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WorksheetsInternational Trade Vocabulary
Total questions: 12
Worksheet time: 12mins
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
It's the authority or organization that controls the flow of goods in and out of a country. Customs authorities or officials collect the duties or taxes applied to imports and exports.
CUSTOMS / DUTY
CUSTOMS BROKER
SHIPPING AGENT
This agent helps importers and exporters move their goods through customs.Customs brokers prepare documents, assist with communications, and arrange payment of duties.
TAXES BROKER
FREIGHT BROKER
CUSTOMS BROKER
