customs declaration form.
Ad valorem duty: Duty calculated on the basis of value (usually a percentage of the value.)
Ad valorem tariff: An ad valorem tax (Latin for according to value) is a tax whose amount is
based on the value of a transaction or of property. It is typically imposed at the time of a transaction,
as in the case of a sales tax or value-added tax (VAT).
Afloat Refers to a shipment of cargo which is currently on board a vessel between ports.
Anti dumping: An anti-dumping duty is a protectionist tariff that a domestic government
imposes on foreign imports that it believes are priced below fair market value.

3. Assessment: 1. The valuation, or determination as to value, of property.
2. The act of apportioning amounts to be paid.
3. An amount assessed or charged, for example: taxes or dues.
Auxiliaries of the Customs Service: Also auxiliary of commerce; They are people of
existenceVisible or ideal, known as foreign trade agents, to manage on behalf of Account of the
third party the registrations and the procedures of introduction and extraction of Goods before the
inspection body. We find the Customs Broker and Customs Broker.
ADEUDO: Amount to which the liquidation of taxes, interest and fines if any, which payment is
a demandable obligation.

4. -B-
Balance of payments: A statement summarizing all the economic and financial transactions
between companies, banks, private households and public authorities of one nation with those of
the other nations of the world over a specific time period. It includes merchandise trade
payments, payments and receipts on account of shipping services, tourist services, financial
services, government expenditures, short and long term capital movements, interest and
dividends, gold movements, etc.
Balance of trade: Set of commercial transactions carried out by a country with theAbroad, over
a given period (one year), consisting of imports and Exports of goods considered as a whole,
Three different ways, according to the results of the total values exchanged, can Be: Level trade
balance (when import and export balance), Deficient or favorable (excess of import on export)
and, favorable or with surplus (Over-export on import).
Benefeiciary: 1. In the case of a letter of credit, the individual or company who is entitled to
draw or demand payment under its terms.
2. In the case of insurance, the person entitled to take the proceeds.
3. The person for whose benefit a contract, or trust, or will is executed or enforced.
Bilateral trade: The commerce between two countries.
Boarding pass: Definition of shipping documents: Air waybill, bill of lading, or truck bill of
lading, commercial invoice, certificate of origin, insurance certificate, packing list.
Box: 1. Term referring to a trailer, semi-trailer, or container used in transportation.
2. A type of package of wood, cardboard, metal, plastic or other material.
Bulk carrier: A vessel designed for the shipment of bulk cargo.

5. -C-
Capacity: measure of the ability of a Company to produce godos or provide. Service.
Capital Goods: 1. Durable goods which are used to produce other goods for consumption: for
example machinery, equipment, buildings.
2. Also, material used or consumed to produce other goods.
Cargo manifest: Document signed by the driver or by the representatives of the Cargo
undertaking, which contains the complete list of packages of any kind on board Of the vehicle,
excluding postal effects and the effects of crew members and passengers.
Carrier: A legal entity that is in the business of transporting passengers or goods for hire.
Certification: 1. Official proof of authenticity.
2. The formal assertion of some fact in writing.
Certificate of origin: A Certificate of Origin (CO) is an important international trade document
attesting that goods in a particular export shipment are wholly obtained, produced, manufactured
or processed in a particular country. COs also constitue a declaration by the exporter.
CFR Cost and Freight
CFS Container Freight Station:
CIF Cost Insurance and Freight:
City terminal service: A service provided by some airlines that involves receiving or
delivering cargo at terminals in-town instead of at airports.

6. Classification: The categorization of merchandise:
In transportation - to permit determination of freight rates within a tariff.
In customs - to permit the determination of duty status within the Harmonized Tariff Schedules.
Coastal trade: Trade by vessel between the ports of one nation.
Collection 1. The presentation for payment of an obligation and the payment thereof.
2. A gathering of similar goods.
Comercial agreement: a comercial contrat refers to a legally binding agreement between parties
in which they are obligated to do or restrain from doing particular things.
Commercial sample: Representative article of a particular category of goods already Produced,
or which is a model of goods whose manufacture is contemplated.
Compradore: An agent in a foreign country employed by a domestic businessman to facilitate
transactions with local businesses within the foreign country.
Confiscation: To confiscate means to take away temporarily for security or legal reasons. It
implies an act by an authority upon one of less power.
Container: anything that contains or can contain something, as a carton, box, crate, or can.
Container dimensions: The lenght, with and height of a container.
Conveyance: the act of taking or carrying someone or something from one place to another.
Country of departure: The country from which a shipment of goods, a carrier, or a passenger
has or is scheduled to depart.

7. Country of destination: The country that is the ultimate destination for a shipment of goods.
For a carrier, it is the country in which it intends to complete its current voyage or flight.
CPT Carriage Paid To:
Cubicle: The volume that is measured.
Customs The government service which is responsible for the administration of Customs law
and the collection of duties and taxes relating thereto, and which has responsibility for the
application of other laws and regulations relative to the importation , transit, and exportation of
goods.
Customs agents: a person or company that is paid to make sure that all necessary taxes are paid
and rules are followed so that goods can be imported into a country.
Customs Area: It is the part of the political territory limited by the customs line, in which, for The
goods from outside and also to cross the Of the country, the precepts of the specific customs
legislation become effective and, when The duties or taxes of the tariff or tariff, which is a natural
consequence of that legislation.
Customs barriers: Any measure designed to limit international trade. A customs barrier will act
to limit the level of trade across international borders by implementing restrictions on imports
and/or exports.
Customs Duty: is a tariff or tax imposed on goods when transported across international borders.
The purpose of Customs Duty is to protect each country's economy, residents, jobs, environment,
etc., by controlling the flow of goods, especially restrictive and prohibited goods, into and out of
the country.

8. Customs Jurisdiction: Portion of the customs territory within which the goods are Subject to
surveillance and customs regulations. It includes, not only ports or other Places where the customs
are located, but also the coastal surveillance radius or Terrestrial to where that jurisdiction extends.
Customs office: a person whose job is to make certain travellers are not taking goods into a
country.
Customs operations: All operations that are carried out by the cutoms such ass regulate the import
and export.
Customs Value: It is the transaction value, it the price actually paid or payable Of the goods when
they are sold for export to the country of importation, adjusted where appropriate.
Customs warehouse: Place authorized by law under the control of Customs where Store goods
under their power until the moment of withdrawal for their importation, Export or other customs
destination, excluding private warehouses.
Customs Control: A set of measures to ensure compliance with the laws and regulations that
customs are responsible for implementing.

9. -D-
DAP Delivered At Place:
DAT Delivered At Place:
DDP Delivered Duty Paid:
Dealer: An individual or firm who purchases goods for resale.
Delivery:
1. In the case of transportation, the act of transferring physical possession.
2. The act of actually or of constructively placing goods or property within the possession or
control of another.
Delivery carrier: The transport carrier whose responsibility it is to place a shipment at the
disposal of the consignee at the named destination.
Deposit: An amount of money you pay as the first part of the total payment for something
Desaduamiento: The completion of customs formalities for allow goods, import for consumption.
Distribution service: A transportation service that accepts a shipment from a shipper and at
destination separates and sorts the packages and distributes them to many receivers.
Drugstore: It is the establishment authorized by sanitary resolution, destined to the Import,
fractionation, distribution and sale of bulk drugs, chemical substances,
Reagents, permitted colorants, physics and chemistry apparatus and medical and Surgical
procedures.

10. -E-
Entry documents: The documents required to complete customs entry to secure the release of
imported merchandise.
Exchange rate The price of one currency expressed in terms of another.
Export To send or transport goods abroad out of a customs territory; to sever them from the
mass of things belonging to one country with the intention of uniting them to the mass of things
belonging to a foreign country.
Export declaration: (USA) The Shipper's Export Declaration is a required customs document
for exportation of goods from the United States which provides statistics and facilitates control
where applicable
Export: send (goods or services) to another country for sale.
Export credit: Credit destined to the financing of exports. The most frequent modalities are: pre-
financing, post-financing and financing of Investments to export.
EXW Ex Works

11. -F-
FAS Free Alongside Ship
FCA Free Carrier
FOB Free on board
Financian instrumental: A document which has a monetary value or is evidence of a monetary
transaction, such as drafts, bills of exchange, checks and promissory notes.}
Foreing investment: The purchase of assets which are abroad
Foreign Merchandise: The one that comes from outside and whose import has not been
consummated Legally, even of national production or manufacture; Or having been imported
Under condition, it is no longer fulfilled.
Foreign trade operations: The exchange of goods or services along international borders.
Franco: Free from duties, transportation charges and other levies.
Franchise: Total or partial exemption of the payment of taxes, provided by law.
Free in and out: A pricing term indicating that the vessel operator is responsible for the cost of
loading and unloading
Free port: Concession made by a State to have a port in another country as if Ship or unload
merchandise and carry it without interference or Customs duties.
Free trade Area: Form of economic integration that removes all barriers Tariffs on trade in goods
between member countries.

12. Free trade zone: An area within a country (a seaport, airport, warehouse or any designated area)
regarded as being outside its customs territory where importers may bring goods of foreign origin
without paying customs duties and taxes, pending their eventual processing, transshipment or re-
exportation.
Free Zone: Areas of the national territory, previously qualified, subject to A special regime, where
national, Foreigners, engaged in the production or marketing of goods for export, Direct or
indirect, as well as the provision of services related to international trade and To activities related
to or complementary to them.
Freight: Cost of maritime transport. (Freight).
-G-
General interpretative rules: The General Rules for the Interpretation of the Harmonized
System, also known as the General Interpretative Rules (GIR), is a set of 6 rules for classifying
goods.
Guarantee letter: Document, issued by an air navigation company, which Constitutes proof of a
contract of carriage of cargo, being at the same time the Proof of receipt of the goods to be
transported, stating the amount Corresponding to freight.

13. -H-
Harmonized System: The Harmonized Commodity Description and Coding System(HS) forms
the basis of the Customs Tariff. The HS was developed and is maintained by the World Customs
Organization (WCO), an independent intergovernmental organization with over 179 members and
is based in Brussels, Belgium.

14. -I-
Import: bring (goods or services) into a country from abroad for sale.
Import duties: are mandatory payments levied by government on goods and services.
Import quotas: An import quota is a type of protectionist trade restriction that sets a physical
limit on the quantity of a good that can be imported into a country in a given period of
time. Quotas, like other trade restrictions, are typically used to benefit the producers of a good at
the expense of consumers in that economy.
Impost: 1. A tax, especially an import duty.
2. To classify an impost in order to fix the duty. (rarely used). (Note: an imposter is one who
imposts. Another definition of an imposter is a "pretender" but that is not the meaning intended
here.).)
Incoterms: These terms are defined and elaborated by the International Chamber of Commerce
(CIC), With the purpose of establishing a standardized language that can be used by the Buyers
and sellers involved in international business. are rules Interpretation of the commercial terms
established by the Chamber of Commerce and International Trade. Its objective is to establish
definite criteria on the distribution of Expenses and transmisión of risks, between exporter and
importer.
International multimodal transport: Postage of merchandise by two or more different modes of
Transport (truck, wagon, ship, air), by virtue of a contract of carriage Multimodal, multimodal or
combined, from a location in a country where the operator Of the multimodal transport takes the
goods, under its responsibility and custody, to
Later to another place located in a different country. The characteristics Essential elements of this
system that distinguishes it from traditional segmented transport are, in First, that it is a system
based on a "single contract" and, secondly, That the multimodal transport operator which assumes

15. responsibility for compliance with the Contract, current as "principal", and not as agent of the user
or consignor, or of the Different modes of transport.
International business: The term international business is used to describe topics related to the
operations of companies that either purchase from or sell into or have branch offices in one or
more countries other than their base of operations.
Invisible barriers to trade: Government regulations (national and local), and cultural conditions
that do not directly restrict trade but hinder it with excessive and obscure requirements.
Irrevocable lette of credit A letter of credit which cannot be amended or canceled without
prior mutual consent of all parties to the credit.
Irrevocable documentary credit: The credit can not be modified or canceled without the
Agreement of the issuing bank, confirming bank (if any) and the beneficiary. Is a Firm
commitment on the part of the issuing Bank in favor of the exporter. In the absence of a Clear
indication in the credit, it will be considered as irrevocable.
ISO: Standard of international standardization.

16. -L-
Legislation: Act whereby the Regional Director, the Administrator or officials in Who delegate
this power, find that the respective document has fulfilled All legal and regulatory procedures,
granting its approval and verifying further, The conformity of the guarantee rendered, in those
declarations in which it is demandable.
Letter of credit A commitment, usually by a bank on behalf of a client, to pay a beneficiary a
stated amount of money under specified conditions.
Load: This is the name of those goods that are transported by payment Of a price. It may also be
called cargo to the goods that a ship, Another type of transport vehicle, has in its warehouse or
warehouse at any given time.

17. -M-
Mixes tariffs:The most common is an ad valorem tariff, which means that the customs duty is
calculated as a percentage of the value of the product. ... Mixed tariffs are expressed as either a
specific or an ad valorem rate, depending on which generates the most (or sometimes least)
revenue.
Multimodal transport: International multimodal transport is the transfer of goods from one
country to another with the use of more than one means of transport (road, rail, air, sea or river)
and without any cargo ruptura.
National customs territory: It is defined as the terrestrial, aquatic and air environment where the
Argentine Nation exercises sovereignty and in which the same tariff system is applied and of
economic prohibitions to the exports and imports.
Nationalised Merchandise: It is the foreign merchandise whose import has been consummated
Legally, this is when the tax procedure is finished, it is at the free disposal of the Concerned.

18. -O-
OEA Organization of American States: Since 1948. It groups the 34 American states With the
exception of Cuba.
Owner: Person under whose name and direct responsibility the expedition or management Of the
operation of the vessel.

19. -P-
Packaging: Protection of goods during all transport operations and Management that supposes the
process of export, so that they arrive in the hands of the final client, Abroad, under the best
conditions.
Packing list: List of goods that are shiped.
Prepaid 1. A notation on a shipping document indicating that shipping charges have already
been paid by the shipper to the carrier, or it is an expression of the intention that payment is to be
made by the shipper.
2. An expense paid before it is currently due.
3. A service or good paid for before it is delivered.
Price difference: Price is the amount a customer pays for that product or service.
The differencebetween the price that is paid and the cost that is incurred is the profit the business
makes when the item sells.
Primary Area: Space of sea or land in which the material operations are carried out,
Maritime and land transport of goods which, for the purposes of their Jurisdiction and is to be
loaded, downloaded, received or reviewed The goods, for their introduction or exit from the
national territory.
Principle of efficiency: An economic theory that states that the greatest benefit to society of any
action is achieved when the marginal benefits from the allocation of resources are equivalent to
the marginal social costs.
Principle of justice: A Theory of Justice is a work of political philosophy and ethics by John
Rawls, in which Rawls attempts to solve the problem of distributive justice (the socially

20. just distribution of goods in a society) by utilising a variant of the familiar device of the social
contract.
Principle of security and facilitation in the logistics chain of the operations of
foreign trade: international standards which enable customs administrations and their partners to
increase the security of the global trade supply chain whilst facilititating the movement of
legitimate cargo.
Principle of typicity: exhibiting the qualities, traits, or characteristics that identify a kinds, class,
group, or category.
Prohibitive tariff: Somewhere between a zero tariff and the prohibitive tariff, tariff revenue
has to be positive. Thus, tariff revenue must rise from zero and then fall back to zero when it
reaches tp. The national welfare level at each tariff rate is defined as the sum of consumer surplus,
producer surplus and tariffrevenue.

21. -R-
Raw material: Unprocessed material, used for the production of a good. The
Productive processes alter their original structure.
Regime: Set of rules or rules that govern or govern a thing, or that define the administration of a
state or an entity: this father wants for his children a very severe education regime; This company
operates under a cooperative regime. Normative, ordering.
Reimportation: Regarding goods that were exported, when they returned, for any Country of
origin, or in respect of foreign To the country, if they are exported to re-import them again for any
reason more.
Revolving letter of credit A letter of credit which when drawn upon is automatically restored
to its full amount, periodically, or after a particular event prescribed in the credit.

22. -S-
Safeguards: Exceptional protection measures used by a country to protect
National industries that are damaged or Threat of serious injury, due to a significant Goods flowing
into the internal market under conditions of fair competition.
Safeguards prices: Emergency methods to protect the nacional production.
Seasonal tariff.: A tariff that is levied at different rates at different times of the year, usually on
agricultural products, being highest at the time of the domestic harvest.
Shipment: Charge in a vehicle or ship.
Specific tariff: A specific rate duty is a tariff levied on imports, defined in terms of
a specificamount per unit, such as cents per kilogram.
Standards origin: Meaning "unit of measure" is early 14c., from Anglo-French, where it was
used 13c., and is perhaps metaphoric, the royal standard coming to stand for royal authority in
matters like setting weights and measures. Hence the meaning authoritative or recognized
exemplar of quality or correctness.

23. -T-
Tare: The weight of the packing material.
Tariff: a tax or duty to be paid on a particular class of imports or exports.
Tariff clasification: For government, a tariff classification system enables uniform identification
of imported and exported goods for purposes of duty and tax collection, enforcement of national
laws and international treaties, analysis for economic and business planning, and international
trade negotiations.
Tariff nomenclature: The Harmonized Commodity Description and Coding System, also known
as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system
of names and numbers to classify traded products.
Tariff position: It allows to incorporate the tariff position of the product or service. Uses The
international system of 6 figures. The 6-digit international code in different countries
Add between 4 and 6 additional for a better specification of the product or service late.
Tariff quota: A tariff-rate quota (TRQ) is a trade policy tool used to protect a domestically-
produced commodity or product from competitive imports. A TRQ combines two policy
instruments that nations historically have used to restrict such imports: quotasand tariffs.
Trade agreements: Contracts between two or more countries, by which they are regulated Strictly
commercial matters. They have the character of tariff Advantages and security in the application
of tariffs and customs regimes affecting Contractors.
Trade barrier: A barrier to trade is a government-imposed restraint on the flow of international
goods or services

24. Transport document: A transport document is a kind of document used to convey information
about cargo that is being transported.
Transit: Passage of foreign goods across the country when it forms part of a
Total journey started abroad and must be completed outside its borders. The transit of foreign
goods abroad shall also be considered as transit. By mistake or other qualified causes in the primary
zones or places With the condition that they have not left these premises and that their arrival in
the country And its subsequent shipment to the exterior is made by sea or air.

25. -U-
Unitarized load: It is understood by unitization of a cargo to the meeting or grouping of A number
of articles or packages in a single package for the purpose of facilitating their Handling, stowage,
storage, transport or later use of its contents.
-W-
World customs organization: independent intergoverment body whose is to improve the
administration of customs of the allocation.
.