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Foreign/International Trade Terms

This resource is dedicated to all foreign/international trade terms and acts as a trading dictionary with the definitions for the most common terms used in international trade.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

AD Valorem Equivalent
The duty collected under a specific tariff or a compound tariff expressed as a percentage of the value of the imported item. The specific tariff is calculated on the basis of units of volume or weight, rather than value.

AD Valorem Tariff
A tariff calculated "according to value," or as a percentage of the value of goods cleared through customs; for example, 10% ad valorem means 10% percent of the value of the entered merchandise

AF
Advance Freight (before shipment)

Air Freight
Usually Air Freight is charged at the same rate irrespective of the class of goods. There are charged in any one of three ways: weight, volume or value and usual method of quotation is airport to airport.

Airway Bill
The Airway Bill replaced the previously known air consignment note, and it fulfils virtually the same function for Air Freight as the Bill of Lading does for Sea Freight.  It contains information about the consignment and, by law, is required to be made out by the consignor or his agent.

All Risks
This is an insurance term and the “All Risks” insurance will normally cover against all risks of whatever nature provided that they are risks and not certainties.

ATA Carnet
An ATA Carnet is issued by an authorized Chamber of Commerce to allow temporary export and subsequent re-import of professional equipment, commercial samples and goods for exhibition or trade fairs without payment of customs duty on deposit of a bond.

AWB
An individually numbered Contract of Airfreight for a single air shipment by the International Air Transport Association (I.A.T.A) rules.





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