| Easement |
A right to use another person's property. |
| Edge Act Corporations |
Banks that are subsidiaries either to bank holding companies or other banks established to engage in foreign business transactions. |
| Electronic Commerce |
A system of integrated communications, data management, and security services that allow business applications within different organizations to automatically interchange information. |
| Electronic Data Interchange (EDI) |
Electronic transmission of data and information according to particular protocols . |
| Electronic Funds Transfer |
System of transferring funds from one account to another by electronic means. |
| Electronic Meat Health Certificate |
(USA) A demonstration project that illustrates the electronic transmission of fresh meat health certificates. |
| Electronic Visa Information System (ELVIS) |
(USA) An electronic data system via which participating foreign governments transmit electronically to the U. S. Government details of shipments of quota controlled textile goods they have made to the U.S. |
| Embargo |
A government prohibition of exports or imports with respect to specific products or specific foreign countries. |
| En Route |
In transit (referring to goods, passengers, or vessels). |
| Entrepot |
An intermediary storage facility (often in an intermediate country) where goods are kept temporarily for distribution. |
| Entrepot Trade |
The import and export of goods which receive no further processing but are distributed from the entrepot facility which is chosen for its location and lack of restrictions on trade, |
| Entry |
1.That documentation required to be filed with the appropriate customs officer to secure the release of imported merchandise from customs custody.
2. The act of filing that documentation. |
| Entry Documents |
The documents required to complete customs entry to secure the release of imported merchandise. |
| Entry Summary |
(USA) Documentation which is necessary to enable US Customs to collect duties, collect statistics, and determine whether other requirements of law or regulations are met upon importation. In the US, the importer must classify the goods, determine their customs value, and calculate duties, taxes and fees. |
| Entry Summary System |
(USA) An Automated Customs System module that automates the entry processing cycle. |
| Environmental Protection Agency (EPA) |
(USA) An independent agency in the executive branch whose mandate is to control and abate pollution in the areas of air, water, solid waste, pesticides, radiation, and toxic substances. |
| Equalization |
In transportation, a money allowance given the customer if the transport company picks up the goods at origin points or delivers them to destination points other than those named on the bill of lading. |
| Escape Clause |
1. A provision in a bilateral or multilateral commercial agreement permitting a signatory nation to change their obligations when imports threaten serious harm to the producers of competitive domestic goods.
2. A provision in a contract or other document permitting parties to avoid liability for nonperformance under certain conditions. |
| ETA |
The expected date and time of arrival of a carrier. |
| ETD |
The expected date and time of departure of a carrier. |
| Eurobond |
A bond issued in a Euro-currency, usually Euro-dollars |
| Ex Factory |
This term is still widely used but it is being replaced by the Incoterm EXW - Ex Works. It is a sale term where the title to goods passes to the buyer when they leave the vendor's dock and consequently at that point the liability for loss or damage and the expenses of shipment also pass from vendor to buyer. |
| Exchange Rate |
The price of one currency expressed in terms of another. |
| Excise Tax |
Taxes on the manufacture, sale, or consumption of goods, or upon licenses to pursue certain occupations, or upon corporate privileges. In current usage it covers various license fees imposed by government and practically every internal revenue tax from any source except the income tax. |
| Exculpatory Clause |
1. A contractual clause that releases one party from liability in case of wrong doing by the other party involved.
2. A contractual clause which excuses a trustee from liability where he executes a power in good faith. |
| Expiry Date |
The "End", specifically: the cessation; termination by lapse of time as the expiration of a lease, insurance policy, or statute. Coming to a close or termination. The expiry date is the date on which these events occur. It is the last date that options or warrants can be executed. |
| Export |
To send or transport goods abroad out of a customs territory; to sever them from the mass of things belonging to one country with the intention of uniting them to the mass of things belonging to a foreign country. |
| Export Broker |
A firm that specializes in bringing foreign buyers and domestic sellers together for a fee but usually does not participate in the actual business transaction. |
| Export Control |
The establishment of procedures for the governmental control of exports for statistical or strategic purposes. |
| Export Declaration |
(USA) The Shipper's Export Declaration is a required customs document for exportation of goods from the United States which provides statistics and facilitates control where applicable. |
| Export Draft |
A documentary order in the form of a draft drawn on the importing party to pay the seller for the exported goods. |
| Export Duty |
A tax imposed by some nations on their exports. |
| Export License |
A license issued to exporters by governments to permit them to export certain goods to certain countries. Such goods may be of strategic importance, or simply in short supply, or are controlled to comply with foreign agreements. |
| Export Management Company |
A private firm that serves as the export department for several manufacturers and handles the exporting aspect of the business for a commission or fee. |
| Export Merchant |
A company that buys domestic and foreign products and sells to foreign purchasers. Usually an export merchant is able to compete because of specialized knowledge of the products in which they deal, detailed knowledge of foreign markets, and expertise in international trading techniques. |
| Export Processing Zone |
Industrial parks designated by a government to provide tax and other incentives to export firms. |
| Export Quotas |
Specified maximums which a nation places on the value or volume of certain of its exports. |
| Export Restraints |
Restrictions which a nation places upon its exports, often to avoid more burdensome restrictions being applied by the importing nations. |
| Export Statistics |
The statistics that cover the exports from one country to other countries. |
| Export Subsidies |
Government payments to induce exportation by domestic producers. |
| Export Trading Company |
A corporation organized for the principal purpose of exporting goods and services. |
| Exporter |
An individual or company that ships goods from one country to another in the course of trade. |
| Exporter Identification Number |
(USA) An identification number assigned to exporters of goods from the United States which is required to be shown on the Shipper's Export Declaration for all shipments from the USA.. |
| External Value |
The purchasing power of a currency abroad, converted using the exchange rate. |
| Extradition |
The surrender by one state or country to another of an individual accused or convicted of an offense within the jurisdiction of the other. |
| EXW (Ex Works ...named place) |
The seller fulfils his obligation to deliver when he has made the goods available at his premises (i.e. works, factory, warehouse, etc.) to the buyer. In particular, he is not responsible for loading the goods on the vehicle provided by the buyer or for clearing the goods for export, unless otherwise agreed. The buyer bears all costs and risks involved in taking the goods from the seller's premises to the desired destination. |
