| Date Draft (D/D) |
A draft payable a specified number of
days after the date it was issued, regardless of the
date of acceptance. |
| Dc Bills |
Bills drawn under documentary credits. |
Deactivization |
Voluntary discontinuation of the activation of an
entire zone or subzone by the grantee or operator. |
| Declaration |
A formal representation by the importer or its agent
to the Customs Service attesting to the correctness,
description, valuation, classification, etc., of the
imported merchandise. |
| Default |
An act or omission that will result in a claim for
duties, taxes, charges or liquidated damages under
the FTZ Operator's Bond |
| Deferred Payment Credit (DPC) |
Type of letter of credit providing for payment some
time after presentation of shipping documents by exporter. |
| Delivered At Frontier |
Term referring to the seller's obligation to deliver
the goods to the buyer at the specified time and the
specified frontier at his or her own risk and expense.
The buyer is responsible for complying with import
formalities and payment of duties. |
| Delivery Duty Paid |
Term referring to the sellers obligation to supply
goods according to the terms of the contract. At his
or her own risk and expense, the seller must deliver
the goods, duty paid, at the specified time and the
specified frontier, after complying with all necessary
formalities at that frontier. |
| Demand Draft |
See Sight draft. |
| Demurrage |
A charge paid by the charterer to a ship owner to
compensate the owner for use of the ship beyond upon
the loading and discharging times. Also refers to
imported cargo not picked up within prescribed time. |
| Destination Control Statement |
Any of various statements that the U.S. Government
requires to be displayed on export shipments and that
specify the destinations for which export of the shipment
has been authorized. |
| Devaluation |
The official lowering of the value of one country's
currency in terms of one or more foreign currencies.
For example, if the U.S. dollar is devalued in relation
to the French franc, one dollar will "buy"
fewer francs than before. |
| Disc |
Domestic international sales corporation. |
| Discounting |
Act of purchasing an accepted usance bill of exchange
at an amount less than the face value. |
| Discrepancy - Letter of credit |
When documents presented do not conform to the letter
of credit it is referred to as a discrepancy. |
Dishonour |
Non-payment or non-acceptance. |
| Dispatch |
An amount paid by a vessel's operator to a charterer
if loading or unloading is completed in less time
than stipulated in the charter party. |
Distribution License |
A license given to an exporter to replace numerous
individual validated licenses when there is continuous
shipping of authorized products. |
| Distributor |
A foreign agent who sells for a supplier directly
and maintains an inventory of the supplier's products. |
| District Director |
The district director of customs in whose district
the zone is located. |
| District Engineer |
The engineer of the Department of the Army in whose
district the zone is located. |
| Dock Receipt |
A receipt issued by an ocean carrier to acknowledge
receipt of a shipment at the carrier's dock or warehouse
facilities. |
| Document Of Title |
Evidence of entitlement or ownership, such as a
carriers negotiable bill of lading, which allows a
party to claim title to the goods in question. |
| Documentary Against Acceptance (D/A) |
Instructions given by a shipper to a bank indicating
that documents transferring title to goods should
be delivered to the buyer only upon the buyer's acceptance
of the attached draft. |
| Documentary Credit (Dc) |
A conditional undertaking by a bank to make payment,
often abbreviated to credit. More precisely, it is
a written undertaking by a bank (issuing bank) given
to the seller (beneficiary) at the request of the
buyer (applicant) to pay a sum of money against presentation
of documents complying with the terms of the credit
within a set time limit. |
| Documentary Draft |
A draft to which documents are attached. |
| Documents Against Acceptance (D/A) |
Instructions given by a shipper to a bank indicating
that documents transferring title to goods should
be delivered to the buyer (or drawee) only upon the
buyer's acceptance of the attached draft. |
| Documents Against Payment (D/P) |
Payment for goods without a guaranteed form of payment
in which the documents transferring title to the goods
are not given to the buyer until he/she has signed
a sight draft. |
| Documents Of Title |
Documents that give their owner the right to the
goods, i.e. Bill of Lading. |
| Doha Development Round |
The round of World Trade Organization talks that
began in 2001 at Doha, Qatar, where developing countries
scored significant victories on intellectual property
rights and health but still have uphill battles on
market access and subsidies in areas such as agriculture. |
| Draft |
An unconditional order in writing from one person
(the drawer) to another (the drawee), directing the
drawee to pay a specified amount to a named drawer
at a fixed or determinable future date. |
| Drawback |
Articles manufactured or produced in the United
States with the use of imported components or raw
materials and later exported are entitled to a refund
of up to 99 percent of the duty charged on the imported
components. The refund of duty is known as a drawback. |
| Drawee |
The individual or firm on whom a draft is drawn
and who owes the stated amount. Compare Drawer. Also
see Draft. |
| Drawer |
The individual or firm that issues or signs a draft
and thus stands to receive payment of the stated amount
from the drawee. |
| Dr-Cafta |
See CAFTA |
| Due Date |
Maturity date for payment |
| Dumping |
Selling merchandise in another country at a price
below the price at which the same merchandise is sold
in the home market or selling such merchandise below
the costs incurred in production and shipment.. |
| Duty |
A tax imposed on imports by the customs authority
of a country. Duties are generally based on the value
of the goods (ad valorem duties), some other factor
such as weight or quantity (specific duties), or a
combination of value and other factors (compound duties). |
Duty Drawback |
A partial refund of duties paid on importation of
goods that are further processed and then re-exported,
or exported in same condition as imported. |
