Glossary

Export Cargo Shipping Instructions.

In its simplest form, Electronic Data Interchange, or EDI, is the computer-to-computer exchange between two companies of standard business documents in electronic format. There are two key elements in basic EDI; First, electronic documents replace paper documents. Second, the exchange of documents takes place in a standardised format. Using these two basic concepts, any business can enter the world of EDI and begin taking advantage of the speed and economy of electronic commerce.

The European Economic Area (EEA) was established on 1 January 1994 following an agreement between the member states of the European Free Trade Association (EFTA) and the European Community, later the European Union (EU).

Specifically, it allows Iceland, Liechtenstein and Norway to participate in the EU's single market without a conventional EU membership. In exchange, they are obliged to adopt all EU legislation related to the single market, except those pieces of legislation that relate to agriculture and fisheries.

The European Free Trade Association (EFTA) is a free trade organisation between four European countries that operates parallel to, and is linked to, the European Union (EU).

EFTA was established on 3 May 1960 as a trade bloc-alternative for European states who were either unable to, or chose not to, join the then-European Economic Community (EEC) which has now become the European Union (EU).

The Stockholm Convention, establishing EFTA, was signed on 4 January 1960 in Stockholm by seven countries. Today, only Iceland, Norway, Switzerland, and Liechtenstein remain members of EFTA (of which Norway and Switzerland are the only remaining founding members). The Stockholm Convention was subsequently replaced by the Vaduz Convention. This Convention provides for the liberalisation of trade among the member states.

Someone who signs a document on the reverse thereby endorsing it.

The Economic Operator Registration and Identification scheme (EORI) is an EU initiative that helps traders communicate with customs officials when they are importing and exporting goods. 

The importer will frequently request this information from the exporter to enable him to make the necessary arrangements for clearance of the goods when they arrive. 

Estimated time of departure. Frequently requested by the buyer so that arrangements can be made for clearance on arrival.

Estimated time of sailing Frequently requested by the buyer so that arrangements can be made for clearance on arrival.

The European Union (EU) is a partnership of 27 democratic countries, working together for the benefit of all their citizens. It aims to promote social and economic progress among its members, common foreign and security positions, police and judicial co-operation in criminal matters, and European citizenship.

A form to claim preferential duty rates on goods being exported to countries with which the EC has a preferential trading agreement. This can be applied for and authenticated online.

A preferential trade agreement between the EU Member States and Morocco, Algeria and Tunisia.

The European Investment Bank is the European Union's long-term lending institution established in 1958 under the Treaty of Rome. A policy-driven bank, the EIB supports the EU’s priority objectives, especially European integration and the development of economically weak regions. Recently, the Bank has also been actively supporting European R&D projects as part of EU's objective of building the world's leading knowledge-based economy.

Requested by some importers possibly where an import licence is required. The undertaking states what the intended end use of the goods is.

Export Declaration for road shipments through the EU to non EU countries. C88/SAD form.

Any item exported from the UK that is subject to export control needs a licence. The Export Control Organisation is responsible for assessing and issuing (or refusing) export licences for a wide range of controlled so called “strategic” goods. This includes military and dual-use item.

The invoice is in many ways the most important document required for an export shipment. It has several functions over and above requesting payment. In most lines of business, the invoice comes at the end of the chain. In export, it comes at the beginning. The invoice is the starting point for the production of all the documentation you will require and other documents will use information shown on your invoice.

Exports can be paid for in 4 different ways, Cash in Advance, Letter of Credit, Documentary Collection and Open Account.   Deciding which way you wish to be paid depends on many things, your relationship with the buyer, the country you are exporting to or even the size of the order.

An INCOTERM that defines who contracts and pays for the freight and insurance and where the risk in the goods passes. EFTA was established on 3 May 1960 as a trade bloc-alternative for European states who were either unable to, or chose not to, join the then-European Economic Community (EEC) which has now become the European Union (EU). The Stockholm Convention, establishing EFTA, was signed on 4 January 1960 in Stockholm by seven countries. Today, only Iceland, Norway, Switzerland, and Liechtenstein remain members of EFTA.