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Glossary

 

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Taking in Charge

Receipt of goods by carrier from shipper.

 

Tariff

Tax imposed on a product when it is imported into a country. Some foreign countries apply tariffs to exports. 

 

TBD

To be determined

Technology Licensing

Contractual arrangement in which the licensor's patents, trademarks, service marks, copyrights, trade secrets, or other intellectual property may be sold or made available to a licensee for compensation that is negotiated in advance between the parties. U.S. companies frequently license their technology to foreign companies that then use it to manufacture and sell products in a country or group of countries defined in the licensing agreement. A technology licensing agreement usually enables a company to enter a foreign market quickly and poses fewer financial and legal risk than owning and operating a foreign manufacturing facility or participating in an overseas joint venture. 

 

Telegraphic Transfer

(1) Payment instruction sent from one bank to another by electronic means, either SWIFT or telex. (2) The method of choice for urgent or high-value payments.

 

Tenor

Time and date for payment of a draft.

 

Term Bill

Bill of exchange on which payment is due at a future date.

 

Terms of Sale

Terms that define the obligations, risks, and costs of the buyer and seller involving the delivery of goods that comprise the export transaction. These terms are commonly known as Incoterms. 

 

TFC: Trade Fair Certification Program

A U.S. Department of Commerce program that certifies the international trade events so U.S. companies can know ahead of time if an event is high quality and offers opportunities. 

 

Through Bill of Lading

A bill of lading that covers transportation by more than one carrier on more than one mode of transport from the point of issue to the final destination.

 

Time Draft

A bill of exchange payable by the drawee at some future date. Sometimes called a usance draft.

 

Time Letter of Credit

The beneficiary is paid at some future time, usually a number of days after shipment, or after presentation of documents.

 

Title Document

Transport document in which the bearer has title to the goods, and so can claim them from the carrier at their destination.

 

To Order

On a bill of exchange 'order' or 'to order' means that the drawer directs payment to be made to another party (usually a bank).

 

TOZ

Troy ounce

 

TR

Tank receipt.

 

Trade Acceptance

Time or a date draft that has been accepted by the buyer (the drawee) for payment at maturity.

Trademark 

Word, symbol, name, slogan, or combination thereof that identifies and distinguishes the source of sponsorship of goods and may serve as an index of quality of a particular product. 

 

Trade Statistics

Data that indicate total exports or imports by country and by product. They allow you to compare the size of the market for a product in various countries. By looking at statistics over several years, you can determine which markets are growing and which markets are shrinking. 

 

Trading House

Company specializing in the exporting and importing of goods produced or provided by other companies. 

 

Transaction Risk

The risk of an unfavorable change in the U.S. dollar value of foreign denominated payables or receivables. This is short term in nature.

 

Transferable Letter of Credit

Letter of credit part of whose value can be transferred to another party (second beneficiary). The Advising bank gives the second beneficiary a transferred letter of credit.

 

Translation Risk

The risk of an unfavorable change in the reported U.S. dollar value of foreign denominated net equity (assets - liabilities). This is longer term and is not always realized.

 

Transport Document

Issued by carrier. A receipt, contract for delivery, title document.

 

Transshipment

The transfer of goods from one transportation line to another or from one ship to another. Liability may pass from one carrier to the next, or it may be covered by a through bill of lading issued by the first carrier.

 

Trust Receipt

A document signed by a buyer, on the strength of which a bank releases merchandise to him for the purpose of manufacture or sale, but retains title to the goods. The buyer obligates himself to maintain the identity of the goods or the proceeds thereof distinct from the rest of his assets and to hold them subject to repossession by the bank. Trust receipts are used extensively in the Far East, where it is customary to sell on terms of 60 or 90 days, documents against payment. The collecting bank permits buyers of goods to clear the goods under a trust receipt contract, before the maturity date of the draft. In some countries, Warrants serve the same purpose.

 

TT

Telegraph Transfer.

 

TTO

Tanker Take Over

 

TTT

Tanker to Tanker

 

TTM

Table Top Meeting

 

Twenty-food Equivalent Unit (TEU)

A measurement of cargo based on a standard ocean shipment container, which is 20 feet in length.

 

 

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