Import Export Specialist

Terms of delivery is cover the division of responsibility for the costs of an export or import sale and for the risk of loss or damage in transit.

Anti-dumping is if a company exports a product at a price lower than the price it normally charges in its home market, it's said to be dumping the product. Member countries of the World Trade Organisation may be able to impose certain measures on other members that dump products on their markets.

Cash with order (CWO) is the buyer pays for goods when ordering. The transaction is binding on both supplier and customer.

EFTA is European Free Trade Association, Members are Iceland , Norway , Liechtenstein and Switzerland .

Containerised/containerisation is the packing of goods for transport in sealed containers.

ATA is admission temporaire of temporary export, used in conjunction with the term carnet.

Convertible currency is a currency that can be bought and sold for other currencies at will.

Tariff is customs duties on imports of goods. They give price advantages or parity to similar locally produced goods and raise revenues for the government that levies them.

Documentary collection is where you draw up a bill of exchange (see Bill of Exchange), which allows you to keep control of your goods and raise additional finance.

Export packing list is this is attached to the outside of the package to be shipped and specifies the weight, volume and type of cargo.

Carnet is Customs document which allows you to carry or send goods temporarily into certain countries for display or demonstration purposes without paying duty or posting a bond.

Export invoice is part of the documentation needed if you ship your goods abroad. It should contain a full description of your goods, their price, weight and country of origin.

Consignment is when goods are exported subject to consignment, the exporter only receives payment on completed sales. Any unsold items may be returned to the exporter, usually at their expense. This is a high-risk method of payment for an exporter.

Forward foreign exchange contract is exporters can hedge against the risk of adverse exchange rate movements by using a forward foreign exchange contract. You agree to sell the bank a particular foreign currency at a fixed future date for a price that is set now.

DDP is delivered duty paid (named place of destination). This is an Incoterm. Find more information about Incoterms at the Incoterm 2000 website. The seller clears the goods for export and pays for delivery to the named destination. The seller meets all the costs and risk of clearing the goods for import, though the buyer may agree to bear some of the costs. The goods are delivered when they arrive, cleared for import but not unloaded, at the named destination.

Bill of exchange is written document in which a supplier is guaranteed payment of a specified amount by a drawee by a fixed date. The drawee is generally the customer but is likely to be the customer's bank if the bill of exchange is used with a term letter of credit (see Letter of Credit).

British International Freight Association (BIFA) is body representing the UK international freight services industry. BIFA can provide you with a list of freight forwarders and customs clearing agents.

Free circulation is goods are in free circulation in the EU if they originate from an EU country or have already been imported, all customs charges paid, into an EU country.

Single Administrative Document (SAD) is also known as the C88, this document must be completed for all exports, imports and goods crossing the EU. Find more information about the SAD at the Customs and Excise website.

Export licence is government document legally required for the export of certain goods such as pharmaceuticals, chemicals and munitions. It's the exporter's responsibility to obtain a licence if necessary.