Schumacher Cargo Logistics | Glossary & Support

Senior Commercial Officer

admin — Mon, 11 May 2009 17:27:48 +0000

The SCO is the senior U.S. and Foreign Commercial Officer at an embassy and reports in-country to the Ambassador. At major posts, this position carries the title of Commercial Counselor; in key posts, Minister Counselor. Usually reporting to the SCO are a Commercial Attache and Commercial officers. The latter are sometimes assigned to subordinate posts throughout the country.

Ship repairers’ liability

admin — Mon, 11 May 2009 17:26:21 +0000

S.R.L. - Is commonly known as ship repairers’ liability.

C&F Named Port

admin — Tue, 21 Apr 2009 17:49:41 +0000

Cost and freight. All costs of goods and transportation to the named port are included in the price quoted. Buyer pays insurance while aboard ship up to overseas inland destination.

Validated Export License

admin — Thu, 16 Apr 2009 19:20:00 +0000

A document issued by the U.S. government authorizing the export of commodities for which written export authorization is required by law. Two types exist: an Individual Validated License (IVL) and a Special License.

Value-Added Tax

admin — Thu, 16 Apr 2009 19:08:16 +0000

A European Community (EC) tax assessed on the increased value of goods as they pass from the raw material stage through the production process to final consumption. The tax on processors or merchants is levied on the amount by which they increase the value of items they purchase. The EC charges a tax equivalent to the value added to imports and rebates value-added taxes on exports.

Western European Union

admin — Wed, 15 Apr 2009 21:43:02 +0000

The WEU was created in October 1954 (began operations in May 1955) to promote mutual defense and progressive political unification of its members. The Union, which serves interests between those furthered by the European Economic Community and the North Atlantic Treaty Organization, has faced the need to change and has become focused on three missions: humanitarian aid, peacekeeping, and crisis management and some peace enforcement considerations. Membership, which included Belgium, France, Germany, Italy, Luxembourg, the Netherlands, Portugal, Spain, the United Kingdom, has been increasing toward approximately 40 nations as a result of negotiations on membership or associate status with Greece, Turkey, Norway, Iceland, Denmark, and Ireland. WEU headquarters moved from London, England to Brussels, Belgium in December 1992.

Shipper’s Export Declaration

admin — Wed, 15 Apr 2009 21:39:33 +0000

The SED includes complete particulars on individual shipments and is used to control exports and act as a source document for the official U.S. export statistics. SEDs must be prepared for shipments through the U.S. Postal Service when the shipment is valued over $500. SEDs are required for shipments, other than by the U.S. Postal Service, where the value of commodities classified under each individual Schedule B number is over $2,500. SEDs must be prepared, regardless of value, for all shipments requiring a validated export license or destined for countries prohibited by the Export Administration Regulations. SEDs are prepared by the exporter and the exporter’s agent and delivered to the exporting carrier (such as: post office, airline, or vessel line). The exporting carrier presents the required number of copies to the U.S. Customs Service at the port of export. The Foreign Trade Statistical Regulations (15 CFR, Part 30) provide the statistical requirements for use by exporters, freight forwarders, and ocean carriers concerning preparation and filing of SEDs.

Safeguards

admin — Wed, 15 Apr 2009 21:38:11 +0000

The General Agreement on Tariffs and Trade (GATT) permits two forms of multilateral safeguards: (a) a country’s right to impose temporary import controls or other trade restrictions to prevent commercial injury to domestic industry, and (b) the corresponding right of exporters not to be deprived arbitrarily of access to markets. Article XIX of the GATT permits a country whose domestic industries or workers are adversely affected by increased imports to withdraw or modify concessions the country had earlier granted, to impose, for a limited period, new import restrictions if the country can establish that a product is “being imported in such increased quantities as to cause or threaten serious injury to domestic producers,” and to keep such restrictions in effect for a such time as may be necessary to prevent or remedy such injury.

Automated Commercial System (ACS)

admin — Thu, 09 Apr 2009 16:14:05 +0000

Automated Commercial System (ACS) - The electronic system of the U.S. Customs Service, encompassing a variety of industry sectors, that permits on-line access to information in selected areas.

CFR

admin — Thu, 09 Apr 2009 16:10:42 +0000

Used when referring to: Cost and Freight.