List of terms in glossary:
Batch of goods, which is either sent simultaneously from one exporter to one consignee, either is accompanied by a single invoice or a single transport document covering their shipment from the exporter to the consignee.
Document accompanying goods that is filled by the shipper. It serves as proof that a contract for carriage has been concluded and describes its content. It also serves as a receipt when goods are picked up from the shipper and delivered to the recipient.
International agreement between governments that aims to ensure that international trade in specimens of wild animals and plants does not threaten their survival.
In a contract specifying that a sale is CFR, the seller pays for the carriage of goods by sea to the port of destination and provides the buyer with the documents necessary to obtain the goods from the carrier. Costs for loading onto the ships, export formalities and marine insurance are also borne by the seller.
A method of exporting goods, where the seller pays for the carriage of goods by sea to the port of destination as well as for the maritime insurance policy against the risk of loss or damage to goods during transport. Costs related to loading onto the ships and export formalities are also borne by the seller. Until the loading of the goods onto a transport ship is complete, the seller bears the costs of any loss or damage to the product. Further, if the product requires additional customs or export paperwork or requires inspections or rerouting, the seller must cover these expenses. Once the freight loads, the buyer becomes responsible for all other costs.
Treaty between the European Union and the African, Caribbean and Pacific Group of States (ACP countries). Signed in June 2000, it constitutes the framework for cooperation between the members of the ACP countries and the EU. The fundamental principles of the Cotonou Agreement include equality of partners, global participation (states and non-state actors), dialogue and regionalisation.
Countervailing duties, also known as anti-subsidy duties, are import duties imposed under World Trade Organization (WTO) rules and aimed to neutralise the negative effects of subsidies. They are imposed after an investigation finds that a foreign country subsidises its exports, injuring domestic producers in the importing country.
The abbreviation stands for ‘Change of Chapter’. See ‘Change of tariff classification’.
Provision under trade agreements that allows for goods originating in country A and further processed or added to products originating in country B, to be considered as originating from country B.
Therefore, it provide producers with flexibility in terms of sourcing inputs and parts, allowing them to use inputs and parts from suppliers located in other partner countries and still qualify for preferential tariffs. There are four types of cumulation: bilateral, diagonal, regional and full cumulation.
Authorities or agencies responsible for collecting duties and for controlling the flow of goods, including animals, transports, personal, and hazardous items, into and out of a customs territory (such as a country or a customs union). The functions of customs cover the aspects of taxation, security and trade facilitation.