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 C’s.
Commerce Control List (CCL)
Included in the Export Administration Regulations, the Commerce Control List identifies all dual-use commodities, software, and technologies subject to the export licensing process as well as the conditions under which those commodities, technologies, and software may be exported.
Carnet
A carnet is a customs document that allows the holder to carry or send goods into certain foreign countries temporarily without paying duties or posting bonds. A carnet serves as both the entry document and a CBP bond.
Currency Adjustment Factor (CAF)
The CAF is an ancillary freight surcharge or adjustment imposed by a carrier to offset foreign currency fluctuations. The CAF is usually a percentage of a published rate. While freight rates are normally fixed for a specified period, the CAF is subject to daily revisions based on the fluctuation of currency.
Commerce Control List (CCL)
Included in the Export Administration Regulations, the Commerce Control List identifies all dual-use commodities, software, and technologies subject to the export licensing process as well as the conditions under which those commodities, technologies, and software may be exported.
Carnet
A carnet is a customs document that allows the holder to carry or send goods into certain foreign countries temporarily without paying duties or posting bonds. A carnet serves as both the entry document and a CBP bond.
Currency Adjustment Factor (CAF)
The CAF is an ancillary freight surcharge or adjustment imposed by a carrier to offset foreign currency fluctuations. The CAF is usually a percentage of a published rate. While freight rates are normally fixed for a specified period, the CAF is subject to daily revisions based on the fluctuation of currency.
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