1. The document defines key terms related to international trade such as letters of credit, containers, invoices, freight, terminals, comparative and absolute advantage, surplus, deficit, the World Trade Organization, Incoterms, market research, balance of trade, customs barriers, vessels, external trade, customs clearance for export, the Harmonized System, monetary systems, customs unions, insured value, and maturity of bills of exchange. 2. Letters of credit are payment instruments that arise from international sales contracts and are governed by the Uniform Customs and Practice for Documentary Credits. 3. Containers are cargo vessels for transporting goods by water, land, and multimodal transport that are manufactured to ISO standards.

1.  1
Letter of credit
The letter of credit or letter of credit is a separate payment instrument contract that gave rise to the
relationship between the negotiating parties, ie the contract commonly called international sales.
Have legal grounds in and Rules Relating to Uniform Customs and Practice for Documentary Credits -
UCP 600 ICC (International Chamber of Commerce), which in the industry are popularly known
collectively as "the brochure 600" ..
 2
Container
A container [1] is a cargo vessel for transport by water, land transport and multimodal transport. It is
watertight units that protect the goods on the weather and are manufactured according to ISO
(International Standardization Organization) standards, specifically ISO-668; [2] for that reason, also
known by the name of container ISO.
 3
customs invoice
Document issued by seller and demanded him from the office of some cheep statistical purposes
only.
 4
commercial invoice
Document in which the conditions of sale of the goods and their specifications are set. It serves as
proof of sale, requiring for export in the country of origin for import into the country of destination.
It is also used as proof of the commercial contract. In an invoice must be included the following
data: date of issue, name and address of the exporter and the foreign importer, description of
goods, payment and delivery terms.
 5
freight
Price paid by the charterer to the shipowner for the hire of a merchant ship full or part, and also for
the transportation of goods. You can refer to the load
 6
transport terminal

2. Terminal railway freight station, terminal or tank containers, multipurpose terminal merchandise, or
other place of receipt
 7
comparative advantage
comparative advantage is one of the basic concepts underlying the theory of international trade and
shows that countries tend to specialize in the production and export of manufactured goods that a
relatively lower cost and higher quality compared to the rest of the world,
 8
Absolute Advantage
Having the ability to make a product using fewer resources and in less time than the competition, in
the case of corporations, or o ther country
 9
surplus
The term economic surplus refers to the difference of revenues over expenses (expenses) in an
organization over a given period. Specifically, the surplus of a state is because it collects more taxes,
deductions, etc., than it spends on providing public services and pay debts
 10
déficit
The concept of fiscal deficit, budget deficit or deficit describes the situation in which the costs
incurred by the State exceed non-interest income in a given period (usually a year).
 11
World trade organizatión
OMC
The World Trade Organization (WTO) is the only international organization dealing with the rules of
trade between nations. The pillars on which it rests are the WTO agreements that have been

3. negotiated and signed by the vast majority of countries participating in the global trading nations
and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and
importers conduct their activities
 12
FCA
Free carrier
The acronym FCA (acronym in English of the term Free Carrier 'free carrier, named place ") refers to a
incoterm or international trade clause, which is used for international sales transactions. In his
contractual formulation, the FCA term is necessarily followed by the name of the point of delivery
 13
international trade
It is defined as international or global trade, the exchange of goods, products and services between
two or more countries or economic regions.
 14
Terms incoterms
Incoterms are a set of international rules, governed by the International Chamber of Commerce,
which determine the extent of trade clauses in the contract for international sale.
Incoterms also called price clauses, since each term to determine the elements that compose it.
Incoterm selection influences the cost of the contract.
 15
market research
MARKET STUDY analysis that is performed to meet the international supply and demand, as well as
the behavior of the customers in the target market with an existing product or to be introduced for
the first time.

4.  16
balance of trade
Branch of the balance of payments, reflecting exports and imports of goods made between a
country and the rest of the world over a period of time. The balance revenue equals exports minus
imports payments (commercial coverage).
 17
Customs barriers
Customs duties levied on imports of goods from foreign countries.
 18
vessel
Any vessel that is capable of traveling at sea by own motive (propeller propulsion system, steam,
internal combustion engine, or even atomic energy) and that meets the following requirements:
buoyancy, sealing, stability, self-government, autonomy and capacity. They must be dedicated to
freight.
 19
external trade
Set of business transactions between residents of one country and residents of the rest of the
world. Foreign trade focuses on the study of economic relations between two or more nations.
Purchases are import and export sales, the difference between the values of purchases and sales is
the balance of trade surplus (BOP). Closely linked with the economic development of a nation.
 20
customs clearance for export

5. Control that customs have on exported goods. The owner must submit a signed statement of
exports accompanied by a commercial invoice, transport document and others, depending on the
type of goods.
 21
harmonized syste
The Cooperation Council Aduaneria decided to create a new tariff nomenclature used to present the
structure of tariffs, based on the NAB, which could be adopted by all countries (including the US,
Canada and Japan). It entered into force on 01/01/88 and was given the name of the Harmonized
System of Commodity Description and Coding.
 22
monetary system
Constituted by the relationships that exist between different types of money, both at country and
international level. On the basis of the system is the pattern money. Two types of monetary
standards: bimetallism (silver and gold) and monometallism (gold or silver).
 22
customs union
Agreement concerning the elimination of tariffs and non-tariff among member countries, also
creating a common external tariff applied equally to other third countries, this does not occur in the
free trade zones.
 24
insured value
Receive compensation from the insurer if the insured loss of value of goods as a result of an insured
event occurs.
 25
maturity of the bill of exchange
In Spain, the drafts will be turned: 1. a fixed date; 2. for a term beginning on the date; 3. sight; 4. a
period from the view.