Tuesday, December 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 G’s.

Gantry Crane
A gantry crane lifts heavy objects by a hoist and is usually mounted on a frame or structure spanning an intervening space and often travels on rails or rubber tires. Gantry cranes are especially suited for lifting heavy objects such as ships' engines.

Gray Market Goods
Gray market goods are foreign-made articles bearing a genuine trademark or trade name identical with, or substantially indistinguishable from, one owned by a United States person or a corporation which are imported without the authorization of the U.S. holder. The marks are genuine and authorized by the trademark owner, but only for use for sale in a country other than the United States.

General Prohibitions
The General Prohibitions summarize the obligations of exporters under the EAR. Part 736 of the Export Administration Regulations lists 10 General Prohibitions describing certain exports, reexports and other conduct that are prohibited without a license or license exception.

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