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R |
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Exim
Terms
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| |
Remitting bank |
|
The bank that sends the draft to the overseas bank for collection.
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|
| Representative |
See
Foreign sales agent.
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| Revocable
letter of credit |
A
letter of credit that can be canceled or altered by the drawee
(buyer) after it has been issued by the drawee's bank. Compare
Irrevocable letter of credit.
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| |
S |
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Exim
Terms
|
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| |
Shipper's export declaration |
|
A form required for all shipments by the U.S. Treasury Department
and prepared by a shipper, indicating the value, weight,
destination, and other basic information about an export shipment.
|
|
| Ship's
manifest |
An
instrument in writing, signed by the captain of a ship, that lists
the individual shipments constituting the ship's cargo.
|
| Sight
draft (S/D) |
A
draft that is payable upon presentation to the drawee. Compare Date
draft and Time draft.
|
Spot
exchange
|
The
purchase or sale of foreign exchange for immediate delivery.
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| Standard
industrial classification (SIC) |
A
standard numerical code system used to classify products and
services.
|
| Standard
international trade classification (SITC) |
A
standard numerical code system developed by the United Nations to
classify commodities used in international trade.
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| Steamship
conference |
A
group of steamship operators that operate under mutually agreed-upon
freight rates.
|
| Straight
bill of lading |
A
nonnegotiable bill of lading in which the goods are consigned
directly to a named consignee.
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| |
T |
|
Exim
Terms
|
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| |
Tare weight
|
|
The weight of a container and packing materials without the weight
of the goods it contains. Compare Gross weight.
|
|
| Tenor
(of a draft) |
Designation
of a payment as being due at sight, a given number of days after
sight, or a given number of days after date.
|
| Through
bill of lading |
A
single bill of lading converting both the domestic and international
carriage of an export shipment. An air waybill, for instance, is
essentially a through bill of lading used for air shipments. Ocean
shipments, on the other hand, usually require two separate documents
- an inland bill of lading for domestic carriage and an ocean bill
of lading for international carriage. Through bills of lading are
insufficient for ocean shipments. Compare Air waybill, Inland bill
of lading, and Ocean bill of lading.
|
| Time
draft |
A
draft that matures either a certain number of days after acceptance
or a certain number of days after the date of the draft. Compare
Date draft and Sight draft (see chapter 13).
|
| Tramp
steamer |
A
ship not operating on regular routes or schedules.
|
| Transaction
statement |
A
document that delineates the terms and conditions agreed upon
between the importer and exporter.
|
Trust
receipt
|
Release
of merchandise by a bank to a buyer in which the bank retains title
to the merchandise. The buyer, who obtains the goods for
manufacturing or sales purposes, is obligated to maintain the goods
(or the proceeds from their sale) distinct from the remainder of his
or her assets and to hold them ready for repossession by the bank.
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| |
W |
|
Exim
Terms
|
|
| |
Warehouse receipt |
|
A receipt issued by a warehouse listing goods received for storage.
|
|
| Wharfage |
A
charge assessed by a pier or dock owner for handling incoming or
outgoing cargo.
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| Without
reserve |
A
term indicating that a shipper's agent or representative is
empowered to make definitive decisions and adjustments abroad
without approval of the group or individual represented. Compare
Advisory capacity
|
