View Cart  Checkout

  • Sign Contracts Online

    Create and sign documents online

  • ITAR Compliance

    Compliance resources for DDTC controlled exports.

  • Free Link Tracking

    Charts. Graphs. Tracking. Free.
    No sign-up, no fees. Try it now!

Miscellaneous

Import Export Definitions


United States Trade Representative

The USTR is a cabinet-level official with the rank of Ambassador who advises the President on trade policy. The USTR coordinates the development of U.S. trade policy initiatives; leads U.S. international trade negotiations; and seeks to expand U.S. exports by promoting removal or reduction of foreign trade barriers.

U.S. Munitions List

The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control. The USML, is similar in coverage to the International Munitions List (IML), but is more restrictive in two ways. First, the USML, currently contains some dual-use items that are controlled for national security and foreign policy reasons (such as space-related or encryption-related equipment). Second, the USML contains some nuclear- related items. Under Presidential directive, most dual-use items are to be transferred from the USML, to the Commerce Department’s dual-use list. State, with the concurrence of Defense, designates which articles will be controlled under the USML. Items on the Munitions List face a stricter control regime and lack the safeguards to protect commercial competitivei~ess that apply to dual-use items.

Validated Export License

A document issued by the U.S. Government authorizing the export of commodities for which written export authorization is required by law. Compare: General Export License.

Value

Value is the selling price or cost if not sold, including freight, insurance, and other charges to U.S. port of export, but excluding unconditional discounts and commissions. On the SED, value should be reported to the nearest whole dollar, omit cents. Report one value for each Schedule B number.

Value-Added Tax

A European Community (EC) tax assessed on the increased value of goods as they pass from the raw material stage through the production process to final consumption. The tax on processors or merchants is levied on the amount by which they increase the value of items they purchase. The EC charges a tax equivalent to the value added to imports and rebates value-added taxes on exports.

Visa

Visas are required by many countries for entry of a foreigner. A visa is a stamp in a foreign national’s passport issued by a U.S. consular officer which creates a legal presumption that there are no apparent reasons to deny entry into the U.S. Regardless of the stamp, the final decision to grant admission is made by an officer of the U.S. Immigration Service at the port of entry.

Visa Waiver

A program of selected countries to eliminate the visa requirement on a test basis.

Voluntary Export Restriction

An understanding between trading partners in which the exporting nation, in order to reduce trade friction, agrees to limit its exports of a particular good. Also called Voluntary restraint agreement.

Voluntary Restraint Agreement

Informal bilateral or multilateral understandings in which exporters voluntarily limit exports of certain products to a particular country destination in order to avoid economic dislocation in the importing country and the imposition of mandatory import restrictions. These arrangements do not involve an obligation on the part of the importing country to provide “compensation” to the exporting country, as would be the case if the importing country unilaterally imposed equivalent restraints on imports. See: Voluntary Export Restriction.

Warehouse Receipt

A receipt issued by a warehouse listing goods received for storage.

Webb-Pomerene Association

Associations engaged in exporting that combine the products of similar producers for overseas sales. These associations have partial exemption from U.S. anti-trust laws but may not engage in import, domestic or third country trade or combine to export services.

Wharfage

A charge assessed by a pier or dock owner for handling incoming or outgoing cargo.

With Average (W.A.)

A marine insurance term meaning that a shipment is protected from partial damage whenever the damage exceeds 3 percent (or some other percentage).

Without Reserve

A term indicating that a shipper’s agent or representative is empowered to make definitive decisions and adjustments abroad without approval of the group or individual represented. Compare: Advisory Capacity.

World Bank Group

An integrated group of international institutions that provides financial and technical assistance to developing countries. The group includes the International Bank for Reconstruction and Development, the International Development Association, and the International Finance Corporation.

World Intellectual Property Organization

WIPO, a specialized agency, is a part of the United Nations system or organizations. Located in Geneva, WIPO promotes protection of intellectual property around the world through cooperation among states, and administers various “Unions,” each founded on a multilateral treaty and dealing with the legal and administrative aspects of intellectual property.

World Trade Organization (WTO)

The WTO is the only global international organization dealing with the rules of trade between nations. At its heart are the WTP agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments.

World Traders Data Reports

WTDRs is an International Trade Administration fee-based service which provides a background report on a specific foreign firm, prepared by commercial officers overseas. WTDRs provide information about the type of organization, year established, relative size, number of employees, general reputation, territory covered, language preferred, product lines handled, principal owners, financial references, and trade references. WTDRs include narrative information about the reliability of the foreign firm.

Zangger Committee

The Zangger Committee of the Nonproliferation Treaty Exporters examines controls enacted pursuant to the Nuclear Nonproliferation Treaty by refining the list of items requiring nuclear safeguards. The Zangger Committee consists of 23 Nuclear Non-Proliferation Treaty (NPT) nuclear supplier nations which includes all nuclear weapons states except France and China. Through a series of consultations in the early 1 970s, the countries of the Zangger Committee compiled a “trigger list” of nuclear materials and equipment. The shipment of any item on the list to a non-nuclear weapons state “triggers” the requirement of International Atomic Energy Agency (IAEA) safeguards. Since the Zangger Committee is associated with the NPT, its members are obligated to treat all non-nuclear weapons parties to the treaty alike. For fear of discrediting the NPT, the Zangger countries cannot target strict nuclear controls toward certain nations with questionable proliferation credentials; the NPT binds them to assist non-nuclear weapons states with peaceful atomic energy projects.

Comments are closed.