Tuesday, November 3, 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 C’s.

Container Freight Station “CFS”
A CFS is a bonded warehouse facility used by carriers to load LCL cargo into containers or unload imported LCL cargo from containers. This is normally done when the container has more than one delivery location. The cargo is unloaded from the containers and delivered to the final destination.

Court of International Trade “CIT”
The CIT is a Federal court with jurisdiction to hear cases against the United States arising from Federal laws governing import transactions. The court hears antidumping, classification, and countervailing duty matters as well as appeals of unfair trade practice cases from the International Trade Commission. Established in 1890 the court has principal offices located in New York City. The judges are appointed for life by the President, subject to Senate confirmation.

Country Chart

Located in Supplement 1 to Part 738 for the EAR, the country chart contains licensing requirements based on destination and “reason for control. Maintained by BIS, the Commerce Country Chart allows users to determine whether a license is required for items on the CCL.

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