| air waybill | A bill of lading issued by an air carrier
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| Automated Commercial System (ACS) | Electronic tracking system used by U.S. Customs to track, control, and process all commercial goods imported into the United States
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| automated export system (AES) | U.S. Customs electronic filing system
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| banker's acceptance | A time draft with maturity of less than 270 days that has been accepted by the bank on which the draft was drawn, thus becoming the accepting bank's obligation; may be bought and sold at a discount in the financial markets like other commercial paper
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| bonded warehouse | An area authorized by customs authorities for storage of goods on which payment of import duties is deferred until the goods are removed
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| CE (Conformite Europeene) mark | EU mark that indicates that the merchandise conforms to European health, safety and environmental requirements
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| confirmed L/C | A confirmation made by a correspondent bank in the seller's country by which it agrees to honor the issuing bank's letter of credit
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| customhouse broker | Independent businesses that handle import shipments for compensation
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| customs drawbacks | Rebates on customs duties
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| Ex-Im Bank | Principal government agency that aids American exporters by means of loans, guarantees, and insurance programs
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| export bill of lading (B/L) | Contract of carriage between shipper and carrier: straight bill of lading is nonnegotiable; endorsed "to order" bill gives the holder claim on merchandise
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| export, sight, and time drafts | An unconditional order drawn by the seller that instructs the buyer to pay the draft's amount on presentation (sight draft) or at an agreed future date (time draft) and that must be paid before the buyer receives shipping documents
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| Ex-Works | INCOTERM equivalent of FOB
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| factoring | Discounting without recourse an account receivable
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| FOB | Pricing policy in which risks pass from seller to buyer at the factory door; U.S. equivalent of Ex-Works
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| foreign trade zone (FTZ) | Duty-free area designed to facilitate trade by reducing the effect of customs restrictions
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| forfaiting | Purchasing without recourse an account receivable whose credit terms are longer than the 90 to 180 days usual in factoring; unlike factoring, political and transfer risks are borne by the forfaiter
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| free trade zone | An area designated by the government as outside its customs territory
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| general export license | Any export license covering export commodities for which a validated license is not required; no formal application is required
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| Harmonized Tariff Schedule of the United States (HTSUSA) | American version of the Harmonized System used worldwide to classify imported products
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| INCOTERMS | Universal trade terminology developed by the International Chamber of Commerce
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| irrevocable L/C | A stipulation that a letter of credit cannot be canceled
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| letter of credit (L/C) | Document issued by the buyer's bank in which the bank promises to pay the seller a specified amount under specified conditions
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| Overseas Private Investment Corporation (OPIC) | Government corporation that offers American investors in developing countries insurance against expropriation, currency inconvertibility, and damages from wars and revolutions
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| pro forma invoice | Exporter's formal quotation containing a description of the merchandise, price, delivery time, method of shipping, terms of sale, and points of exit and entry
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| shipper's export declaration (SED) | U.S. Department of Commerce form used to control export shipments and record export statistics
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| terms of sale | Conditions of a sale that stipulate the point at which all costs and risks are borne by the buyer
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| validated export license | A required document issued by the U.S. government authorizing the export of a strategic commodity or a shipment to an unfriendly country
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