Trade Terms

Trade Terms Quiz

Test your knowledge on essential trade terms with our engaging quiz! Whether you're a student, teacher, or professional in the field, this quiz covers key concepts in international trade and freight.

Quiz Highlights:

Multiple choice and checkbox questions
Learn about advanced payment terms, air waybills, and more!
Perfect for sharpening your understanding of trade regulations and practices

20 Questions5 MinutesCreated by LearningBeetle234

Air Waybill

It is a non-negotiable instrument of air transport that serves as a receipt for the shipper, indicating that the carrier has accepted the goods listed therein, and obligates the carrier to carry the consignment to the airport of destination according to specified conditions.

AirPods are wireless Bluetooth earbuds designed by Apple Inc

AirDrop lets you quickly transfer files between iPhones, iPads and Macs without using wi-fi or cellular data. AirDrop uses bluetooth low energy to broadcast, discover, and negotiate connections, and point-to-point Wi-Fi to transfer information.

Anti-diversion Clause

Prohibits imported goods from being shipped to unapproved destinations

Import illegal good

To help ensure that U.S. Exports go only to legally authorized destinations, the U.S. government generally requires a Destination Control Statement (DCS) on shipping documents.

Antidumping Duty

Special duty imposed to offset the price effect of dumping that has been determined to be materially harmful to domestic producers. (See also dumping.)

Doping is the act of consuming artificial and often illegal substances to gain an advantage over others in sporting competitions

What does it mean Arbitration

Process of resolving a dispute or a grievance outside of the court system by presenting it to an impartial third party or panel for a decision that may or may not be binding.

Export process

Carnet

Standardized international customs document known as an ATA,is used to obtain duty-free temporary admission of certain goods into the countries

Signed statement from a manufacturer

Carriage and Insurance

Paid To (CIP) Carriage and insurance paid for delivery to a named destination.

Signed statement from a manufacturer attesting that a product meets certain technical

Signed statement required in certain nations attesting to the origin of the export item.

Cash in Advance (advance payment)

Signed statement required in certain nations attesting to the origin of the export item.

Signed statement from a manufacturer attesting that a product meets certain technical standards.

Delivery of merchandise to the buyer or distributor, whereby the latter agrees to sell it and only then pay

Payment from a foreign customer to a U.S. Exporter prior to actually receiving

Certificate of Conformity

Signed statement from a manufacturer attesting that a product meets certain technical standards.

Payment from a foreign customer to a U.S. Exporter prior to actually receiving

Signed statement from the producer or exporter attesting that a product has been commercially

Certificate of Free Sale

Signed statement required in certain nations attesting to the origin of the export item.

Signed statement from the producer or exporter attesting that a product has been commercially

Document prepared by the exporter or freight forwarder and required by the foreign buyer to prove

Certificate of Origin (COO)

Document prepared by the exporter or freight forwarder and required by the foreign buyer to prove

Signed statement required in certain nations attesting to the origin of the export item.

Commercial Invoice

Company based in a foreign country that acts as a foreign buyer’s agent and places confirmed orders with U.S. exporters.

Document prepared by the exporter or freight forwarder and required by the foreign buyer to prove

Confirming House

Delivery of merchandise to the buyer or distributor, whereby the latter agrees to sell it and only then pay the U.S. exporter.

Company based in a foreign country that acts as a foreign buyer’s agent and places confirmed orders with U.S. exporters.

Document required in some countries that describes the shipment of goods and shows information

Consignment

Delivery of merchandise to the buyer or distributor, whereby the latter agrees to sell it and only then pay the U.S. exporter.

Document required in some countries that describes the shipment of goods and shows information

Consular Invoice

Written or oral agreement that is legally enforceable.

Document required in some countries that describes the shipment of goods and shows information

Cost and freight to a named overseas port.

Contract

Cost and freight to a named overseas port.

Written or oral agreement that is legally enforceable.

Delivery of merchandise to the buyer or distributor, whereby the latter agrees to sell it and only then pay the U.S. exporter.

Customs-Bonded Warehouse

General expression meaning the sale or barter of goods on a reciprocal basis.

Building or other secured area in which dutiable goods may be stored, may be

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