Glossary

In short

One term, one page, one quotable sentence at the top. If a word on an invoice makes no sense, it is probably here.

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AEO: Authorised Economic Operator: an EU customs status granting simplifications to traders with proven compliance and security standards.
Air waybill: The transport document for air freight, evidencing the contract of carriage and the receipt of goods.
Anti-dumping duty: An extra duty imposed on specific goods from specific countries sold below normal value, often far larger than the standard tariff rate.
Bill of lading: The sea transport document: receipt for the goods, evidence of the contract of carriage, and a document of title.
CBAM: The EU carbon border adjustment mechanism, which prices embedded carbon in imports of certain goods.
CE marking: A manufacturer's declaration that a product meets the applicable EU requirements.
Chargeable weight: The weight air and some road carriers bill on: the greater of actual gross weight and volumetric weight.
CMR: The consignment note for international road transport under the CMR Convention.
Consolidation: Combining cargo from several suppliers or shippers into a single shipment.
Customs debt: The obligation to pay import or export duty on goods, owed by the declarant and, in indirect representation, by the representative too.
Customs value: The value on which duty is charged, normally the transaction value plus freight and insurance to the EU border.
Declarant: The person lodging a customs declaration in their own name, or in whose name it is lodged.
Declaration of conformity: The manufacturer's signed statement that a product meets the applicable EU legislation.
Demurrage: A charge for keeping a container inside the terminal beyond the free time.
Detention: A charge for keeping the carrier's container outside the terminal beyond the free time.
Direct representation: Customs representation in which the declaration is filed in the customer's name and on their behalf.
Dual-use goods: Items with both civil and military applications, subject to licensing.
EORI: The Economic Operators Registration and Identification number, required to lodge a customs declaration in the EU.
EUDR: The EU deforestation regulation, requiring proof that certain commodities are deforestation-free.
EXW: Ex Works: the seller makes the goods available at its premises and the buyer bears every cost from there.
FCL: Full container load: the whole container is used for one consignment.
Fiscal representative: A VAT-registered person who handles VAT obligations in a member state on behalf of a business not established there.
FOB: Free On Board: the seller delivers the goods loaded on the vessel at the named port of shipment.
CIF: Cost, Insurance and Freight: the seller pays carriage and insurance to the destination port.
DDP: Delivered Duty Paid: the seller delivers cleared goods to the buyer's premises.
HS code: The Harmonised System commodity code that determines duty rates and applicable measures.
ICS2: The EU import control system requiring advance cargo data before goods are loaded for the EU.
Import VAT: VAT charged when goods are released for free circulation, calculated on the customs value plus duty plus transport.
Indirect representation: Customs representation in which the declaration is filed in the representative's own name, on the customer's behalf.
LCL: Less than container load: cargo from several shippers shares one container.
Procedure 42: Customs procedure code 4200: import into one member state with exemption from import VAT because the goods are immediately supplied to another member state.
Reverse charge: A mechanism where the buyer, not the seller, accounts for the VAT on a transaction.
TARIC: The EU's integrated tariff database, holding duty rates and all measures applicable to a commodity code.
Transaction value: The price actually paid or payable for goods sold for export to the EU, the primary basis for customs value.
Volumetric weight: A weight derived from the size of a shipment, used when cargo is bulky relative to its mass.