Glossary search results for "X" (98)
List of terms in glossary:
Method of exporting goods, where the seller is required to deliver the goods on board the rail. Thus, the seller has to bear all expenses upto and including shipment of goods on behalf of the buyer.
Once the goods are put on board on rail, the property in the goods passes to the buyer and they are at the risk of the buyer, who is responsible for their freight, insurance and subsequent expenses.
Transport of goods executed by a carrier, under the terms of an agreement with the consigner.
Provision of trade agreements that allows cumulation to be applied between any number of countries to goods not originating in the FTA member country and processed in the FTA territory. Full cumulation allows cumulating origin-counting processing added across the FTA territory even when the initial input is not originating. Full cumulation is the most flexible type of cumulation.
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Provision that allows manufacturers to use non-originating materials up to a specific percentage value of the ex-works price. However, if the specific working or processing rule already allows the use of a percentage of non-originating materials, the tolerance cannot be used to exceed that amount.
The maximum percentage is always that allowed by the specific rule. The percentage of the tolerance allowed varies from one preferential scheme to another.
A trading system that grants unilaterally preferential tariffs to certain countries on a non-reciprocal basis. It was approved by GATT in 1971, allowing industrialised members to adopt one-way tariff preferences in favour of developing countries.
The waiver was made more general and permanent in 1979 with adoption of the "enabling clause" allowing industrialised countries to implement measures extending "differential and more favourable treatment" to developing countries.
The EU launched this preferential system in 1971 to help developing countries sell more of their products in industrialised countries and build up their own industry. GSP preferences are granted to exports of specific products from particular countries.
Organism whose genome has been engineered in the laboratory in order to favour the expression of desired physiological traits or the generation of desired biological products.
Term used to exclude from the generalised system of preferences (GSP) products originating in a beneficiary country, when they reach a level of competitiveness on the EU market at which they no longer need the GSP to compete. Unlike the previous GSP which had GSP-specific "sectors", graduation is now based on the "sections" of the Common Customs Tariff (CCT). A section (i.e., a large group of products in a particular sector – the CCT has 21) from individual countries are “graduated” (excluded) from GSP when those products exceed the relevant threshold (57%, 17.5% or 47.2%, according to the type of product) of EU imports under the GSP of the same products as an annual average over the last three years.
An international nomenclature developed by the World Customs Organisation (arranged in six-digit codes), allowing all participating countries to classify traded goods on a common basis. Beyond the six-digit level, countries are free to introduce national distinctions for tariffs and many other purposes. Hence, up to the HS-6 digit level, all countries using the Harmonised System classify products in the same way.
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‘Importer’s knowledge’ allows the importer to claim preferential tariff treatment based on his own knowledge of the originating status of imported products in the form of supporting documents or records provided by the exporter or manufacturer of the product, which are in the importer’s possession. This information provides valid evidence that the product qualifies as originating.
International commercial terms. Eleven terms of sale accepted worldwide in assignment of costs and responsibilities between the buyer and the seller. Proposed, updated, and copyrighted by the International Chamber of Commerce (ICC), they serve as global standards for uniform interpretation of common contract clauses in international trade.
In brief these terms are (1) Ex Works (EXW), (2) Free Carrier (FCA), (3) Free Alongside Ship (FAS), (4) FOB (Free On Board Vessel), (5) Cost and Freight (CFR), (6) Cost, insurance and freight (CIF), (7) Carriage Paid to (CPT), (8) Carriage and Insurance Paid to (CIP), (9) Delivered At Place (DAP), Delivered At Place Unloaded (DPU), Delivered Duty Paid (DDP).