Tuesday, August 18, 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 Q’s. We have to admit, trying to find terms that start with “Q” was a little bit of a challenge! We would especially like to hear your suggestions for some export terms starting with “Q.”

A quay is the part of the wharf that is used for loading and unloading ships.

A quota is the limitation of the quantity of goods that may be imported into the U.S. during a set period under an absolute or tariff-rate quota system. (19 CFR 132.1) Quotas are established by Presidential Proclamations, Executive Orders or other legislation. Absolute quotas permit a limited number of units of specified merchandise to be entered or withdrawn for consumption during specified periods. Tariff-rate quotas permit a specified quantity of merchandise to be entered or withdrawn at a reduced rate during a specified period.

Qualified, Space (Space Qualified)
According to 15 CFR 772 of the Export Administration Regulations, the term "space qualified" refers to products designed, manufactured and tested to meet the special electrical, mechanical or environmental requirements for use in the launch and deployment of satellites or high-altitude flight systems operating at altitudes of 100 km or higher. Unless specifically provided for in the EAR, most space qualified goods are subject to jurisdiction and licensing by the DDTC.

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