Standardized international customs document known as an ATA (admission temporaire or temporary admission) carnet that is used to obtain duty-free temporary admission of certain goods into the countries that are signatories to the ATA Convention. Under the ATA Convention, commercial and professional travelers may take commercial samples; tools of the trade; advertising material; or cinematographic, audiovisual, medical, scientific, or other professional equipment into member countries temporarily without paying customs duties and taxes or posting a bond at the border of each country to be visited.
Certificate of Origin
This is a specific document that expressly certifies that the goods to which the certificate relates originate in a specific country. This certificate may also include a declaration by the manufacturer, producer, supplier, exporter or other qualified person.
An abbreviation used in some international sales contracts, when the selling price includes all “Costs, Insurance and Freight” for the goods sold. This means that the seller arranges and pays for all relevant expenses involved in shipping goods – from their point of export to a given point of import. In trade statistics, “CIF value” means that all figures for imports or exports are calculated on this basis, regardless of the nature of individual transactions.
A commercial invoice is a bill for the goods from the seller to the buyer. These invoices are often used by governments to determine the true value of goods when assessing customs duties.
Any article exchanged in trade, but most commonly used to refer to raw materials, including minerals such as tin, copper, and manganese; and bulk-produced agricultural products such as coffee, tea, and rubber.
Goods that directly satisfy human desires (as opposed to capital goods). An automobile used for pleasure is considered a consumer good. An automobile used by a business person to deliver wares is considered a capital good.
The purchase and utilization of goods or services for the gratification of human desires or in the production of other goods or services. The consumer may be an individual, a business firm, a public body, or other entity.
Cost and Freight (CFR)
Cost and freight to a named overseas port.
Cost, Insurance, and Freight (CIF)
Cost, insurance, and freight to a named overseas post. The seller quotes a price for the goods shipped by ocean (including insurance), all transportation costs, and miscellaneous charges to the point of debarkation from the vessel.
Foreign governments subsidize industries when they provide financial assistance to benefit the production, manufacture or exportation of goods. Subsidies can take many forms, such as direct cash payments, credits against taxes, and loans at terms that do not reflect market conditions. The statute and regulations establish standards for determining when an unfair subsidy has been conferred. The amount of subsidies the foreign producer receives from the government is the basis for the subsidy rate by which the subsidy is offset, or “countervailed,” through higher import duties.
Countervailing Duties (CVD)
Specific duties imposed on imports to offset the benefits of subsidies to producers or exporters in the exporting country.
Any statement or action, in any form prescribed or accepted by Customs, giving information or particulars required by Customs.