| Tare Weight |
The weight of an empty container and
packing materials (i.e. without the weight of the
goods it contains.) Note that Gross weight = net weight
+ tare weight. |
| TARIC (Integrated Tariff of the European Communities) |
TARIC is designed to show the various rules applying to specific products when imported into the EU. This includes the provisions of the harmonized system and the combined nomenclature but also additional provisions specified in Community legislation such as tariff suspensions, tariff quotas and tariff preferences, which exist for the majority of the Community's trading partners. In trade with third countries, the 10-digit Taric code must be used in customs and statistical declarations. |
| Tariff |
A tax on goods which a country imports. The rate
at which imported goods are taxed. A tariff schedule
usually refers to a list or schedule of articles of
merchandise with the rate of duty to be paid to the
government of importation. |
| Tariff Quotas |
Setting a higher tariff rate on imported goods
after a specified, controlled quantity of the item
has entered the country at the usual tariff rate during
a specified period. |
| Technology Transfer |
The movement of modern or scientific methods of
production or distribution from one enterprise, institution,
or country to another, as through foreign investment,
international trade, licensing of patent rights, technical
assistance, or training. Technology may also be transferred
by giving it away (technical journals, conferences,
emigration of technical experts, technical assistance
programs) or by industrial espionage. |
| Terms of Trade |
The ratio of prices (unit values) of a country's
exports to the prices (unit values) of its imports.
Some economists have discerned a deteriorating trend
in this ratio for developing countries as a whole.
Other economists maintain that whereas the terms of
trade may have become less favourable for certain
countries during certain periods — and even
for all developing countries during some periods — the
same terms of trade have improved for other developing
countries in the same periods and perhaps for most
developing countries during other periods. |
| Telegraphic Transfer |
Money is transferred by coded interbank telex and
as long as the exporter makes it clear to the overseas
buyer exactly to which bank and account the remittance
should be made, the exporter should receive very speedy
payment. |
| Tenor (Of A Draft) |
Designation of a payment as being due at sight,
a given number of days after sight, or a given number
of days after date. The exporter's bank in DC transactions,
which dispatches the documents to the issuing bank. |
| Terminal Receiving Charge (TRC) |
Charge assessed by the terminal for cargo being
delivered for export. |
| Terminal Handling Charge (THC) |
The charge assessed by the terminal for the positioning
of containers within the terminal/yard. |
| Twenty-foot Equivalent Unit (TEU) |
TEU is taken to mean the measure of a container
capacity still used by some institutions (1 FFE =
2 TEU) |
| Through Bill Of Lading |
A single bill of lading converting both the domestic
and international carriage of an export shipment.
An air waybill, for instance, is essentially a through
bill of lading used for air shipments. Ocean shipments,
on the other hand, usually require two separate documents
- an inland bill of lading for domestic carriage and
an ocean bill of lading for international carriage.
Through bills of lading are insufficient for ocean
shipments. Compare Air waybill, Inland bill of lading,
and Ocean bill of lading. |
| Through Rate |
A rate applicable from point of origin to destination.
A through rate may be either a joint rate or a combination
of two or more rates. |
| Time Draft |
A draft that matures either a certain number of
days after acceptance or a certain number of days
after the date of the draft. |
| TPA |
Trade Promotion Authority - see Fast Track |
| Tracer |
See Chaser. |
| Trade Agreement |
A bilateral or multilateral treaty or other enforceable
compact committing two or more nations to specified
terms of commerce, usually involving mutually beneficial
concessions. |
| Trade And Credit Information (TCI) |
A bank department that prepares and distributes
status reports on its own customers, and maintains
records of traders and manufacturers with whom its
customers deal. |
| Trade Deficit |
The value of a nation's imports exceeds the value
of its exports. |
| Trade Liberalisation |
The reduction of tariffs, quotas, and other barriers
to permit more foreign trade and investment. |
| Tramp Steamer |
A ship not operating on regular routes or schedules. |
| Transaction Statement |
A document that delineates the terms and conditions
agreed upon between the importer and exporter. |
| Transaction value |
The price actually paid or payable by the buyer
to the seller for the merchandise when sold for exportation
to the United States. Transaction value is the most
common method for valuing imported merchandise. |
| Transfer |
To take merchandise with zone status from a zone
for consumption, transportation, exportation, warehousing,
cartage or lighterage, vessel supplies and equipment,
admission to another zone, and like purposes. |
| Transferable Credit |
Permits the beneficiary to transfer all or some
of the rights and obligations under the credit to
a second beneficiary or beneficiaries - see Special
DCs. |
| Transferee |
A party (2nd beneficiary) to whom a transferable
credit is transferred in whole or in part. |
| Transferor |
A party (1st beneficiary) at whose request a transferable
credit is transferred to a second beneficiary in whole
or in part. |
| Transloading |
Transfer of containers from one vessel to another
vessel. Synonymous with Transshipments. |
| Transnational Corporation |
Corporations that operate in multiple countries
and can move their products, personnel, and even factories
to the location that would be the most profitable. |
| Transhipment |
A shipment that has been moved through, imported,
transferred, or unladen in one or more intermediary
countries (other than their originating country) prior
to importation into the final destination country. |
| Transparency |
This concept requires negotiations and agreements
to be openly arrived at and openly presented so that
all can know and understand the process and terms. |
| Transportation And Exportation Entry |
A form declaring goods entering the United States
for the purpose of exportation through a U.S. port.
Carriers and any warehouse must be bonded. |
| Transport Documents |
A transport document is given by the carrier to
the shipper (seller/exporter) and serves as receipt
for the goods during shipment and as evidence of a
carriage contract. The transport document may in some
cases also serve as a document of title. |
| Trips |
Trade-Related Intellectual Property Rights is an
agreement of the World Trade Organization that covers
patents and other forms of intellectual property. |
| Trust Receipt |
Release of merchandise by a bank to a buyer in
which the bank retains title to the merchandise. The
buyer, who obtains the goods for manufacturing or
sales purposes, is obligated to maintain the goods
(or the proceeds from their sale) distinct from the
remainder of his or her assets and to hold them ready
for repossession by the bank. |
