International Trade Consultants Key Terms

Learn international trade consultants key terms to help expand business operations
By Kelley Keith Working with international trade consultants can open new territories for your business in other countries. However, before you begin a dialogue with a consultant, it's important to know some industry terms. This will enable you to understand the process and get a better idea of how the industry operates. For instance, many different regulatory agencies govern international trade in the United States. Educating yourself on this information as well as other terms will enable your company to choose the best international trade consultant that fits present needs.
 

Air, road, rail and sea regulations

Whether the mode of international trade transport be air, road, rail or sea, there are regulations that govern each method. The regulatory bodies also differ depending on the type of transport. Goods considered dangerous receive special consideration under these regulations.
Try: Review the information from the Business Gateway for more information on air, road, rail and sea regulations for international trade.

International tariffs and duties

The tariffs and duties are the cost of transporting goods from one country to another. These international trade costs will differ depending on the country, but there are general guidelines that will help you understand this aspect of international trade consultants' job requirements.
Try: Examine the international tariffs and duties primer from Supply Chain Management for more information.

Free on Board, FOB

Free on Board is the term of international shipping by which you designate the time, place and method of delivery and payment for shipped goods. Free on Board is more of legal term and will differ from one country to the next.
Try: Study the Free on Board tutorial available at Investopedia for further details.

Cost, Insurance and Freight or CIF

Cost, Insurance and Freight is a second legal international trade term that's an alternative to Free on Board for companies new to international business, or those with fewer shipments.
Try: Assess the comparison of the two terms and a definition of CIF at Speedy Cargo.

Customs & Trade Partnership Against Terrorism or C-TPAT

Following the terrorist attacks of 9/11, tough new trade programs became more prevalent. One such program is the Customs & Trade Partnership Against Terrorism which is voluntary and seeks to increase the security of the border on the United States.
Try: Review the C-TPAT information from U.S. Customs and Border Protection for further explanation of the program.