| AF: Advance Freight - Before merchandise is shipped. | | | | for if sold in the country from which it was exported. |
| BB: Bill Book - A book containing all notes, bills of | | | | O/R: Owner's Risk - Moving merchandise from one |
| exchange, contracts, etc., outlining all transactions | | | | place to another with the owner assuming liability |
| made. | | | | while the items are in transit. |
| B/E: Bill Of Exchange - A written order specifying | | | | PL: Partial Loss - An insurance covering a loss when |
| payment; a promissory note. | | | | the merchandise isn't completely destroyed or |
| BKGE: Brokerage - A company that buys or sells | | | | worthless. |
| goods on behalf of clients. | | | | PSI: Preshipment Inspection - Inspecting merchandise |
| CFS: Container Freight Station - Gathering place for a | | | | quality and quantity to ensure it conforms to sales |
| large amount of merchandise before shipment. | | | | contract terms. |
| CRN: Customs Registered Number - A number | | | | QR: Quantitative Restrictions - Limits on the amount |
| identifying an importer or exporter to customs. | | | | of merchandise that can be imported or exported |
| CWO: Cash With Order - This is a payment made in | | | | within a specific amount of time. |
| advance. CWO payments are usually reserved for | | | | RWA: Ready, Willing and Able - When a supplier and |
| smaller orders or new buyers. | | | | seller have come to agreement on all terms of a |
| DD: Dock Dues - Any payments required for | | | | contract and the merchandise is ready to be shipped. |
| transporting merchandise to a dock. | | | | SITC: Standard International Trade Classification - An |
| DFZ: Duty Free Zone - An area such as a dock, | | | | international foreign data plan allowing the comparison |
| warehouse or airport that is considered to be outside | | | | of foreign trade data. |
| of its customs territory. | | | | TBT: Technical Barriers to Trade - Standard |
| FOB: Free On Board - The total cost of merchandise | | | | regulations that government entities impose to |
| on a ship or truck. The merchandise's destination is | | | | restrict trade. |
| outlined in the commercial contract. | | | | TL: Total Loss - Destruction of merchandise to the |
| KD: Knocked Down - Merchandise that is shipped with | | | | point where it is rendered completely worthless. |
| all of its parts but is unassembled to make shipment | | | | ULD: Unit Load Device - A container used in air |
| easier. | | | | freight. |
| L/C: Letter of Credit - A bank-issued document | | | | U/W: Underwriter - An individual or entity that signs |
| guaranteeing to pay a customer's drafts for a | | | | for and accepts liability in case of merchandise being |
| specific length of time and amount. | | | | lost or damaged. The underwriter will pay for the |
| MFN or MFNS: Most Favored Nation (Status) - A | | | | merchandise in the event of loss or destruction. |
| country receiving preferential treatment in terms of | | | | VAT: Value Added Tax - A consumption tax levied |
| taxes, quotas, etc. | | | | at various points throughout the production and |
| NCV: No Commercial Value - General term to describe | | | | distribution process. Each manufacturer or merchant |
| samples. | | | | pays a tax relating to the amount of value he has |
| NV: Normal Value - The price that an item would sell | | | | added to the merchandise after purchase. |