Glossary of trade terms education level bachelor

The clearance of an entry is the point at which revenue associated with the declaration has been paid or secured and the entry can no longer be queried or amended on CHIEF. The goods can now be released into the declared Customs procedure or can be removed under a transit arrangement (subject to any commercial considerations)

Direct Representation – the declarant (forwarder) acts as an agent on behalf of the importer/ exporter and therefore does not have any legal responsibility if errors are made. teacher role at higher education level is to Unless an agent has written proof they are contracted as "DR" they will assumed to be acting under Indirect Representation (IR) by HMRC

Financial Action Task Force – an inter-governmental body, has recentlyreiterated its calls for countries to apply effective counter-measures to protect their financial sectors from money laundering and financing of terrorism risks emanating from Iran

The International Non-proprietary Names (INN) Table is a reference document published by the WCO Secretariat to facilitate the identification of pharmaceutical substances or active pharmaceutical ingredients against the corresponding Harmonised System (HS) Code.

b) Export Invoice – an invoice used to ship goods, sometimes called "for customs purposes only" must cross reference to a commercial invoice and have all the same information as the commercial invoice but may have additional details required for overseas customs or export control purposes

Inward Processing Relief – also abbreviated as IP. A customs regime procedure which permits the suspension of customs duty and VAT if goods temporarily imported into the EU for a process, eg repair, manufacturing. Goods must be correctly imported and exported into this regime.

Indirect Representation – this is when the declarant (eg forwarder) shares liability for all information submitted to customs ("jointly and severely responsible"). certification education level Unless an agent has written authorisation to the contrary HMRC will assume they are acting as IR. See also DR

EU Customs Procedure allowing goods to be exported outside the EU on a temporary basis for a process, eg repair, further manufacture, and then be returned to the EU without the requirement to pay customs duties on the value of the original export product

A “waiver” and pending amendment allowing generic medicines to be made under “compulsory licences” exclusively for export to countries that cannot produce the medicines themselves. The system deals with a problem identified in Paragraph 6 of the 2001 Doha Declaration on the TRIPS (intellectual property) Agreement and Public Health by removing a limit in the TRIPS Agreement’s Article 31(f) on the amount nations can export under a compulsory licence to countries needing the medicines.

Real Good Friends – 16 countries, the United States, countries from the European Union, Japan, Canada, Norway, Switzerland, Australia, New Zealand, Singapore, South Korea, Taipei, Pakistan, Mexico, Colombia, and Chile, call themselves the real good friends (RGF) of liberalisation of trade in services.

Security and Accountability for Every (SAFE) Port. USA introduced this Act in 2006 as part of their security initiative, it includes the requirement that every container is scanned before it leaves the export country if destined for the USA.

EU Customs status of goods which is used to decide if they have to be presented to customs authorities when moving to another member state. what is highest education level Transit Status 1 indicates that the goods are not in free circulation (non-Union Goods – nUG) and therefore do have to be moved with customs forms. (see NCTS/ETS and "free circulation goods")

EU Customs status of goods which is used to decide if they have to be presented to customs authorities when moving to another member state. Transit Status 2 indicates that the goods ARE in free circulation (Union Goods – UG) and can be shipped around the EU without customs forms. (see Intrastat and "free circulation goods")