Glossary of Trade and Customs Terms

The Trade Lexicon contains terminology commonly-used in international trade, providing predictability in usage, bringing terminology in line with international practice and creating additional clarity for those engaging in trade transactions.

ABANDONED MERCHANDISE

 

Imported merchandise voluntarily given up by the importer and held in customs custody for proper disposition according to law.

 

ACCOMPANYING

Articles carried on the same plane, vessel or vehicle, as the passenger. Baggage which arrives on the same mode of conveyance ahead of or after a passenger, shall be treated as accompanying him if the passenger intended the baggage to arrive with him and it was misdirected through no fault of the passenger.

ACCREDITATION

 

Accreditation is the internationally accepted procedure that recognizes the competence of testing and calibration laboratories, product certification bodies, quality system certification bodies and inspection bodies. Accreditations minimize the duplication of re-testing and re-certification, eliminate non-tariff barriers to trade, and reduce cost and market access delays.

 

AD-VALOREM DUTIES AND TAXES

Duties and taxes which are calculated on the basis of a percentage of the value of the goods

ADMINISTRATIVE SETTLEMENT OF A CUSTOMS OFFENCE

 

Procedure laid down by national legislation under which the Customs authorities are empowered to settle a customs offence either by ruling thereon or by means of a compromise settlement.

 

ADMINISTRATIVE SETTLEMENT OF A CUSTOMS OFFENCE

 

The procedure laid down by national legislation under which the Customs are empowered to settle a Customs offence either by ruling thereon or by means of a compromise settlement.

 

AIR WAYBILL

 

The  shipping  contract  document  used  for  the  transportation  of airfreight which includes conditions, limitations of liability, shipping instructions, description of  commodity,  and  applicable  transportation  charges.  It is generally similar to a straight non-negotiable bill of lading and is used for similar purposes.

 

AIRCRAFT GENERAL DECLARATION

 

Declaration conforming to the provisions of Annex 9 to the Convention on International Civil Aviation, Chicago 1944. The general declaration is the basic document on arrival and departure providing information concerning the aircraft itself and summary information relating to the itinerary, crew, passengers and health.

 

ALCOHOLIC BEVERAGE OR LIQUOR

 

Spirits, wine, beer and ale.

 

ALLOWANCE

 

An amount granted, usually related to exemptions.