Embargo A restriction or prohibition upon exports or imports for specific products or specific countries.
Emc See Export management company.
Entry The process for getting imported merchandise released from the Customs Service.
Entry Papers Documents that must be filed with U.S. Customs officials describing goods imported, such as the commercial invoice, Ocean Bill of Lading or Carrier Release.
Etc See Export trading company.
Eurodollars U.S. dollars placed on deposit in banks outside the United States; usually in Europe.
European Economic Community (Eec) An economic grouping of countries also known as the European Common Market, organized by the Treaty of Rome in 1957. Member countries are Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain and the United Kingdom. The EEC was the largest trading bloc in the world until the North American Free Trade Agreement created a larger market beginning in January 1994.
Ex From. When used in pricing terms such as “ex factory” or “ex dock,” it signifies that the price quoted applies only at the point of origin (in the two examples, at the seller’s factory or a dock at the import point). In practice, this kind of quotation indicates that the seller agrees to place the goods at the disposal of the buyer at the specified place within a fixed period of time.
Ex Mill (Ex Warehouse, Ex Mine, Ex Factory) A sale term used by a seller describing the net cost of goods at placement on a mill, a warehouse, a mine or a factory.
Ex Ship An international trade term meaning that the seller shall make the goods available to the buyer on board the ship at the destination named in the sales contract. The seller must bear the full cost and risk involved in bringing the goods to the buyer.
Ex Works An international trade term meaning that the seller’s sole responsibility is to make the goods available at sellers premises. The seller is not responsible for loading the goods on the vehicle provided by the buyer, unless otherwise agreed. The buyer bears the full cost and risk involved in bringing the goods from there to buyers desired destination.
Exchange Permit A government permit sometimes required by the importer’s government to enable the importer to convert his or her own country’s currency into foreign currency with which to pay a seller in another country.
Exhibition The showing of merchandise within a zone, usually to prospective buyers.
Eximbank The Export-Import Bank of the United States.
Expiry Date Latest date, usually in the country of the beneficiary, on which negotiation/payment of a DC can take place.
Export Broker An individual or firm that brings together buyers and sellers for a fee but does not take part in actual sales.
Export Commission House An organization which, for a commission, acts as a purchasing agent for a foreign buyer.
Export Declaration A formal statement made to Customs at the exit port declaring full particulars about goods being exported.
Export License A government document that permits the licensee to export designated goods to certain destinations. See General export license and Individually validated export license.
Export Management Company (EMC) A private firm that serves as the export department for several manufacturers, soliciting and transacting export business on behalf of its clients in return for a commission, salary, or retainer plus commission.
Export Quotas Restrictions or set objectives on the export of specified goods imposed by the government of the exporting country. Such restraints may be intended to protect domestic producers and consumers from temporary shortages of certain materials or as a means to moderate world prices of specified commodities. Commodity agreements sometimes contain explicit provisions to indicate when export quotas should go into effect among producers.
Export Rate A freight rate specially established for application on export traffic and generally lower than the domestic rate.
Export Trading Company A firm similar or identical to an export management company.