Import-Export Glossary – Ortina Ltd
In the import-export sector, knowledge of specific terminology is essential to operate efficiently, safely, and in compliance with international regulations.
Here is a list of the key terms that guide our global operations.
Documentation and customs procedures
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Bill of Lading (B/L) – A maritime transport document that serves as a receipt for the goods and a representative title of ownership.
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Air Waybill (AWB) – Air transport document issued by the airline.
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Packing List – Detailed list of the contents of the shipment, with weights, volumes and descriptions of the packages.
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Commercial Invoice – Commercial invoice used for customs declaration.
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Proforma Invoice – A proforma invoice issued prior to shipment, often for customs or advance payment purposes.
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Certificate of Origin (CO) – Document that certifies the country of origin of the goods.
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EUR.1 – Certificate used to obtain reductions or exemptions from customs duties in the EU and countries with preferential agreements.
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Customs Declaration – Declaration to customs for import or export.
Commercial and contractual terms
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Incoterms® – International rules that define responsibilities, costs, and risks in the delivery of goods (e.g., FOB, CIF, EXW, DDP).
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FOB (Free On Board) – The seller delivers the goods on board the vessel; risk and costs pass to the buyer.
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CIF (Cost, Insurance and Freight) – The seller covers costs and insurance up to the port of destination.
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DDP (Delivered Duty Paid) – The seller delivers the goods customs cleared in the destination country, at his own expense.
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EXW (Ex Works) – The buyer assumes all costs and risks from collection at the seller's premises.
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Letter of Credit (L/C) – Payment instrument guaranteed by a bank, to protect the seller and the buyer.
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Advance Payment – Payment in advance before shipping.
Logistics and transport
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FCL (Full Container Load) – Full container dedicated to a single customer.
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LCL (Less than Container Load) – Shipment shared in a container with other goods.
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ETA (Estimated Time of Arrival) – Estimated date of arrival of the goods.
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ETD (Estimated Time of Departure) – Estimated departure date.
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Transit Time – Travel time of the shipment.
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Multimodal Transport – Transport that uses multiple means (e.g. ship + truck).
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Freight Forwarder – International freight forwarder who arranges transportation.
Tax and customs aspects
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Customs Duties – Taxes applied to imported goods.
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Import VAT – Value added tax calculated upon entry of goods.
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Drawback – Refund of duties and taxes paid on re-exported goods.
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Customs Tariff – HS (Harmonized System) code that identifies the type of goods for the calculation of duties and controls.
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Free Zone – A special customs area where goods can remain or be processed without immediate payment of duties.
Insurance and risks
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Cargo Insurance – Insurance that covers the risk of loss or damage to goods during transport.
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Force Majeure – Contractual clause that protects against unforeseeable extraordinary events (e.g. wars, natural disasters).
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Demurrage – Cost of using a container beyond the deductible period.
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Detention – Cost for delay in returning the empty container.
Frequently Asked Questions
Domande frequenti (FAQ)
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