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Glossary of Trade Terms

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T
Tare Weight - The weight of packing and containers without the goods to be shipped.

Tariff - A duty (or tax) levied upon goods transported from one customs area to another either for protective or revenue purposes. Tariffs raise the prices of imported goods, thus making them generally less competitive within the market of the importing country unless that country does not produce the items so tariffed. The tariffs most frequently encountered in foreign trade are: tariffs of international transportation companies operating on sea, land, and in the air; tariffs of international cable, radio, and telephone companies; and the customs tariffs of the various countries that list goods that are duty free and those subject to import duty, giving the rate of duty in each case. There are various classes of customs duties.

Temperature Controlled Cargo - Any cargo requiring carriage under controlled temperature.

TEU - A twenty-foot equivalent unit (6.1m). A standard unit for counting containers of various lengths and for describing container ship or terminal capacity. A standard 40' container (FEU) equals 2 TEUs.

THC (Terminal Handling Charge) - A charge for handling services performed at terminals.

Time Draft - A draft that matures in a certain number of days, either from acceptance or the date of the draft.

Ton - Freight rates for liner cargo generally are quoted on the basis of a certain rate per ton, depending on the nature of the commodity. This ton, however, may be a weight ton or a measurement ton.

Ton-Deadweight - The carrying capacity of the ship in terms of the weight in tons of the cargo, fuel, provisions, and passengers which a vessel can carry.

Tracking - A system of recording movement intervals of shipments from origin to destination.

Trade Barriers - Government laws, regulations, policies, or practices that either protect domestic products from foreign competition or artificially stimulate exports of particular domestic products.

Transshipment - The transfer of a shipment from one carrier to another in international trade, most frequently from one ship to another. Because the unloading and reloading of delicate merchandise may cause damage, transshipments are avoided whenever possible.

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