Tuesday, September 15, 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 U’s.

Unknown Shipper
An unknown shipper is a person that has not established a business relationship with an aircraft operator or carrier by furnishing items such as customer records, shipping contracts, business history and a site visit or Dun and Bradstreet vetting. Unknown shippers are not permitted to ship packages on passenger airlines.

Ultimate Consignee
The Ultimate Consignee at the time of entry or release is defined as the party in the United States to whom the overseas shipper sold the imported merchandise; the party who receives the imported goods.

U.S. Munitions List (USML)
The USML identifies those items or categories of items considered to be defense articles and defense services subject to export control under 22 CFR 121. These defense items generally consist of items specially designed or modified for military use. The U.S. Department of State is responsible for controlling the export of defense articles and services under the USML.

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