A to Z export guide for Indian exporters

Following are some of the common basic terms of export:
• Air Freight
• Airway Bill (AWB)
• Authorized Dealer (AD) Code
• Bank Realization Certificate (BRC)
• Bill of Entry (BoE)
• Bill of Lading (BL or BoL)
• Cargo
• Carriage and Insurance Paid (CIP)
• Certificate of Inspection
• Container Freight Station (CFS)
• Cost Insurance Freight (CIF)
• Custom Duty
• Delivered at Place (DAP)
• Delivered Duty Paid (DDP)
• DGFT (Directorate General of Foreign Trade)
• Export
• Freight
• Full Container Load (FCL)
• ICEGATE (Indian Customs Electronic Data Interchange Gateway)
• IEC (Importer Exporter Code)
• Import General Manifest (IGM)
• Incoterms
• Less than Container Load (LCL)
• Letter of Credit (LC)
• Logistics
• Ocean Freight
• Over Dimensional Cargo (ODC)
• Sea Waybill
• Shipper’s Letter of Instruction (SLI)
• Shipping

Here are some of the common terms used in shipping, categorized under relevant headings:

Shipping documents:
• Bill of Lading (BL or BoL)
• Sea Waybill
• Airway Bill (AWB)
• Bill of Entry (BoE)
• Import General Manifest (IGM)
• Shipping instructions

Shipping terms:
• Freight
• Ocean Freight
• Air Freight
• Carriage & Insurance Paid (CIP)
• Cost Insurance Freight (CIF)
• Delivered at Place (DAP)
• Delivered Duty Paid (DDP)
• Ex Works (EXW)
• Free Carrier (FCA)
• Free Alongside Ship (FAS)
• Free on Board (FOB)
• Cost and Freight (CFR)
• Carriage Paid To (CPT)

Transportation:
• Cargo
• Carrier
• Vessel
• Shipping Line
• Shipping Agent
• Shipping Schedule
• Transit Time
• Demurrage
• Detention
• Consolidation
• Deconsolidation
• Containerization
• Break Bulk Shipping

Customs clearance:
• Customs Clearance
• Customs Broker
• Harmonized System (HS) Codes
• Tariff Codes
• Export Control Classification Number (ECCN)

The commonly used term for transporting goods is ‘shipping’, which refers to the movement of goods, products, or cargo from one place to another, either domestically or internationally, through various modes of transportation such as ships, airplanes, trucks, trains, or pipelines. Shipping involves various activities, including packing, loading, unloading, handling, storage, and transportation. It often involves the use of specialised equipment and facilities to ensure safe and efficient transport of goods.

Terminologies of trade refer to the various terms, concepts, and practices used in international trade including buying, selling, shipping, and financing goods. Some of the common terminologies of trade include:
• Export: Sending goods to a foreign country for sale or use.
• Import: Bringing goods or services into a country from another country for sale or use.
• Tariff: It is a tax levied on imported or exported goods.
• Customs: The government agency responsible for controlling movement of goods in and out of a country.
• Free trade: A policy that allows the free flow of goods between countries without tariffs or other barriers.
• Quota: A limit on the amount of goods that can be imported or exported.
• Incoterms: A set of standardized international commercial terms that define the responsibilities of an exporter and importer in international trade.
• Letter of Credit (LC): A financial document issued by a bank that guarantees payment to the exporter if the terms of the transaction are met.
• Bill of Lading (BoL): A legal document issued by a carrier that acknowledges the receipt of goods for shipment. Consignment: A shipment of goods sent by an exporter to an importer on a trial basis, with payment made only upon the sale of goods.
• FOB (Free on Board): It means the seller is responsible for the goods until they are loaded onto a carrier, at which point the importer assumes responsibility.
• CIF (Cost, Insurance, Freight): CIF means the seller is responsible for the cost of goods, insurance, and freight until they are delivered to the importer.
• Payment terms: The agreed-upon terms between the importer and exporter regarding payment for goods or services, such as net 30, 60, or 90 days.