foreign trade dictionary

War Risk Insurance – Insurance issued by the Navy that covers all war risks as specified in the policy. Generally this risk is only mentioned in the event of war anywhere in the world, but many exporters prefer to cover their shipments with this clause in order to be protected from any eventuality.

Covered place, where materials/products are received, classified, stored and shipped.

Storage cost

Warehouse Control Systems.

It is the fee charged by the administration of a port for its use, in operations involving docking, loading, unloading and storage on docks and warehouses linked to the port, it is the same as foremanship.

Wholesaler

A term of insurance which means that partial loss or damage to the goods is insured. The loss can normally be generated by sea water and other factors, determined by a minimum percentage, before payment. It can ensure other reasons of force majeure, such as sinking of the vessel, among others.

Free Zone, a port designated by the government for the entry of non-prohibited products, free of taxes and any other charges. Documents are stored, displayed and used for manufacturing within that zone and re-exported without payment of expenses/fees. Taxes will only be charged if the goods exceed the permitted area.

Area occupied by ports, airports and/or customs border points.

It comprises the customs territory, excluding the primary zone, including territorial waters and air space. These are warehouses authorized by the Federal Revenue Service to receive goods that will be exported or that are being imported