Glossary of Trade Terms – Cuba Export Solutions

Glossary of Trade Terms

A

AES (Automated Export System)

The electronic system used by U.S. exporters to declare their international exports (Electronic Export Information - EEI) to the Census Bureau for trade statistics and U.S. export regulations.

AGR (Agricultural Commodities)

A License Exception under the Export Administration Regulations (EAR) that authorizes the export or re-export of U.S.-origin agricultural commodities to Cuba, provided specific criteria are met.

Air Waybill (AWB)

A non-negotiable document that accompanies goods shipped by air, providing detailed information about the shipment and serving as a contract for carriage.

Alongside

Refers to goods placed on the dock or a barge within reach of a ship's rigging, ready for loading. (See Incoterms:

B

Bill of Lading (BOL/B/L)

A document issued by a carrier to acknowledge receipt of cargo for shipment. It serves as a contract for transportation, a receipt for goods, and in some cases, a document of title that can be bought, sold, or traded while goods are in transit (negotiable B/L).

BIS (Bureau of Industry and Security)

An agency within the U.S. Department of Commerce responsible for developing and enforcing the Export Administration Regulations (EAR), which control exports and re-exports of dual-use items.

C

Carnet (ATA Carnet)

An international customs document that allows for the temporary, duty-free admission of certain goods into countries that are signatories to the ATA Convention, avoiding customs duties and taxes.

Cash in Advance (Advance Payment)

A payment method where the foreign buyer pays the exporter for goods prior to shipment. This is the least risky payment method for the

D

Dangerous Goods Note (DGN)

A transport document providing details about hazardous contents of a consignment to carriers, receiving authorities, and

Dangerous Goods Regulations (DGR)

Regulations that govern the safe transport of hazardous materials.

E

EAR (Export Administration Regulations)

Regulations administered by the U.S. Department of Commerce (BIS) that control the export and re-export of most commercial and dual-use

EEI (Electronic Export Information)

The data filed through the Automated Export System (AES) for exports leaving the United

F

FAS (Free Alongside Ship)

An Incoterm where the seller delivers the goods alongside the vessel at the named port of shipment. The buyer assumes all costs and risks from that point.

Freight Forwarder

A company that specializes in arranging the movement of goods from origin to destination, including customs clearance, documentation, and coordination with carriers.

I

Incoterms® (International Commercial Terms)

A set of globally recognized rules published by the International Chamber of Commerce (ICC) that define the responsibilities of buyers and sellers for the delivery of goods under sales contracts.

ITAR (International Traffic in Arms Regulations)

Regulations that control the export and temporary import of defense articles and

L

License Exception Support for the Cuban People (SCP)

A specific License Exception under the EAR that authorizes the export and re-export of certain items to Cuba intended to improve living conditions and support civil society.

M

Manifest (Ship's Manifest)

A document prepared by the carrier that summarizes all cargo aboard a vessel, typically organized by port of loading and

O

OFAC (Office of Foreign Assets Control)

An agency of the U.S. Department of the Treasury that administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals.

P

Pro Forma Invoice

A preliminary invoice used to provide a quote for goods and services, including estimated costs, weights, and

S

Sanctions

Economic and political measures imposed by one or more countries against another country, entity, or individual, often to influence behavior or address national security concerns.

T

Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA)

U.S. legislation that allows for the export of U.S. agricultural commodities, medicines, and medical devices to Cuba under specific

U

Ultimate Consignee

The party identified as the final recipient of the goods in an export

V

Validated Export License (VEL)

An individual export license issued by BIS for specific controlled items to specific destinations or end-