Glossary

An INCOTERM that defines who contracts and pays for the freight and insurance and where the risk in the goods passes.

This indicates that the exporter will take up the entire container as opposed to a groupage container where the container will carry consignments from more than one exporter.

A document provided by the freight forwarder particularly in Ex Works shipments. The document will show that the goods have been handed over to the freight forwarder.

An INCOTERM that defines who contracts and pays for the freight and insurance and where the risk in the goods passes.

A French term literally translated as "greater force", this clause is included in contracts to remove liability for natural and unavoidable catastrophes that interrupt the expected course of events and restrict participants from fulfilling obligations.

Forfaiting is a form of international supply chain financing. It involves the discount of future payment obligations on a without recourse basis. It is a flexible discounting technique that can be tailored to the needs of a wide range of domestic and international transactions. 

Form A, which is often called the GSP Form A, is a certificate of origin. It is used under the GSP program for exportations to the donor countries from the beneficiary countries.

Contract between the bank and its customer to buy/sell a fixed amount of foreign currency at a future date at a specified rate. An exporter could enter into a forward exchange contract for a DC payment or to sell the proceeds received from an export negotiation.

There are many Free Trade Agreements around the world. These basically mean that where a reciprocal free trade agreement is in place goods traded between those countries will enter duty free. The link below shows the free trade agreements that exist with the European Union and also shows additional agreements in place. Other agreements are in place which allow goods to be exported to participating countries at a reduced rate of duty. In some cases special documents are required to certify the origin or qualifying status of the goods.

Freight/Carriage costs to be paid by the consignee.

Freight/Carriage paid by the consignor.

The Fumigation Certificate provides evidence of the fumigation of exported goods (especially agricultural products, used clothing, etc.). This form assists in the quarantine clearance of any goods of plant or animal origin. The exporter is typically required to fumigate the goods at his or her expense prior to loading.