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Glossary of Trade Terms

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@ - At (referring to price)
A.A.D. - Annual aggregate deductible
a.a.r. - Against all risks
A.B.S. - American Bureau of Shipping is an American ship classification society.
a.c. - Account
A.C.A.S. - "Advisory, Conciliation and Arbitration Service"
A.C.I.I. - Associate of Chartered Insurance Institute
A.F. - Advanced freight
a.f.a.a. - as far as applicable
A.G.W.I. - "Atlantic, Gulf, West Indies Limits"
A.I.M.U. - American Institute of Marine Underwriters
A.I.R.M.I.C. - Association of Insurance and Risk Managers in Industry and Commerce "Fonds Africain de Developpement, FAD) is an affiliate of the African Development Bank (AfDB) which provides interest-free loans to African countries for projects which promote economic and social development and improve international trade among members" 

A.M.I. - Absolute maximum loss  
A.M.V.E.R. - Automated Mutual-Assistance Vessel Rescue  
A.O. Voy. - Any one voyage
A.O.B. - Any one bottom
A.O.E. - Any one event  
A.O.L. - Any one loss  
a.o.loc. - Any one location  
A.O.O. - Any one occurrence
A.O.R. - Any one risk
A.O.V. - Any one vessel
A.P. - Additional premium  
A.P.L. - As per list
A.R. - All risks
A.S.E.A.N. - Association of South East Asian Nations
A.T.L. - Actual total loss
A/C - Account current
A/o - Account of
A/P - Additional premium
A/R - All risks. Against all risks
A/S - "After sight, Account sales, Alongside (chartering)"
A/T - American terms (grain trade)
A/v - "Average, ad valorem (according to value)"
AADFI - Association of African Development Finance Institutions
AAEI - American Association of Exporters and Importers
AAIB - Arab-African International Bank
AATP - Association of African Trade Promotion Organizations
ABC - American Business Center
ABCA - Association des Banques Centrales Africaines
Abdnt. - Abandonment
ABEDA - Arab Bank for Economic Development in Africa
ABI - "American Business Initiative, Automated Broker Interface"
Abt. - About
Abu Dhabi Fund for Arab Economic Development. - "ADFAED promotes economic and social development in African, Arab, and Asian developing countries. The Fund, which was created in July 1971, began operations in September 1974; headquarters are in Abu Dhabi"
ACAB - Association of Central African Banks
ACC - Arab Cooperation Council
Acc. - Acceptance. Accepted
Accession - "Accession is the process by which a country becomes a member of an international agreement, such as the General Agreement on Tariffs and Trade (GATT) or the European Community. Accession to the GATT involves negotiations to determine the specific obligation.
Accession - "This refers, in general, to the process of a country joining the GATT. During accession to the GATT, a country accords tariff and other concessions that are its 'price of admission' to the GATT. Although accession to the GATT binds a country to the Genera"
ACCJ - American Chamber of Commerce in Japan
accomplished bill of lading - Original bill of lading surrendered to the carrying ship at the discharge port in exchange for the goods.
ACCT - Agency for Cultural and Technical Cooperation
Acct - Account
ACEP - Advisory Committee on Export Policy
ACH - Automated Clearinghouse
ACP - "African, Caribbean, and Pacific"
ACP - "African, Caribbean and Pacific States"
ACPC - Association of Coffee Producing Countries
ACS - Automated Commercial System
ACTPN - Advisory Committee on Trade Policy and Negotiations
ACU - Asian Clearing Union
AD - Antidumping
Ad Val - Ad Valorem
Ad Valorem - "Literally: according to value. Any charge, tax, or duty that is applied as a percentage of value. "
Ad Valorem Equivalent - "AVE is the rate of duty which would have been required on dutiable imports under that item, if the United States customs value of such imports were based on the United States port of entry value. "
AD Valorem Tariff - "A tariff assessed as a percentage of the value of the goods cleared through customs. For example, 10 percent Ad Valorem means the tariff is 10 percent of the value of the goods."
Ad. val. - Ad valorem-according to value
ADB - Asian Development Bank
ADF - "African Development Foundation, African Development Fund, Asian Development Fund"
ADFAED - Abu Dhabi Fund for Arab Economic Development
Administrative Exception Notes - "CoCom controls exports at three levels, depending on the item and the proposed destination. At the lowest level, ""national discretion"" (also called ""administrative exception""), a member nation may approve the export on its own, but CoCom must be notified"
Administrative Protective Order - "An Administrative Protective Order, APO, is used to protect proprietary data that is obtained during an administrative proceeding. Within Commerce, APO is most frequently used in connection with Antidumping and Countervailing Duty investigations."
Administrative Review - "Each year, beginning on the anniversary of the date of publication of an antidumping duty order, the Commerce Department's International Trade Administration is required to review and determine the amount of any antidumping duty."
ADRs - American Depository Receipts
ADS - Agent Distributor Service ADS provides a custom search overseas for interested and qualified foreign representatives on behalf of a U.S. exporter. Officers abroad conduct the search and prepare a report identifying up to six foreign prospects that have examined the U.S. firm's product literature and have expressed interest in representing the U.S. firm's products.
Advisory Committee on Trade Negotiations (ACTN) - "A group appointed by the U.S. President to advise him on matters of trade policy and related issues, including trade agreements."
Advisory Committee on Trade Policy and Negotiations - "The ACTPN is a group (membership of 45; two-year terms) appointed by the President to provide advice on matters of trade policy and related issues, including trade agreements. The 1974 Trade Act requires the ACTPN's establishment and broad representation"
Advocacy Center - "The Advocacy Center, established in November 1993, facilitates high-level U.S. official advocacy to assist U.S. firms competing for major projects and procurements worldwide."
AEF - Africa Enterprise Fund
AEN - Administrative Exception Note
AERP - Automated Export Reporting Program
AfDB - African Development Bank
AfDF - African Development Fund
AFESD - Arab Fund for Economic and Social Development
Affiliate - An affiliate is a business enterprise located in one country which is directly or indirectly owned or controlled by a person of another country to the extent of 10 percent or more of its voting securities for an incorporated business enterprise or an equivalent.
Affiliated Foreign Group - "An affiliated foreign group means (a) the foreign parent, (b) any foreign person, proceeding up the foreign parent's ownership chain, which owns more than 50 percent of the person below it up to and including that person which is not owned more than 50 percent"
"Affreightment, contract of " - "An agreement by a steamship line to provide cargo space on a vessel at a specified time for a specified price to accommodate an exporter or importer, who then becomes liable for payment even if he is later unable to make the shipment."
AFREXIMBANKAfrican Export-Import Bank -
Africa Enterprise Fund - "The AEF, operating under the International Finance Corporation, began operations in late 1989. The Fund assists small and medium-size enterprises in sub-Saharan Africa, supports investment projects, and promotes development of private enterprises in Africa"
Africa Project Development Facility - The APDF seeks to accelerate development of productive enterprises sponsored by private African entrepreneurs as a means of generating self-sustained economic growth and productive employment in Sub-Saharan Africa. The facility provides advisory services
African Development Bank - AfDB (French: Banque Africaine de Developement) provides financing through direct loans to African member states to cover the foreign exchange costs incurred in Bank-approved development projects in those countries. Fifty-one African countries are members.
African Development Foundation - "ADF provides economic assistance to groups and institutions involved in development projects at the local level. The foundation's assistance, designed as a complement to the U.S. foreign aid program, is awarded only to native African organizations."
African Development Fund - The ADF (or AfDF) (French:
African Export-Import Bank - "AFREXIMBANK offers short-term export trade financing to African exporters aimed at enhancing intra-African trade and Africa's exports. Agreement to create the bank was based on a January 1993 agreement reached in Cairo, Egypt among African governments, ce"
African Management Services Company - "AMSCO provides temporary managers and management training to support the development of African companies. AMSCO works through a network of representatives in Africa; its clients include privately owned companies, public sector companies, and subsidiaries"
African Regional Organization for Standardization - "ARSO (French: Organisation Regionale Africaine de Normalisation, ORAN) promotes and co-ordinates standardization, quality control, certification, and metrology practices in Africa.
AFTA - ASEAN Free Trade Area
After Date - "A term used on a draft, bill of exchange or note indicating the date from which a draft will begin counting days until maturity. If an exporter draws a draft and stipulates a payment ""30 days after date"", the draft is due 30 days from the date on which it"
Agency for International Development - "AID was created in 1961 to administer foreign economic assistance programs of the U.S. Government. AID has field missions and representatives in approximately 70 developing countries in Africa, Latin America, the Caribbean, and the Near East. "
Agent/Distributor Service - "The Agent/Distributor Service, ADS, is an International Trade Administration (ITA) fee-based service which locates foreign import agents and distributors."
Agrement - Agreement by one government to accept the accreditation of an ambassador from another government.
Agricultural Marketing Service - "Among its activities, the Agriculture Deparment's AMS is available to foreign buyers to assure that any product shipped overseas meets contract specifications. The service is operated on a user-fee basis. AMS works with the buyers to write a specification."
Agricultural Officers - "Agricultural officers are embassy officials who are responsible for addressing agricultural trade policy issues and preparing reports on agricultural commodities such as rice, wheat, and dairy products."
AGRIS - Agriculture Information System
Agt. - "Agent, Against, Agreement"
AIB - Arab International Bank
AIBD - Association of International Bond Dealers
AID - Agency for International Development
AIES - Automated Information Exchange System
AIMS - Agriculture Information and Marketing Services
Air Cargo Agent - A type of freight forwarder who specializes in air cargo and acts for airlines that pay him a fee (usually 5%). The Air Cargo Agent is registered with the International Air Transport Association (IATA).
Air Freight Forwarder - "A type of freight forwarder who specializes in air cargo. The Air Freight Forwarder usually consolidates the air shipments of various exporters, charging them for actual weight and deriving his profit by paying the airline the lower consolidated rate."
Air Waybill - "An AWB is a bill of lading which covers both domestic and international flights transporting goods to a specified destination. Technically, it is a non-negotiable instrument of air transport which serves as a receipt for the shipper."
Air Waybill (Of Lading) - "A signed receipt and a contract to deliver goods by air. Such bills are non-negotiable and do not convey title to the goods as do ""To Orders"" bills of lading used by ocean and land carriers. The title passes to the party to whom the goods are consigned."
AIST - Agency for Industrial Science Technology
AIT - American Institute in Taiwan
AKA - Ausfuhrkredit-Gesellschaft
Aktiengesellschaft - "AG (German, meaning: ""stock company"") is a corporation with a separate legal personality which must have at least five partners. The firm name usually reflects the activities of the company and must include ""AG."" "
ALADI - Asociacion Latinoamericana de Integracion
ALIDE - "Association Latinoamericana de Institutiones Financieras, de Desarrollo"
All Risks Coverage - "All Risks Coverage, a type of marine insurance, is the broadest kind of standard coverage, but excludes damage caused by war, strikes, and riots."
All-Risk Clause - An insurance provision that all loss or damage to goods is insured except inherent vice (self-caused).
Alongside - "A phrase referring to the side of a ship. Goods to be delivered ""alongside"" are to be placed on the dock or lighter within reach of the transport ship's tackle so that they can be loaded aboard the ship. Goods are delivered to the port of embarkation."
AMB - Ambassador
AMCHAM - American Chamber of Commerce
Amendments - Article XXX of the GATT Agreement provides that amendments (that become effective upon acceptance by two thirds of the Contracting Parties) are to be effective only for those parties which accept them.
American Business Center - "The ABC program provides U.S. companies which are exploring or establishing commercial opportunities in the Newly Independent States of the former Soviet Union with business services such as telephone and fax, temporary office space, market information."
American Business Initiative - "The ABI, or American Business and Private Sector Development Initiative for Eastern Europe, emphasizes the export of American telecommunciations, energy, environment, housing, and agriculture products and services to Eastern European countries."
American Depository Receipts - "ADRs are negotiable receipts for the securities of a foreign company which are kept in the vaults of an American bank, allowing Americans to trade the foreign securities in the United States while accruing any dividends and capital gains. "
American Institute in Taiwan - "The AIT is a non-profit corporation that represents U.S. commerical, cultural, and other interests in Taiwan in lieu of an embassy. In 1979, the United States terminated formal diplomatic relations with Taiwan when it recognized the People's Republic of China."
American Traders Index - "The American Traders Index, ATI, is the U.S. and Foreign Commercial Service headquarters compilation of individual US&FCS domestic client files, for use by overseas posts to generate mailing lists. "
AMF - Arab Monetary Fund
AMS - "Agricultural Marketing Service, Automated Manifest System"
AMSC - African Management Services Company
amt. - Amount
AMU - Arab Maghreb Union
Andean Group - The Andean Group (Spanish: Grupo Andino; sometimes referred to as Pacto Andino or Corporation Adino de Fomento; formal reference is Acuerdo de Cartegana in recognition of the Group's establishment in Cartegena in October 1969) is an association of Latin States
Andean Reserve Fund - "The Andean Reserve Fund (Spanish: Fondo Andina de Reservas), associated with the Andean Group, was established to strengthen the balance of payments positions of member countries by offering credit, guarantee loans, and promoting compatibility among members"
Andean Trade Preference Act - "The ATPA is a unilateral trade benefit program designed to promote economic development through private sector initiative in the four Andean countries of Bolivia, Colombia, Ecuador, and Peru. The ATPA encourages alternatives to coca cultivation and production"
ANF - Arrival notification form
Anti-Dumping Clause - A tariff imposed to discourage sale of foreign goods in the United States market at very low prices (below foreign country's domestic market) which might hurt U.S. manufacturers.
Antidumping - "Antidumping, as a reference to the system of laws to remedy dumping, is defined as a converse of dumping."
Antidumping Duty - A duty assessed on imported merchandise which is subject to an antidumping duty order. The antidumping duty is assessed on an entry-by-entry basis in an amount equal to the difference between the United States price of that entry and the foreign market value.
Antidumping Duty Order - "A notice issued following final determination of sales at less than fair value and material injury, or threat of material injury, providing for the imposition of antidumping duties."
Antidumping Investigation Notice - The notice published in the Federal Register announcing the initiation of an antidumping investigation. An investigation must be initiated within 20 days of the filing of a valid petition.
Antidumping Petition - "A petition filed on behalf of an affected United States industry, alleging that foreign merchandise is being sold in the United States at ""less than fair value"" and that such sales are causing or threatening material injury to, or materially retarding."
Antidumping/Countervailing Duty System - "The Antidumping/Countervailing Duty System, a part of Customs' Automated Commercial System, contains a case reference database and a statistical reporting system to capture data for International Trade Commission reports on antidumping and countervailing "
AOSIS - Alliance of Small Island States
AP - Administrative Protective Order
APAC - Auto Parts Advisory Committee
APDF - Africa Project Development Facility
APEC - Asian-Pacific Economic Cooperation
API - American Petroleum Institute
Appd. - Approved
Arab Bank for Economic Development in Africa - The ABEDA (French: Banque Arabe pour le Developpement Economique en Afrique -- BADEA) was created by the League of Arab States in November 1973 (began operations in March 1975) to promote economic and technical cooperation between Arab and African states
Arab Cooperation Council - "The ACC was created in 1989 to promote economic cooperation and integration. Members include Egypt, Iraq, Jordan, and North Yemen. The ACC, partly intended as a counterpart to Gulf Cooperation Council, was created one day subsequent to the establishment"
Arab Fund for Economic and Social Development - "AFESD promotes regional economic integration and social development in Arab states. Members include: Algeria, Bahrain, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia,"
Arab International Bank - "The AIB provides financing to support development of foreign trade among member nations and other Arab states. The Bank was established in October 1971; headquarters are in Cairo, Egypt. Member include: the governments of Oman, Qatar, and United Arab Emirates"
Arab Maghreb Union - "The AMU (French: Union du Maghreb Arabe, UMA) encompasses Algeria, Libya, Mauritania, Morocco, and Tunisia. The Union was established in February 1989 to foster integration of the Maghreb economy. The Union also seeks to join the AMU and the Gulf Coope"
Arab Monetary Fund - "The AMF, originally aimed at correcting chronic deficits in the balance of payments in most member states, promotes Arab integration in monetary and economic affairs. 
Arab Trade Financing Program - "The ATFP promotes trade among Arab countries and exports from Arab countries. The Program was established in 1989 by the Arab Monetary Fund; headquarters are in Abu Dhabi, United Arab Emirates. "
Arab-African International Bank - The AAIB is a pan-Arab consortium incorporated in 1964 as a self-governing autonomous entity between the Ministry of Finance of Kuwait and the Central Bank of Egypt; each of which as co-founders hold 49.37% of the Bank's shares.
Arbitrage - The simultaneous buying and selling of the same commodity or foreign exchange in two or more markets in order to take advantage of price differentials.
Arbitrage - The practice of exchanging the currency of one country for that of another or a series of countries to gain an advantage from the differences in exchange rates.
Arbitration Clause - A clause in a sales contract outlining the method under which disputes will be settled.
Arr. T. L. - Arranged total loss
Arrangement on Guidelines for Officially Supported Export Credits - "The Arrangement is an international agreement under Organization for Economic Cooperation and Development auspices governing the conditions -- such as interest rate, repayment term, and cash downpayment -- of medium- and long-term official export credit; "
arrest - Seizure of a ship by an authority of a court of law either as a debt security or to prevent the ship from departing until a dispute is settled.
ARS - African Regional Organization for Standardization
AsDF - Asian Development Fund
ASEAN - Association of Southeast Asian Nations
ASEAN Free Trade Area - "The Association of Southeast Asian Nations (ASEAN) agreed in January 1992 to create a free trade area (ASEAN Free Trade Area, or AFTA) with use of a common effective preferential tariff. Under the agreement ASEAN members will cut tariff rates within 15 years"
Asia Pacific Economic Cooperation - "APEC, established in November 1989, is an informal grouping of Asia Pacific countries that provides a forum for Ministerial level discussion of a broad range of economic issues. APEC includes the six ASEAN countries (Brunei, Indonesia, Malaysia, Philippines"
Asian Clearing Union - "The ACU promotes regional trade and economic cooperation, including arrangements to conserve foreign exhcange and encourage domestic currencies in trade. Members include Bangladesh, India, Iran, Myanmar, Nepal, Pakistan, and Sri Lanka; Bhutan, Malaysia, "
Asian Development Bank - "The ADB helps finance economic development in developing countries in the Asian and Pacific area through the provision of loans on near-market terms, with its Ordinary Capital Resources (OCR), and on concessional terms, through the Asian Development Fund "
Asian Development Fund - "The ADF (or AsDF), an affiliate of the Asian Development Bank, lends funds on concessionary terms to the Bank's least developed member countries."
Assessment - The imposition of antidumping duties on imported merchandise.
Association of African Development Finance Institutions - "AADFI (French: Association des Institutions Africaines de Financement du Developpement, AIAFD) promotes cooperative financing for social development in Africa and economic integration. The Association was established in March 1975; headquarters are in A"
Association of African Trade Promotion Organizations - "AATPO promotes inter-African trade, harmonization of commercial policies, communication among African states in trade matters, and research and training. The organization, which has about 26 members, was established in 1975"
Association of Central African Banks - "ACAB (French: Association des Banques Centrales Africanines, ABCA) promotes cooperation among monetary, banking, and financial institutions in Africa. Members include two African regional banks and about 32 national banks. 
Association of International Bond Dealers - The AIBD provides a forum for over 500 members from 30 countries to review international securities market matters. The primary objectives of the Association are to provide a basis for examinaitn and discussion of questions relating to the secondary mark
Association of Southeast Asian Nations - "ASEAN was established in 1967 to promote political, economic, and social cooperation among its six member countries: Indonesia, Malaysia, Philippines, Singapore, Thailand, and Brunei. ASEAN headquarters are in Jakarta, Indonesia. In January 1992, ASEAN"
ASWP - Any Safe World Port. As these can be subject to change it is always best to check.             ATFP - Arab Trade Financing Program
ATI - "American Traders Index, Andean Trade Initiative"
Atl. - Atlantic
ATLAS - Automated Trade Locator Assistance Network
ATMIC - Agricultural Trade and Marketing Information Center
ATOs - Agricultural Trade Offices
ATP - Advanced Technology Products
ATPA - Andean Trade Preference Act
ATPI - Andean Trade Preference Initiative
AUMA - "Die Ausstellungs- und Messe-Ausschuss der Deutschen, Wirtschaft"
Ausfuhrkredit-Gesellschaft - AKA (English: Export Credit Establishment) is an association of German banks which provide medium and long-term funding for exports.
Ausstellungs (Die) - und Messe-Ausschuss der Deutschen Wirtschaft - "AUMA (German: the German Industry Council for Exhibitions and Trade Fairs) promotes exports by bringing together government, semiprivate, and private organizations in the coordination of domestic and overseas trade events. AUMA is a private organization "
Automated Broker Interface - "ABI, a part of Customs' Automated Commercial System, permits transmission of data pertaining to merchandise being imported into the United States. Qualified participants include brokers, importers, carriers, port authorities, and independent data process"
Automated Clearinghouse - The Automated Clearinghouse (ACH) is a feature of the Automated Broker Interface which is a part of Customs' Automated Commercial System. The ACH combines elements of bank lock box arrangements with electronic funds transfer services to replace cash or credit cards
Automated Commercial System - "The Customs Service's Automated Commercial System, ACS, is a joint public-private sector computerized data processing and telecommunications system linking customhouses, members of the import trade community, and other government agencies with the Customs"
Automated Export Reporting Program - The AERP provides for electronic submission of most information required on the Shipper's Export Declaration. The program was initiated in 1969 with the intent of enabling large volume exporters to submit electronically and facilitate Census Bureau data
Automated Information Exchange - "AIES, a part of Customs' Automated Commercial System, allows for exchange of classification and value information between field units and headquarters. "
Automated Manifest Systems - "AMS, a part of Customs' Automated Commercial System (ACS) controls imported merchandise from the time a carrier's cargo manifest is electronically transmitted to Customs until control is relinquished to another segment of the ACS. "
Automated Trade Locator Assistance Network - "ATLAS is a Small Business Administration-sponsored, contractor-operated, automated system which provides market research information and statistics on world markets by SIC code (and possibly harmonized system). Indirect access is available for businesses"
AUTOVON - Automatic Voice Network
Aux. - Auxiliary Vessel
Av. - Average
Av. disbts. - Average disbursements
AVE - Ad Valorem Equivalent
AWB - Airway Bill


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