Foreign trade – Vocabulary and Phrases
exporter – a person or company producing goods to sell abroad
His father was a tobacco exporter.
importer – a person or company buying goods from abroad for sale in their home country
We offer the highest quality lists of importers to be found in the world.
bill of exchange – the most commonly used financial instrument in international trade. An unconditional payment demand for a specific sum of money, it is payable either at sight or at a specified future date.
As with all financial documents, the source, i.e. the drawer or issuer of the bill of exchange, must be carefully investigated.
advance payment – a trading method in which the buyer pays for goods before they are despatched. Advance payments are used when the buyer is of unknown creditworthiness and is unable to obtain a letter of credit
On occasion, it may be necessary to provide a known and reputable vendor with an advance payment.
beneficiary – the party specified in a letter of credit, to whom payment will be made. The beneficiary is normally the seller or exporter
The beneficiary of a life insurance policy, for example, is the person who receives the payment of the amount of insurance after the death of the insured.
open (credit) account – a trading method in which goods are despatched to a buyer and paid for after they have been received
The Apple Credit Account allows individuals to get instant financing on Apple computers, software, and accessories.
export-driven economy – when exports are a major part of a country's GNP (gross national product)
The Four Asian Tigers pursued an export-driven model of economic development; these countries and territories focused on developing goods for export to highly-industrialized nations.
banker's draft – a draft drawn by a bank against funds deposited in another bank
The Company may cash the banker’s draft, cheque or debit your credit card in order to receive full payment for any costs, charges or fees that are incurred by them due to booking the accommodation requested by you as detailed in the booking form.
to sign a contract – to write one's signature, as a token of agreement with the contract
Once you sign a contract, Mr. Dunn explained, you are bound to its terms regardless of anything else that was agreed upon over a handshake or promised.
to make a deal – to agree on something
Let's make a deal!
to agree on (to) terms – to accept conditions (of a contract)
Both parties agree to terms, which includes a description of the merchandise, sale price, number of days for the Buyer's inspection, and shipping information.
terms of delivery – conditions of dispatching ordered goods
The terms of delivery need to be agreed upon before a contract can be signed
to present documents – to show documents
The bank will only pay the exporter the money after all the documents have been presented.
customs – Customs is an authority or agency in a country responsible for collecting customs duties and for controlling the flow of animals and goods (including personal effects and hazardous items) in and out of a country.
If you intend to visit or return to Australia by yacht or other small craft you need to ensure that you report your intended arrival to Australian Customs.
means of transport – A general term for the different kinds of transport facilities that are often used to transport people or cargo.
The provisions of the Regulation do not affect the right of Member States to perform controls when means of transport from third countries enter their territory in order to make sure that they are authorised to circulate on their territory or to pass through it.
air freight – a system of transporting freight (goods, cargo) by aircraft
UPS Express Critical can meet the time-critical freight shipment needs of businesses worldwide.
cargo – The goods carried by a ship, an aircraft, or another vehicle.
Interstate Group is a manufacturer of durable, high quality enclosed trailers for cargo, sport, utility, recreational and professional use.
consignment – property sent to an agent for sale, storage, or shipment
This is a form of consignment agreement, where one party (the “Seller”) provides goods to another party (the “Company”) for sale by that Company.
consignee – a person or party to whom something, usually merchandise, is consigned
shipping costs – expenses for shipping (delivering) goods
How are shipping costs calculated? We charge a single flat fee for each shipment, plus additional, smaller fees for each item in that shipment.
shipping documents – A shipping document identifies dangerous goods being handled, offered for transport or transported. It provides the shipping name, class, UN number, packing group, risk group, quantity and other relevant information.
On this web page you will find FREE online customs and shipping forms and documents.
duty – a tax on imports
If you exceed any of the concession limits set out above, Customs will charge you duty and tax on the entire importation or purchase within that group of items.