A complete glossary of terms for international trade on Exporting and Importing.


The actual weight of the container only, without any goods.

Tariff Numbers (also known as HS code)

The Harmonized Commodity Description and Coding System (HS) or tariff is an internationally standardized system of names and numbers for classifying traded products developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization with over 170 member countries based in Brussels, Belgium.

Tariff Quotas

tariff-rate quota (TRQ) is a trade policy tool used to protect a domestically-produced commodity or product from competitive imports.

Technical help for Exporters

BSI Group, also known in the UK as the British Standards Institution (or BSI), is a multinational business services provider whose principal activity is the production of standards and the supply of standards-related services. They have offices in 150 countries and can help with any standard or technical related issues.


Term or Period of credit granted by the drawer.

Terms and Conditions

A businesses terms and conditions need to be known to the buyer at the time of agreeing to the sale. They can be sent with the quote or proforma. The terms and conditions will be relied on in the event of a dispute so it is extremely important that they are correct for your business. It is advisable to include a retention of title clause.

TEU (20ft equivalent unit)

Standard unit for describing a ship's cargo carrying capacity, or a shipping terminal's cargo handling capacity. A standard forty-foot (40x8x8 feet) container equals two TEUs (each 20x8x8 feet).

Trade Agreements

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.

Trade Marks Registry

A trade mark is a distinctive sign or indicator used by an individual, business organization, or other legal entity to identify that the products or services to consumers with which the trademark appears originate from a unique source, and to distinguish its products or services from those of other entities.A trademark is typically a name, word, phrase, logo, symbol, design, image, or a combination of these elements. There is also a range of non-conventional trademarks comprising marks which do not fall into these standard categories, such as those based on colour, smell, or sound.The owner of a registered trademark may commence legal proceedings for trademark infringement to prevent unauthorized use of that trademark. However, registration is not required. The owner of a common law trademark may also file suit, but an unregistered mark may be protectable only within the geographical area within which it has been used or in geographical areas into which it may be reasonably expected to expand.

Transferable Letter of Credit

Permits the beneficiary to transfer all or some of the rights and obligations of the credit to a second beneficiary or beneficiaries.

TT (Telegraphic Transfer)

Telegraphic Transfer or Telex Transfer, often abbreviated to TT, is an electronic means of transferring funds overseas. A transfer charge is collected while sending money.