Export glossary – U

UNCTAD The United Nations Conference on Trade and Development is a structure established in 1964 to promote world wide development through various trade proposals. It is a source for technical assistance for developing countries around the issues of trade and development.
Uniform Customs And Practice Standardized code of practice issued by the International Chamber of Commerce in Paris covering Documentary Credits. (See International Chamber of Commerce)
Uniform Rules Standardized rules issued by the International Chamber of Commerce in Paris covering collections, Combined Transport Documents, and Contract Guarantees.
Unit Cost The cost associated with a single unit of product; it is calculated as the total cost of producing a product or service divided by the number of units in the run or lot.
Uruguay Round The most recent (1989-1994) round of trade talks of the member countries of the General Agreement on Tariffs and Trade (see GATT).
Unique Identifier Number (UIN) This inventory method controls merchandise in a zone by unique numbers and/or letters that identify merchandise admitted to a zone.
Unitisation The general approach for trying to transport goods in larger units. Pallets and containers are two means to this end.
Usance Bill A Bill of Exchange which allows the drawee a term or period of credit (this period is also called usance). The term is usually stated in days (e.g. 30 days) or months and starts either from the date of the bill (e.g. 30 days date) or from the date of bill of lading, or from sight by the drawee (e.g. 30 days sight) which in practice means from the date of acceptance. An essential feature of acceptance credits and D/A collections. Used to describe a bill of lading without clauses that expressly declare a defective condition of the goods or the packing.
User A person or firm using a zone for storage, handling or processing of merchandise.
US-SACU FTA The United States-South Africa Customs Union free trade area negotiations began in June 2003 to create the first US free trade area in Africa. The South African Customs Union is one of the oldest trading blocks that originated in 1889 and includes Botswana, Lesotho, Namibia, South Africa, and Swaziland.
USTR The United States Trade Representative is a cabinet-level official of the US government responsible for developing and coordinating US international trade, commodity, and direct investment policy, and leading or directing negotiations with other countries on such matters.