International Trade Vocabulary

Goods that are bought and sold in trade. If being shipped or moved, it may be called FREIGHT or CARGO.

• Merchandise

• Shipment

• Export

A certificate certifying that the goods have been made to the buyer’s specifications.

• CERTIFICATE OF ORIGIN

• CERTIFICATE OF SALE

• CERTIFICATE OF MANUFACTURE

It shows that the goods meet the required standards prior to shipment.

• CERTIFICATION OF QUALITY

• CERTIFICATE OF INSPECTION

• CERTIFICATE OF ORIGIN

Before a supplier sends merchandise to a buyer, the supplier provides this document listing the quantity, value and specifications of the merchandise.

• BILL OF LADING

• INVOICE

• PRO FORMA INVOICE

This document is a guarantee that payment will be made when the seller meets the conditions sale.

• LETTER OF CREDIT

• LETTER OF INSURANCE

• LETTER OF SALES CONDITION

It's a contract or agreement between an exporter and a transportation company. It contains a list of the goods being carried and it must remain with the merchandise at all times.

• BILL OF LADING (BL)

• LETTER OF CREDIT

• CERTIFICATE OF QUALITY

It means the seller is responsible for the goods until they are loaded. The seller must pay all costs related to getting the goods to port and onto vessel.

• INCOTERMS – FREE ON BOARD

• INCOTERMS – COST & FREIGHT (CFR)

• INCOTERMS – COST INSURANCE FREIGHT (CIF)

It means the price includes the cost of goods and transport charges to the destination port.

• INCOTERMS – FREE ON BOARD

• EXW (EX WORKS)

• INCOTERMS – COST & FREIGHT (CFR)

It means the price includes the cost of goods, insurance and transportation to the destination port.

• INCOTERMS – FREE ON BOARD:

• INCOTERMS – COST INSURANCE FREIGHT (CIF)

• CFR (COST AND FREIGHT)

It's a place where goods are stored after shipping but before the payment of duties on those goods.

• STORAGE

• BONDED WAREHOUSE

• CHAMBER