Glossary

An inventory of all goods shipped showing which carton/container they are packed in.

A phytosanitary certificate is required if the overseas customs wish to ensure that any wood, wood packaging, wood products and trees has been treated as required. The phytosanitary regulations also apply to plants.

Short-term credit instrument consisting of a written promise by one person to pay a specified amount of money to another on demand or at a given future date. They can be secured or unsecured. If secured the payee can demand the sale of the collateral in event of non payment. Although still in use in International Trade.

The formal re-presentation of a dishonoured bill of exchange. The bill is presented by a notary public to the drawee. If refused again the notary public (representing the Bank) then issues a formal protest, an official certificate that the bill has been refused. The drawer can use this certificate to sue the drawee in court. Whether or not the drawer sues the drawee, the Bank retains recourse against the drawer & the drawee/endorser.

A document frequently called for to enable the importer to know what has been shipped and when.

A pre-shipment inspection is often called for by a buyer but can protect both the buyer and supplier. An independent recognised inspection agent examines the goods prior to shipment for quality and quantity and issues a report of finding. The supplier is protected in that the buyer cannot claim the goods were incorrect and the buyer is protected as he can be sure that the goods he ordered are the same as those being shipped.