01

A

123

• AANZFTA	ASEAN - Australian - New Zealand Free Trade Agreement
  Acceptance Credit	A bank guaranteed letter of credit that provides for payment by means of a time draft, payable on presentation of valid trade documents
  Accessories, Spare Parts & Tools	WTO/WCO GATT and GATS Rules of Origin Specific Meaning: A provision that clarifies the origin determination process of accessories, spare parts or tools delivered with a specified shipment of goods with a specific origin
  ACFTA	ASEAN - China Free Trade Area
  ACIS	Advanced Cargo Information System. Electronic platforms that allows logistical information to be shared among interested parties rapidly
  Acknowledgment Order	Message, usually electronic, that acknowledges receipt of an undertaking to accept or confirm trade documents and contracts
  ACP Group	79 African, Caribbean and Pacific (ACP) countries with preferential trading relations with the EU under the Cotonou Agreement
  Acts of the Universal Postal Union	International treaty covering the entry of goods and mail via mail, and specifying the special forms used internationally for mailed goods
  Ad Valorem Equivalent (AVE)	Ad Valorem Equivalent: Non percentage tax that may still be best estimated by its valorem equivalent. For example if a set charge per unit of a product yields the same result as a % against value, then either calculation will result in the same tax or duties being payable
  Ad Valorem Tariff	A tariff rate charged as percentage of the price
  Advance Against Document	Loan made based on security of trade documents, usually a Bill of Lading
  Advance Rulings	Binding Customs resolutions or decisions that affect specified commodities under specified conditions. Under the Revised Kyoto Convention (RKC), Advance Rulings should have an expiry and/or review date.
  AFAS	ASEAN Framework Agreement on Services.
  AHKFTA	ASEAN - Hong Kong Free Trade Agreement
  AIFTA	ASEAN - India Free Trade Area
  Air Freight Forwarder	A freight forwarder who specializes in air cargo, usually acts as a consolidator and issues their own house air bills
  Aircraft General Declaration	Annex 9 of the Chicago Convention of International Civil Aviation defines the requirements that must be reported by an aircraft on departure and arrival, to all interested parties
  Airfreightment	Agreement to price an agreed amount of cargo space for a specific time period, cost and weight. The cost must be paid whether the space is used or not
  AJCEP	ASEAN - Japan Comprehensive Economic Partnership.
  AKFTA	ASEAN - Korea Free Trade Area.
  ALW	WTO/WCO GATT and GATS Rules of Origin Specific Meaning: Rule that permits a Certificate of Origin (COFO) to be conferred on a product when some inputs in the products creation, manufacture or processing, would normally invalidate the product's claimed COFO. Usually applies to specific inputs only
  Andean Community	A trade bloc of four countries - Bolivia, Colombia, Ecuador and Peru. Associate members are Chile, Argentina, Brazil, Paraguay and Uruguay. Observers are Panama, Mexico, and Spain
  APEC	Asia Pacific Economic Cooperation
  API (1)	Application Programming Interface: Communications protocols between computer systems
  API (2)	Advanced Passenger Information system: Provides and records travel movement of natural persons for trade, security and Customs purposes
  Appellate Body WTO	7 member trade dispute appeal body of the WTO
  Applied Rate or Tariff	Actual duties charged on imports
  Arrival Notice	Document advising the consignee of the date and arrival details of a shipment
  Article XX rules	General Exceptions under Article 20 of the GATT rules on trade in Goods that allow the
  ASEAN	Association of Southeast Asian Nations: Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam
  Assist	In international trade, something of value the buyer provides directly or indirectly, free or at a reduced or concealed cost, to reduce the value of provided goods or services. Assists must be accounted for in the Customs Value.
  ATA Carnet	International Customs Document for vehicles that may be submitted in substitute for a Customs Declaration, if the importation is temporary
  ATA Convention	Customs Convention on the ATA (Admission Temporary Admission). Agreement to allow temporary entry of vehicles on a standard form, rather than requiring a Customs Declaration.
  ATC	WTO Agreement on Textiles and Clothing, expired in 2005
  ATIGA	ASEAN Trade in Goods Agreement
  Authorized Consignee	A person or organization empowered by Customs to receive goods directly to their premises, rather than being stopped a the border by Customs
  Authorized Consignor	A person or organization empowered by Customs to export goods directly from their premises, rather than being stopped a the border by Customs
  Automatic Import Licensing	License issued in all cases on application. Automatic licenses may not restricting applicants or they become Technical Barriers to Trade (TBT).
  AWB	Airway Bill: Contract between the airline and the shipper. It is evidence of contract but not ownership.

01

B

123

• B/L	See Bill of Lading
  Basel Convention	Multilateral agreement on imposing and storing hazardous waste
  Berne Convention	World Intellectual Property Organization (WIPO) agreement on protection on the rights of authors
  Bill of Exchange	An unconditional order in writing to make a specific payment to a specific entity for a specific amount at a specific time
  Bill of Lading	Document issued by the carrier or carrier agent for carrying goods. Must be presented as a receipt to allow cargo to be further onforwarded or removed from the carrying vessel, port, site or airport, etc.
  BIT	Bilateral Investment Treaty
  Bonded Cargo	Goods kept in a Warehouse authorized to store Bonded Cargo.
  Bonded Warehouse	Document used in international road movements, usually to cover appended copies of the consignment notes.
  Breakbulk Cargo	Bovine Spongiform Encephalopathy (mad cow disease).
  BTA	Border Tax Adjustment. Tax applied based on where goods are consumed rather than where they are entered.
  Bulk Cargo	Unpackaged or containerized cargo, for example bulk ore shipments, grains etc.

01

C

123

• C&I	Cost and Insurance
  Cabotage	Ship movements between ports in the same country.
  Cairns Group	Group of countries promoting the free trade in agricultural products. Formed 1986.
  CAP	EU Common Agricultural Policy.
  Cargo Declaration	Information submitted to Customs, before, at or after arrival. Different countries will have different requirements.
  Cargo Manifest	A list of all goods carrier on a vessel or other transport type. The Manifest lists all particulars of the goods shipped - marks, numbers types, consignor, consignee, quantities etc.
  CARICOM	Caribbean Community with 15 members: Antigua and Barbuda, Belize, Dominica, Grenada, Haiti, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Bahamas, Barbados, Guyana, Jamaica, Suriname, Trinidad and Tobago.
  CBD	Convention on Biological Diversity
  Certificate of Analysis	Certificate required by some countries that states the goods have met assigned quality, purity, safety or composition standards.
  Certificate of Compliance	Joint document that covers other certificates. Usually phytosanitary, sanitary, technical or veterinary standards and certificates.
  Certificate of Insurance	Certificate that states insurance cover exists and is valid.
  Certificate of Manufacture	Producer statement that specified where the goods were manufactured, and often quality and other compliance conditions.
  Certificate of Origin	Specific legal document that specifies which country goods were deemed to be manufactured, produced or harvested from, and often quality and other compliance conditions.
  CFCs	Chlorofluorocarbons. Ozone depleting substances covered by the international Montreal Agreement. In reality CFCs covers more than Chlorofluorocarbons, the full list comprises of many chemical groups, where chlorine or fluorine may be replaced by Bromine or Iodine, or where the actual chemical composition includes other recognized ozone depleting substances.
  CFR	Cost and freight
  Chargeable Weight	The actual gross weight or the volume weight of the shipment, whichever is greater
  Charter Party Bill of Lading	Bill of Lading issued by a Charter Party. Unlike a Bill of Lading, is not usually accepted by banks without further guarantees of ownership.
  Chemical Reaction (CR)	Chemical Reaction: WTO/WCO GATT and GATS Rules of Origin Specific Meaning: Any goods that are a product of a chemical reaction, shall be considered to originate in the country where the chemical reaction took place. A “chemical reaction” is a process, including a biochemical process, which results in a molecule with a new structure by breaking intramolecular bonds and/orby forming new intramolecular bonds, or by altering the spatial arrangement of atoms in a molecule. The following are not considered to be chemical reactions for the purposes of this definition: (i) dissolving in water or other solvents; (ii) the elimination of solvents including solvent water; or (iii) the addition or elimination of water resulting in crystallization.
  CIF	Cost, Insurance and Freight: The seller covers the costs, insurance, and freight of a buyer's order while in transit.
  CIM Consignment Note	Under the Uniform rules, Appendix B, a note covering transport by rail.
  CIP Paid To	Carriage and Insurance is paid only up to a certain point in a journey. After this the goods must have further payment and carriage arrangements made.
  CITES	Convention on International Trade in Endangered Species.
  Claused Bill of Lading	Bill of Lading that has been been altered to indicate the packaging or contents damaged in transit.
  Clean Bill of Lading	Bill of Lading that has been been altered to indicate the packaging or contents were received in good order and condition.
  Clean Draft	Draft to which no documents have been appended, or which is unaltered from its original state.
  Clearance for Home Use	The formalities that must be satisfied to allow clean release by Customs.
  Clearance of Goods	means the Customs procedure which provides that imported goods enter into free circulation in the Customs territory upon the payment of any import duties and taxes chargeable and the accomplishment of all the necessary Customs formalities
  Clearance.	Customs Procedure that allows good to enter the economy and circulate or be consumed as desired.
  CMR Consignment Note	Contractual document between consignor and road transport operator to carry goods.
  CN22/23	Postal declaration forms issued internationally under Acts of the Universal Postal Union.
  COA	See Certificate of Analysis.
  COD	Cash on Delivery: Transaction where the amount owing is paid in full on delivery of the goods.
  Codex Alimentariusco	WHO/FAO food safety commission. Promotes and sets food standards.
  Collection Order	Document instructing a bank to handle financial and commercial documents or to deliver or process them.
  Collective Paper	All documents submitted by a seller to buyer to facilitate receiving payment for a shipment.
  Combined Transit Duty	All Customs duties of all types
  Compensating Products	Products, replacements, repairs or substitutions for goods previously shipped, or agreed to be supplied.
  Compound Duty Rate	Rate that contains both an Ad Valorem component and a specific rate. So a % duty + a rate specific amount per applicable measure (ton, kilo, unit, volume, etc.).
  Confirmed Letter of Credit	A confirmed letter of credit is a guarantee a exporter gets from a second bank in addition to the first letter of credit. The confirmed letter decreases the risk of default for the exporter. By issuing the confirmed letter, the second bank promises to pay the exporter upon submission of the required documents if the first bank fails to do so.
  Consignee	Person/Company to whom goods were legitimately sent.
  Consignee Mark	Mark that identifies packages during shipment.
  Consignment	Identifiable collection of goods, intended to be transported as a single shipment.
  Consignment  Note	Document that accompanies goods during transport.
  Consignment Security Declaration	Document designed to allow auditors and governments to track and trace shipments and verify that all other relevant documentation for the shipment is in place and is valid.
  Consignment Agreement	Agreement where the seller supplies goods to the buyer, but is paid only after the goods have been on-sold to another party.
  Consignment Item	Quantity of identifiable goods in a Consignment covered by the same HS Code, for transport and/or packaging purposes.
  Consignor	Party that consigns goods to themselves or another party identified on the Bill of Lading.
  Consolidated Shipment	Shipment where more than one shipper pools consignments into a single indefinable shipment.
  Consolidation of Goods	Grouping of consignments to fill a container.
  Consolidator	Agent who combines shipments into a single consignment.
  Consumption Abroad	Mode 2 under agreed Modes of Supply under the General Agreement on Trade in Services under the WTO.
  Container Convention	Customs Convention on Containers 1972.
  Container Manifest	Also known as the Unit Packing List. Specifies the contents of a Container or other transport unit. Prepared by the person loading the Container.
  Container Pool	Common use of containers under the UN/WCO/CCC Container Pool Convention.
  Container Security Initiative	CSI. International Initiative to prevent the use of containers by terrorists.
  Container Terminal	Legally defined area where containers may be loaded, unloaded or stored.
  Contract of Carriage	Contract to carry by sea to an agreed destination. May include carriage by other transport modes before or after the sea voyage.
  Conveyance Report	The transfer of information from a Carrier to Customs for the purpose of meeting Customs procedures.
  Countervailing Duty	Action taken by the importing country, usually in the form of increased duties to offset subsidies given to producers or exporters in the exporting country.
  CPTPP	Comprehensive and Progressive Agreement for Trans-Pacific Partnership, members to date include :Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Viet Nam.
  CRTA	WTO Committee on Regional Trade Agreements
  CTD	WTO Committee on Trade and Development
  CTE	WTO Committee on Trade and Environment
  CTG	WTO Council for Trade in Goods
  CUSREP	See UN/EDIFACT Customs Report message.
  Customs Broker	Defined in the Revised Kyoto Convention (RKC) as a third party who deals with Customs on behalf of a Consignee or Consignor.
  Customs Carrier	Carrier authorized by Customs to carry goods without being accompanied by Customs authorities.
  Customs Container Convention 1972	UN and International Maritime Organization convention describing the transport of goods and defining container standards and recognition.
  Customs Delivery Note	Document issued after customs clearance has been done and inform that goods are released from Customs control.
  Customs Fee	Fee collected by Customs that is not a Duty or Tax. Usually an administration charge to cover processing of of document costs or inspection costs.
  Customs Invoice	Document required by Customs to help establish the true selling price of goods. Includes Freight and Insurance Costs.
  Customs Maritime Zone	Sea area subject to domestic Customs legislation.
  Customs Papers	Papers required to be submitted and processed by Customs before goods may be released.
  Customs Procedure	Treatment(s) applied to goods subject to Customs controls.
  Customs Seal	Seal placed on goods or containers to indicate goods are under Customs control.
  Customs Tariff	Tax on importation, exportation or transit. Payable when goods cross a border.
  Customs Transit	Procedure under which goods are moved from one Customs Control point in the same country to another under Customs control. See also International Transit.
  Customs Treatment of Stores	Customs Procedure for accounting for stores for use by crew on ships or aircraft.
  Customs Valuation	Custom Procedure to determine the cutoms value of goods i.e. value upon which duties will be assessed and paid. WTO requires that this customs value to be the transaction value.  Customs has six tiers of valuation that must be applied sequentially to ascertain value. If a higher tier is found not to be applicable, the next tier down is applied and so on downwards.
  Customs Value	Value of goods determined under Customs Valuation Procedures. Most goods are Valued at Tier 1 - the price paid for the goods is accepted as the Customs Value.
  Customs Warehouse	Warehouse in which specific Customs Procedures are applied to goods. Most Customs Warehouses are approved for a specific purpose, goods type, time period etc. Goods remain under Customs controls in a Customs Warehouse. While goods remain within a Customs Warehouse, duties and taxes payable on those goods are usually fully or partially deferred.
  Customs Warehouse Procedure	The conditions and variations under which a warehouse is regarded as subject to the Customs Warehouse Procedure. This procedure and its variations are detailed in Annex E.3 of the Kyoto Convention 1974, and Specific Annex D, Chapter 1 of the Revised Kyoto Convention.
  CWO (Cash With Order)	Cash With Order. Cash is paid on lodging the order and the the supplier is obligated to supply the goods ordered.

01

D

123

• DAF	Delivered at frontier: Delivered to Frontier of an adjoining country. Goods are deposited at the frontier by the seller under DAF are cleared for export, however all import requirements are the responsibility of the buyer.
  Dangerous Goods  Declaration	Document issued by a Consignor that conforms to conventions and regulations relating to the storage, packaging and transport of dangerous goods.
  Dangerous Goods (Road Transport)	Goods classified as dangerous under the European Agreement concerning the International Carriage of Dangerous Goods by Road (ADR) 1957.
  Dangerous Goods Shippers Declaration	DGD. Document managed by IATA and internationally recognized and required for dangerous goods. Management includes ensuring goods are packed, labeled and marked to conform with IATA requirements. The electronic version of the Declarations is the e-DGD.
  DAP	Delivered at Place. The seller is solely responsible for moving the goods to a specified location and takes and pays all associated risks and costs.
  DAT	Delivered at Terminal. The seller is responsible simply for moving the goods to an agreed terminal (land, sea or air) and pays costs until then. After delivered at terminal, the buyer is responsible once the goods have arrive at the terminal.
  DDA	Doha Development Agenda: Doha work and implementation agenda, begun in Qatar in 2001.
  DDP	Delivered Duty Paid. This includes an obligation by the seller to arrange both export and import of the goods at the end destination.
  De Maximius	The maximum Customs value that if exceeded, must result in a full, formal import declaration being lodged.
  Dead Freight	Amount that must be paid by a shipper for space/weight/volume they have requested but not used.
  Declaration of Origin	A statement as to country of origin by an appropriate person in an approved fashion.
  Deferred Duty	Monies that may be deferred for an agreed period of time and under agreed conditions. Monies become payable at the end of this period unless further arrangements are entered in to, or if the conditions under which payment has been deferred are breached.
  Deferred Tax	Monies that may be deferred for an agreed period of time and under agreed conditions. Monies become payable at the end of this period unless further arrangements are entered in to, or if the conditions under which payment has been deferred are breached.
  Delivery Notice (Goods)	Written or electronic communication by the carrier informing the sender the actual date of delivery.
  Delivery Order	Document authorizing release of goods to the consignee.
  Delivery Party	Person to whom goods should be delivered. This may not be the consignee, but an intermediary person or location as part of the delivery journey.
  Delivery Release	Buyer document releasing goods after receipt of ready to dispatch notice, usually from the seller.
  Demurrage	Additional sum that must be paid for storage if goods are not collevted before an agreed date.
  Direct Transport	WTO/WCO GATT and GATS Rules of Origin Specific Meaning: A provision requiring goods that are claiming preferential treatment under an FTA to be shipped directly from the FTA country of origin to the FTA country of destination.
  Discrepancies	WTO/WCO GATT and GATS Rules of Origin Specific Meaning: Minor errors or discrepancies in the certification of origin.
  Discrimination in Trade	Legal regime where foreign entities operating in a country have less sights than local parties.
  Dispatch Advice	Note advising consignee that goods have been dispatched.
  Dispatch Note (Parcel Post)	Document used for postal delivery and specified under Article 106 of "The Agreement Concerning Postal Parcels".
  Dispatch Order	Supplier issued document initiating dispatch.
  Dock Receipt	Receipt issued by a shipping company as proof of receiving the goods for shipment.
  Document Against Acceptance	D/A is an arrangement in which an exporter instructs a bank to discharge shipping and title documents to an importer only if the importer accepts the accompanying bill of exchange or draft by signing it. Without the shipping document, the importer would not be able to take delivery of the goods by the shipper.
  Documentary Shipper	D/P is an arrangement in which an exporter instructs a bank to discharge shipping and title documents to an importer only if the importer agree to pay. Without the shipping document, the importer would not be able to take delivery of the goods by the shipper.
  DOHA Round	A person other than the shipper who accepts being named as the shipper.
  DSB	Duties and taxes repaid by Customs to an importer on goods that were imported and then exported out again.
  Dumping	Dispute Settlement Body — when the WTO General Council meets to settle trade disputes

01

E

123

• EEP	Occurs when goods are exported at a price less than their normal value, generally meaning they are exported for less than they are sold in the domestic market or third-country markets, or at less than production cost.
  EEZ	US Export Enhancement Programmed - export subsidy program designed to off set EU subsidies.
  EFTA	Exclusive Economic Zone. Generally accepted to extend to 200 nautical miles form shore, or to an agreed point with a neighboring country.
  Environmental Goods and Services	European Free Trade Association.
  EPM	Six categories of Goods and Services with environmental improvement foci: air pollution control, carbon capture and storage, environmental technologies (environment monitoring technologies, waste and heat/emission control technologies) , renewable energy, waste management and water treatment.
  EST/ESTP	Export Performance Measure: Requirement that sets the volume, value or quantity or a commodity that must be exported.
  EU	Environmental sound technologies or products.
  Ex Ante, Ex Post	European Union.
  Exception to change in Tariff Classification (ECT)	Before and after a Measure is applied.
  Exhibitions	Date at which Intellectual Property rights cease in international trade.
  Export Competition Decision	WTO/WCO GATT and GATS Rules of Origin Specific Meaning: Provision which allows goods normally regarded as origin compliant, to be purchased in a third party (non-FTA) country during an exhibition and imported into an FTA country under preferential treatment.
  Export Permit	Decisions on Export competition under the WTO Agreement on Agriculture, reached in 2015, Nairobi, Kenya.

01

F

123

• FAO	UN Food & Agricultural Organization.
  FDI	Foreign Direct Investment.
  FOB	Free on Board: Value excluding Freight and Insurance - see CIF, The buyer pays the shipping cost and is responsible if the goods are damaged while in transit
  Foreign Commercial Prescence	Mode 3 under agreed Modes of Supply under the General Agreement on Trade in Services under the WTO where a service provider set up its office, branch, or subsidary in a foreign country.
  Free Trade Area	Area where member states charge no duties between themselves, but members may charge similar or different duties on countries outside the Free Trade Area. See FTA - Free Trade Agreement.
  FTA	Free Trade Agreement. Agreement between countries not to charge duty on the others commodities. FTAs are usually implemented over a time schedule, with different commodities having different but reducing tax rates over a period of time.

01

G

123

• G7	Canada, France, Germany, Italy, Japan, United Kingdom, United States.
  G8	Canada, France, Germany, Italy, Japan, Russia, United Kingdom, United States.
  GATS	General Agreement on Trade in Services under the WTO.
  GATT	General Agreement on Tariffs and Trade under the WTO.
  Generics	Copies of patented pharmaceutical products/sometimes treatments or ones whose patents have expired.
  Geographical Indicator	In international trade, restrictions on marketing or recognition to products from a particular area only, for example only sparkling white wine from the Champagne region of France may be marketed as Champagne.
  GOs	Obligations on how to recognize and manage Trade in Services under GATS.
  Government Use	In international Trade, right of a government to produce, restrict or use products and services itself, regardless of patent or trademark ownership.
  GRULAC	Group of Latin America and Caribbean Countries: An informal regional group of the WTO.
  GSP	Generalized System of Preferences: System where developed countries grants preferential tariffs to other recognized developing countries.

01

H

123

• Harmonized System	Six digit commodity classification system of WCO (HS Code system). After 6 digits, counties may code as desired.
  Harmonizing Formulae	Agreement to reduce Tariffs faster than an already agreed rate.
  HS Code - Six Digit	The officially recognized minimum HS Code length that must be used by all WCO members to describe commodities when traded internationally.
  HS Code System	Alternate name for the Harmonized System.
  HS System	See Harmonized system and HS Code - Six Digit.

01

I

123

• Identical and Interchangeable Materials	WTO/WCO GATT and GATS Rules of Origin Specific Meaning: Goods manufactured utilizing originating and non-originating materials, mixed or physically combined
  IFIA	International Federation of Inspection Agencies: This name has now expired and they are known as the TIC Council.
  ILO	International Labour Organization: The ILO administers and monitors a number of international agreements that cover the movement of natural persons for work, conditions of workers in commodity producing (for example salve labor); and in the protection of intellectual property rights of workers, artists and performers and other Trade in Service providers.
  IMF	International Monetary Fund.
  INCOTERMS	Internationally agreed acronyms and terms to be used to describe international trade, for example, FOB, CIF, Ad Valorem, etc.
  Independent Entity	In Trade Agreements and international trade, the body drawn from the International Chamber of Commerce and International Federation of Inspection Agencies that decides disputes between PSI companies and exporters.
  International Transit	Customs procedure that allows goods to pass through a country without being deemed to have entered that country's economy.
  IOE	International Office of Epizootics: Body that sets international animal health standards, including setting animal transport standards, during exporting from one country to another.
  IPR	Intellectual Property Rights
  ITA	information Technology Agreement, previously the Ministerial-Declaration on Trade in Information Technology Products.
  ITA II	Current, unfished negotiation round to expand ITA coverage. Recognized in some Trade Agreements, although not finalized.
  ITC	International Trade Centre: a organization set up jointly and the UN and WTO to promote trade and sustainable development.
  ITCB	International Textiles and Clothing Bureau: Bureau representing 20 developing countries which export textiles and clothing.
  IUU Fishing	Illegal , Unreported and Unregulated fishing. May be referenced for mutual control of this behavior in trade agreements and by the trade and practice recommendations of the FAO.

01

K

123

• Kyoto Convention	1952 WCO protocol to simplify and harmonize international Customs standards to facilitate international trade. Replaced by the Revised Kyoto Convention in 1973.
  Kyoto Protocol	1997 protocol extending the 1992 United National Framework Convention on Climate Change. Not to be be confused with the Kyoto Convention and Revised Kyoto Conventions which cover Customs controls and Trade Facilitation.

01

L

123

• LCA	Life Cycle Analysis: In international trade, a methodology for determining if a commodity, product or service meets an agreed standard to be considered Environmentally Friendly.
  LCM	Local Content Measure: Requirement for an investor to buy an agreed amount, quantity or value of local commodities or services for incorporation in the investors products or services.
  LDCs	Least Developed Countries.
  Lisbon Agreement	WIPO administered agreement that protects rights identified under Geographical Indicators.

01

M

123

• Madrid Agreement	WIPO administered agreement that helps suppress and discourage false, fake, deceptive or misleading claims pertaining to the origin of commodities.
  Mailbox	In international Trade, the 1995 WTO agreement for member countries without strong or existing patent protection rules, to grant exclusive rights to owners of international patents and trademarks for pharmaceuticals and agricultural chemicals.
  Marrakech Decision	Full title is Marrakech Decision on the Measures Concerning the Possible Negative Effects of the Reform Program on Least-Developed and Net Food-Importing Developing Countries. WTO agreement to mitigate effects of food import competition on small producers.
  Material Used In Production	Viet Nam specific term: Rules covering the use of non-originating materials in the production of goods, that otherwise satisfies the requirement of the Viet Nam MOIT Rules of Origin Circular 03/2019/TT-BCT.
  MEA	Multilateral Environmental Agreement
  MERCOSUR	Trade bloc comprised of Argentina, Brazil, Paraguay and Uruguay.
  MFA	Multifiber Arrangement (1974-94). Expired agreement to protect manufactures in countries disrupted by the entry of competing products.
  MFN	Most-favoured-nation treatment (GATT Article I, GATS Article II and TRIPS Article 4), the principle of not discriminating between one’s trading partners
  MIP	Minimum Import Price: Minimum price imposed on imports, usually to protect local manufacture.
  MOD	Mode of Delivery: In the General Agreement on Trade in Services, MOD describes how services are supplied by 4 agreed modes: Mode 1: cross border supply; mode 2: consumption abroad; mode 3: foreign commercial presence; and mode 4: movement of natural persons.
  Montreal Protocol	International treaty defining the use of CFCs and related Ozone depleting substances.
  Movement of Natural Person	Mode 4 under agreed Modes of Supply under the General Agreement on Trade in Services under the WTO.
  MPS	Market Support Price: Minimum price set by governments for specific agricultural products. Usually used to protect small food producers or to ensure food security.
  Multi-Modal delivery	Delivery of goods and services by more than one transport or modality type. Usually reserved to describe door-to-door deliveries.

01

N

123

• NAFTA	North American Free Trade Agreement: it was signed by Canada, Mexico and the US.
  NAMA	Non-agricultural market access: In international trade and trade agreements, NAMA includes access for industrial, fisheries and forestry products.
  National Schedules	Trade in Services schedules accepted by WTO members.
  National Treatment	The principle of giving others the same treatment as one’s own nationals. GATT Article 3 requires that imports be treated no less favourably than the same or similar domestically-produced goods once they have passed customs. GATS Article 17 and TRIPS Article 3 also deal with national treatment for services and intellectual property protection
  NC	Rules of Origin Specific Meaning: Non-originating inputs are not required to be classified in a different HS code from the final HS Code of the products the inputs are incorporated in to, consumed or input in to.
  Net Cost	Viet Nam Specific Meaning: Net Cost, or Net Cost of Goods: Value calculation method specified under the Viet Nam Article 12 of Circular 03/2019/TT-BCT. The NC forms one of the indicators used to calculate the Regional Value Content of motor vehicles.
  Net Food-Importing Developing Countries	Countries recognized under the Marrakech Decision as beneficiaries to mitigate the effects of competition by the import of bulk foreign food products, including farm and agricultural products and grains.
  Neutral Elements	Rules of Origin Specific Meaning: A provision which specifies that the origin of certain materials (referred to as indirect or neutral) used in the production process should not be taken into account when determining the origin of the final goods.

01

P

123

• Paragraph 6 System	Public Health waiver under the TRIPS Agreement to allow countries to manufacture pharmaceuticals for export despite intellectual property protection. Export must be countries that cannot themselves manufacture.
  Parallel Imports	Legitimate goods imported in to a country legally by a channel that circumvents the claimed or real rights of a patent, trademark or intellectual property owner. Parallel Imports are fully legitimate and the practice is often permitted to challenge restrictive trade practices exercised by manufacturers or distributors or companies exercising monopoly powers over a market.
  Paris Convention	World Intellectual Property Organization (WIPO) administered treaty to protect industrial intellectual property.
  Peace Clause	In international trade, now expired Provision in Article 13 of the Agriculture Agreement saying agricultural subsidies previously agreed to; cannot be challenged under other WTO agreements, including GATT.
  Piracy	Unauthorized copying of materials protected by intellectual property rights (such as copyright, trademarks, patents, geographical indications, etc) for commercial purposes and unauthorized commercial dealing in copied materials
  PPM	Process and Production Method: Method used by some countries to attempt to regulate or ascertain the origin and value of goods in international trade by monitoring Inputs and Processing Technologies used to produce, change or process commodities.
  Price Undertaking	Agreement by an exporter to raise the cost of a commodity to avoid Dumping Duties.
  Priority	HS Code WCO/WTO rule that states that: Rules & Nomenclature that apply to a Heading take precedence over rules that apply to the Chapter containing that Heading; AND Rules applicable to a Subheading shall prevail over rules applicable to the Heading or Chapter containing the Subheading;
  Product Mandating	Requirement or obligation on an investor to export to certain countries or regions.
  Protocols	Often used to describe the following: 1st Protocol - Additional agreements attached to the GATS, 2nd Protocol - 1995 Commitments on Financial Services, 3rd Protocol movement of natural persons (people), 4th Protocol - Trade in Telecommunications Services, 5th Protocol - Trade in Financial Services.
  PSI	Pre-Shipment inspection: Pre-export inspection of goods, usually in the country of origin, by specialized private inspection companies.
  PTA	Preferential Trade Agreements: Preferences, such as lower or zero tariffs, which a WTO member unilaterally extend to another member country.

01

Q

123

• QR	Quantitative Restrictions: Specific restriction on the quantity, value or volume of goods that can be imported or exported over a specific period of time.

01

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• RCEP	Regional Comprehensive Partnership: Members are Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, South Korea, Thailand, and Vietnam.
  Regionalization	In international trade, recognition that a region, or part of a region or country is free from a a disease or pest subject to phytosanitary control measures.
  RKC	Revised Kyoto Convention. 1973 WCO brokered convention promoting Trade Facilitation between member countries.
  Rome Convention	Treaty administered by: WIPO, United Nations Educational, Scientific and Cultural Organization (UNESCO) and International Labour Organization (ILO), to protect the works of performers, broadcasters and phonograph producers.
  RTA	Regional Trade Agreement: Agreement between two or more countries to liberalize trade in commodities and services.

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• SACU	Southern African Customs Union comprising Botswana, Lesotho, Namibia, South Africa and Eswatini (formerly Swaziland).
  Safe Guard Measures	Action taken to protect a specific industry from an unexpected build-up of imports — generally governed by Article 19 of GATT. The Agriculture Agreement and Textiles and Clothing Agreement have different specific types of safeguards: “special safeguards” in agriculture, and “transitional safeguards” in textiles and clothing
  Schedules	In international trade, WTO member's commitments on market access; for example tariff rate, access to services markets, and how goods and services are treated within those markets.
  Small, Vulnerable, Countries	SVEs: WTO Group of developing countries seeking protection from more developed competing economies.
  Special Agricultural Safeguard	SSG: Article 5 of WTO Agreement on Agriculture permitting some countries to apply exceptional tariffs or duties to control price movements.
  Specific Tariff	Tariff specified by a fixed currency amount per specific commodity measurement type; for example $ per kilo or ton, or $ per Unit.
  SPS	Sanitary and Phytosanitary Measures:  Measures dealing with: food safety, animal and plant health. 1) SS: Sanitary: Human and /or Animal health. 2) Phytosanitary: Plants and Plant products.
  SPS Equivalence	Recognition - often reciprocal recognition, of another countries Sanitary and Phytosanitary measures and controls.
  SSM	See SSGs and Special Agricultural Safeguard.
  Supporting Documents	WTO/WCO GATT and GATS Rules of Origin Specific Meaning: A provision that lists documentation relating to imports of preferential goods that needs to be submitted at the point of import in addition to the proof of origin.

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• Tariff Binding	Maximum duty level on a product as agreed under a Trade Agreement between different countries.
  Tariff Escalation	In trade agreements, occasions where lower tariffs are applied on raw or particular processed products and commodities, than when those same products are further processed. Usually instituted to protect local manufactures or producers.
  Tariff Quota	Import regime where lower tariff rates are applied to a commodity until a trigger point is exceeded, at which point higher or different tariffs apply.
  Tariffication	Process under which the costs imposed by NTMs are converted in to equivalent cost tariffs.
  TIC Council	Formerly the IFIA. Trade association designed to promote co-operation between international inspection agencies, cargo controllers, laboratories, and allied businesses.
  TRAINS Online	Trade Analysis Information System: UNCTAD Non Tariff Measures Website.

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• UKVFTA	United Kingdom Vietnam Free Trade Agreement.
  UN Food & Agricultural Organization	See FAO. Often referred to as FAO in Trade Agreements.
  UN/EDIFACT Customs Report message	Also known as CUSREP.
  UNCTAD	United Nations Conference on Trade and Development.
  Unit Packing List	See Container Manifest.
  Uruguay Round	WTO Multilateral trade negotiations launched at Punta del Este, Uruguay, in 1986 and concluded in Switzerland in 1993.

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• VCFTA	Vietnam Chile Free Trade Agreement
  VNTR	Vietnam National Trade Repository

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• WB	World Bank
  WCO	World Customs Organization
  WITS	World Integrated Trade Solution: World Bank ICT system reporting on international trade statistics, Tariffs and Non-Tariff Measures.
  WTO	World Trade Organization