Resources

18 terms

APEDA

Agricultural and Processed Food Products Export Development Authority, the Indian body that registers exporters of many agri products.

Bill of lading (B/L)

The shipping company's receipt for the goods and the contract of carriage. Often needed to collect the cargo.

Certificate of origin

A document that states the country where the goods were produced. Some countries need it for import duty.

CFR

Cost and Freight. The seller pays freight to the destination port, and the buyer carries the risk once the goods are loaded.

CIF

Cost, Insurance and Freight. Like CFR, with minimum insurance arranged by the seller.

Commercial invoice

The seller's bill for the goods. Customs use it to value the shipment.

ETA / ETD

Estimated time of arrival and estimated time of departure of a vessel.

FCL / LCL

Full container load, and less than container load (a shared container for smaller volumes).

FOB

Free on Board. The seller loads the goods on the vessel at the port of shipment, and the buyer arranges freight and insurance.

FSSAI

Food Safety and Standards Authority of India. It licenses food businesses in India.

HS code

A standard number that classifies a product for customs and duty in international trade.

IEC

Import Export Code. A code issued in India that lets a business import and export goods.

Letter of credit (LC)

A bank's promise to pay the seller once the agreed shipping documents are presented.

MOQ

Minimum order quantity. The smallest amount a supplier will sell in one order.

Packing list

A list of what is in each package, with weights and counts. It goes with the shipment.

Phytosanitary certificate

A certificate from the plant-protection authority that plants or plant products are free of listed pests.

RCMC

Registration-cum-Membership Certificate from an export promotion council. It is needed for some export benefits.

T/T

Telegraphic transfer, a bank-to-bank wire payment.