Glossary of Trade & Shipping Terms

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Glossary of Trade & Shipping Terms - G

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Gambia River Basin Development Organization - The Organization (French: Organisation pour la Mise en Valeur du Fleuve Gambie, OMVG) promotes the construction of dams for hydroelectric and irrigation purposes. The organization was established in June 1978; headquarters are in Dakar, Senegal. Members include: the Gambia, Guinea, Guinea-Bissau, and Senegal.
G-10 - Group of Ten
G-24 - Group of Twenty-Four
G-5 - Group of Five
G-7 - Group of Seven
G-7 - Group of seven: the finance ministers and central bankers of seven leading industrial nations
G-77 - Group of Seventy-Seven
G-COCOM - General License - COCOM
G-DEST - General License - Destination
G-NNR - General License - Non-Naval Reserve
G-TEMP - General License - Temporary Export
G.A. - General Average
G.A.D.V. - Gross arrived damaged value
G.A.F.T.A. - Grain & Feed Trade Assoc
G.A.S.V. - Gross arrived sound value
G.A.T.T. - General Agreement on Tariffs and Trade
G.F. - Government Form (chartering)
g.f.a. - Good fair average
G.L. - Germanischer Lloyd
g.m.b. - Good merchantable brand
g.m.q. - Good merchantable quality
G.M.T. - Greenwich Mean Time
G.N.E.P.I. - Gross net earned premium income
g.o.b. - Good ordinary brand
G.O.P. - Gross original premium
g.r.t. - Gross register tons
G.S. - Good safety
g.s.m. - Good sound merchantable
G/A - General average
G/A con. - General average contribution
G/A dep. - General average deposit
GAB - General Arrangements to Borrow
Gateway - In the context of travel activities, gateway refers to a major airport or seaport. Internationally, gateway can also mean the port where customs clearance takes place.
GATT - General Agreement on Tariffs and Trade
GATT - General Agreement on Trade and Tariffs
GATT Panel - A panel of neutral representatives that may be established by the GATT Secretariat under the dispute settlement provisions of the GATT to review the facts of a dispute and render findings of GATT law and recommend action.
GCC - Gulf Cooperation Council
GDP - Gross Domestic Product
GDP - Gross domestic product
GEF - Global Environmental Facility
GEM - Global Export Manager
General Agreement on Tariffs and Trade - The GATT is a binding contract among over 100 governments. GATT was established in 1947 as an interim measure pending the establishment of the International Trade Organization, under the Havana Charter. The International Trade Organization (ITO) was never ratified by Congress. Operating in the absence of an explicit international organization, GATT has provided the legal framework for international trade with its primary mission being the reduction of trade barriers. Headquarters offices are in Geneva, Switzerland. See: Rounds Standards.
General Arrangements to Borrow - The GAB, established in 1962 and amended several times, is an agreement under which the International Monetary Fund may borrow monies from major industrial nations (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, the United States, Sweden, and Switzerland). The GAB were originally designed to enable the participants to strengthen the Fund by lending to it specified amounts of their currencies. These loans would be made when supplementary resources were needed to help finance purchases by GAB participants in circumstances where such financing would forestall or cope with an impairment of the international monetary system. The GAB were amended to include an associated agreement with Saudi Arabia and to permit the Fund to use the arrangements to finance transactions with nonparticipants under certain conditions on purchases involving upper credit tranche conditionality
General Exception - 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.
General Imports - "General Imports" measure the total physical arrivals of merchandise from foreign countries, whether such merchandise enters consumption channels immediately or is entered into bonded warehouses or Foreign Trade Zones under Customs custody.
General License - These are licenses, authorized by the Bureau of Export Administration, that permit the export of goods and technology to specified countries without the need for a validated license. No prior written authorization is required and no individual validated license is issued. There are over twenty different types of general licenses, each represented by a symbol. The reason so many general licenses exist is to accommodate the various exporting situations that the Bureau of Export Administration has determined should not require an Individual Validated License. These licenses include:- General License BAGGAGE; - General License CREW - General License GATS; - General License GCG; - General License GCT; - General License G-DEST; - General License GFW; - General License GIFT; - General License GIT; - General License GLOG; - General License GLR; - General License GLV; - General License G-NGO; - General License G-NNR - General License GTDA; - General License GTDR; - General License G-TEMP; - General License GTF-U.S.; - General License GUS; - General License GVN; - General License PLANE STORES; - General License RCS; - General License SAFEGUARDS; and - General License SHIP STORES.
General License CREW - With limitations, General License CREW authorizes a member of the crew on an exporting carrier to export personal and household items among his/her effects.
General License-BAGGAGE - With limitations, General License BAGGAGE authorizes individuals leaving the United States for any destination to take with them as personal baggage the following items: personal effects, household effects (including personal computers), vehicles, and tools of the trade (including highly technical ones), provided that certain conditions concerning these items are complied with by the exporter.
General License-G-DEST - With limitations, General License shipments of commodities to destinations not requiring a validated license. The majority of all items exported fall under the provisions of General License G-DEST.
General License-G-NGO - With limitations, General License G-NGO authorizes non-governmental, non-profit organizations to export donated items necessary to carry out small-scale humanitarian projects in Vietnam.
General License-G-TEMP - Subject to conditions and exceptions, General License G-TEMP authorizes the temporary export of commodities and software for temporary use abroad for a period generally not to exceed 12 months.
General License-GATS - With limitations, General License GATS (Aircraft on Temporary Sojourn) authorizes the departure from the United States of foreign registry civil aircraft on temporary sojourn in the United States and of U.S. civil aircraft for temporary sojourn abroad.
General License-GCG - With limitations, General License GCG (Shipments to Agencies of Cooperating Governments) authorizes the export of commodities for official use of any agency of a cooperating government within the territory of the cooperating government.
General License-GCT - With limitations, General License GCT authorizes exports to eligible countries of all "A" level commodities, except those specifically excluded in certain Export Control Commodity Numbers (ECCNs) on the Commodity Control List, to CoCom and CoCom participating countries. Exports may be made under GCT only when intended for use or consumption within the importing country, reexport among and consumption within eligible countries, or reexport in accordance with other provisions of the Export Administration Regulations.
General License-GFW - With limitations, General License GFW authorizes exports to most free-world destinations of certain commodities subject to national security controls. In most cases, these commodities have performance characteristics that permit the United States to approve exports to controlled countries with only notification to other CoCom governments.
General License-GIFT - Subject to various provisions and limitations, General License GIFT authorizes the export of gift parcels by an individual in the United States.
General License-GIT - With limitations, General License GIT (intransit shipments) authorizes the export from the United States of commodities that originate in one foreign country and are destined to another foreign country.
General License-GLOG - With limitations, General License GLOG authorizes the export of unprocessed western red cedar timber harvested from Federal, State and other public lands in Alaska, all private lands, and land held in trust for recognized Indian tribes by Federal or State agencies.
General License-GLR - Subject to various provisions, General License GLR authorizes the return or repair of commodities and the replacement of parts.
General License-GLV - With limitations, General License GLV authorizes a "single shipment" of a commodity when the shipment does not exceed the value limit specified in the GLV paragraph of the ECCN.
General License-GTDA - General License GTDA authorizes exports to all destinations of technical data that are in the public domain and generally available.
General License-GTDR - When exporting technical data to free world destinations and the information does not qualify under GTDA and an IVL is not required, an exporter may use GTDR. Certain GTDR shipments must be accompanied by a written assurance from the foreign consignee stating that neither the technical data nor the direct product thereof will be shipped to Country Groups Q, S, W, Y, Z, or the People's Republic of China. Lower level technology may be shipped without written assurance; this is generally referred to as "GTDU".
General License-GTF-U.S. - With limitations, General License GTF-U.S. authorizes the export of commodities that were: (1) imported into the United States for display at an exhibition or trade fair; and (2) either entered under bond or permitted temporary free importation under bond providing for their export and are being exported in accordance with the terms of such bond.
General License-GUS - With limitations, General License GUS authorizes the export to any destination of commodities and software for personal or official use of personnel and agencies of the U.S. Government.
General License-GVN - General License GVN allows exports to Vietnam of low-level items to be used by the exporter to open offices or do feasibility studies in connection with contracts to be executed after lifting of the embargo. The exporter must have obtained a license form the Treasury Department for the activities.
General License-Plane Stores - With limitations, General License-Plane Stores authorizes the export on aircraft of U.S. or foreign registry departing from the United States of usual and reasonable kinds and quantities of commodities necessary to support the operation of an aircraft, provided the commodities are not intended for unlading in a foreign country and are not exported under a bill of lading as cargo.
General License-Safeguards - With limitations, General License-Safeguards authorizes exports to the International Atomic Energy Agency (IAEA) and the European Atomic Energy Community (EURATOM).
General License-Ship Stores - With limitations, General License-Ship Stores authorizes the export of usual and reasonable kinds and quantities of the commodities to support the operations of a vessel, provided the commodities are not intended for unlading in a foreign country and are not exported under a bill of lading as cargo.
General Sales Manager - Under two programs -- GSM-102 and GSM-103 -- the Agriculture Department's Commodity Credit Corporation provides guarantees for the repayment of commercial credit extended to finance U.S. agricultural export sales. The programs differ principally in the length of their terms of coverage. The GSM-102 program (for General Sales Manager) provides coverage for terms extending from six months to three years. Guarantees are extended to U.S. banks confirming foreign letters of credit issued to assist foreign importers who wish to buy U.S. exports and to help primarily developing countries which may face difficulties in obtaining a loan. The GSM-103 program provides coverage for terms extending from 48 months to ten years. Guarantees are extended foreign importers who wish to buy U.S. exports and to help primarily developing countries which may face difficulties in obtaining a loan.
General Tariff - A tariff that applies to countries that do not enjoy either preferential or most-favored-nation tariff treatment. Where the general tariff rate differs from the most-favored-nation rate, the general tariff rate is usually the higher rate.
Generalized System of Preferences - The Generalized System of Preferences, GSP, is a framework under which developed countries give preferential tariff treatment to manufactured goods imported from certain developing countries. GSP is one element of a coordinated effort by the industrial trading nations to bring developing countries more fully into the international trading system. The U.S. GSP scheme is a system of nonreciprocal tariff preferences for the benefit of these countries. The U.S. conducts annual GSP reviews to consider petitions requesting modification of product coverage and/or country eligibility. United States GSP law requires that a beneficiary country's laws and practices relating to market access, intellectual property rights protection, investment, export practices, and workers rights be considered in all GSP decisions.
Gesellschaft mit beschrunker Haftung - The GmbH (German, meaning: "limited liability company") is a corporation with separate legal personality. Its shareholders participate in the original share capital with their initial contributions but are not liable to the company's creditors. One person alone can form a limited liability company but legal entities may also be shareholders. The firm name of a limited liability company must either be derived from the purpose of its business or -- as in the case of limited partnerships -- from the name of the shareholder or a combination of both. It must always state "with limited liability" (mbH).
GFW - General License - Free World
GIE - Groupement d'Intert Economique
GL - General License
Global Environmental Facility - The GEF is aimed at four global problems: climate change, pollution of international waters, destruction of biodiversity, and depletion of stratospheric ozone. The Facility was started in 1990 as a pilot project to help developing countries protect the environment and to transfer environmentally benign technology to these nations. The program is jointly administered by the World Bank, the U.N. Environment Program, and the U.N. Development Program.
Global Export Manager - The Global Export Manager, GEM, is an electronic system for collecting and disseminating trade leads and business opportunities. GEM is maintained by the National Association of State Development Agencies (NASDA).
Global Quota - A global quota is a quota on the total imports of a product from all countries.
GLR - General License - Return (Replacement)
GLV - General License - Shipments of Limited Value
GmbH - Gesellschaft mit beschrnker Haftung
GNP - Gross National Product
GNP - gross national product
Gold Key Service - The Gold Key Service is an International Trade Administration service that provides customized information for U.S. firms visiting a country -- market orientation briefings, market research, introductions to potential business partners, an interpreter for meetings, assistance in developing a market strategy, and help in putting together a follow-up plan. Trade Specialists design an agenda of meetings, screen and select the right companies, arrange meetings with key people, and go with U.S. representatives to ensure that no unforeseen difficulties occur.
Government Procurement Policies and Practices - The term refers to a nontariff barrier to trade involving the discriminatory purchase by official government agencies of goods and services from domestic suppliers, despite their higher prices or inferior quality as compared with competitive goods that could be imported.
gr. - Grain, Gross
Gr.t. - Gross ton
Grandfather Clause - The General Agreement on Tariffs and Trade (GATT) provision that allows the original contracting parties to exempt from general GATT obligations mandatory domestic legislation which is inconsistent with GATT provisions, but which existed before the GATT was signed. Newer members may also "grandfather" domestic legislation if that is agreed to in negotiating the terms of accession. (U.S. legislation also provides for "grandfather clauses.")
Gray Market Imports - This term refers to imports bearing a genuine trademark but imported by a party other than the trademark holder or authorized importer.
Gross Domestic Product - A measure of the market value of all goods and services produced within the boundaries of a nation, regardless of asset ownership. Unlike gross national product, GDP excludes receipts from that nation's business operations in foreign countries, as well as the share of reinvested earnings in foreign affiliates of domestic corporations.
Gross National Product - A measure of the market value of goods and services produced by the labor and property of a nation. Includes receipts from that nation's business operation in foreign countries, as well as the share of reinvested earnings in foreign affiliates of domestic corporations.
Gross Weight - The full weight of a shipment, including goods and packaging. Compare Tare Weight.
Group of Eleven - The G-11 (also known as the Cartagena Group) was established in 1984 and comprises the largest debtor nations in Latin America: Argentina, Bolivia, Brazil, Chile, Colombia, Dominican Republic, Ecuador, Mexico, Peru, Uruguay, and Venezuela.
Group of Fifteen - The G-15, established in 1990, consists of relatively prosperous or large developing countries. The G-15 discusses the benefits of mutual cooperation in improving their international economic positions. Members include: Algeria, Argentina, Brazil, Egypt, India, Indonesia, Jamaica, Malaysia (a very active member), Mexico, Nigeria, Peru, Senegal, Venezuela, Yugoslavia, and Zimbabwe.
Group of Five - Similar to the Group of Seven (G-7), with the exception of Canada and Italy.
Group of Seven - This term refers to seven major economic powers (Canada. France, Germany, Great Britain, Italy, Japan, and the United States) whose finance ministers seek to promote balanced economic growth and stability among exchange rates.
Group of Seventy-Seven - A grouping of developing countries which received its name in connection with 77 countries issuing a joint statement in Geneva, Switzerland in 1964. The G-77's primary focus is serving as a caucus for articulating members' collective interests primarily in areas of promoting economic cooperation among developing countries and in negotiations on economic matters with developing countries. G-77 membership has increased since 1964 to over 125 countries.
Group of Ten - Under the International Monetary Fund's General Agreements to Borrow (GAB), established in 1962, 10 of the wealthiest industrial members of the IMF "stand ready to lend their currencies to the IMF up to specified amounts when supplementary resources are needed." The finance ministers of these countries comprise the Group of 10 (also called the Paris Club). Members include: Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, the United Kingdom, and the United States. Though numbering 11 with the addition of Switzerland in 1984, the numerical name persists.
Group of Twenty-four - A grouping of finance ministers from 24 developing country members of the International Monetary Fund. The Group, representing eight countries from each of the African, Asian, and Latin American country groupings in the Group of 77, was formed in January 1972 to counterbalance the influence of the Group of 10.
Groupement d'Intrat Economique - Groupement d'interat economique (French: "economic interest grouping") is a joint venture which has features of both a partnership and a corporation. The GIE is used by enterprises that wish to set up a joint activity on a trial basis or to cooperate, but not to merge. The GIE must be an extension of some activity of its members, frequently marketing, research, and management. Airbus Industrie is an example of a GIE.
grt - Gross registered tons
GSM - General Sales Manager
GSP - Generalized System of Preferences
GSP - generalized system of preferences
GTDA - General License - Technical Data Publicly Available
GTDR - General License - Technical Data Restricted by Written, Assurance
GTDU - General License - Technical Data Restricted without, Written Assurance
GTZ - Deutsche Gesellschaft fur Technische Zusammenarbeit
guar. - Guaranteed
Gulf Cooperation Council - The GCC, established in May 1981, seeks to strengthen cooperation (in areas such as agriculture, industry, investment, security, and trade) among its six members: Bahrain, Kuwait, Quatar, Oman, Saudi Arabia, and the United Arab Emirates. The GCC, created in response to the outbreach of the Iran-Iraq war, established the Gulf Standards Organization in November 1982 and the Gulf Investment Corporation in 1984. The presidency of the GCC rotates yearly among members. Council headquarters are in Riyadh, Saudi Arabia.
Gy.C. - Gyro Compass