foreign trade dictionary

CBU (Completely Built-Up) Refers to products that are assembled in a foreign country and are subsequently imported into the local market as a complete, operable product

Letter of Correction CCA – for air waybills, and CC – for maritime waybills is a document issued to correct mistakes in the issuance of international Bills of Lading

Agreement on Reciprocal Payments and Credits Payment system controlled by central banks that covers the ALADI countries and the Dominican Republic.

Manufacture Certificate: A document used under a Letter of Credit, containing the guarantee that the goods were manufactured and are awaiting authorization for shipment at the risk and risk (of time) of the buyer.

Certificate of Origin: A document that guarantees the origin of the imported goods. Used for customs purposes, or negotiation between foreign countries, or both. This certificate is usually issued by an official organization in the home country such as a Consulate or Chamber of Commerce. It should be clarified that the document certifies the country where the cargo was produced (origin) and not where it was shipped (origin).

INCOTERM CFR (cost and freight) The seller is responsible for the goods until they are shipped on the ship, from then on all responsibilities pass to the buyer, that is, when the seller places the goods on the ship , it disclaims all liability for loss, damage and theft. However, the seller is responsible for paying the international maritime freight to the port of destination.

Chamber of Commerce; Association of importers and exporters with the main objective of developing trade with each other.

Taxed or Cubed Weight: Weight by which freight will be calculated.

Chartering; rental of ships or aircraft by time or by trip, at the price and conditions established by the Charter Agreement.

Import Proof.

Contribution for Intervention on the Economic Domain, levied on oil and derivatives.