Trade Terms

Value.

A document issued by the U.S. government authorizing the export of commodities for which written export authorization is required by law.

The appraisal of the worth of imported goods by Customs officials to determine the amount of duty due in the importing country.

Transportation charges assessed to shippers who declare a value of goods higher than the value of the carrier’s limits of liability.

An indirect tax on consumption that is levied at each discrete point in the production chain and distribution from raw materials to final consumption.

Vessel.

A term referring to the Customs admittance or departure procedures which a vessel must undergo on each voyage upon first entering and last exiting a port or other designated area…

The unsolicited notice of and deposit of the probable amount of unpaid duties, which will be found due on the entry. It is initiated by the importer record or the…

Warehouse Information Network Standards committee, formed to develop standards for six types of warehousing messages shipping order, inventory status report, activity report, stock transfer receipt advice, shipping advice, and accept/reject…

With particular average. An insurance term meaning that partial loss or damage to goods is insured.