Trade Terms

A bill of exchange payable by the drawee immediately upon presentation by the collecting bank. A sight draft may or may not be a documentary draft. See also at sight,…

An application to the District Director requesting that a bond of a certain form and amount, that identifies the value and nature of the articles, be accepted as adequate surety…

A charge for the purchase of a single entry bond, which covers one transaction and is based on value.

A charege for the procurement and placement of a single entry bond.

Sailed.

Similar to a certificate of insurance, except it is an insurance in and of itself and not subject to the underlying terms of an open policy when title has been…

Tax imposed on imported merchandise without regard to value. Usually based on net weight or number of pieces, etc.

The classification system developed by the United States Department of Commerce for business activities. There are eleven primary divisions classified by two digit codes. Further divisions occur within the primary…

A group of vessel operators joined together for the purpose of establishing freight rates. A shipper may receive reduced rates if the shipper enters into contract to ship on vessels…

The price charged for storage of merchandise, expressed as a cost per unit per month, or as a cost per square foot (or meter) per month.