Import and Export Documentation
Expert-defined terms from the Specialist Certification in Trade Facilitation and Customs Law course at London School of Business and Administration. Free to read, free to share, paired with a globally recognised certification pathway.
Import and Export Documentation #
Import and Export Documentation
Import and Export Documentation are critical components of international trade t… #
Proper documentation is essential for tracking shipments, assessing duties and taxes, and verifying the origin and destination of goods. This glossary provides a comprehensive list of terms related to Import and Export Documentation for the Specialist Certification in Trade Facilitation and Customs Law.
1 #
Bill of Lading (B/L)
- Explanation: A Bill of Lading is a legal document issued by a carrier t… #
It serves as a receipt, contract of carriage, and document of title for the goods. The B/L includes details such as the type and quantity of goods, the destination, and the consignee. It is essential for claiming the goods at the destination port.
2 #
Commercial Invoice
- Explanation: A Commercial Invoice is a document issued by the seller to… #
It is used by customs authorities to assess duties and taxes, determine the origin of goods, and verify the accuracy of other documents.
3 #
Certificate of Origin
- Explanation: A Certificate of Origin is a document that certifies the o… #
It is used to determine eligibility for preferential trade agreements, calculate tariffs, and comply with import regulations. The type of COO required depends on the trade agreement in place.
4 #
Packing List
- Explanation: A Packing List is a document that provides a detailed list… #
It helps customs authorities verify the accuracy of the shipment and assists in the proper handling and storage of goods.
5 #
Import License
- Explanation: An Import License is a document issued by the government a… #
It is required for goods that are subject to restrictions, quotas, or other regulatory controls. Importers must obtain the necessary licenses before bringing the goods into the country.
6 #
Export License
- Explanation: An Export License is a document issued by the government a… #
It is required for goods that are subject to export controls, such as dual-use goods with military or security implications. Exporters must obtain the necessary licenses before shipping the goods.
7 #
Incoterms
- Explanation: Incoterms are a set of international rules published by th… #
They specify who is responsible for transportation, insurance, customs clearance, and other aspects of the transaction.
8 #
Customs Declaration
- Explanation: A Customs Declaration is a document that provides informat… #
It includes details such as the value, quantity, and description of the goods, as well as the terms of sale. The declaration is used to assess duties and taxes and ensure compliance with regulations.
9 #
Certificate of Conformity
- Explanation: A Certificate of Conformity is a document issued by a cert… #
It is required for certain products to enter foreign markets and demonstrates compliance with regulations and customer requirements.
10 #
Export Packing Declaration
- Explanation: An Export Packing Declaration is a document that provides… #
It helps ensure the safe and secure transportation of goods and compliance with export regulations.
11 #
Import Duty
- Explanation: Import Duty is a tax imposed by the government on imported… #
It is calculated based on the value, quantity, and classification of the goods, as well as any applicable preferential trade agreements. Import duties help protect domestic industries, generate revenue, and regulate trade.
12 #
Export Control
- Explanation: Export Control refers to government regulations that restr… #
Export controls aim to prevent the unauthorized transfer of sensitive items and technologies to prohibited end-users.
13 #
Import Quota
- Explanation: Import Quota is a restriction imposed by the government on… #
Quotas are used to protect domestic industries, manage supply and demand, and regulate trade in sensitive sectors.
14 #
Export Declaration
- Explanation: An Export Declaration is a document that provides informat… #
It is used to report exports to customs authorities, comply with export controls, and gather trade statistics. Exporters must submit the declaration before shipping the goods.
15 #
Import Inspection
- Explanation: Import Inspection is the process of examining imported goo… #
Inspections may be conducted by customs authorities, regulatory agencies, or third-party inspectors to verify the accuracy of documentation, assess the condition of goods, and detect any discrepancies.
16 #
Export License Verification (ELV)
- Explanation: Export License Verification is a process conducted by cust… #
ELV helps prevent the unauthorized export of controlled goods, ensure compliance with export regulations, and mitigate the risk of diversion to prohibited end-users.
17 #
Import Duty Drawback
- Explanation: Import Duty Drawback is a refund of customs duties paid on… #
Duty drawbacks are intended to promote exports, reduce production costs, and encourage domestic manufacturing by providing a financial incentive for businesses.
18 #
Export Declaration Verification (EDV)
- Explanation: Export Declaration Verification is a process conducted by… #
EDV helps detect discrepancies, prevent misclassification of goods, and ensure compliance with export controls and reporting requirements.
19 #
Import License Allocation
- Explanation: Import License Allocation refers to the distribution of im… #
Allocation methods may include auctions, lotteries, or first-come, first-served systems. Importers must apply for and obtain the necessary licenses to import restricted goods.
20 #
Export Control Classification Number (ECCN)
- Explanation: Export Control Classification Number is a unique code assi… #
The ECCN indicates the level of control, licensing requirements, and restrictions on the export of specific items. Exporters must determine the ECCN of their products to comply with regulations.
21 #
Import Clearance Certificate
- Explanation: Import Clearance Certificate is a document issued by custo… #
The certificate indicates that the goods have been inspected, assessed for duties and taxes, and released for entry into the country. Importers must present the certificate to claim their goods.
22 #
Export Packing List
- Explanation: An Export Packing List is a document that provides a detai… #
It helps verify the accuracy of the shipment, facilitate customs clearance, and ensure the proper handling of goods during transportation.
23 #
Import Duty Exemption
- Explanation: Import Duty Exemption is a waiver of customs duties grante… #
Duty exemptions aim to promote trade, support economic development, and facilitate the importation of essential goods.
24 #
Export License Revocation
- Explanation: Export License Revocation is the cancellation or suspensio… #
Revoked licenses prevent exporters from shipping controlled goods and may result in penalties or legal consequences.
25 #
Import Duty Assessment
- Explanation: Import Duty Assessment is the process of calculating and c… #
Duties are assessed by customs authorities to generate revenue, protect domestic industries, and regulate international trade.
26 #
Export License Application
- Explanation: Export License Application is the formal process of reques… #
Exporters must submit a license application to the relevant authorities, provide detailed information about the goods, end-users, and destination, and comply with licensing requirements to obtain approval for the shipment.
27 #
Import Duty Deferral
- Explanation: Import Duty Deferral is a temporary postponement of custom… #
Duty deferral helps reduce upfront costs, facilitate international trade, and support supply chain efficiency.
28 #
Export License Compliance
- Explanation: Export License Compliance refers to the adherence to regul… #
Exporters must comply with licensing requirements, maintain accurate records, report export activities, and ensure that controlled goods are exported to authorized end-users in accordance with the terms of the license.
29 #
Import Duty Suspension
- Explanation: Import Duty Suspension is a temporary exemption from custo… #
Duty suspension helps reduce costs, promote trade, and support economic development by facilitating access to essential goods.
30 #
Export License Renewal
- Explanation: Export License Renewal is the process of extending the val… #
Exporters must apply for license renewal before the expiration date, update any changes in export activities or product specifications, and comply with licensing requirements to continue exporting controlled goods.
31 #
Import Duty Remission
- Explanation: Import Duty Remission is a full or partial refund of custo… #
Duty remissions aim to correct errors, provide relief to importers, and support trade activities that benefit the economy.
32 #
Export License Compliance Audit
- Explanation: Export License Compliance Audit is a systematic examinatio… #
Audits help identify non-compliance issues, prevent violations, and improve export control practices within the organization.
33 #
Import Duty Refund
- Explanation: Import Duty Refund is a reimbursement of customs duties pa… #
Duty refunds are granted to correct errors, provide relief to importers, and support trade activities that benefit the economy and promote international commerce.
34 #
Export License Compliance Program
- Explanation: Export License Compliance Program is a set of policies, pr… #
Compliance programs include risk assessments, training, audits, and monitoring activities to prevent violations and mitigate export control risks.
35 #
Import Duty Exemption Certificate
- Explanation: Import Duty Exemption Certificate is a document issued by… #
Duty exemption certificates help reduce costs, promote trade, and support economic development.
36 #
Export License Compliance Officer
- Explanation: Export License Compliance Officer is an individual respons… #
The compliance officer ensures that export licenses are obtained, maintained, and implemented correctly, and that export activities are conducted in accordance with regulatory requirements and licensing conditions.
37 #
Import Duty Recovery
- Explanation: Import Duty Recovery is the process of reclaiming overpaid… #
Duty recovery may result from errors in duty calculation, classification, valuation, or eligibility for duty relief programs. Importers can request duty recovery from customs authorities to correct the errors and obtain refunds.
38 #
Export License Compliance Training
- Explanation: Export License Compliance Training is the education and in… #
Training programs cover topics such as export controls, licensing procedures, recordkeeping, and reporting to promote compliance and prevent violations.
39 #
Import Duty Recovery Program
- Explanation: Import Duty Recovery Program is a structured process imple… #
The program includes audits, analysis of duty payments, identification of errors, and submission of claims for duty recovery to customs authorities to correct the discrepancies and obtain refunds.
40 #
Export License Compliance System
- Explanation: Export License Compliance System is a technology platform… #
Compliance systems help streamline export control practices, ensure accuracy, and enhance efficiency in managing export licenses and regulatory requirements.
41 #
Import Duty Suspension Certificate
- Explanation: Import Duty Suspension Certificate is a document issued by… #
Duty suspension certificates facilitate trade, support economic development, and promote the importation of essential goods by reducing costs and barriers to entry.
42 #
Export License Compliance Manual
- Explanation: Export License Compliance Manual is a document that outlin… #
The manual provides instructions, best practices, and reference materials to help employees understand and implement export control practices effectively.
43 #
Import Duty Suspension Program
- Explanation: Import Duty Suspension Program is a government initiative… #
Duty suspension programs aim to reduce costs, facilitate imports, and stimulate economic activity by removing barriers to trade and encouraging the importation of essential goods.
44 #
Export License Compliance Audit Checklist
- Explanation: Export License Compliance Audit Checklist is a tool used t… #
- Explanation: Export License Compliance Audit Checklist is a tool used to evaluate and verify compliance with export regulations, licensing requirements