Exporter-DLH

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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Factoring - Factoring is the discounting of a foreign account receivable that does not involve a draft. The exporter transfers title to its foreign accounts receivable to a factoring house for cash at a discount from the face value. Factoring is often done without recourse to the exporter. Export factoring allows an exporter to ship on "open account," by which goods are shipped without guarantee of payment (that is, a letter of credit). The factor assumes financial ability of the customer to pay and handles collections on the receivables. See: Factoring House. Forfaiting.
Factoring Houses - Certain companies which purchase export receivables (e.g., the invoices to foreign buyers) at a discounted price, usually about two to four percent less than their face value.
Fair Value - The reference against which U.S. purchase prices of imported merchandise are compared during an antidumping investigation. Generally expressed as the weighted average of the exporter's domestic market prices, or prices of exports to third countries during the period of investigation. In some cases fair value is the constructed value. Constructed value is used if there are no, or virtually no, home market or third country sales or if the number of such sales made at prices below the cost of production is so great that remaining sales above the cost of production provide an inadequate basis for comparison. See: Tariff Act of 1930.
Feasibility Studies - See: Trade and Development Agency.
Flag of Convenience - A ship registered under the flag of a nation which offers conveniences in the areas of taxes, crew, and safety requirements.
Food For Development - See: Food for Peace.
Food for Peace - The "Food for Peace" program (also known as "P.L. 480), originally established by the 1954 Agricultural Trade and Development Act, is the primary means by which the U.S. provides foreign food assistance. The three primary objectives of the program are to: (a) expand U.S. agricultural exports, (b) provide humanitarian relief, and (c) aid the economic development of developing countries. Commodities are transferred in two ways: - By government-to-government long-term concessional financing or for local currencies in which priority is given to developing countries which demonstrate the greatest need for food, are undertaking measures to improve their food security and agricultural development, and are potential commercial markets for U.S. agricultural commodities -- Title I, administered by the Department of Agriculture; and - Donations or grants, including: + Donations of food commodities for distribution in meeting either emergency conditions or international cooperative non-emergency assistance -- Title II, administered by AID; and + Providing food assistance on a grant basis to least developed countries through government-to-government agreements. Proceeds derived from sales on the local market may be used to support a variety of economic development and related activities in the recipient countries -- Title III, administered by AID. This assistance is sometimes known as "Food For Development." See: Food for Progress Section 416
Food For Progress - The "Food for Progress" program, established by the 1985 Farm Bill, is carried out by the Department of Agriculture, using the authority of either Public Law 480 or Section 416 of the Agricultural Act of 1949. The program donates surplus government-owned agricultural commodities or Title I (of P.L. 480) funds to needy countries for development and agricultural reform purposes. Food for Progress operates in a less restrictive manner than either P.L. 480 or Section 416. See: Food for Peace Section 416.
Force Majeure - The title of a standard clause in marine contract exempting the parties for non-fulfillment of their obligations as a result of conditions beyond their control, such as earthquakes, floods, or war.
Foreign Sales Agent - An individual or firm that serves as the foreign representative of a domestic supplier and seeks sales abroad for the supplier.
Framework Agreement- Tokyo Round: - The Tokyo Round called for consideration to be given "to improvements in the international framework for the conduct of world trade." Four separate agreements make up what is known as the "framework agreement." They concern: (1) differential and more favorable treatment for, and reciprocity and fuller participation by, developing countries in the international framework for trade; (2) trade measures taken for balance of payments purposes; (3) safeguard actions for development purposes; and (4) an understanding on notification, consultation, dispute settlement, and surveillance in the GATT.- Enterprise for the Americas Initiative: Under the umbrella of the Enterprise for the Americas Initiative the United States and interested Western hemisphere countries are negotiating bilateral framework agreements which establish agreed upon stages for eliminating counter-productive barriers to trade and investment. They also provide a forum for bilateral dispute settlement. 'Generally, the bilateral framework agreements contain similar objectives. They are based on a statement of agreed principles regarding the benefits of open trade and investment, increased importance of services to economies, the need for adequate intellectual property rights protection, the importance of observing and promoting internationally-recognized worker rights, and the desirability of resolving trade and investment problems expeditiously. The parties establish a Council on Trade and Investment to monitor trade and investment relations, hold consultations on specific trade and investment matters of interest to both sides, and work toward removing impediments to trade and investment flows. Framework agreements do not bind signatories to implement specific trade liberalization measures.
Free Alongside Ship - Free Alongside Ship, FAS, at a named port of export. Under FAS, the seller quotes a price for the goods that includes charges for delivery of the goods alongside a vessel at the port of departure. The seller handles the cost of unloading and wharfage; loading, ocean transportation, and insurance are left to the buyer. FAS is also a method of export and import valuation.
Free Carrier ... (named point) - Free Carrier, FCA, to a named place. This term replaces the former "FOB named inland port" to designate the seller's responsibility for the cost of loading goods at the named shipping point. It may be used for multimodal transport, container stations, and any mode of transport, including air.
Free In - A pricing term indicating that the charterer of a vessel is responsible for the cost of loading goods onto the vessel.
Free In and Out - A pricing term indicating that the charterer of a vessel is responsible for the cost of loading and unloading goods from the vessel.
Free on Board - Free On Board (FOB) at a named port of export. The seller quotes the buyer a price that covers all costs up to and including delivery of goods aboard a vessel at a port. FOB is also a method of export valuation.
FOB Airport - FOB Airport is based on the same principle as the ordinary FOB term. The seller's obligations include delivering the goods to the air carrier at the airport of departure. The risk of loss of or damage to the goods is transferred from the seller to the buyer when the goods have been so delivered.
Free of Particular Average - F.P.A., a type of marine insurance, is the minimum coverage in use and covers total and partial losses if the ship carrying an exporter's goods is involved in a collision or fire, or is stranded or sunk. See: Marine Cargo Insurance.
Free on Rail/Free on Truck - These terms are synonymous, since the word "truck" relates to the railway wagons. The terms should only be used then the goods are to be carried by rail.
Free Out - A pricing term indicating that the quoted prices includes the cost of unloading the goods from the vessel.
Free Ports - Free ports are a form of free trade zone that usually encompass an entire port area (examples include Hong Kong and Singapore). See: Free Trade Zones.
Free Trade Agreement - An FTA is an arrangement which establishes unimpeded exchange and flow of goods and services between trading partners regardless of national borders. An FTA does not (as opposed to a common market) address labor mobility across borders, common currencies or uniform standards or other common policies such as taxes. Member countries of a free trade area apply their individual tariff rates to countries outside the free trade area.
Free Trade Area - A free trade area is a cooperative arrangement among two or more nations, pursuant to the General Agreement on Tariffs and Trade, whereby trade barriers are removed among the members. The arrangement generally includes a customs union with a common external tariff, although there are exceptions in which members maintain individually separate tariff schedules for external countries.
Free Trade Zones - "Free Trade Zones" (sometimes called "customs free zones" or "duty free zones") is a generic term referring to special commercial and industrial areas at which special customs procedures allow the importation of foreign merchandise (including raw materials, components, and finished goods) without the requirement that duties be paid immediately. If the merchandise is later exported, duty free treatment is given to reexports. The zones are usually located in or near ports of entry. Merchandise brought into these zones may be stored, exhibited, assembled, processed or used in manufacture prior to reexport or entry into the national customs territory. When manufacturing activity occurs in free trade zones, it usually involves a combination of foreign and domestic merchandise, and usually requires special governmental authority. Types of free trade zones include: foreign trade zones (and foreign trade subzones); free ports; and transit zones. See: Drawback Economic Zones Export Processing Zones Foreign Access Zones Foreign Trade Zones Free Ports Free Trade Area Transit Zones.
Freight All Kinds - FAK is a shipping classification. Goods classified FAK are usually charged higher rates than those marked with a specific classification and are frequently in a container which includes various classes of cargo.
Freight Carriage ... paid to - Like C & F, "Freight/Carriage paid to ..." means that the seller pays the freight for the carriage of the goods to the named destination. However, the risk of loss of or damage to the goods, as well as of any cost increases, is transferred from the seller to the buyer when the goods have been delivered into the custody of the first carrier and not at the ship's rail. The term can be used for all modes of transport including multi-modal operations and container or "roll on-roll off" traffic by trailer and ferries. When the seller has to furnish a bill of lading, waybill or carrier's receipt, he duly fulfills this obligation by presenting such a document issued by the person with whom he has contracted for carriage to the named destination.
Freight Carriage ... and insurance paid to - This term is the same as "Freight/Carriage Paid to ..." but with the addition that the seller has to procure transport insurance against the risk of loss of damage to the goods during the carriage. The seller contracts with the insurer and pays the insurance premium.
Freight Forwarder - An independent business which handles export shipments for compensation. At the request of the shipper, the forwarder makes the actual arrangements and provides the necessary services for expediting the shipment to its overseas destination. The forwarder takes care of all documentation needed to move the shipment from origin to destination, making up and assembling the necessary documentation for submission to the bank in the exporter's name. The forwarder arranges for cargo insurance, makes the necessary overseas communications, and advises the shipper on overseas requirements of marking and labeling. The forwarder operates on a fee basis paid by the exporter and often receives an additional percentage of the freight charge from the common carrier. An export freight forwarder must be licensed by the Federal Maritime Commission to handle ocean freight and by the International Air Transport Association (IATA) to handle air freight. An ocean freight forwarder dispatches shipments from the United States via common carriers, books or arranges space for the shipments, and handles the shipping documentation.
F - Free Out
F.P.A. - Free of Particular Average
F/X - Foreign Exchange
FAK - Freight All Kinds
FAS - Foreign Agricultural Service, Free Alongside Ship
FAZ - Foreign Access Zone
FBIS - Foreign Broadcast Information Service
FBP - Foreign Buyer Program
FBSEA - Foreign Bank Supervision Enhancement Act
FC - Foreign and Commonwealth Office
FCA - Free Carrier
FET - Foreign Economic Trends
FFP - Food For Progress
FGIS - Federal Grain Inspection Service
FI - Free In
FI - Free In and Out
FIAS - Foreign Investment Advisory Service
FIT - Foreign Independent Tour
FMS - Foreign Military Sales
FMV - Foreign Market Value
FOB - Free on Board
FOGS - Functioning of the GATT System
FOR/FOT - Free on Rail/Free on Truck
FOREX - Foreign Exchange
FRA - Forward (or Future) Rate Agreement
FS - Foreign Service Officer
FSs - Feasibility Studies
FSU - Former Soviet Union
FTA - Free Trade Agreement/Area
FTC - Federal Trade Commission
FTZ - Foreign Trade Zone
FTZ-SZ - Foreign Trade Zone-Subzone
F. & D. - Freight and demurrage
F. & A.P. - Fire and allied perils
f.a. - Free alongside
F.a.a. - Free of all average
f.a.c. - Fast as you can
F.A.O. - Food and agriculture Organization (U.N.)
f.a.q. - Fair average quality
f.a.s. - Free alongside ship, Firsts and seconds (American lumber)
f.c. & s. - Free of capture and seizure
F.C.A.R. - Free of claim for accident reported
F.C.I. - Full container loads
F.C.V. - Full contract value, Full completed value
f.d. - Free discharge. Free delivery. Free despatch. Free docks
F.D.O. - For declaration purposes only
f.f.a. - Free from alongside, Free foreign agency
F.F.O. - Fixed and floating objects
F.G.A. - Foreign general average
f.h. - Fore hatch
f.i - Free-in
f.i.a. - Full interest admitted
f.i.b. - Free into bunkers. Free into barge
F.I.C.S. - Fellow of the Institute of Chartered Shipbrokers
F.I.L. - Foreign insurance legislation
f.i.o. - Free-in-and-out
f.i.o.s. - Free in and out stowed
f.i.o.s.t. - Free in and out stowed and/or trimmed
f.i.o.t. - Free in and out trimmed
f.i.t. - Free of income tax
f.i.w. - Free in wagon
F.L.E. - Fire, lightning and explosion
f.o. - For orders, Firm offer, Full out terms (grain trade)
f.o.b. - free on board
f.o.c. - Free on car, Free of charge
F.O.C. - Flag of convenience, Free ofcommission, Free of charge, Free of claims
f.o.d. - Free of damage
F.O.M. - Flag, ownership and management
F.O.N.A.S.B.A. - Federation of National Association of Shipbrokers and Agents
f.o.q. - Free on quay
f.o.r. - Free on rail
f.o.r.t. - Full out rye terms (grain trade)
f.o.s. - Free on steamer
F.O.S.F.A. - Federation of Oils, Seeds & Fats Associations
f.o.t. - Free on truck
f.o.w. - Free on wagon. First open water
F.P. - Fully Paid. Floating (or open) policy
F.P.A. - Free of particular average
F.P.I.L. - Full premium if lost
F.P.T. - Forepeak tank
f.r. & c.c. - Free of riots and civil commotions
F.R.C. - Free of reported casualty
F.R.O. - Fire risk only
f.r.o.f - Fire risk on freight
f.s.l. - Full signed line (insurance)
F.S.R. & C.C. - Free of strikes, riots and civil commotions
f.t. - Full terms; despatch money, payable on all time saved on the chartered time for loading and discharging the cargo
F.T.A. - Freight Transport Association and Agents
f.t.r.r. & i. - For their repective rights and interests
F.V.C. - Fishing vessel clauses
f.w.d. - Fresh water damage
f.w.l. - Full written line (insurance)
F.W.T. & G.D. - Fair wear, tear and gradual deterioration
F/R - Freight release
Fac. - Facultative
Fac./oblig. - Facultative/obligatory
FAS - United States Foreign Agricultural Service
FCL - Full container load
FCS - Foreign Commercial Service
FEU - Forty-foot equivalent unit
FIDIC - Federation internationale des ingenieurs-conseils (International Federation of Consulting Engineers)
FIMBRA - Financial Intermediaries, Managers and Brokers Regulatory Association
FLASH - Feeder-LASH
fms. - Fathoms (timber)
fob - Free on board
Frt. - Freight
ft - Feet
Fth. - Fathom
fwd. - Forward
FX - Foreign Exchange
fairway - Navigable channel.
flag - Nationality of a ship or the country where the ship is registered.
flotsam - Floating wreckage from a shipwreck.
Foreign Branch Office - A sales (or other) office maintained in a foreign country and staffed by direct employees of the exporter.
Foreign Freight Forwarder - A corporation carrying on the business of forwarding who is not a shipper or consignee. The foreign freight forwarder receives compensation from the shipper for preparing documents and arranging various transactions related to the international distribution of goods. Also, a brokerage fee may be paid to the "forwarder" from steamship lines if the forwarder performs at least two of the following services: (1) coordination of the movement of the cargo to shipside; (2) preparation and processing of the Ocean Bill of Lading; (3) preparation and processing of dock receipts or delivery orders; (4) preparation and processing of consular documents or export declarations; (5) payment of the ocean freight charges on shipments.
Foreign Sales Agent - An agent residing in a foreign country who acts as a salesman for a domestic manufacturer.
Foreign Trade Zone Entry - A form declaring goods which are brought duty-free into a Foreign Trade Zone for further processing or storage and subsequent exportation and/or consumption.
Foreign Trade Zone - This is also referred to as a "free zone", ''free port'' or ''bonded warehouse.-- This is an area within a country where goods can be imported, stored, and/or processed without being subject to customs duties and taxes.
Free Alongside (F.A.S.) (or free alongside steamer) - The seller must deliver the goods to a pier and place them within reach of the ship's loading equipment. The buyer arranges ship space and informs the seller when and where the goods are to be placed.
Free In And Out (F.I.O.) - Cost of loading and unloading a vessel is borne by the charterer.
Free List - A list of goods that have been designated as free from import duties or import port licensing requirements in a given country .
Free Of Capture And Seizure (F.C. & S.) - An insurance clause providing that loss is not insured if due to capture, seizure, confiscation and like actions, whether legal or not, or from such acts as piracy, civil war, rebellion and civil strife.
Free Of Particular Average (F.P.A.) - A marine insurance clause providing that partial loss or damage is not insured. American condition (F.P.A.A.C.) -- Partial loss not insured unless caused by the vessel being sunk, stranded, burned, on fire, or in collision. English conditions (F.P.A.E.C.) -- Partial loss not insured unless a result of the vessel being sunk, stranded, burned, on fire, or in collision.
Free Out (F.O.) - Cost of unloading a vessel is borne by the charterer.
free port - Separate area within a port where goods which have been imported may be held without duty payment.
free pratique - See pratique.
Free Trade Area (FTA) - A group of two or more countries that have eliminated tariff barriers among themselves while not applying a uniform external tariff on imports ports from non-participating countries. The European Free Trade Association is the best known example of such an arrangement.
Free Trade Zone - An area to which goods may be imported for processing and subsequent export on duty-free basis.
freight - Used as a term or cargo.
Freight Forwarder - An agent whose functions are to help expedite shipments by preparing the necessary documents and making other arrangements for the movement of merchandise.