Tare Weight The weight of an empty container and packing materials (i.e. without the weight of the goods it contains.) Note that Gross weight = net weight + tare weight.
TARIC (Integrated Tariff of the European Communities) TARIC is designed to show the various rules applying to specific products when imported into the EU. This includes the provisions of the harmonized system and the combined nomenclature but also additional provisions specified in Community legislation such as tariff suspensions, tariff quotas and tariff preferences, which exist for the majority of the Community’s trading partners. In trade with third countries, the 10-digit Taric code must be used in customs and statistical declarations.
Tariff A tax on goods which a country imports. The rate at which imported goods are taxed. A tariff schedule usually refers to a list or schedule of articles of merchandise with the rate of duty to be paid to the government of importation.
Tariff Quotas Setting a higher tariff rate on imported goods after a specified, controlled quantity of the item has entered the country at the usual tariff rate during a specified period.
Technology Transfer The movement of modern or scientific methods of production or distribution from one enterprise, institution, or country to another, as through foreign investment, international trade, licensing of patent rights, technical assistance, or training. Technology may also be transferred by giving it away (technical journals, conferences, emigration of technical experts, technical assistance programs) or by industrial espionage.
Terms of Trade The ratio of prices (unit values) of a country’s exports to the prices (unit values) of its imports. Some economists have discerned a deteriorating trend in this ratio for developing countries as a whole. Other economists maintain that whereas the terms of trade may have become less favourable for certain countries during certain periods — and even for all developing countries during some periods — the same terms of trade have improved for other developing countries in the same periods and perhaps for most developing countries during other periods.
Telegraphic Transfer Money is transferred by coded interbank telex and as long as the exporter makes it clear to the overseas buyer exactly to which bank and account the remittance should be made, the exporter should receive very speedy payment.
Tenor (Of A Draft) Designation of a payment as being due at sight, a given number of days after sight, or a given number of days after date. The exporter’s bank in DC transactions, which dispatches the documents to the issuing bank.
Terminal Receiving Charge (TRC) Charge assessed by the terminal for cargo being delivered for export.
Terminal Handling Charge (THC) The charge assessed by the terminal for the positioning of containers within the terminal/yard.
Twenty-foot Equivalent Unit (TEU) TEU is taken to mean the measure of a container capacity still used by some institutions (1 FFE = 2 TEU)
Through Bill Of Lading A single bill of lading converting both the domestic and international carriage of an export shipment. An air waybill, for instance, is essentially a through bill of lading used for air shipments. Ocean shipments, on the other hand, usually require two separate documents – an inland bill of lading for domestic carriage and an ocean bill of lading for international carriage. Through bills of lading are insufficient for ocean shipments. Compare Air waybill, Inland bill of lading, and Ocean bill of lading.
Through Rate A rate applicable from point of origin to destination. A through rate may be either a joint rate or a combination of two or more rates.
Time Draft A draft that matures either a certain number of days after acceptance or a certain number of days after the date of the draft.
TPA Trade Promotion Authority – see Fast Track
Tracer See Chaser.
Trade Agreement A bilateral or multilateral treaty or other enforceable compact committing two or more nations to specified terms of commerce, usually involving mutually beneficial concessions.
Trade And Credit Information (TCI) A bank department that prepares and distributes status reports on its own customers, and maintains records of traders and manufacturers with whom its customers deal.
Trade Deficit The value of a nation’s imports exceeds the value of its exports.
Trade Liberalisation The reduction of tariffs, quotas, and other barriers to permit more foreign trade and investment.
Tramp Steamer A ship not operating on regular routes or schedules.
Transaction Statement A document that delineates the terms and conditions agreed upon between the importer and exporter.
Transaction value The price actually paid or payable by the buyer to the seller for the merchandise when sold for exportation to the United States. Transaction value is the most common method for valuing imported merchandise.
Transfer To take merchandise with zone status from a zone for consumption, transportation, exportation, warehousing, cartage or lighterage, vessel supplies and equipment, admission to another zone, and like purposes.
Transferable Credit Permits the beneficiary to transfer all or some of the rights and obligations under the credit to a second beneficiary or beneficiaries – see Special DCs.
Transferee A party (2nd beneficiary) to whom a transferable credit is transferred in whole or in part.
Transferor A party (1st beneficiary) at whose request a transferable credit is transferred to a second beneficiary in whole or in part.
Transloading Transfer of containers from one vessel to another vessel. Synonymous with Transshipments.
Transnational Corporation Corporations that operate in multiple countries and can move their products, personnel, and even factories to the location that would be the most profitable.
Transhipment A shipment that has been moved through, imported, transferred, or unladen in one or more intermediary countries (other than their originating country) prior to importation into the final destination country.
Transparency This concept requires negotiations and agreements to be openly arrived at and openly presented so that all can know and understand the process and terms.
Transportation And Exportation Entry A form declaring goods entering the United States for the purpose of exportation through a U.S. port. Carriers and any warehouse must be bonded.
Transport Documents A transport document is given by the carrier to the shipper (seller/exporter) and serves as receipt for the goods during shipment and as evidence of a carriage contract. The transport document may in some cases also serve as a document of title.
Trips Trade-Related Intellectual Property Rights is an agreement of the World Trade Organization that covers patents and other forms of intellectual property.
Trust Receipt Release of merchandise by a bank to a buyer in which the bank retains title to the merchandise. The buyer, who obtains the goods for manufacturing or sales purposes, is obligated to maintain the goods (or the proceeds from their sale) distinct from the remainder of his or her assets and to hold them ready for repossession by the bank.