Glossary of Trade & Shipping Terms

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Glossary of Trade & Shipping Terms - C2

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Committee on Renewable Energy, Commerce, and Trade - CORECT facilitates the cost-effective use of U.S. renewable energy products and services around the world. The Committee is comprised of 14 federal agencies: the Departments of Commerce, Defense, Energy, Interior, State, and Treasury, the Agency for International Development, Environmental Protection Agency, Export-Import Bank, Overseas Private Investment Corporation, Small Business Administration, Trade and Development Agency, United States Information Agency, and U.S. Trade Representative. The Committee, chaired by Energy, was established by legislation in 1984.
Committee on Trade and Development - The CTD was established in 1965 to consider how the General Agreement on Tariffs and Trade (GATT) can aid the economic development of Less Developed Country (LDC) contracting parties (that is, LDC members).
Commodity Control List - See: Commerce Control List.
Commodity Credit Corporation - The CCC finances a variety of federal domestic and international farm programs, including Title I, Title II, and Title III of Public Law 480 (Food for Peace). The CCC is a government-owned and operated corporation within the U.S. Department of Agriculture (USDA), and is managed by a board of directors headed by the Secretrary of Agriculture. All members of the board and the corporation's officers and staff are officals of USDA. The CCC provides financing and stability to the marketing and exporting of agricultural commodities.
Commodity Import Programs - CIPs finance the export of U.S. goods to U.S.-aid recipient countries. Under CIPs, the Agency for International Development (AID) makes dollars available to the assisted country on a loan or grant basis to pay for essential commodity imports. In nearly all cases, these imports come from the United States. CIPs are used to provide relatively fast disbursing balance of payments support or to generate local currency for budget support for project goals, particularly in efforts designed to encourage private sector development. CIP agreements usually provide for AID's financing of a wide variety of basic items including agricultural goods, construction and transportation equipment, fertilizer, chemicals, raw materials, semi-finished products, and foodstuffs. CIPs do not finance military or police equipment, luxury items, or items of questionable safety or efficacy. In some cases, the range of allowable commodities is narrowed in order to tailor them to development needs of particular sectors in the assisted country or to accomplish other, specific development goals.
Commodity Jurisdiction - Export jurisdiction of products is administered by the State Department's Office of Defense Trade Controls (DTC) if the commodities are defense articles, technical data, and services or by the Commerce Department's Bureau of Export Administration if the commodities are dual-use items. An exporter may request DTC to conduct a commodity jurisdiction (CJ) review if the exporter is uncertain as to whether an item is covered by the United States Munitions List (USML) or believes it has been inappropriately placed on the list. CJ procedures include deadlines for making a determination and the use of criteria assessing: (a) performance, (b) significant military or intelligence applicability, and (c) significant civilian applicability.
Common Agricultural Policy - The CAP is a set of regulations by which members states of the European Community (EC) seek to merge their individual agricultural programs into a unified effort to promote regional agricultural development, fair and rising standards of living for the farm population, stable agricultural markets, increased agricultural productivity, and methods of dealing with food supply security. Two of the principal elements of the CAP are the variable levy (an import duty amounting to the difference between EC target farm prices and the lowest available market prices of imported agricultural commodities) and export restitutions, or subsidies, to promote exports of farm goods that cannot be sold within the EC at the target prices.
Common Agricultural Policy (CAP) - A comprehensive system of production targets and marketing mechanisms designed to manage agricultural trade within the European Community and with the rest of the world.
Common External Tariff - A uniform tariff adopted by a customs union to be assessed on imports entering the union territory from countries outside the union; abbreviated: CET or CXT.
Common External Tariff (CET) - A uniform tariff adopted by a customs union (e.g.. European Community) to be assessed on imports entering a region from countries outside the union.
Common Market - A common market (as opposed to a free trade area) has a common external tariff and may allow for labor mobility and common economic policies among the participating nations. The European Community is the most notable example of a common market.
Common Monetary Agreement - South Africa, Lesotho, and Swaziland are members of the CMA under which they apply uniform exchange control regulations to ensure monetary order in the region. Funds are freely transferable among the three countries, and Lesotho and Swaziland have free access to South African capital markets. Lesotho also uses the South African currency, the rand. The CMA was formed in 1986 as a result of the renegotiation of the Rand Monetary Agreement (RMA) which was originally formed in 1974 by the same member countries.
Common Standard Level of Effective Protection - The common standard level of effective protection, CSP, refers to the minimum shared standards between the U.S. and CoCom members for implementing an effective export control system, including licensing and enforcement elements.
Commonwealth - A commonwealth is a free association of sovereign independent states that has no charter, treaty, or constitution. The association promotes cooperation, consultation, and mutual assistance among members. The British Commonwealth (with headquarters in London, England) is the most notable example; it included 50 states at the beginning of 1991.
Commonwealth Development Corporation - The CDC is a British public corporation which provides medium- and long-term loans and equity financing for development-related private and public sector projects in selected countries. CDC financing is available for projects in the folowing sectors: agriculture (livestock, horticulture, and acquaculture), forestry, fishing, mineral extraction, industry, public utilties, transport, telecommunications, low-cost housing, hotels, construction and civil engineering, financial management and consultancy services, and leasing of assests. The Corporation does not invest in schools, colleges, hospitals, public service works or broadcasting. Since 1969, CDC has been able to invest in non-Commonwealth countries with ministerial agreement. The CDC was established in 1948; headquarters are in London, England.
Commonwealth of Independent States - The CIS was established in December 1991 as an association of 11 republics of the former Soviet Union. The members include: Russia, Ukraine, Belarus (formerly Byelorussia), Moldova (formerly Moldavia), Armenia, Azerbaijan, Uzbekistan, Turkmenistan, Tajikistan, Kazakhstan, and Kirgizstan (formerly Kirghiziya). The Baltic states did not join. Georgia maintained observer status, before joining the CIS in November 1993. Until that time, the NIS (Newly Independent States) differed from the CIS in that the NIS is a collective reference to 12 Soviet republics, including Georgia.
Communaute Economique de l'Afrique de l'Ouest - See: West African Economic Community.
Communaute Economique des Etats de l'Afrique Centrale - See: Economic Community of Central African States.
Communaute Economique des Pays des Grands Lacs - See: Economic Community of the Great Lakes Countries.
Communautes Europeenes - The CE mark is applied to products, their packaging or paperwork as a declaration of conformity, third party testing and/or certification, quality assurance audit and/or full type approval by a body authorized by a European Economic Community member state and recognized by the European Commission. Effective January 1, 1993, the CE mark on a product attests that it complies with all in-force Directives pertinent to it. The CE mark preempts all other European Community national safety marks. If it is discovered that the CE mark has been improperly affixed, the product in question will be prohibited and no longer marketed. Legal penalties are at the discretion of each member state.
Communications Satellite Corporation - COMSAT was established in 1963 under provision of the Communications Satellite Act of 1962. The legislation directed that COMSAT establish the world's first commercial international satellite communications system. The Act also stipulated that the company operate as a shareholder-owned "for-profit" corporation. COMSAT represents the U.S. in the International Telecommunications Satellite Organization.
Comp. T.L. - Compromised total loss
Compagnie Francaise d'Assurance pour le Commerce Exterieur - COFACE is a French company acting as a commercial export finance agency by insuring short-term political and commercial risk and by facilitating the financing for export credit. Any French exporter (manufacturers, intermediaries, confirmers, and merchants) of French goods and services can be insured for sales abroad. In conjunction with the Banque Francaise du Commerce Exterieur and other banks and institutions, COFACE provides services similar to the Export-Import Bank. COFACE was established in 1946; headquarters are in Paris, France. See: Banque Francaise du Commerce Exterieur.
Compensation - A GATT principle which holds that if any member country raises a tariff above its bound rate, withdraws a binding or otherwise violates a trade concession with GATT justification, the party must lower other tariffs or make other concessions to offset the disadvantage suffered by trading partners or face offsetting actions (retaliation) by affected parties.
Compensatory and Contingency Financing Facility - The CCFF is an International Monetary Fund (IMF) facility which provides resources to an IMF member for a shortfall in export earnings or an excess in cereal import costs that is due to factors largely beyond the member's control and which is temporary. Compensatory financing, introduced in 1963 and broadened several times, provides aid to members experiencing balance of payments problems as a result of fluctuations in commodity prices and shortfalls of receipts in tourism, "workers' remittances" and most services. Contingency financing helps members with IMF-supported adjustment programs to maintain the momentum of adjustment efforts in the face of a broad range of unanticipated, adverse external shocks -- for example, changes in international interest rates or prices or primary imports or exports.
Composite Currency Peg - See: Exchange Rate Classifications.
Composite Theoretical Performance - Computer hardware export license requirements are evaluated according to Composite Theoretical Performance (CTP), which replaced the former Processing Data Rate (PDR) parameter. CTP is measured in Million Theoretical Operations Per Second (MTOPS). CTP was developed by the U.S. as a new parameter, and was adopted by CoCom during the Core List negotiations, because PDR was not applicable to certain modern computer architectures such as vector processors, massively parallel processors, and array processors. CTP is designed to measure all of these architectures, as well as signal processing equipment.
COMPRO - COMPRO is an on-line trade data retrieval system maintained by the International Trade Administration within the U.S. Department of Commerce. The system is exclusively for use within the federal government trade community (ITA, USTR, ITC, and other executive branch agencies. It is also the oldest and best known component of the Trade Policy Information System (TPIS). COMPRO is slated to be replaced in the FY 1995-96 TPIS modernization, but its functions will remain available in an expanded and generalized form. See: Trade Policy Information System.
COMSAT - Communications Satellite Corporation
Concession - A tariff reduction, tariff binding, or other agreement to reduce import restrictions; usually accorded pursuant to negotiation in return for concessions by other parties.
Conditional Most-Favored-Nation Treatment - The according of Most Favored Nation (MFN) treatment subject to compliance with specific terms or conditions. All members of GATT, including the United States, accord unconditional MFN treatment to most other GATT members. The United States, howeerms of Title IV of the Trade Act of 1974.
Conds. - Conditions
Confederation Internationale du Credit Agricole - COCA (English: International Confederation of Agricultural Credit, ICAC) coordil credit banks and other institutions which provide or study agricultural credits. ICAC was established in 1932; headquarters are in Zurich, Switzerland.
Conference Europeenne des Administrations des Postes et des Telecommunications - CEPT (English: lecommunciations services. Many CEPT standards creating activities have been assumed by the European Telecommunications Standards Institute. CEPT maintains offices in Paris, France and Bern, Switzerland. See: European Telecommunications Standards Institute.
Co's Council for Mutual Economic Assistance (CMEA or COMECON). CSCE administers residual tariffs and quotas and relations with other organizations.

Confirmed Letter of Credit - A letter of credit, issued by a foreign bank, whose validity has been confirmed by an American bank. An exporter whose payment terms are a confirmed letter of credit is assured of payment even if the foreign buyer or the foreign bank defaults.
Confirming - Confirming is a financial service in which an independent company confirms an export order in the seller's country and makes payment for the goods in the currency of that country. Among the items eligible for confirmation are the goods; inland, air, and ocean transportation costs; forwarding fees; custom brokerage fees; and duties. Confirming permits the entire export transaction from plant to end user to be fully coordinated and paid for over time. It is mainly a European practice.
Conformite Europeene - The CE mark signifies that a product meets specific EC-wide conformity assessment requirements. The mark does not endorse the quality or durability of a product, but only that it satisfies mandatory technical requirements. The designation is needed for sale of products which become subject ot Community-wide "new-approach" directives. See: European Norm.
conlinebill - Liner bill of lading published by the Baltic and International Maritime Conference (B.I.M.C.O.).
Conseil de Cooperation Douaniere - See: Customs Cooperation Council.
Conseil de l'Entente - The Conseil de l'Entente (Entente Council) is an alliance of Benin, Burkina Faso, C"te d'Ivoire, Niger (all formerly part of French West Africa), and Togo (which joined in 1966). The Council was established in 1959; headquarters are in Abidjan, C"te d'Ivoire.
Consgt. - Consignment
consignee - Person to whom goods are to be delivered at a particular destination by a carrier.
Consignee - The person or firm named in a freight contract to whom goods have been consigned or turned over. For export control purposes, the documentation differentiates between an "intermediate" consignee and an "ultimate" consignee.
Consignee Marks - A symbol placed on packages for export for identification purposes; generally consisting of a triangle, square, circle, diamond, cross, with letters and/or numbers as well as port of discharge.
Consignment - Delivery of merchandise from an exporter (the consignor) to an agent (the consignee) under agreement that the agent sell the merchandise for the account of the exporter. The consignor retains title to the goods until sold. The consignee sells the goods for commission and remits the net proceeds to the consignor.
consignor - Person who gives goods to a carrier for delivery to a consignee.
Consortia of American Businesses in Eastern Europe - The CABEE program, administered by the U.S. Department of Commerce, provides grants of up to $500,000 to each of five non-profit consortia of for-profit companies to cover up to one-half of costs of starting-up commercial operations in Eastern Europe. Launched under the American Business and Private-Sector Development Initiative for Eastern Europe, CABEE is intended to help overcome difficulties faced by small and medium-sized firms in entering Eastern Europe markets. CABEE was established in June 1991.
Consortia of American Businesses in the Newly Independent States - CABNIS is a cooperative, cost-sharing program of government and the private sector that helps non-profit business consortia establish a commercial presence and pursue business in the Newly Indpendent States on behalf of profit-making U.S. corporations and associations. The program provides matching government grants of up to $500,000 to each consortia. CABNIS, established in July 1992, is administered by the Commerce Department's International Trade Administration. CABNIS was established in July 1992.
Constructed Value - A means of determining fair or foreign market value when sales of such or similar merchandise do not exist or, for various reasons, cannot be used for comparison purposes. The "constructed value" consists of the cost of materials and fabrication or other processing employed in producing the merchandise, general expenses of not less than 10 percent of material and fabrication costs, and profit of not less than 8 percent of the sum of the production costs and general expenses. To this amount is added the cost of packing for exportation to the United States. See: Tariff Act of 1930.
Consul - A government official residing in a foreign country who is charged with the representation of the interests of his country and its nationals.
Consular Declaration - A formal statement describing goods to be shipped, made to the consul of the country of destination. Approval must be obtained prior to shipment.
Consular Declaration - A formal statement, made to the consul of a foreign country, describing goods to be shipped.
Consular Information Sheet - See: Travel Advisory Program.
Consular Invoice - A document required by some foreign countries showing exact information as to consignor, consignee, value and description of shipment.
Consular Invoice - A document, required by some foreign countries, describing a shipment of goods and showing information such as the consignor, consignee, and value of the shipment. Certified by a consular official of the foreign country, it is used by the country's customs officials to verify the value, quantity, and nature of the shipment.
Consulate - See: Title and Rank.
Consulate - The jurisdiction, terms of office, or official premises of a consul.
Consultative Committee for International Telephone and Telegraphy - CCITT facilitates U.S. coordination of communications standards issues. CCITT is a part of the International Telecommunications Union (ITU), which is an international treaty organization. The State Department is responsible for coordinating and presenting U.S. positions to the ITU. See: International Telecommunications Union.
Consultative Group on International Agricultural Research - CGIAR, an informal association of public and private sector donors, supports international agricultural research centers (IARCs) around the world. The centers develop new ways to increase sustainable food production and improve the nutritional and economic well-being of low-income people. CGIAR, sponsored by the World Bank and other international organizations, was established in 1971; its Secretariat is in Washington, D.C. The research centers include: - Centro Internacional de Agricultura Tropical (CIAT), Colombia - Centro Internacional de Mejoramiento de Maiz y Trigo (CIMMYT), Mexico - International Board for Plant Genetic Resources (IBPGR), Italy - International Center for Agricultural Research in Dry Areas (ICARDA), Syria - International Centre for Research in Forestry (ICRAF), Kenya - International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), India - International Food Policy Research Institute (IFPRI), United States - International Irrigation Management Institute (IIMI), Sri Lanka - International Institute of Tropical Agriculture (IITA), Nigeria - International Livestock Center for Africa (ILCA), Ethiopia - International Laboratory for Research on Animal Diseases (ILRAD), Kenya - International Network for the Improvement of Banana and Plantain (INIBAP), France - International Rice Research Institute (IRRI), Philippines - International Service for National Agricultural Research (ISNAR), Netherlands and - West Africa Rice Development Association (WARDA), C"te d'Ivoire.
Consumption Entry - An official form used for declaration of value, description and the total duty due on such transaction.
Cont. - Continent of Europe
Cont.(A.H.) - Continent, Antwerp-Hamburg range
Cont.(B.H.) - Continent, Bordeaux-Hamburg range
Cont.(H.H.) - Continent, Havre-Hamburg range
Contadora Group - The Contadora Group, which first met on the Panamanian island of Contadora in January 1983, seeks solutions to conflict in Central America. Members include the foreign ministers of Colombia, Mexico, Panama, and Venezuela. Group headquarters are in Mexico City, Mexico.
Container - A uniform, sealed, reusable metal "box" in which merchandise is shipped by vessel, truck, or rail. Standard lengths include 10, 20, 30, and 40 feet (40 foot lengths are generally able to hold about 40,000 pounds). Containers of 45 and 48 feet are also used, as well as containers for shipment by air.
container - Box, in several standard sizes, designed to enable goods to be sent several places without the contents being touched.
Contracting Parties - Contracting parties are the signatory countries to the GATT. These countries have accepted the specified obligations and privileges of the GATT agreement.
Conv. - Conveyance
Convention - See: International Agreements.
Convention on Contracts for the International Sale of Goods - The UN Convention on Contracts for the International Sale of Goods, CISG, became the law of the United States in January 1988. CISG establishes uniform legal rules governing formation of international sales contracts and the rights and obligations of the buyer and seller. The CISG applies automatically to all contracts for the sale of goods between traders from two different countries that have both ratified the CISG, unless the parties to the contract expressly exclude all or part of the CISG or expressly stipulate a law other than the CISG.
Conventional Arms Transfer - The transfer of non-nuclear weapons, aircraft, equipment, and military services from supplier states to recipient states. U.S. arms are transferred by grants as in the Military Assistance Program (MAP); by private commercial sales; and by government-to-government sales under Foreign Military Sales (FMS). MAP provides defense articles and defense services to eligible foreign governments on a grant basis. FMS provides credits and loan repayment guarantees to enable eligible foreign governments to purchase defense articles and defense services.
Cooperator Program - See: Foreign Market Development Program.
Coordinating Committee on Multilateral Export Controls - CoCom is an informal organization that cooperatively restricts strategic exports to controlled countries. CoCom controls three lists: (a) the international industrial list (synonymous with the "dual-use" or "core" list), (b) the international munitions list, and (c) the atomic energy list. The 17 CoCom members are: Australia, Belgium, Canada, Denmark, France, the Federal Republic of Germany, Greece, Italy, Japan, Luxembourg, the Netherlands, Norway, Portugal, Spain, Turkey, the United Kingdom, and the United States. Other countries, including: Austria, Finland, Hong Kong, Ireland, New Zealand, Sweden, and Switzerland have been designated as "cooperating countries." These countries receive many of the benefits ascribed to CoCom member countries. CoCom controls exports at three levels, depending on the item and the proposed destination. At the highest or "general exception" level, unanimous approval by CoCom members is necessary. At the next level, "favorable consideration," there is a presumption of approval; the export may be made if no CoCom members objects within 30 days of submission to CoCom. At the lowest level, "national discretion" (also called "administrative exception"), a member nation may approve the export on its own, but CoCom must be notified after the fact. CoCom is scheduled to terminate on March 31, 1994.
Coordination Council for North American Affairs - The CCNAA, the counterpart to the American Institute in Taiwan, unofficially represents Taiwan's interests in the United States. The Council provides information on trade, business, and investment opportunities to the American business community. Council headquarters are in Washington, D.C. See: American Institute in Taiwan.
COP - Cost of Production
COPANT - Comision Panamericana de Normas Tecnicas
Coproduction - Coproduction is a U.S. government program implemented either by a government-to-government arrangement or through specific licensing arrangements by designated commercial firms. These programs enable foreign entities to acquire the know-how to manufacture or assemble, repair, maintain, and operate all or part of a specific defense item or weapon, communication, or support system.
Core List - National security controls are based largely on CoCom's international industrial list (known generally as the "core list"), which replaced the old industrial list effective September 1991. The core list includes items in ten categories: (1) materials, (2) materials processing, (3) electronics, (4) computers, (5) telecommunications and cryptography, (6) sensors, (7) avionics and navigation, (8) marine technology, (9) propulsion systems and transportation equipment, and (10) miscellaneous.
CORECT - Committee on Renewable Energy, Commerce, and Trade
Corporacion Andina de Fomento - See: Andean Group.
Cost and Freight - Cost and Freight (CFR) to a named overseas port of import. Under this term, the seller quotes a price for the goods that includes the cost of transportation to the named point of debarkation. The cost of insurance is left to the buyer's account. (Typically used for ocean shipments only. CPT, or carriage paid to, is a term used for shipment by modes other than water.) Also, a method of import valuation that includes insurance and freight charges with the merchandise values.
Cost of Production - A term used to refer to the sum of the cost of materials, fabrication and/or other processing employed in producing the merchandise sold in a home market or to a third country together with appropriate allocations of general administrative and selling expenses. COP is based on the producer's actual experience and does not include any mandatory minimum general expense or profit as in "constructed value." See: Tariff Act of 1930.
Cost, Insurance and Freight - Cost, insurance, and freight (CIF) to a named overseas port of import. Under this term, the seller quotes a price for the goods (including insurance), all transportation, and miscellaneous charges to the point of debarkation for the vessel. (Typically used for ocean shipments only. CIP, or carriage and insurance paid to, is a term used for shipment by modes other than water.)
Costs of Manufacture - In the context of dumping investigations, the costs of manufacture, COM, is equal to the sum of the materials, labor and both direct and indirect factory overhead expenses required to produce the merchandise under investigation.
Cottonseed Oil Assistance Program - COAP, one of four export subsidy programs operated by the Department of Agriculture, helps U.S. exporters meet prevailing world prices for cottonseed oil in targeted markets. USDA pays cash to U.S. exporters as bonuses, making up the difference between the higher U.S. cost of acquiring cottonwseed oil and the lower world price at which it is sold.
Council for Mutual Economic Assistance - The Council for Mutual Economic Assistance, CMEA or COMECON, was established in 1949 ostensibly to create a common market. CMEA was a Soviet initiative with Bulgaria, Czechoslovakia, Hungary, Poland, and Romania as founder members. The Council was later joined by the German Democratic Republic, Mongolia, Cuba, and Vietnam; Yugoslavia held associate status. Members normally received some products, particularly oil and gas, from the former Soviet Union at below-market prices. CMEA was succeeded in 1991 by the Organization for Economic Cooperation (OIEC).
Council of American States in Europe - This Council is composed of state representatives resident in Europe supportive of official U.S. promotions.
Council of Economic Arab Unity - CEAU fosters economic integration among Arab nations. The Council's activities compiling statistics, conducting research, and promoting a customs union. The Council was established in 1964; headquarters are in Amman, Jordan. The Council oversees the Arab Common Market, which comprises Egypt, Iraq, Jordan, Libya, Mauritania, Syria, and Yemen.
Council of Europe - The COE (also: CE; French: Conseil de l'Europe)) was established in May 1949 to encourage unity and social and economic growth among members, which currently include: Austria, Belgium, Cyprus, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Malta, the Netherlands, Norway, Portugal, San Marino, Spain, Sweden, Switzerland, Turkey, and the United Kingdom. COE headquarters are in Strasbourg, France.
Council on Security and Cooperation in Europe - Members include: Albania, Armenia, Austria, Azerbaijan, Belgium, Bulgaria, Byelarus, Canada, Cyprus, Czechoslovakia, Denmark, Estonia, Finland, France, Germany, Greece, the Holy See, Hungary, Iceland, Ireland, Italy, Kazakhstan, Kyrgyzstan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Russia, San Marino, Spain, Sweden, Switzerland, Tajikistan, Turkey, Turkmenistan, Ukraine, the United Kingdom, the United States, Uzbekistan, and Yugoslavia.
Counter Trade - A general trade term whereby a seller is required to accept goods or services from the buyer as either full or partial payment. This is a well known phenomenon in East-West trade, but is increasingly being practiced worldwide.
Counterfeit Code - A draft agreement addressing commercial counterfeit (e.g. trademarks) problems in international trade. Initiated during the Tokyo Round, this code was never concluded. The issue of counterfeiting, as well as other intellectual property issues, is now under discussion in the Uruguay Round negotiating group on Intellectual Property Rights.
Counterpurchase - See: Countertrade.
Countertrade - Countertrade is an umbrella term for several sorts of trade in which the seller is required to accept goods, serivces, or other instruments or trade, in partial or whole payment for its products. Forms include barter, buy-back or compensation, offset requirements, swap, switch, or triangular trade, evidence or bilateral clearing accounts. Some include offsets as a form of countertrade; others make a distinction based on the view that countertrade is a reciprocal exchange of goods and services used to alleviate foreign exchange shortages of importers and that offsets are used as a means for advancing industrial development objectives and may include equity investments. In counterpurchase (one of the most common forms of countertrade), exporters agree to purchase a quantity of goods from a country in exchange for that country's purchase of the exporter's product. The goods being sold by each party are typically unrelated but may be equivalent in value. In a compensation or buy-back deal, exporters of heavy equipment, technology, or even entire facilities agree to purchase a certain percentage of the output of the facility. Barter is a simple swap of one good for another. Switch trading is a complicated form of barter, involving a chain of buyers and sellers in different markets. See: Offsets.
Countervailing Duties (CVD) - These are duties levied on an imported good to offset subsidies to producers or exporters of that good in the exporting country. GATT Article VI permits the use of such duties if material injury to the importing country's producers occurs.
Countervailing Duty - An extra charge that a country places on imported goods to counter the subsidies or bounties granted to the exporters of the goods by their home governments. The duty is allowed by the Code on Subsidies and Countervailing Duties negotiated at the Tokyo Round, if the importing country can prove that the subsidy would cause injury to domestic industry. U.S. countervailing duties can only be imposed after the International Trade Commission has determined that the imports are causing or threatening to cause material injury to a U.S. industry.
Country Groups - For export control purposes, the Bureau of Export Administration of the U.S. Commerce Department separates countries into seven country groups designated by the symbols: Q, S, T, V, W, Y, Z. Canada and Antartica are not included in any country group. Canada is referred to by name throughout the Export Administration Regulations. Antartica is controlled according to the country that occupies the area in Antartica where the items proposed for export or reexport will be used. See: Export Control Classification Number.
Country of Export Destination - Country of destination for exports is the country where the goods are to be consumed, further processed, or manufactured, as known to the shipper at the time of exportation. If the shipper does not know the country of ultimate destination, the shipment is credited to the last country to which the shipper knows that the merchandise will be shipped in the same form as when exported.
Country of Origin - The U.S. Customs Service defines country of origin as the country where an article was wholly grown, manufactured or produced, or, if not wholly grown, cultivated or produced in one country, the last country in which the article underwent a substantial transformation. Duty rates vary according to the country of origin.
Court of International Trade - The CIT has jurisdiction over any civil action against the United States arising from Federal laws governing import transactions. The court hears antidumping, product classification, and countervailing duty matters as well as appeals of unfair trade practice cases from the International Trade Commission. The court was originally established in 1890; principal offices are located in New York City, but the court is empowered to hear and determine cases arising at any port or place within the jurisdiction of the United States. The judges are appointed for life by the President, subject to Senate confirmation.
Cpa. - Closest point of approach
CPCM - Comite Permanent Consultatif du Maghreb
CPT - Carriage Paid To
Cr. - Credit, Creditor
Crawling Peg System - The crawling peg is a procedure in which a currency exchange rate is altered frequently (multiple times a year), generally to adjust for rapid inflation. Between changes, the exchange rate for the currency remains fixed. See: Exchange Rate Classifications.
Credit Risk Insurance - A form of insurance which protects the seller against loss due to default on the part of the buyer.
Credit Risk Insurance - Insurance designed to cover risks of nonpayment for delivered goods.
Credit Tranches - The credit tranche policy is the International Monetary Fund's (IMF) basic policy on the use of its general resources. Credit is made available in four tranches, each equivalent to 25 percent of a member's quota. A first credit tranche purchase raises the IMF's holdings of the purchasing member's currency to no more than 25 percent of quota. Generally, a member may reuest use of the IMF's resources in the first credit tranche if it demonstrates that it is making reasonable efforts to overcome its balance of payments difficulties. Also, a member may request use of the first credit tranche as part of a stand-by arrangement. Subsequent purchases are made in the upper credit tranches. These resources are made available if a member adopts policies that provide appropriate grounds for expecting that the member's balance of payments difficulties will be resolved within a reasonable period. Use of these resources is almost always made under a stand-by or an extended arrangement. See: International Monetary Fund.
Critical Circumstances - A determination made by the Assistant Secretary for Import Administration (of the Commerce Department's International Trade Administration) as to whether there is a reasonable basis to believe or suspect that there is a history of dumping in the United States or elsewhere of the merchandise under consideration, or that the importer knew or should have known that the exporter was selling this merchandise at less than fair value, and there have been massive imports of this merchandise over a relatively short period. This determination is made if an allegation of critical circumstances is received from the petitioner. See: Tariff Act of 1930.
CSCE - Conference on Security and Cooperation in Europe
CSIS - Center for Strategic and International Studies
CSP - Common Standard Level of Effective Protection
CSS - Customized Sales Survey
CT - Countertrade
CTD - Committee on Trade and Development
CTF - Certified Trade Fair .. Certified Event
CTIS - Center for Trade and Investment Services
CTP - Composite Theoretical Performance
Cts. - Crates
cum. - With, Cumulative
Currency Swaps - See: Swaps.
Current Account - See: Balance of Payments.
Custom House - The government office where duties and/or tolls are placed on imports or exports and are paid on vehicles or vessels entered or cleared.
custom of the port - Established practice at a port which becomes part of a contract of carriage unless otherwise identified in the contract.
Customhouse Brokers - A person or firm, licensed by the Treasury Department, engaged in entering and clearing goods through customs. The duties of a broker include preparing the entry blank and filing it; advising the importer on duties to be paid; advancing duties and other costs; and, arranging for delivery to his client, his trucking firm, or other carrier.
Customized Sales Survey - The CSS is a fee-based International Trade Administration service that provides firms with key marketing, pricing, and foreign representation information about their specific products. Overseas staff conduct on-site interviews to provide data in nine marketing areas about the product, such as sales potential in the market, comparable products, distribution channels, going price, competitive factors, and qualified purchasers. Additional information may be provided to clients at additional charge. This product was formerly known as the Comparison Shopping Service.
Customs Cooperation Council The CCC - (French: Conseil de Cooperation Dounaiere, CCD) is an international organization consisting of representatives of about 150 countries. The Council serve as a technical body which studies and seeks to resolve the various countries' customs problems in an attempt to harmonize customs operations and promote trade. The Council was established in 1950; headquarters are in Brussels, Belgium.
Customs Cooperation Council Nomenclature - A customs tariff nomenclature formerly used by many countries, including most European nations but not the United States. It has been superseded by the Harmonized System Nomenclature to which most major trading nations, including the U.S., adhere.
Customs Electronic Bulletin Board - The CEEB provides information on rulings, quotas, currency conversion rates, customs valutation provisions, directives, and other customs news. The CEBB is available without charge, 7 days each week at 202-376-7100 (9600 baud) with PC communication switches set to no parity, 8 bit words and 1 stop bit. Voice information may be obtained by calling 202-376-7039.
Customs Free Zone - See: Free Trade Zone.
Customs Harmonization - This is an international effort to increase the uniformity of customs practices such as evaluation, nomenclature and enforcement among countries. The Customs Cooperation Council has been working on an internationally accepted harmonized commodity system since 1970.
Customs Import Value - This is the U.S. Customs Service appraisal value of merchandise. Methodologically, the Customs value is similar to f.a.s. (free alongside ship) value since it is based on the value of the product in the foreign country of origin, and excludes charges incurred in bringing the merchandise to the United States (import duties, ocean freight, insurance, and so forth); but it differs in that the U.S. Customs Service, not the importer or exporter, has the final authority to determine the value of the good.
Customs Tariff - A schedule of charges assessed by the federal government on imported and/or exported goods.
Customs Union - A group of nations which have agreed to eliminate tariffs on goods traded among members while imposing common external tariffs on goods entering from outside the union. The European Common Market is the best known example.
Customs Union - An agreement between two or more countries to remove trade barriers with each other and to establish common tariff and nontariff policies with respect to imports from countries outside of the agreement. The European Community is the most well-known example. The two primary trade effects of a customs union are: (a) trade creation -- the shift from consumption of domestic production toward consumption of member imports and (b) trade diversion -- the shift from trade with non-member countries in favor of trade with member countries.
Customs Valuation Code - Formally known as the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade,'' this MTN agreement provides detailed rules for the determination of value for customs purposes. These rules are designed to provide a fair, uniform and neutral system of valuation based on transaction value and preclude the use of arbitrary or fictitious values.
Customshouse Broker - The U.S. Customs Service defines a CHB, or Customs Broker, as any person who is licensed in accordance with Part III of Title 19 of the Code of Federal Regulations (Customs regulations) to transact Customs business on behalf of others. Customs business is limited to those activities involving transactions with Customs concerning the entry and admissibility of merchandise; its classification and valuation; the payment of duties, taxes, or other charges assessed or collected by Customs upon merchandise by reason of its importation, or the refund, rebate, or drawback thereof. (See 19 CFR 111.1(b) and (c).)
CV - Constructed Value
CVD - Countervailing Duty
CW - Cash With Order
CWC - Chemical Weapons Convention
CXT - Common External Tariff

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