Tuesday, July 7, 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 K’s.

Known Shipper
Cargo offered for transport on board a passenger airliner must come from a Known Shipper. A Known Shipper is an individual or business that has an established reputation in the shipping community and is offering their own goods for transportation. To become a Known Shipper, the party must usually complete a form provided by the carrier and agree to furnish additional documentation if requested. The rules of this program are administered by the
Transportation Security Administration (TSA), who is responsible for the oversight of all transportation security, including truck, rail and ocean, as well as air

Cloth made by looping together yarn or thread by means of special needles and fastened together closely and firmly; cloth made by looping together yarn or thread. Knitting can also be done by machines.

When referring to a participant in a transaction that is subject to the EAR, knowledge of a fact or circumstance relating to the transaction includes not only positive knowledge that the fact or circumstance exists or is substantially certain to occur, but also an awareness that the existence or future occurrence of the fact or circumstance in question is more likely than not. Such awareness is inferred from evidence of the conscious disregard of facts known to a person and is also inferred from a person’s willful avoidance of facts. Note: The term may also include “know,” “reason to know,” or “reason to believe.” (15 CFR 772.1)

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