Exim Terms                                    

See Export management company.

See Export trading company.

U.S. dollars placed on deposit in banks outside the United States; usually refers to deposits in Europe.

From. When used in pricing terms such as "ex factory" or "ex dock," it signifies that the price quoted applies only at the point of origin (in the two examples, at the seller's factory or a dock at the import point). In practice, this kind of quotation indicates that the seller agrees to place the goods at the disposal of the buyer at the specified place within a fixed period of time.

A government permit sometimes required by the importer's government to enable the import firm to convert its own country's currency into foreign currency with which to pay a seller in another country.

The price of one currency in terms of another, that is, the number of units of one currency that may be exchanged for one unit of another currency.

Export-Import Bank of the United States.

An individual or firm that brings together buyers and sellers for a fee but does not take part in actual sales transactions.

An organization which, for a commission, acts as a purchasing agent for a foreign buyer.

See Shipper's export declaration.

A government document that permits the licensee to export designated goods to certain destinations. See General export license and Individually validated export license.

A private firm that serves as the export department for several producers of goods or services, either by taking title or by soliciting and transacting export business on behalf of its clients in return for a commission, salary, or retainer plus commission.

A firm similar or identical to an export management company.

Exim Terms                                    

Free alongside ship. A pricing term indicating that the quoted price includes the cost of delivering the goods alongside a designated vessel.

"Free carrier" to named place. Replaces the former term "FOB named inland port" to designate the seller's responsibility for the cost of loading goods at the named shipping point. May be used for multimodal transport, container stations, and any mode of transport, including air.

Foreign Credit Insurance Association.

Free in. A pricing term indicating that the charterer of a vessel is responsible for the cost of loading and unloading goods from the vessel.

See Open policy.

Free out. A pricing term indicating that the charterer of a vessel is responsible for the cost of loading goods from the vessel.

"Free on board" at named port of export. A pricing term indicating that the quoted price covers all expenses up to and including delivery of goods upon an overseas vessel provided by or for the buyer.

The title of a standard clause in marine contracts exempting the parties for nonfulfillment of their obligations as a result of conditions beyond their control, such as earthquakes, floods, or war.

The currency or credit instruments of a foreign country. Also, transactions involving purchase or sale of currencies.

See Freight forwarder.

An individual or firm that serves as the foreign representative of a domestic supplier and seeks sales abroad for the supplier.

A receipt for goods issued by a carrier with an indication that the goods were damaged when received. Compare Clean bill of lading.

An area such as a port city into which merchandise may legally be moved without payment of duties.

A port designated by the government of a country for duty-free entry of any nonprohibited goods. Merchandise may be stored, displayed, used for manufacturing, etc., within the zone and reexported without duties being paid. Duties are imposed on the merchandise (or items manufactured from the merchandise) only when the goods pass from the zone into an area of the country subject to the customs authority.

An independent business that handles export shipments for compensation. (A freight forwarder is among the best sources of information and assistance on export regulations and documentation, shipping methods, and foreign import regulations.)