{"id":1760,"date":"2021-05-04T11:45:32","date_gmt":"2021-05-04T11:45:32","guid":{"rendered":"http:\/\/mpeda.gov.in\/importers\/?page_id=1760"},"modified":"2021-05-04T11:56:20","modified_gmt":"2021-05-04T11:56:20","slug":"exim-glossary","status":"publish","type":"page","link":"https:\/\/mpeda.gov.in\/importers\/?page_id=1760","title":{"rendered":"EXIM GLOSSARY"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1760\" class=\"elementor elementor-1760\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3dce067 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3dce067\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3428bcd\" data-id=\"3428bcd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d6acc8 elementor-widget elementor-widget-heading\" data-id=\"4d6acc8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">EXIM GLOSSARY<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2287bcb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2287bcb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-17f1c2f\" data-id=\"17f1c2f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fe6ed79 elementor-widget elementor-widget-image\" data-id=\"fe6ed79\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img width=\"1024\" height=\"182\" src=\"https:\/\/mpeda.gov.in\/importers\/wp-content\/uploads\/2021\/05\/056_Exim_Glossary-1-1024x182.jpg\" class=\"attachment-large size-large\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/mpeda.gov.in\/importers\/wp-content\/uploads\/2021\/05\/056_Exim_Glossary-1-1024x182.jpg 1024w, https:\/\/mpeda.gov.in\/importers\/wp-content\/uploads\/2021\/05\/056_Exim_Glossary-1-300x53.jpg 300w, https:\/\/mpeda.gov.in\/importers\/wp-content\/uploads\/2021\/05\/056_Exim_Glossary-1-768x136.jpg 768w, https:\/\/mpeda.gov.in\/importers\/wp-content\/uploads\/2021\/05\/056_Exim_Glossary-1.jpg 1122w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-33089e5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33089e5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5fe2b38\" data-id=\"5fe2b38\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0f8224c elementor-tabs-view-horizontal elementor-widget elementor-widget-tabs\" data-id=\"0f8224c\" data-element_type=\"widget\" data-widget_type=\"tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-tabs\">\n\t\t\t<div class=\"elementor-tabs-wrapper\" role=\"tablist\" >\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1621\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-1621\" aria-expanded=\"false\">A<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1622\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1622\" aria-expanded=\"false\">B<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1623\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1623\" aria-expanded=\"false\">C<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1624\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"4\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1624\" aria-expanded=\"false\">D<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1625\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"5\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1625\" aria-expanded=\"false\">E<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1626\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"6\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1626\" aria-expanded=\"false\">F<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1627\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"7\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1627\" aria-expanded=\"false\">\tG<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1628\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"8\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1628\" aria-expanded=\"false\">I<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1629\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"9\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1629\" aria-expanded=\"false\">L<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-16210\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"10\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16210\" aria-expanded=\"false\">M<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-16211\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"11\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16211\" aria-expanded=\"false\">O<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-16212\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"12\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16212\" aria-expanded=\"false\">Q<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-16213\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"13\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16213\" aria-expanded=\"false\">R<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-16214\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"14\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16214\" aria-expanded=\"false\">S<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-16215\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"15\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16215\" aria-expanded=\"false\">T<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-16216\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"16\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16216\" aria-expanded=\"false\">V<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-16217\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"17\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16217\" aria-expanded=\"false\">W<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-16218\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"18\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16218\" aria-expanded=\"false\">Trade Abbreviations<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<div class=\"elementor-tabs-content-wrapper\" role=\"tablist\" aria-orientation=\"vertical\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-1621\" aria-expanded=\"false\">A<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1621\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1621\" tabindex=\"0\" hidden=\"false\"><p><strong>Absolute advantage<\/strong>\u00a0\u2013 A country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another country.<br \/><br \/><strong>Acceptance<\/strong>\u00a0\u2013 (1) It is a term used for a time draft (or bill of exchange) which has been accepted by the drawee and is unconditionally obligated to pay at maturity. The said draft should be presented first for acceptance \u2013 the drawee becomes the \u201cacceptor\u201d \u2013 then for the payment. The word \u201caccepted\u201d and the date and place must be written on the face of the draft. (2) A term for the drawee\u2019s act in receiving a draft and entering into the obligation to pay the mentioned value at maturity. (3) Any agreement to purchase goods under specified terms.<br \/><br \/><strong>Ad-valorem duty<\/strong>\u00a0\u2013 It is a duty fixed according to the value of the goods.<br \/><br \/><strong>Ad valorem tax<\/strong>\u00a0\u2013 (in Latin: to the value added) \u2013 a tax based on the value (or assessed value) of property.<br \/><br \/><strong>Advance against documents<\/strong>\u00a0\u2013 It is a loan made on security of the documents covering the shipment.<br \/><br \/><strong>Advising bank<\/strong>\u00a0\u2013 It is a bank in the exporter\u2019s country which handles letters of credit for a foreign bank by notifying the export firm of the credit opened in its favor. The advising bank completely informs the exporter of the conditions of the letter of credit without bearing responsibility for the payment.<br \/><br \/><span id=\"advisory_capacity\"><strong>Advisory capacity<\/strong><\/span>\u00a0\u2013 It is a term, which indicates that a shipper\u2019s agent or representative is not empowered to make any of the definitive decisions or adjustments without the approval of the group or individual represented.<br \/><br \/><strong>Agent<\/strong>\u00a0\u2013 [ check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/f.php?x=foreign_sales_agent\">Foreign Sales Agent<\/a>]<br \/><br \/><strong>Aggregate demand<\/strong>\u00a0\u2013 is the sum of all demand in an economy. This can be computed by adding the expenditure on consumer goods and services, investment, and not exports (total exports minus total imports).<br \/><br \/><strong>Aggregate supply<\/strong>\u00a0\u2013 is the total value of the goods and services produced in a country, plus the value of imported goods less the value of exports.<br \/><br \/><strong>Air Waybill<\/strong>\u00a0\u2013 It is the shipping document used for the transportation of airfreight that includes conditions, limitations of liability, shipping instructions, description of commodity, and the applicable transportation charges. It is usually similar to a non-negotiable bill of lading and is used for similar purposes.<br \/><br \/><strong>Anti-dumping duties<\/strong>\u00a0\u2013 It is an additional duties which are imposed on imported goods when these goods are sold to the importing country at a lower price than what it is charged in the home market.<br \/><br \/><strong>Arbitrage<\/strong>\u00a0\u2013 It is a term used for the process of buying foreign exchange, stocks, bonds or any other commodities in one market and selling them immediately in another market at a higher price.<br \/><br \/><strong>ATA carnet<\/strong>\u00a0\u2013 [check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/c.php?x=carnet\">Carnet<\/a>]<br \/><br \/><strong>Autarky<\/strong>\u00a0\u2013 An autarky is an economy that does no trade with the outside world, or an ecosystem not affected by influences from its outside, and relies entirely on its own resources.<br \/><br \/><strong>Average propensity to consumer<\/strong>\u00a0\u2013 is the proportion of income the average family spends on goods and services.<br \/><br \/><strong>Average propensity to save<\/strong>\u00a0\u2013 is the proportion of income the average family saves (does not spend on consumption).<br \/><br \/><strong>Average total cost<\/strong>\u00a0\u2013 is the sum of all the production costs divided by the number of units produced.<br \/><br \/><strong>Assessment<\/strong>\u00a0\u2013 A study to determine whether, and to what extent, labour practices comply with the provisions of a code of labour practice. The term can refer to the study of a workplace but can also apply to more general studies such as to an industry within a country.<br \/><br \/><strong>Audit<\/strong>\u00a0\u2013 A thorough formal examination of the labour practices of a particular workplace or company, based on corroborated evidence.<br \/><br \/><strong>AFTA<\/strong>\u00a0\u2013 (otherwise known as the Andean-FTA): The Andean Free Trade Agreement is being negotiated between the United States, Colombia, Ecuador, and Peru (with the possibility of including Bolivia at a later time).<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1622\" aria-expanded=\"false\">B<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1622\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1622\" tabindex=\"0\" hidden=\"hidden\"><p><strong>Balance of trade<\/strong>\u00a0\u2013 It is the difference between the total export and import of a country. If the export exceeds the import, it is known as favourable balance of trade and trade deficit is just the opposite.<br \/><br \/><strong>Barter<\/strong>\u00a0\u2013 It is a term for those types of trade in which the merchandise is exchanged directly for other merchandise without making use of money. It is useful for those countries where the currency is not readily convertible.<br \/><br \/><strong>Barter system<\/strong>\u00a0\u2013 System where there is an exchange goods without involving money.<br \/><br \/><strong>Base year<\/strong>\u00a0\u2013 In the construction of an index, the year from which the weights assigned to the different components of the index is drawn. It is conventional to set the value of an index in its base year equal to 100.<br \/><br \/><strong>Bear<\/strong>\u00a0\u2013 An investor with a pessimistic market outlook; an investor who expects prices to fall and so sells now in order to buy later at a lower price.<br \/><br \/><strong>Beneficiary<\/strong>\u00a0\u2013 A term for a person in whose favour a letter of credit is issued or a draft is drawn.<br \/><br \/><strong>Bid price<\/strong>\u00a0\u2013 The highest price an investor is willing to pay for a stock.<br \/><br \/><strong>Bilateral Trade Agreement<\/strong>\u00a0\u2013 A trade agreement between a small group of countries \u2013 this term should indicate a trade agreement between just two countries, but it gets loosely used in trade agreements with five or more countries.<br \/><br \/><strong>Bill of exchange<\/strong>\u00a0-[check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/d.php?x=draft\">Draft<\/a>]<br \/><br \/><strong>Bill of Lading<\/strong>\u00a0\u2013 A contract document agreement between the shipper and the customer that acts as a receipt for the goods delivered to the carrier for shipment; a definition or description of the goods; and evidence of title to the relative goods.<br \/><br \/><strong>Bimetallism<\/strong>\u00a0\u2013 Bimetallism is a monetary standard in which the value of the monetary unit can be expressed either with a certain amount of gold or with a certain amount of silver: the ratio between the two metals is fixed by law.<br \/><br \/><strong>Birth rate<\/strong>\u00a0\u2013 The number of births in a year per 1,000 population.<br \/><br \/><strong>Bond<\/strong>\u00a0\u2013 A certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal.<br \/><br \/><span id=\"bonded_warehouse\"><strong>Bonded warehouse<\/strong><\/span>\u00a0\u2013 Customs authorities authorised warehouse used for storage of goods on which payment of duties is deferred until it is removed.<br \/><br \/><strong>Booking<\/strong>\u00a0\u2013 It is an arrangement with a steamship company for accepting and carrying the freight.<br \/><br \/><strong>Boom<\/strong>\u00a0\u2013 A state of economic prosperity<br \/><br \/><strong>Break even<\/strong>\u00a0\u2013 This is a term used to describe a point at which revenues equal costs (fixed and variable).<br \/><br \/><strong>Budget<\/strong>\u00a0\u2013 A summary of intended expenditures along with proposals for how to meet them. A budget can provide guidelines for managing future investments and expenses.<br \/><br \/><strong>Budget deficit<\/strong>\u00a0\u2013 is the amount by which government spending exceeds government revenues during a specified period of time usually a year.<br \/><br \/><strong>Bull<\/strong>\u00a0\u2013 An investor with an optimistic market outlook; an investor who expects prices to rise and so buys now for resale later .<br \/><br \/><strong>Buying agent<\/strong>\u00a0\u2013 [check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/p.php?x=pruchasing_agent\">Purchasing Agent<\/a>]<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1623\" aria-expanded=\"false\">C<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1623\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1623\" tabindex=\"0\" hidden=\"hidden\"><p><strong>Call money<\/strong>\u00a0\u2013 Price paid by an investor for a call option. There is no fixed rate for call money. It depends on the type of stock, its performance prior to the purchase of the call option, and the period of the contract. It is an interest bearing band deposits that can be withdrawn on 24 hours notice.<br \/><br \/><strong>Capital<\/strong>\u00a0\u2013 Capital is the contribution to productive activity made by investment is physical capital (machinery, factories, tools and equipments) and human capital (eg general education, health).<br \/><br \/><strong>Capital account<\/strong>\u00a0\u2013 Part of a nation\u2019s balance of payments that includes purchases and sales of assets, such as stocks, bonds, and land.<br \/><br \/><strong>Capital budget<\/strong>\u00a0\u2013 A plan of proposed capital outlays and the means of financing them for the current fiscal period.<br \/><br \/><strong>Capital gain tax<\/strong>\u00a0\u2013 Tax paid on the gain realized upon the sale of an asset. It is a tax on profits from the sale of capital assets, such as shares.<br \/><br \/><strong>Cartel<\/strong>\u00a0\u2013 An organization of producers seeking to limit or eliminate competition among its members, most often by agreeing to restrict output to keep prices higher than would occur under competitive conditions.<br \/><br \/><span id=\"carnet\"><strong>Carnet<\/strong><\/span>\u00a0\u2013 It is a customs document, which permits the holder to carry or send merchandise into a certain foreign countries temporarily for display, demonstration, or any other related purpose without paying the duties or posting bonds.<br \/><br \/><strong>Cash against documents (CAD)<\/strong>\u00a0\u2013 A term in which the commission house or other intermediary transfers title documents to the buyer upon payment in cash.<br \/><br \/><strong>Cash Crops<\/strong>\u00a0\u2013 Crops such as coffee or cut flowers grown specifically for export.<br \/><br \/><strong>Cash in advance (CIA)<\/strong>\u00a0\u2013 It is a term in which the price is paid in full before the shipment is made.<br \/><br \/><strong>Cash with order (CWO)<\/strong>\u00a0\u2013 It is a term in which the buyer pays when the order is made and the transaction becomes binding on both the parties.<br \/><br \/><strong>Census<\/strong>\u00a0\u2013 Official gathering of information about the population in a particular area.<br \/><br \/><strong>Central bank<\/strong>\u00a0\u2013 Major financial institution responsible for issuing currency, managing foreign reserves, implementing monetary policy, and providing banking services to the government and commercial banks.<br \/><br \/><strong>Centrally planned economy<\/strong>\u00a0\u2013 An economic system in which the production, pricing, and distribution of goods and services are determined by the government rather than market forces.<br \/><br \/><strong>Certificate of inspection<\/strong>\u00a0\u2013 It is a document which certifies the merchandise (like perishable goods) that it was in good condition just before its shipment.<br \/><br \/><strong>Certificate of manufacture<\/strong>\u00a0\u2013 It is a statement, usually notarized, according to which a producer of goods certifies that the manufacture has been completed according to the contract and the goods are currently at the disposal of the buyer.<br \/><br \/>Certificate of origin \u2013 It is a certified document presented to the customs authorities showing the national origin of goods for import.<br \/><br \/><strong>CFR<\/strong>\u00a0\u2013 Cost and freight. It is a pricing term, which indicates that the cost of the goods and freight charges are included in the quoted price. In this case the buyer arranges for and pays insurance.<br \/><br \/><strong>Charter Party<\/strong>\u00a0\u2013 It is a contract between the owner of a vessel and a \u201ccharterer\u201d who rents use of the vessel or a part of its freight space. It usually includes the freight rates and the ports that is involved in the transportation.<br \/><br \/><strong>CIF<\/strong>\u00a0\u2013 Cost, insurance, freight. It is the price, which includes the cost of material together with the transport and insurance costs.<br \/><br \/><strong>Civil Society<\/strong>\u00a0\u2013 This term refers to all of the organizations which are not public or for-profit institutions.<br \/><br \/><span id=\"clean_bill_of_lading\"><strong>Clean bill of lading<\/strong><\/span>\u00a0\u2013 It is a receipt for goods which is issued by a carrier indicating that the goods were received in \u201capparent good order and condition,\u201d without any damage or other irregularities. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/f.php?x=foul_bill_of_landing\">Foul bill of lading<\/a>]<br \/><br \/><strong>Clean draft<\/strong>\u00a0\u2013 It is a term used for a draft to which no commercial documents are attached.<br \/><br \/><strong>Closed economy<\/strong>\u00a0\u2013 An economy in which there are no foreign trade transactions or any other form of economic contacts with the rest of the world.<br \/><br \/><strong>Collateral security<\/strong>\u00a0\u2013 Additional security a borrower supplies to obtain a loan.<br \/><br \/><strong>Commercial Policy<\/strong>\u00a0\u2013 Encompassing instruments of trade protection employed by countries to foster industrial promotion, export diversification, employment creation, and other desired development-oriented strategies. They include tariffs, quotas, and subsidies.<br \/><br \/><strong>Compound interest<\/strong>\u00a0\u2013 Interest paid on the original principal and on interest accrued from time it became due.<br \/><br \/><strong>Cost benefit analysis<\/strong>\u00a0\u2013 A technique that assesses projects through a comparison between their costs and benefits, including social costs and benefits for an entire region or country.<br \/><br \/><strong>Cross elasticity of demand<\/strong>\u00a0\u2013 The change in the quantity demanded of one product or service impacting the change in demand for another product or service.<br \/><br \/><strong>Crowding out<\/strong>\u00a0\u2013 The possible tendency for government spending on goods and services to put upward pressure on interest rates, thereby discouraging private investment spending.<br \/><br \/><strong>Currency appreciation<\/strong>\u00a0\u2013 An increase in the value of one currency relative to another currency.<br \/><br \/><strong>Currency board<\/strong>\u00a0\u2013 Form of central bank that issues domestic currency for foreign exchange at fixed rates.<br \/><br \/><strong>Currency substitution<\/strong>\u00a0\u2013 The use of foreign currency (e.g., U.S. dollars) as a medium of exchange in place of or along with the local currency (e.g., Rupees).<br \/><br \/><strong>Customs duty<\/strong>\u00a0\u2013 Duty levied on the imports of certain goods. Includes excise equivalents Unlike tariffs customs duties are used mainly as a means to raise revenue for the government rather than protecting domestic producers from foreign competition.<br \/><br \/><strong>Codes of Conduct<\/strong>\u00a0\u2013 Represent voluntary guidelines for treatment of workers and business behavior. In some cases the acceptance of inspections by independent agencies is a key factor of the guidelines.<br \/><br \/><strong>Code initiatives<\/strong>\u00a0\u2013 Organisations, such as ETI, whose role is to establish and\/or encourage the implementation of codes of labour practice.<br \/><br \/><strong>Code implementation<\/strong>\u00a0\u2013 The policies, procedures and activities that a company needs to put in place in order to implement a code of practice.<br \/><br \/><strong>Code of practice\/conduct<\/strong>\u00a0\u2013 A set of standards concerning labour practices adopted by a company and meant to apply internationally, and, in particular, to the labour practices of its suppliers and subcontractors.<br \/><br \/><strong>Collective bargaining<\/strong>\u00a0\u2013 The right to collective bargaining refers to the right for workers\u2019 organisations to negotiate with employers or employers\u2019 organisations on behalf of their members to determine working conditions and terms of employment.<br \/><br \/><strong>Collection papers<\/strong>\u00a0\u2013 It is a term for all documents, such as commercial invoices, bills of lading, etc. submitted to a buyer for the purpose of receiving payment for a shipment.<br \/><br \/><strong>Commercial invoice<\/strong>\u00a0\u2013 It is a complete transaction record between the exporter and importer with regard to the goods sold. It contains the name and address of the seller and the buyer, date of sale, description of the goods sold, the quantity, the unit price, the terms of sale and the total money amount due.<br \/><br \/><strong>Commercial agent<\/strong>\u00a0\u2013 [check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/p.php?x=purchasing_agent\">Purchasing Agent<\/a>]<br \/><br \/><strong>Confirmed letter of credit<\/strong>\u00a0\u2013 It is a term used for a letter of credit, which is issued by a foreign bank, and the validity of which has been confirmed by a domestic bank. This is an assured payment by the domestic bank even if the foreign buyer or the foreign bank defaults. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/l.php?x=letter_of_credit\">Letter of Credit<\/a>]<br \/><br \/><strong>Consignment<\/strong>\u00a0\u2013 A term for the shipment of goods from an exporter (consignor) to an agent (consignee) under an agreement that the consignee undertakes to sell them for a commission. The consignor retains the title to the goods until they are sold.<br \/><br \/><strong>Consular declaration<\/strong>\u00a0\u2013 It is a formal statement, which is made to the consul of a foreign country with the description of the goods to be shipped.<br \/><br \/><strong>Continuous improvement<\/strong>\u00a0\u2013 It refers to a system of constant or ongoing incremental improvements to a process or product based on constant or ongoing examination and evaluation of the process or product.<br \/><br \/><strong>Comparative Advantage<\/strong>\u00a0\u2013 A component of free market theory that states that if each nation made just those things which it could produce cheaper relative to a foreign country and then trade with other nations to get that which they could produce relatively cheaper, wealth would expand and everyone would benefit.<br \/><br \/><strong>Conditionality<\/strong>\u00a0\u2013 Countries must adopt specified economic policies as a condition for receiving a loan from multilateral financial institutions such as the International Monetary Fund or the World Bank.<br \/><br \/><strong>Convertible currency<\/strong>\u00a0\u2013 A term for a currency, which can be legally exchanged for other currencies or gold at market rates.<br \/><br \/><strong>Correspondent bank<\/strong>\u00a0\u2013 It is a bank that handles the business of a foreign bank in its own country.<br \/><br \/><strong>Cotton Corporation of India Ltd. (CCI CAFTA)<\/strong>\u00a0\u2013 The Central American Free Trade Agreement (otherwise known as DR-CAFTA) is a pending agreement that has been negotiated between the United States, five Central American countries.<br \/><br \/><strong>Countertrade<\/strong>\u00a0\u2013 It is the sale of goods or services, which is paid by the transfer of goods or services either in whole or in part from a foreign country.<br \/><br \/><strong>Countervailing duty<\/strong>\u00a0\u2013 It is a duty against imports of goods that are subsidized by the exporting country\u2019s government. This is designed to countervail the effect of the subsidy.<br \/><br \/><strong>Country of origin<\/strong>\u00a0\u2013 It is a term used for the country where the merchandise was grown, mined or manufactured, in accordance with the regulations of the customs.<br \/><br \/><strong>Credit risk insurance<\/strong>\u00a0\u2013 It is the insurance which covers the risks of non-payment for delivered goods. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/m.php?x=marine_insurance\">Marine Insurance<\/a>]<br \/><br \/><strong>Corporate Social Responsibility (CSR)<\/strong>\u00a0\u2013 A concept of business ethics based on the idea that companies have stakeholders who are broadly defined as anyone or group affected by the activities of the company.<br \/><br \/><strong>Customhouse broker<\/strong>\u00a0\u2013 It is a term used for an individual or a firm that has been licensed to enter and clear goods through customs.<br \/><br \/><strong>Customs<\/strong>\u00a0\u2013 The government authorities responsible for the administration of Customs law of a country and the collection of duties and taxes.<br \/><br \/><strong>Customs union<\/strong>\u00a0\u2013 It is the merger of two or more customs territories in a free trade zone with a Common External Tariff in order to establish an increased economic efficiency and closer political and cultural ties.<br \/><br \/><strong>Customs warehousing<\/strong>\u00a0\u2013 [check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/b.php?x=bonded_warehouse\">Bonded Warehouse<\/a>]<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"4\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1624\" aria-expanded=\"false\">D<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1624\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1624\" tabindex=\"0\" hidden=\"hidden\"><p><strong>Date draft<\/strong>\u00a0\u2013 A draft that matures in a specified number of days after the date on which it is issued, irrespective of the date of acceptance. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/d.php?x=draft\">Draft<\/a>,\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/s.php?x=sight_draft\">Sight Draft<\/a>, and\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/t.php?x=time_draft\">Time Draft<\/a>]<br \/><br \/><strong>Debtor<\/strong>\u00a0\u2013 It is a term to any individual who is liable for the payment of a customs debt.<br \/><br \/><strong>Deferred payment credit<\/strong>\u00a0\u2013 It is similar to the letter of credit which provides payment some time after presentation of shipping documents by exporter.<br \/><br \/><strong>Demand draft<\/strong>\u00a0\u2013 [check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/s.php?x=sight_draft\">Sight Draft<\/a>]<br \/><br \/><strong>Devaluation<\/strong>\u00a0\u2013 It is a term used when the value of the currency of a country is officially lowered in terms of one or more foreign currencies. Suppose the US dollar is devalued in relation to the Euro, then one dollar will buy fewer Euros than before.<br \/><br \/><strong>Dispatch<\/strong>\u00a0\u2013 It is an amount paid by vessel operator to the charterer when loading and unloading is completed in less time than stipulated in the charter party.<br \/><br \/><strong>Distributor<\/strong>\u00a0\u2013 It is a term for a foreign agent who sells for a supplier at wholesale and maintains an inventory of the supplier\u2019s products.<br \/><br \/><strong>Dock receipt<\/strong>\u00a0\u2013 A term used for a receipt being issued by a vessel agent that certifies that the goods have been received. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/w.php?x=warehouse_receipt\">Warehouse Receipt<\/a>]<br \/><br \/><strong>Documentary draft<\/strong>\u00a0\u2013 A draft to which documents are attached.<br \/><br \/><strong>Documents against acceptance (D\/A)<\/strong>\u00a0\u2013 It is an instructions given to a bank by the shipper indicating that the documents transferring title to goods should be delivered to the buyer (drawee) only upon the buyer\u2019s acceptance of the attached draft.<br \/><br \/><span id=\"draft\"><strong>Draft (or bill of exchange)<\/strong><\/span>\u00a0\u2013 It is a written order, either negotiable or non-negotiable, which directs one party to pay a certain sum of money to the drawer or to a third person.<br \/><br \/><strong>Drawback<\/strong>\u00a0\u2013 It is the import duties and taxes, either in whole or in part, refunded by a government when the imported goods are re-exported or are used in the manufacture of exported goods.<br \/><br \/><strong>Drawee<\/strong>\u00a0\u2013 An individual or a firm on whom a draft or a bill of exchange is drawn. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/d.php?x=drawer\">Drawer<\/a>\u00a0and\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/d.php?x=draft\">Draft<\/a>]<br \/><br \/><span id=\"drawer\"><strong>Drawer<\/strong><\/span>\u00a0\u2013 An individual or a firm who issues an order, draft or bill of exchange and thus stands to receive payment of the stated amount.<br \/><br \/><strong>Dumping<\/strong>\u00a0\u2013 It is term used when the selling of merchandise is done in another country at lower price than the home market or sometimes even below the costs incurred in production and shipment.<br \/><br \/><strong>Duty<\/strong>\u00a0\u2013 It is the tax levied by a government on the imported merchandise.<br \/><br \/><strong>Duty free<\/strong>\u00a0\u2013 Goods that are exempted from customs duties.<br \/><br \/><strong>Deflation<\/strong>\u00a0\u2013 a reduction in the level of national income and output, usually accompanied by a fall in the general price level.<br \/><br \/><strong>Developed country<\/strong>\u00a0\u2013 is an economically advanced country whose economy is characterized by a large industrial and service sector and high levels of income per head.<br \/><br \/><strong>Direct investment<\/strong>\u00a0\u2013 Foreign capital inflow in the form of investment by foreign-based companies into domestic based companies.<br \/><br \/><strong>Direct tax<\/strong>\u00a0\u2013 A tax that you pay directly, as opposed to indirect taxes, such as tariffs and business taxes. The income tax is a direct tax, as are property taxes.<br \/><br \/><strong>Double taxation<\/strong>\u00a0\u2013 Quantitative measure of the change in size\/volume of economic activity, usually calculated in terms of gross national product (GNP) or gross domestic product(GDP).<br \/><br \/><strong>Duopoly<\/strong>\u00a0\u2013 A market structure in which two producers of a commodity compete with each other.<br \/><br \/><strong>Desk-based risk assessments<\/strong>\u00a0\u2013 A preliminary assessment by a sourcing company of its suppliers. The desk-based risk assessment normally takes the form of a questionnaire sent to suppliers with the intention of highlighting the areas of greatest risk in terms of labour practices.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"5\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1625\" aria-expanded=\"false\">E<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1625\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1625\" tabindex=\"0\" hidden=\"hidden\"><p><strong>EMC<\/strong>\u00a0\u2013 [check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/e.php?x=export_management_company\">Export management company<\/a>]<br \/><br \/><strong>ETC<\/strong>\u00a0\u2013 [check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/e.php?x=export_trading_company\">Export trading company<\/a>]<br \/><br \/><strong>Exchange rate<\/strong>\u00a0\u2013 It is the price of one currency in terms of another i.e. the number of units of one currency can be exchanged for one unit of another currency.<br \/><br \/><strong>Export<\/strong>\u00a0\u2013 It is the physical movement of merchandise out of a country.<br \/><br \/><strong>Export broker<\/strong>\u00a0\u2013 It is a term for an individual or a firm that brings together a buyer and a seller for a fee but does not actually takes part in sales transactions.<br \/><br \/><strong>Export commission house<\/strong>\u00a0\u2013 It is a term used for an organization that, for a commission, acts as a purchasing agent for a foreign buyer.<br \/><br \/><strong>Export declaration<\/strong>\u00a0\u2013 It is a formal statement which declares the complete details about goods being exported. It is made to customs at a port of exit.<br \/><br \/><strong>Export duties<\/strong>\u00a0\u2013 It is the taxes or duties imposed on goods being exported from a country.<br \/><br \/><strong>Export license<\/strong>\u00a0\u2013 It is a government document which permits the exporters to export certain goods to certain countries.<br \/><br \/><span id=\"export_management_company\"><strong>Export management company<\/strong><\/span>\u00a0\u2013 It is a private firm that serves as export department for several producers of goods or services. It also handles the exporting aspect of the business for a commission or fee.<br \/><br \/><span id=\"export_trading_company\"><strong>Export trading company<\/strong><\/span>\u00a0\u2013 It is a term given to a firm that is similar or identical to an export management company.<br \/><br \/><strong>Exporter<\/strong>\u00a0\u2013 A person on behalf of who export declaration is made and who is also the owner of the goods or has similar right of disposal over them.<br \/><br \/><strong>Exchange control<\/strong>\u00a0\u2013 A governmental policy designed to restrict the outflow of domestic currency and prevent a worsened balance of payments position by controlling the amount of foreign exchange that can be obtained or held by domestic citizens.<br \/><br \/><strong>Export incentives<\/strong>\u00a0\u2013 Public subsidies, tax rebates, and other kinds of financial and nonfinancial measures designed to promote a greater level of economic activity in export industries.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"6\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1626\" aria-expanded=\"false\">F<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1626\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"6\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1626\" tabindex=\"0\" hidden=\"hidden\"><p><strong>FAS \u2013<\/strong>\u00a0Free alongside ship. It is a term for pricing which indicates that the quoted price includes the cost of delivering the goods alongside a designated vessel.<br \/><br \/><strong>FCA \u2013\u00a0<\/strong>It stands for \u201cFree carrier\u201d to named place. It is an incoterm in which the title and risk passes on to the buyer including the transportation and insurance cost if the seller delivers the goods cleared for export to the carrier. In this case the seller is obligated to load the goods on the buyer\u2019s collecting vehicle but it is the buyer\u2019s obligation to receive the seller\u2019s arriving vehicle unloaded.<br \/><br \/><strong>FI \u2013<\/strong>\u00a0It stands for \u2018Free in.\u2019 A pricing term stating that the charter of a vessel is responsible for the cost of loading and unloading goods onto the vessel.<br \/><br \/><strong>FO \u2013<\/strong>\u00a0It stands for \u2018Free Out.\u2019 It is a pricing term in which the charterer of a vessel is responsible for the cost of unloading goods from the vessel.<br \/><br \/><strong>FOB \u2013<\/strong>\u00a0It is \u2018Free on board\u2019 at named port of export. It is an incoterm where the risk passes to buyer, included the transportation and insurance payment, once delivered on board the ship by the seller. It is only used for sea or inland waterway transportation.<br \/><br \/><strong>Force majeure \u2013<\/strong>\u00a0It is the title of a standard clause in marine contracts which exempts the parties for non-fulfillment of their obligations as a result of conditions beyond their control, like earthquakes, floods, or war.<br \/><br \/><strong>Foreign exchange \u2013<\/strong>\u00a0A term in which money from one country is exchanged for that of another.<br \/><br \/><span id=\"freight_forwarder\"><strong>Foreign freight forwarder \u2013<\/strong>\u00a0<\/span>[Check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/f.php?x=freight_forwarder\">Freight Forwarder<\/a>]<br \/><br \/><span id=\"foreign_sales_agent\"><strong>Foreign sales agent \u2013<\/strong><\/span>\u00a0It is a term for an individual or for a firm that serves as a foreign representative of a domestic supplier and seeks sales abroad for the supplier.<br \/><br \/><span id=\"free_trade_zone\"><strong>Foreign trade zone \u2013<\/strong><\/span>\u00a0[Check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/f.php?x=free_trade_zone\">Free-Trade Zone<\/a>]<br \/><br \/><span id=\"foul_bill_of_landing\"><strong>Foul bill of lading \u2013<\/strong><\/span>\u00a0It is a term for a receipt of goods, which is issued by a carrier indication that the goods were damaged when received. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/c.php?x=clean_bill_of_lading\">Clean bill of lading<\/a>]<br \/><br \/><strong>Free port \u2013<\/strong>\u00a0A defined port free of customs duty.<br \/><br \/><strong>Free-trade zone \u2013<\/strong>\u00a0A zone where tariffs and quotas are not applied and also the bureaucratic requirements are lowered to attract companies raise the incentives of doing business in the zone. It is also known as export processing zone.<br \/><br \/><strong>Freight forwarder \u2013<\/strong>\u00a0It is a term for an independent business which handles export shipments for compensation. They are among the best sources of information and assistance on export regulations and documentation, shipping methods, and foreign import regulations.<br \/><br \/><strong>Freedom of association \u2013<\/strong>\u00a0The right of all workers to join or form a trade union of their own choosing and carry out trade union activities without interference from their employer or from public authorities.<br \/><br \/><strong>Fair Trade \u2013<\/strong>\u00a0These companies negotiate directly with the growers or producers of products to establish a fair price for the product.<br \/><br \/><strong>FDI \u2013<\/strong>\u00a0Foreign Direct Investment is the purchase by the investors or corporations of one country of non-financial assets in another country.<br \/><br \/><strong>Free trade \u2013<\/strong>\u00a0The theory of free trade contends that everyone in the world will be better off if each nation eliminates tariffs and other barriers to the flow of products across borders.<br \/><br \/><strong>Free on Board \u2013<\/strong>\u00a0Indicates that all delivery, inspection and elevation, or loading costs involved in putting commodities on board a carrier have been paid.<br \/><br \/><strong>FTA \u2013<\/strong>\u00a0A free trade area is a term used for a group of states that have reduced or eliminated trade barriers between themselves, but who maintain their own individual tariffs as to other states.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"7\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1627\" aria-expanded=\"false\">\tG<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1627\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"7\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1627\" tabindex=\"0\" hidden=\"hidden\"><p><strong>GATT \u2013<\/strong>\u00a0It stands for General Agreement on Tariffs and Trade. An international multilateral treaty intended to practice fair-trading and help reduce trade barriers between signatory countries and also to promote trade through tariff concessions.<br \/><br \/><strong>General export license \u2013<\/strong>\u00a0It is a general license that covers those goods for which validated export licenses are not required. To ship exports under a general export license, no formal application or written authorization is required.<br \/><br \/><strong>Gross weight \u2013<\/strong>\u00a0It is a term used for the full weight of a shipment, including the goods and packaging. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/t.php?x=tare_weight\">Tare Weight<\/a>] Globalization \u2013 The term frequently used to identify a trend toward increased flow of goods, services, money, and ideas across national borders and the subsequent integration of the global economy.<br \/><br \/><strong>Gross domestic product \u2013\u00a0<\/strong>(GDP) The total of goods and services produced by a nation over a given period, usually 1 year. Gross Domestic Product measures the total output from all the resources located in a country, wherever the owners of the resources live.<br \/><br \/><strong>Gross national product (GNP) \u2013<\/strong>\u00a0Is the value of all final goods and services produced within a nation in a given year, plus income earned by its citizens abroad, minus income earned by foreigners from domestic production.<br \/><br \/><strong>Government Procurement Policies \u2013<\/strong>\u00a0Rules utilized by governments for purchasing of goods and services.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"8\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1628\" aria-expanded=\"false\">I<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1628\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"8\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1628\" tabindex=\"0\" hidden=\"hidden\"><p><strong>Inland bill of lading \u2013\u00a0<\/strong>It is a bill of lading that is used in transporting goods overland to the exporter\u2019s international carrier.<br \/><br \/><strong>Imports \u2013<\/strong>\u00a0It is the physical movement of goods into a country.<br \/><br \/><strong>Import duties \u2013<\/strong>\u00a0Customs duties payable on importation.<br \/><br \/><strong>Import license \u2013<\/strong>\u00a0It is an authorization by a competent authority for the importation of restricted goods.<br \/><br \/><strong>Import restrictions \u2013<\/strong>\u00a0It is a measure that limits the volume of imports by means of tariffs or non-tariff barriers such as import quotas, exchange controls, import licensing, etc.<br \/><br \/><strong>International freight forwarder \u2013<\/strong>\u00a0[check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/f.php?x=freight_forwarder\">Freight Forwarder<\/a>]<br \/><br \/><strong>Irrevocable Letter of Credit \u2013<\/strong>\u00a0A letter of credit obligating the issuing bank to pay the exporter the specified amount when all the terms and conditions are met by the drawee. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/r.php?x=revocable_letter_of_credit\">Revocable Letter of Credit<\/a>]<br \/><br \/><strong>Informal work\/er \u2013<\/strong>\u00a0Informal work refers to work performed in an employment relationship that is not recognised or protected under legal or regulatory frameworks.<br \/><br \/><strong>Inspection \u2013<\/strong>\u00a0A visit made to a workplace by an authorised outside organisation or individual for the purpose of checking whether a code of labour practice is being applied.<br \/><br \/><strong>Intellectual Property Rights \u2013<\/strong>\u00a0The right to control and derive the benefits from writing (copyright), inventions (patents), processes (trade secrets) and identifiers (trademarks). See also Trade Related Intellectual Property Rights.t<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"9\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1629\" aria-expanded=\"false\">L<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1629\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"9\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1629\" tabindex=\"0\" hidden=\"hidden\"><p><span id=\"letter_of_credit\"><strong>Letter of Credit (L\/C) \u2013<\/strong><\/span>\u00a0It is a term used for a letter issued by a bank on behalf of a client to pay a beneficiary the stated amount of money under specified conditions.<br \/><br \/><strong>Licensing \u2013<\/strong>\u00a0It is a business arrangement where the manufacturer of a product grants permission to some other group or individual to manufacture that product in return for specified royalties or other payment. It can also be in case of a firm with proprietary rights over certain technology, trademarks, etc. to make use of that proprietary material.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"10\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16210\" aria-expanded=\"false\">M<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-16210\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"10\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-16210\" tabindex=\"0\" hidden=\"hidden\"><p><strong>Manifest \u2013<\/strong>\u00a0[check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/s.php?x=ship_manifest\">Ship\u2019s Manifest<\/a>]<br \/><br \/><span id=\"marine_insurance\"><strong>Marine Insurance \u2013<\/strong><\/span>\u00a0An insurance, which compensates the owner of goods transported overseas in the event of loss that cannot be recovered from the carrier.<br \/><br \/><strong>Marking (for marks) \u2013<\/strong>\u00a0It is the letters, numbers, and any other symbols placed on cargo packages to facilitate identification.<br \/><br \/><strong>Marks of origin \u2013<\/strong>\u00a0It is the physical marking on a product indicating the country of origin where the article was produced.<br \/><br \/><strong>Monitoring \u2013<\/strong>\u00a0Monitoring refers to the surveillance of labour practices against a standard by a person (or persons) with a continuous or frequent presence in the workplace and unobstructed access to management and staff.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"11\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16211\" aria-expanded=\"false\">O<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-16211\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"11\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-16211\" tabindex=\"0\" hidden=\"hidden\"><p><strong>On board bill of lading \u2013<\/strong>\u00a0It is a bill of lading which confirms that the merchandise have been placed on board of a certain vessel.<br \/><br \/><strong>Open account \u2013\u00a0<\/strong>Credit extended to a foreign buyer without guarantee of payment.<br \/><br \/><strong>Open insurance policy \u2013<\/strong>\u00a0It is a marine insurance policy applied to all shipments made by an exporter over a certain period of time and not to one shipment.<br \/><br \/><strong>Order bill of lading \u2013<\/strong>\u00a0It is a negotiable bill of lading that is made out to the order of the shipper.<br \/><br \/><strong>Offshoring \u2013<\/strong>\u00a0It can be defined as relocation of business processes (including production\/manufacturing) to a lower cost location, usually overseas.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"12\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16212\" aria-expanded=\"false\">Q<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-16212\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"12\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-16212\" tabindex=\"0\" hidden=\"hidden\"><p><strong>Quota \u2013<\/strong>\u00a0It is the quantity of goods of a specific kind, which is permitted by a country to be imported without restriction or imposition of additional duties.<br \/><br \/><strong>Quotation \u2013<\/strong>\u00a0It is an offer of selling goods at a price being stated and under specified conditions.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"13\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16213\" aria-expanded=\"false\">R<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-16213\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"13\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-16213\" tabindex=\"0\" hidden=\"hidden\"><p><strong>Re-exports \u2013<\/strong>\u00a0It is the shipment of products from one foreign destination to another.<br \/><br \/><strong>Remitting bank \u2013<\/strong>\u00a0It is that bank which sends the draft to the overseas bank for collection.<br \/><br \/><strong>Representative \u2013<\/strong>\u00a0[check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/f.php?x=foreign_sales_agent\">Foreign Sales Agent<\/a>]<br \/><br \/><span id=\"revocable_letter_of_credit\"><strong>Revocable letter of credit \u2013<\/strong><\/span>\u00a0It is a letter of credit that may be amended or canceled by the drawee after it has been issued by the drawee\u2019s bank. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/i.php\">Irrevocable Letter of Credit<\/a>]<br \/><br \/><strong>Race to the Bottom \u2013<\/strong>\u00a0The constant search for cheaper wages, lower taxes and weaker environmental and other regulations, produces a downward spiral in socio-economic conditions in the United States and in countries around the world.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"14\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16214\" aria-expanded=\"false\">S<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-16214\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"14\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-16214\" tabindex=\"0\" hidden=\"hidden\"><p><span id=\"ship_manifest\"><strong>Ship\u2019s manifest \u2013<\/strong><\/span>\u00a0It is a list of the individual shipments constituting the cargo of the ship.<br \/><br \/><span id=\"sight_draft\"><strong>Sight draft (S\/D) \u2013<\/strong><\/span>\u00a0It is a bill of exchange that is payable on demand or upon presentation.<br \/><br \/><strong>Specific duty \u2013<\/strong>\u00a0It is the duty or tax calculated as a rate per unit of measure of the merchandise, such as number, volume, weight, etc.<br \/><br \/><strong>Spot exchange \u2013<\/strong>\u00a0It is the term used for the sale or purchase of foreign exchange for immediate delivery.<br \/><br \/><strong>Standard industrial classification (SIC) \u2013<\/strong>\u00a0It is a standard numerical code system, which is used for the classification of products and services.<br \/><br \/><strong>Standard international trade classification (SITC) \u2013<\/strong>\u00a0It is a term used for a standard numerical code system developed by the UN for the classification of commodities used in international trade.<br \/><br \/><strong>Steamship conference \u2013<\/strong>\u00a0A term for a group of steamship operators that operate under mutually agreed-upon freight rates.<br \/><br \/><strong>Straight bill of lading \u2013<\/strong>\u00a0A term for a non-negotiable bill of lading in which the merchandise is consigned directly to a named consignee.<br \/><br \/><strong>Sanction \u2013<\/strong>\u00a0A punitive mechanism used. to encourage a country to adopt or revise its policies. Trade sanctions might include increases in tariffs.<br \/><br \/><strong>Sourcing company \u2013<\/strong>\u00a0A company that purchases product from another company, for either direct or indirect onward sale to the consumer.<br \/><br \/><strong>Sovereignty \u2013<\/strong>\u00a0The principle that the state exercises absolute power over its territory, system of government, and population.<br \/><br \/><strong>Subsidies \u2013<\/strong>\u00a0Grants of money made by the government to either a seller or a buyer of a certain product or service, thereby altering the price or cost in a way which affects the output.<br \/><br \/><strong>Sustainability \u2013<\/strong>\u00a0Meeting the needs of the present without compromising the ability of future generations to meet their own needs.<br \/><br \/><strong>Stakeholder \u2013<\/strong>\u00a0The term refers to any individual, community or organisation that affects or is affected by the operations of a company.<br \/><br \/><strong>Sustainable Growth \u2013<\/strong>\u00a0Growth that does not negatively affect the poor, workers and the environment; economic growth that is just and fair and improves the likelihood of such growth in the future<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"15\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16215\" aria-expanded=\"false\">T<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-16215\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"15\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-16215\" tabindex=\"0\" hidden=\"hidden\"><p><span id=\"tare_weight\"><strong>Tare weight \u2013<\/strong><\/span>\u00a0It is the weight of the container and\/or packed materials without considering the weight of the goods inside the container.<br \/><br \/><strong>Tenor (of a draft) \u2013<\/strong>\u00a0It is the period of credit given by a bill of exchange.<br \/><br \/><strong>Through bill of lading \u2013<\/strong>\u00a0It is a term for a single bill of lading covering certain items moving from the point of origin to the final location although they move through two or more modes of transportation.<br \/><br \/><span id=\"time_draft\"><strong>Time draft \u2013<\/strong><\/span>\u00a0It is a draft payable at a specified future date either certain number of days after acceptance or certain number of days after the date of the draft.<br \/><br \/><strong>Tramp steamer \u2013<\/strong>\u00a0A vessel not operating under any regular schedule or route.<br \/><br \/><strong>Transaction statement \u2013<\/strong>\u00a0It is a document, which traces an outline of the terms and conditions agreed upon between an importer and exporter.<br \/><br \/><strong>Trust receipt \u2013\u00a0<\/strong>A written declaration by a customer to a bank stating that the ownership of the goods released by the bank is retained by it, and the client has received the goods in trust only. Such a receipt is given by the customer to induce the bank to issue a letter of indemnity to a carrier to release a shipment.<br \/><br \/><strong>Tariff \u2013<\/strong>\u00a0A duty(or tax) applied to goods transported from one country to another, or on imported products.<br \/><br \/><strong>Trade union organisation \u2013\u00a0<\/strong>There are two kinds of trade union organisations \u2013 those that have workers as members and those that have trade unions as members.<br \/><br \/><strong>Trade Bloc \u2013<\/strong>\u00a0A trade bloc is a large free trade zone or near-free trade zone formed by one or more tax, tariff and trade agreements.<br \/><br \/><strong>Trade Deficit \u2013<\/strong>\u00a0The value of a nation\u2019s imports exceeds the value of its exports.<br \/><br \/><strong>Trade Liberalization \u2013<\/strong>\u00a0The reduction of tariffs, quotas, and other barriers to permit more foreign trade and investment.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"16\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16216\" aria-expanded=\"false\">V<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-16216\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"16\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-16216\" tabindex=\"0\" hidden=\"hidden\"><p><strong>VAT<\/strong>\u00a0\u2013 A form of indirect sales tax paid on products and services at each stage of production or distribution, based on the value added at that stage and included in the cost to the ultimate customer.<br \/><br \/><strong>Verification<\/strong>\u00a0\u2013 Verification concerns the impartial examination and certification of claims made about the actual observance of code provisions by suppliers or of claims made about the activities that a company undertakes to give effect to its code.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"17\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16217\" aria-expanded=\"false\">W<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-16217\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"17\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-16217\" tabindex=\"0\" hidden=\"hidden\"><p><span id=\"warehouse_receipt\"><strong>Warehouse receipt \u2013<\/strong><\/span>\u00a0It is a receipt of a warehouse listing goods or commodities received for storage.<br \/><br \/><strong>Wharfage \u2013<\/strong>\u00a0It is a charge assessed by a pier or dock owner for handling the incoming or the outgoing cargo.<br \/><br \/><strong>Without Reserve \u2013<\/strong>\u00a0It is a term under which the agent or representative of a shipper is empowered to make any decision and adjustments abroad without the approval of the group or individual represented. [also check\u00a0<a href=\"https:\/\/mpeda.gov.in\/MPEDA\/exim_glossary.php?x=advisory_capacity\">Advisory Capacity<\/a>]<br \/><br \/><strong>WTO \u2013\u00a0<\/strong>The World Trade Organization, established in 1995 as the successor to the 1948 General Agreement on Trade and Tariffs, administers trade agreements, provides a forum for trade negotiations, and monitors national trade policies for the 147 member countries.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"18\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-16218\" aria-expanded=\"false\">Trade Abbreviations<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-16218\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"18\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-16218\" tabindex=\"0\" hidden=\"hidden\"><p><strong>APC:<\/strong>\u00a0African, Caribbean and Pacific<br \/><br \/><strong>ACT:<\/strong>\u00a0Australian Capital Territory<br \/><br \/><strong>ADB:<\/strong>\u00a0African Development Bank<br \/><br \/><strong>Asian:\u00a0<\/strong>Development Bank<br \/><br \/><strong>Aid:<\/strong>\u00a0(US) Agency for International Development<br \/><br \/><strong>ASEAN:<\/strong>\u00a0Association of South East Asian Nations<br \/><br \/><strong>ASSR:<\/strong>\u00a0Autonomous Soviet Socialist Republic<br \/><br \/><strong>APEDA:<\/strong>\u00a0Agriculture &amp; Processed Food Products Export Development Authority<br \/><br \/><strong>ASSOCHAM:<\/strong>\u00a0Associated Chambers of Commerce and Industry<br \/><br \/><strong>AEPC:<\/strong>\u00a0Apparel Export Promotion Council<br \/><br \/><strong>AIMO:<\/strong>\u00a0All India Manufacturers Organisation<br \/><br \/><strong>CACM:<\/strong>\u00a0Central American Common Market<br \/><br \/><strong>CARICOM :<\/strong>\u00a0Caribbean Community and Common Market<br \/><br \/><strong>CIS:\u00a0<\/strong>Commonwealth of Independent States<br \/><br \/><strong>COMESA:<\/strong>\u00a0Common Market for Eastern and Southern Africa<br \/><br \/><strong>CPSU:<\/strong>\u00a0Communist Part of the Soviet Union<br \/><br \/><strong>C\/F:<\/strong>\u00a0Cost, Insurance &amp; Freight<br \/><br \/><strong>C &amp; F:<\/strong>\u00a0Cost and Freight<br \/><br \/><strong>CLE:<\/strong>\u00a0Council for Leather Exports<br \/><br \/><strong>CAPEXIL:\u00a0<\/strong>Chemicals &amp; Allied Products Export Promotion Council<br \/><br \/><strong>CEPC:\u00a0<\/strong>Carpet Export Promotion Council<br \/><br \/><strong>TEXPROCIL:<\/strong>\u00a0Cotton Textile Export Promotion Council<br \/><br \/><strong>CSB:<\/strong>\u00a0Central Silk Board<br \/><br \/><strong>CCIC:<\/strong>\u00a0Central Cottage Industries Corporation<br \/><br \/><strong>CEPC:<\/strong>\u00a0Cashew Export Promotion Council<br \/><br \/><strong>CII:<\/strong>\u00a0Confederation of Indian Industry<br \/><br \/><strong>D\/A:<\/strong>\u00a0Documents against acceptance<br \/><br \/><strong>D\/P:<\/strong>\u00a0Documents against payment<br \/><br \/><strong>DDP:<\/strong>\u00a0Delivered Duty Paid (Name, place of destination)<br \/><br \/><strong>DDU:<\/strong>\u00a0Delivered Duty Unpaid<br \/><br \/><strong>DAF:<\/strong>\u00a0Delivered at Frontier (named place)<br \/><br \/><strong>DGCI&amp;S:<\/strong>\u00a0Directorate-General of Commercial Intelligence &amp; Statistics<br \/><br \/><strong>EBRD:<\/strong>\u00a0European Bank for Reconstruction and Development<br \/><br \/><strong>EC:<\/strong>\u00a0European Community<br \/><br \/><strong>ECE:<\/strong>\u00a0(United Nations) Economic Commission for Europe<br \/><br \/><strong>ECLAC:<\/strong>\u00a0(United Nations)Economic Commission for Latin<br \/><br \/><strong>ECOSOC:<\/strong>\u00a0(United Nations) Economic and Social Council<br \/><br \/><strong>ECOWAS:<\/strong>\u00a0Economic Community of West African States<br \/><br \/><strong>ECU:<\/strong>\u00a0European Currency Unit<br \/><br \/><strong>EFTA:<\/strong>\u00a0European Free Trade Association<br \/><br \/><strong>ESCAP:<\/strong>\u00a0Economic and Social Commission for Asia and the Pacific (United Nations)<br \/><br \/><strong>ESCWA:<\/strong>\u00a0Economic and Social Commission for Western Asia (United Nations)<br \/><br \/><strong>EIC:<\/strong>\u00a0Export Inspection Council<br \/><br \/><strong>ECGC:<\/strong>\u00a0Export Credit Guarantee Corporation of India Ltd.<br \/><br \/><strong>EEPC:<\/strong>\u00a0Engineering Export Promotion Council<br \/><br \/><strong>ECSEPC:<\/strong>\u00a0Electronics &amp; Computer Software Export Promotion Council<br \/><br \/><strong>FOB:<\/strong>\u00a0Free on Board<br \/><br \/><strong>FCA:<\/strong>\u00a0Free Carrier (named place)<br \/><br \/><strong>FAS:<\/strong>\u00a0Free alongside Ship (name port of shipment)<br \/><br \/><strong>FAO:<\/strong>\u00a0Food and Agriculture Organization<br \/><br \/><strong>FASII:<\/strong>\u00a0Federation of Associations of Small Industries in India<br \/><br \/><strong>FICCI:<\/strong>\u00a0Federation of Indian Chamber of Commerce &amp; Industry<br \/><br \/><strong>FIEO:<\/strong>\u00a0Federation of Indian Export Organisations<br \/><br \/><strong>GATT:<\/strong>\u00a0General Agreement on Tariffs and Trade<br \/><br \/><strong>GDP :<\/strong>\u00a0Gross Domestic Product<br \/><br \/><strong>GMT:<\/strong>\u00a0Greenwich Mean Time<br \/><br \/><strong>GNP:<\/strong>\u00a0Gross National Product<br \/><br \/><strong>G&amp;JEPC:<\/strong>\u00a0Gem &amp; Jewellery Export Promotion Council<br \/><br \/><strong>HEPC:<\/strong>\u00a0Handloom Export Promotion Council<br \/><br \/><strong>IEC:<\/strong>\u00a0Import, Export Code Number<br \/><br \/><strong>IBRD:<\/strong>\u00a0International Bank for Reconstruction and Development (World Bank)<br \/><br \/><strong>ICC:<\/strong>\u00a0International Chamber of Commerce<br \/><br \/><strong>idB:<\/strong>\u00a0Inter-American Development Bank<br \/><br \/><strong>IMF:<\/strong>\u00a0International Monetary Fund<br \/><br \/><strong>IIP:<\/strong>\u00a0Indian Institute of Packaging<br \/><br \/><strong>IIC:<\/strong>\u00a0Indian Investment Centre<br \/><br \/><strong>IIFT:<\/strong>\u00a0Indian Institute of Foreign Trade<br \/><br \/><strong>JCI:<\/strong>\u00a0Jute Corporation of India Limited<br \/><br \/><strong>JMCD:<\/strong>\u00a0Jute Manufacturers Development Council<br \/><br \/><strong>MPEDA:<\/strong>\u00a0Marine Products Export Development Authority<br \/><br \/><strong>MDA:<\/strong>\u00a0Market development assistance<br \/><br \/><strong>MAI:<\/strong>\u00a0Market assistance initiative<br \/><br \/><strong>MTC:<\/strong>\u00a0Mica Trading Corporation<br \/><br \/><strong>NAFTA:<\/strong>\u00a0North American Free Trade Agreement<br \/><br \/><strong>NATO:<\/strong>\u00a0North Atlantic Treaty Organization<br \/><br \/><strong>NTC:<\/strong>\u00a0National Textile Corporation of India Ltd.<br \/><br \/><strong>OECD:<\/strong>\u00a0Organisation for Economic Cooperation and Development<br \/><br \/><strong>OPEC:<\/strong>\u00a0Organization of the Petroleum Exporting Countries<br \/><br \/><strong>OCCI:<\/strong>\u00a0Overseas Construction Council of India<br \/><br \/><strong>PEC:<\/strong>\u00a0Project and Equipment Corporation of India Limited<br \/><br \/><strong>PLEXCOUNCIL:<\/strong>\u00a0Plastic &amp; Linoleum Export Promotion Council<br \/><br \/><strong>RCMC:<\/strong>\u00a0Registration-cum-Membership Certificate form for Registered Exporters<br \/><br \/><strong>RSFSR:<\/strong>\u00a0Russian Soviet Federative Socialist Republic<br \/><br \/><strong>SIL:<\/strong>\u00a0Special Imprest Licence<br \/><br \/><strong>SAARC:<\/strong>\u00a0South Asian Association for Regional Cooperation<br \/><br \/><strong>SMEs:<\/strong>\u00a0Small and Medium-Sized Enterprises<br \/><br \/><strong>SGEPC:<\/strong>\u00a0Sport Goods Export Promotion Council<br \/><br \/><strong>SOPA:<\/strong>\u00a0Soyabeen Processor Association of India<br \/><br \/><strong>SEPC:<\/strong>\u00a0Shellac Export Promotion Council<br \/><br \/><strong>STC:<\/strong>\u00a0The State Trading Corporation of India Limited<br \/><br \/><strong>ISEPC:<\/strong>\u00a0The Indian Silk Export Promotion Council<br \/><br \/><strong>SREPC:<\/strong>\u00a0The Synthetic and Rayon Textiles Export Promotion Council<br \/><br \/><strong>HHEPC:<\/strong>\u00a0The Handicrafts &amp; Handloom Export Corporation of India Ltd.<br \/><br \/><strong>MMTC:<\/strong>\u00a0The Minerals &amp; Metals Trade Corporation of India Ltd.<br \/><br \/><strong>UNCTAD:<\/strong>\u00a0United Nations Conference on Trade and Development<br \/><br \/><strong>UNDP:<\/strong>\u00a0United Nations Development Programme<br \/><br \/><strong>UNEP:<\/strong>\u00a0United Nations Environment Programme<br \/><br \/><strong>UNESCO:<\/strong>\u00a0United Nations Educational, Scientific and Cultural Organization<br \/><br \/><strong>UNICEF:<\/strong>\u00a0United Nations Children\u2019s Fund<br \/><br \/><strong>USAid:<\/strong>\u00a0United States Agency for International Development<br \/><br \/><strong>USSR:<\/strong>\u00a0Union of Soviet Socialist Republics<br \/><br \/><strong>VAT:<\/strong>\u00a0Value-added Tax<br \/><br \/><strong>WEU:<\/strong>\u00a0Western European Union<br \/><br \/><strong>WHO:<\/strong>\u00a0World Health Organization<br \/><br \/><strong>WWEPC:<\/strong>\u00a0Wool &amp; Woollen Export Promotion Council<\/p><\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>EXIM GLOSSARY A B C D E F G I L M O Q R S T V W Trade Abbreviations A Absolute advantage\u00a0\u2013 A country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another country. Acceptance\u00a0\u2013 (1) It is a &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/mpeda.gov.in\/importers\/?page_id=1760\"> <span class=\"screen-reader-text\">EXIM GLOSSARY<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/mpeda.gov.in\/importers\/index.php?rest_route=\/wp\/v2\/pages\/1760"}],"collection":[{"href":"https:\/\/mpeda.gov.in\/importers\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mpeda.gov.in\/importers\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mpeda.gov.in\/importers\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mpeda.gov.in\/importers\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1760"}],"version-history":[{"count":4,"href":"https:\/\/mpeda.gov.in\/importers\/index.php?rest_route=\/wp\/v2\/pages\/1760\/revisions"}],"predecessor-version":[{"id":1799,"href":"https:\/\/mpeda.gov.in\/importers\/index.php?rest_route=\/wp\/v2\/pages\/1760\/revisions\/1799"}],"wp:attachment":[{"href":"https:\/\/mpeda.gov.in\/importers\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}