Date Draft (D/D) A draft payable a specified number of days after the date it was issued, regardless of the date of acceptance.
Dc Bills Bills drawn under documentary credits.
Deactivization Voluntary discontinuation of the activation of an entire zone or subzone by the grantee or operator.
Declaration A formal representation by the importer or its agent to the Customs Service attesting to the correctness, description, valuation, classification, etc., of the imported merchandise.
Default An act or omission that will result in a claim for duties, taxes, charges or liquidated damages under the FTZ Operator’s Bond
Deferred Payment Credit (DPC) Type of letter of credit providing for payment some time after presentation of shipping documents by exporter.
Delivered At Frontier Term referring to the seller’s obligation to deliver the goods to the buyer at the specified time and the specified frontier at his or her own risk and expense. The buyer is responsible for complying with import formalities and payment of duties.
Delivery Duty Paid Term referring to the sellers obligation to supply goods according to the terms of the contract. At his or her own risk and expense, the seller must deliver the goods, duty paid, at the specified time and the specified frontier, after complying with all necessary formalities at that frontier.
Demand Draft See Sight draft.
Demurrage A charge paid by the charterer to a ship owner to compensate the owner for use of the ship beyond upon the loading and discharging times. Also refers to imported cargo not picked up within prescribed time.
Destination Control Statement Any of various statements that the U.S. Government requires to be displayed on export shipments and that specify the destinations for which export of the shipment has been authorized.
Devaluation The official lowering of the value of one country’s currency in terms of one or more foreign currencies. For example, if the U.S. dollar is devalued in relation to the French franc, one dollar will “buy” fewer francs than before.
Disc Domestic international sales corporation.
Discounting Act of purchasing an accepted usance bill of exchange at an amount less than the face value.
Discrepancy – Letter of credit When documents presented do not conform to the letter of credit it is referred to as a discrepancy.
Dishonour Non-payment or non-acceptance.
Dispatch An amount paid by a vessel’s operator to a charterer if loading or unloading is completed in less time than stipulated in the charter party.
Distribution License A license given to an exporter to replace numerous individual validated licenses when there is continuous shipping of authorized products.
Distributor A foreign agent who sells for a supplier directly and maintains an inventory of the supplier’s products.
District Director The district director of customs in whose district the zone is located.
District Engineer The engineer of the Department of the Army in whose district the zone is located.
Dock Receipt A receipt issued by an ocean carrier to acknowledge receipt of a shipment at the carrier’s dock or warehouse facilities.
Document Of Title Evidence of entitlement or ownership, such as a carriers negotiable bill of lading, which allows a party to claim title to the goods in question.
Documentary Credit (Dc) A conditional undertaking by a bank to make payment, often abbreviated to credit. More precisely, it is a written undertaking by a bank (issuing bank) given to the seller (beneficiary) at the request of the buyer (applicant) to pay a sum of money against presentation of documents complying with the terms of the credit within a set time limit.
Documentary Draft A draft to which documents are attached.
Documents Against Acceptance (D/A) Instructions given by a shipper to a bank indicating that documents transferring title to goods should be delivered to the buyer (or drawee) only upon the buyer’s acceptance of the attached draft.
Documents Against Payment (D/P) Payment for goods without a guaranteed form of payment in which the documents transferring title to the goods are not given to the buyer until he/she has signed a sight draft.
Documents Of Title Documents that give their owner the right to the goods, i.e. Bill of Lading.
Doha Development Round The round of World Trade Organization talks that began in 2001 at Doha, Qatar, where developing countries scored significant victories on intellectual property rights and health but still have uphill battles on market access and subsidies in areas such as agriculture.
Draft An unconditional order in writing from one person (the drawer) to another (the drawee), directing the drawee to pay a specified amount to a named drawer at a fixed or determinable future date.
Drawback Articles manufactured or produced in the United States with the use of imported components or raw materials and later exported are entitled to a refund of up to 99 percent of the duty charged on the imported components. The refund of duty is known as a drawback.
Drawee The individual or firm on whom a draft is drawn and who owes the stated amount. Compare Drawer. Also see Draft.
Drawer The individual or firm that issues or signs a draft and thus stands to receive payment of the stated amount from the drawee.
Dr-Cafta See CAFTA
Due Date Maturity date for payment
Dumping Selling merchandise in another country at a price below the price at which the same merchandise is sold in the home market or selling such merchandise below the costs incurred in production and shipment..
Duty A tax imposed on imports by the customs authority of a country. Duties are generally based on the value of the goods (ad valorem duties), some other factor such as weight or quantity (specific duties), or a combination of value and other factors (compound duties).
Duty Drawback A partial refund of duties paid on importation of goods that are further processed and then re-exported, or exported in same condition as imported.