Tuesday, September 1, 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 S’s.

Stuffing is the process of loading cargo into a shipping container. Proper container stuffing allows for the use of as much as possible of the container’s cube capacity and protects the cargo from loss or damage during transit.

Substantial Transformation
When a production or manufacturing process which results in an article having a new and different name, character and use from the imported article, it is considered to have undergone substantial transformation.

Simplified Network Application Process (SNAP)
SNAP is a secure electronic portal for submission of export and reexport applications, and commodity classification requests via the Internet to the Bureau of Industry and Security (BIS). SNAP also allows the user to attach supporting documentation electronically, which can expedite processing.

No comments: