Tuesday, May 19, 2009

Trade Terms Tuesday

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 D’s.

Denied Persons List (DPL)
The Bureau of Industry & Security maintains the DPL, a
list of persons and business entities to which U.S. Exporters may not ship goods. Exporters are responsible for checking this list to ensure that all export transactions are properly authorized.

Duty Drawback
Duty Drawback is a process that allows a refund of all or part of customs duties paid on imported merchandise, which is subsequently exported. Exporters of rejected or unused imported goods, or goods manufactured with imported components may receive a refund of 99% of duties paid against those components upon exportation of the goods. The purpose of drawback is to encourage American exports and manufacturing. The drawback regulations are found in 19 CFR 191.

Dead Heading
Operation of a vehicle without a load of cargo is called dead heading. The term is used most frequently in the trucking industry to refer to the return trip from delivery of cargo or driving an empty to a location to pick up cargo. Deadheading is avoided when possible for cost efficiency and maximization of resources.

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