Commercial Terms Frequently Used in Garment Exportation and Importation

Posted by Firoz Kabir on Sunday, December 8, 2013 0

AWB            - Air Waybill

D/C              - Documentary Credit
(also known as L/C)

CFR             - Cost & Freight

CIF               - Cost, Insurance & Freight
(Price of products including insurance and cost of freight up to certain destination port.)

CNF/C&F    - Cost & Freight
(Price of products including cost of freight up to certain destination port.)

CNF             - Clearing & Forwarding

ETA              - Expected Time of Arrival

ETD              - Expected Time of Delivery

BL                 - Bill of Loading

FCL              - Full Container Load

FOB             - Free On Board
(Price of products including freight cost up to the port of origin.)

GSP              - Generalized System of Preference

HAWB          - House Air Waybill

H.S. Code     - Harmonized System Code

Incoterms     - International Commercial Terms

L/C               - Letter of Credit (also known as D/C)

BTB L/C      - Back To Back L/C

LCL             - Less than Container Load. (or, Less than Carload Lot.)

MAWB         - Master Air Waybill

MOQ            - Minimum Order Quantity

PB                 - Performance Bond (also known as Performance Guarantee)

PG                 - Performance Guarantee (also known as Performance Bond)

PI                  - Proforma Invoice

PSI                - Pre-Shipment Inspection

TT                 - Telegraphic Transfer (Wire Transfer)

About the Author

Md. Firoz Kabir(M.Sc in Textile Engineering)

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