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Schumacher Cargo Logistics
C&F Named Port
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. Read More →
Validated Export License
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. Read More →
Value-Added Tax
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...
Western European Union
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...
Shipper’s Export Declaration
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,...
Safeguards
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...
Automated Commercial System (ACS)
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. Read More →
CFR
Used when referring to: Cost and Freight. Read More →
Air Waybill – AWB
An AWB is a bill of lading, a non-negotiable instrument of air cargo transport, covering both domestic and international flights for the transportation of goods to a specified destination. An executed AWB serves as an indication that the air cargo carrier has accepted the goods detailed in the AWB and...
Importer Security Filing (ISF)
Commonly know as the “10+2″ imitative, is a Customs and Border Protection (CBP) regulation that requires importers and vessel operating carriers to provide additional advance trade data to Customs and Border Protecting (CBP) pursuant to Section 203 of the SAFE Port Act of 2006 and section...