Glossary+of+Commerce+Finance+&+Shipping

 period, such as three months or a year
 * GLOSSARY **
 * Currency **: the money used in a country (Euros, dollars, yen, etc.)
 * Cash ** **: money in notes (banknotes) and coins
 * Bank deposits ** ****: ** money that people and organisations have in bank accounts.
 * Salary: ** ** money paid monthly by an employer
 * Wages: ** ** money paid by the day or the hour, usually received weekly
 * Overtime: ** ** money received for working extra hours
 * Commission: ** ** money paid to salespeople and agents – a certain percentage of the income the employee generates
 * Bonus ** **: extra money given for meeting a target or for good financial results
 * Fees ** **: money paid to professional people such as lawyers and architects
 * Social security: ** ** money paid by a company or the government to a retired person.
 * Living expenses ** **: money spent on everyday needs such as food, cloths and public transport
 * Bills ** **: requests for the payment of money owed for services such as electricity, gas and telephone connections
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Rent ** **: the money paid for the use of a house or flat
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Mortgage: ** ** repayments of money borrowed to buy a house or flat
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Health insurance ** **: financial protection against medical expenses for sickness or accidental injuries
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Tax: ** ** money paid to finance governments spending
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Liabilities: ** ** obligations to pay other organisations or people, money that the company owes or will owe at the future day.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Suppliers ** **: companies which provide raw materials or parts
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Granting credit: ** ** if the suppliers have given the buyer a period of time before they have to pay for the goods
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Share capital ** **: the money the company raised by selling its shares
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Retain earnings: ** ** profits from previous years that have not been distributed as dividends
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash flow statemet: ** ** financial statement which show how much money a company has spent or received during a year
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Interest ** ** : the amount paid to borrow the money
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Shareholders ** ** : the people who invest money in shares
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Share Capital ** ** : the money shareholders provide
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Investors : ** ** individuals and financial institutions
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Bonds ** ** : loans that pay interest and are repaid at a fixed future date
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Debt ** ** : money that is owed to other people or businesses
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Working Capital or Funds ** ** : the money that a business uses for everyday expenses or has available for spending
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Revenue ** ** : all the coming into a company during a given period
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit, earnings or net income ** ** : revenue minus the cost of sales and operating expenses
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Dividend : ** ** the part of profit that a company pays to its shareholders
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Balance Sheet ** ** : a financial statement which shows the company's assets, its liabilities and its capital
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit and loss ** ** : a financial statement which shows the company's revenues and expenses during a particular
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Suppliers ** **: companies which provide raw materials or parts
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Granting credit: ** ** if the suppliers have given the buyer a period of time before they have to pay for the goods
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Share capital ** **: the money the company raised by selling its shares
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Retain earnings: ** ** profits from previous years that have not been distributed as dividends
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash flow statemet: ** ** financial statement which show how much money a company has spent or received during a year
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Interest ** ** : the amount paid to borrow the money
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Shareholders ** ** : the people who invest money in shares
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Share Capital ** ** : the money shareholders provide
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Investors : ** ** individuals and financial institutions
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Bonds ** ** : loans that pay interest and are repaid at a fixed future date
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Debt ** ** : money that is owed to other people or businesses
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Working Capital or Funds ** ** : the money that a business uses for everyday expenses or has available for spending
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Revenue ** ** : all the coming into a company during a given period
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit, earnings or net income ** ** : revenue minus the cost of sales and operating expenses
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Dividend : ** ** the part of profit that a company pays to its shareholders
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Balance Sheet ** ** : a financial statement which shows the company's assets, its liabilities and its capital
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit and loss ** ** : a financial statement which shows the company's revenues and expenses during a particular
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Bonds ** ** : loans that pay interest and are repaid at a fixed future date
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Debt ** ** : money that is owed to other people or businesses
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Working Capital or Funds ** ** : the money that a business uses for everyday expenses or has available for spending
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Revenue ** ** : all the coming into a company during a given period
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit, earnings or net income ** ** : revenue minus the cost of sales and operating expenses
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Dividend : ** ** the part of profit that a company pays to its shareholders
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Balance Sheet ** ** : a financial statement which shows the company's assets, its liabilities and its capital
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit and loss ** ** : a financial statement which shows the company's revenues and expenses during a particular
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit, earnings or net income ** ** : revenue minus the cost of sales and operating expenses
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Dividend : ** ** the part of profit that a company pays to its shareholders
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Balance Sheet ** ** : a financial statement which shows the company's assets, its liabilities and its capital
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit and loss ** ** : a financial statement which shows the company's revenues and expenses during a particular
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Balance Sheet ** ** : a financial statement which shows the company's assets, its liabilities and its capital
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit and loss ** ** : a financial statement which shows the company's revenues and expenses during a particular
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit and loss ** ** : a financial statement which shows the company's revenues and expenses during a particular
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Profit and loss ** ** : a financial statement which shows the company's revenues and expenses during a particular
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Liabilities : ** ** obligations to pay other organisations or people : money that the company owes, or will owe at a future date
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Retained earnings ** ** : profits from previous years that have not been distributed
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Fixed Assets ** ** : used by the business for a long time
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Current Assets : ** ** things that will probably be used by the business in the near future
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash : ** ** money available to spend immediately
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Fixed Assets ** ** : used by the business for a long time
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Current Assets : ** ** things that will probably be used by the business in the near future
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash : ** ** money available to spend immediately
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash : ** ** money available to spend immediately
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash : ** ** money available to spend immediately


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Debtors **** : companies or people who owe money they will have to pay in the near future


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Anticipate the loss **** : company thinks a debt will not be paid


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Work-in-progress **** : a stock of raw materials


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Tangible assets **** : assets with a physical existence - things you can touch - such as proparty, plant and equipment


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Accumulated depreciation charges **** : the amount of cost that has already been deducted


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Brand names **** : protected names for a company's products


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Patents **** : exclusive rights to produce a particular new product for a fixed period

raw materials, labor and factory expenses.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Trade marks **** : names or symbols that are put on products and cannot be used by other companies.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Net worth or net assets ** ** : assets minus liabilities
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Current liabilities ** ** : expected to be paid within a year of the date of the balance sheet
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Creditors : ** ** suppliers of goods or services to the business who are not paid at the time of purchase
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Deferred taxes ** ** : money that will have to be paid as tax in the future, although the payment does not have to be made now
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Accrued expenses ** ** : expenses that have accumulated or built up during the accounting year but will not be paid until the following year, after the date of the balance sheet
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Share premium ** ** : money made if the company sells shares at above their face value
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Face value ** ** : the value written on the shares
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Reserves ** ** : funds set aside from share capital and earnings, retained for emergencies or other future needs
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Sales revenue or turnover ** ** : the total amount of money received during a specific period
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cost of sales or cost of goods sold ** ** : the costs associated with making the products that have been sold, such as
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Share premium ** ** : money made if the company sells shares at above their face value
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Face value ** ** : the value written on the shares
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Reserves ** ** : funds set aside from share capital and earnings, retained for emergencies or other future needs
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Sales revenue or turnover ** ** : the total amount of money received during a specific period
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cost of sales or cost of goods sold ** ** : the costs associated with making the products that have been sold, such as
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Reserves ** ** : funds set aside from share capital and earnings, retained for emergencies or other future needs
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Sales revenue or turnover ** ** : the total amount of money received during a specific period
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cost of sales or cost of goods sold ** ** : the costs associated with making the products that have been sold, such as
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cost of sales or cost of goods sold ** ** : the costs associated with making the products that have been sold, such as
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cost of sales or cost of goods sold ** ** : the costs associated with making the products that have been sold, such as
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Gross Profit ** ** : the difference between the sales revenue and the cost of sales
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">EBITDA ** ** : earnings before interest, tax, depreciation and amortization
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">EBIT ** **: earnings before interest and tax
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash flow statement ** ** : gives details of cash flows - money coming into and leaving the business
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">EBIT ** **: earnings before interest and tax
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash flow statement ** ** : gives details of cash flows - money coming into and leaving the business
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash flow statement ** ** : gives details of cash flows - money coming into and leaving the business
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Cash flow statement ** ** : gives details of cash flows - money coming into and leaving the business


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Operations: ** day-to-day activities


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Investing : **** buying or selling property, plant and equipment

they cross frontiers. documents are presented within the agreed time. a specific sum of money at a future date.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Financing : ** issuing or repaying debt, or issuing shares
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Free trade **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** people and companies should be able to buy goods from all countries, without any barriers when
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Free trade **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** people and companies should be able to buy goods from all countries, without any barriers when
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Comparative cost principle **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** is that countries should produce whatever they can make the //<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">most cheaply. //
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Economies of scale: ** ** //<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">reduced ////<span style="font-style: normal; font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial; mso-bidi-font-style: italic;">production costs //<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;"> //<span style="font-style: normal; font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial; mso-bidi-font-style: italic;">because of large-scale //<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;"> //<span style="font-style: normal; font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial; mso-bidi-font-style: italic;">production. //
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Imports: ** ** are goods or services bought from a foreign country.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Exports: ** ** are goods or services sold to a foreign country.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Balance of trade or trade surplus: ** ** a country that exports more goods than it imports has a positive.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Trade deficit **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** the opposite of trade surplus.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Visible **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** trade in goods.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Invisible: ** ** Services such as banking, insurance and tourism.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Balance of payments **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** adding invisibles to the balance of trade.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Protectionism: ** ** restricting imports in order to help local products.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Quotas **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** limits to the number of products which can be imported.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Dumping: ** ** selling goods abroad at below cost price in order to destroy or weaken competitors or to earn foreign currency to pay for necessary imports.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Documentary credit: ** ** payment for imported products.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Exporter: ** ** a company which sells goods or services to other countries.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Importer: ** ** a company which buys products from other countries.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable: ** ** documentary credits cannot be changed unless all the parties involved agree.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable credits: ** ** guarantee that the bank which establishes the letter of credit will pay the seller if the
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Balance of payments **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** adding invisibles to the balance of trade.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Protectionism: ** ** restricting imports in order to help local products.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Quotas **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** limits to the number of products which can be imported.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Dumping: ** ** selling goods abroad at below cost price in order to destroy or weaken competitors or to earn foreign currency to pay for necessary imports.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Documentary credit: ** ** payment for imported products.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Exporter: ** ** a company which sells goods or services to other countries.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Importer: ** ** a company which buys products from other countries.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable: ** ** documentary credits cannot be changed unless all the parties involved agree.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable credits: ** ** guarantee that the bank which establishes the letter of credit will pay the seller if the
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Exporter: ** ** a company which sells goods or services to other countries.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Importer: ** ** a company which buys products from other countries.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable: ** ** documentary credits cannot be changed unless all the parties involved agree.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable credits: ** ** guarantee that the bank which establishes the letter of credit will pay the seller if the
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable: ** ** documentary credits cannot be changed unless all the parties involved agree.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable credits: ** ** guarantee that the bank which establishes the letter of credit will pay the seller if the
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable credits: ** ** guarantee that the bank which establishes the letter of credit will pay the seller if the
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Irrevocable credits: ** ** guarantee that the bank which establishes the letter of credit will pay the seller if the
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Bill of exchange or draft//:// ** ** Payment demand, written or drawn up by an exporter, instructing an importer to pay
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Bill of exchange or draft//:// ** ** Payment demand, written or drawn up by an exporter, instructing an importer to pay
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Endorse: ** ** a bill is to guarantee to pay it if the byer of goods does not.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Endorse: ** ** a bill is to guarantee to pay it if the byer of goods does not.

insurance. a truck, train or airplane.
 * Bill of lading:** is a document signed by the carrier or transporter confirming that the goods have been received for shipment.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">In transit **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** while being transported.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Commercial invoice **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** contains detail of the goods.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Incoterms **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** companies exporting or importing goods use standard arrangements.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Additional costs: ** ** the costs on top of the cost of the goods.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Documentation: ** ** preparing all the necessary documents.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Customs clearance: ** ** completing import documents and paying any import duties or taxes and transport
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Additional costs: ** ** the costs on top of the cost of the goods.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Documentation: ** ** preparing all the necessary documents.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Customs clearance: ** ** completing import documents and paying any import duties or taxes and transport
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Documentation: ** ** preparing all the necessary documents.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Customs clearance: ** ** completing import documents and paying any import duties or taxes and transport
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">Customs clearance: ** ** completing import documents and paying any import duties or taxes and transport
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">FCA ** ** //**<span style="font-style: normal; font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial; mso-bidi-font-style: italic;">or Free Carrier: **// means that the goods are delivered to a named place where the carrier can load them onto
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">FCA ** ** //**<span style="font-style: normal; font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial; mso-bidi-font-style: italic;">or Free Carrier: **// means that the goods are delivered to a named place where the carrier can load them onto
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">FAS or Free Alongside Ship: ** ** means that seller delivers the goods to the quay next to the ship in the port.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">FOB or Free On Board: ** ** means that the seller pays for loading the goods onto the ship.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">CFR or Cost and Freight: ** ** used for ocean freight, the buyer is responsible for insurance.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">CPT or Carriage Paid : ** **used for air freight and land freight, the buyer is responsible for insurance.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">CIF or Cost, Insurance and Freight ** ** //**<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: **//used for ocean freight ,the seller arranges and pays for insurance.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">CIP or Carriage and Insurance Paid ** ** //**<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: **//used for air freight and land freight, the seller arranges and pays for insurance.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">DAF or Delivered At Frontier **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** the importer is responsible for preparing the documentation and getting the goods through customs.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">DES or Delivered Ex Ship **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** the buyer pays for unloading the goods from the ship.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">CIF or Cost, Insurance and Freight ** ** //**<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: **//used for ocean freight ,the seller arranges and pays for insurance.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">CIP or Carriage and Insurance Paid ** ** //**<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: **//used for air freight and land freight, the seller arranges and pays for insurance.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">DAF or Delivered At Frontier **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** the importer is responsible for preparing the documentation and getting the goods through customs.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">DES or Delivered Ex Ship **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** the buyer pays for unloading the goods from the ship.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">DAF or Delivered At Frontier **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** the importer is responsible for preparing the documentation and getting the goods through customs.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">DES or Delivered Ex Ship **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** the buyer pays for unloading the goods from the ship.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">DES or Delivered Ex Ship **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** the buyer pays for unloading the goods from the ship.
 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">DES or Delivered Ex Ship **//<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: // ** the buyer pays for unloading the goods from the ship.


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">DEQ or Delivered Ex Quay: **** the seller pays for unloading the goods from the ship to the quay, and for the payment of customs duties and taxes.


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial; mso-bidi-font-style: italic;">DDU or Delivered Duty Unpaid ****<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: **** the buyer pays any import taxes.


 * <span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial; mso-bidi-font-style: italic;">DDP or Delivered Duty Paid ****<span style="font-family: 'Candara','sans-serif'; mso-bidi-font-family: Arial;">: **** the seller pays any import taxes.