Welcome to Trade Terms Tuesday! Each Tuesday we will share three trade-related terms. In order to reach out to our diverse readership, we will try to provide one for exports, one for imports and one for logistics/transportation. This week, we continue with the B’s.
Bureau of Industry & Security (BIS)
As part of the Department of Commerce, the Bureau of Industry & Security (BIS) has oversight for regulation of exports and issues of national security and technology. In addition to evaluating and issuing licenses for export and re-exports of goods and technology, the agency strives to protect the national security and stop proliferation of weapons of mass destruction. Activities include enforcing export regulations (EAR), anti-boycott and public safety laws, providing ECCN assistance, determining commodity jurisdiction and issuing licenses for certain goods.
Buying Commission
A buying commission is a component of valuation and consists of any monies paid to the buyer’s agent, who is controlled by, or works on behalf of the buyer. The most important distinction between buying and selling commissions is the amount of control exercised by the importer over the agent. The more control a buyer has over a "buying agent," the more likely it is CBP will find that a bona fide buying agency relationship exists.
Backhaul
Bureau of Industry & Security (BIS)
As part of the Department of Commerce, the Bureau of Industry & Security (BIS) has oversight for regulation of exports and issues of national security and technology. In addition to evaluating and issuing licenses for export and re-exports of goods and technology, the agency strives to protect the national security and stop proliferation of weapons of mass destruction. Activities include enforcing export regulations (EAR), anti-boycott and public safety laws, providing ECCN assistance, determining commodity jurisdiction and issuing licenses for certain goods.
Buying Commission
A buying commission is a component of valuation and consists of any monies paid to the buyer’s agent, who is controlled by, or works on behalf of the buyer. The most important distinction between buying and selling commissions is the amount of control exercised by the importer over the agent. The more control a buyer has over a "buying agent," the more likely it is CBP will find that a bona fide buying agency relationship exists.
Backhaul
The backhaul is the portion of a transportation trip that returns the carrier’s equipment to the origin point. The backhaul can contain a full, partial, or empty load. An empty backhaul is called deadheading.
No comments:
Post a Comment