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Glossary of Trade Terms

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A
Ad Valorem Tariff - A tariff calculated "according to value", or as a percentage of the value of goods cleared through customs; for example, 15 percent ad valorem means 15 percent of the value of the entered merchandise.

Air Waybill - A non-negotiable contract for carriage of air transportation between an air carrier and a shipper.

All-Risk Insurance - The broadest form of coverage available, providing protection against all risk of physical loss or damage from any external cause. Does not cover loss or damage due to delay, inherent vice, inadequate packaging, or loss of market.

ATA Carnet - An ATA Carnet (a. k. a. "Merchandise Passport") is a document that facilitates the temporary importation of products into foreign countries by eliminating tariffs and value-added taxes (VAT) or the posting of a security deposit normally required at the time of importation.
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