• Tariff Engineering

  Tariff engineering is the practice of modifying a new or existing product so it qualifies for the lowest possible duty rate on that product.

• Tariff Quotas | Preferential or Autonomous

  Tariff concessions provided for a predetermined volume of goods are called preferential tariff quotas. Within these quotas, a set volume of goods originating in a specified country can benefit from a more favourable import duty rate than the normal third-country duty.

• Telex Release

  A telex release is typically an email sent from a partner at the port of origin to the destination port, allowing the ocean carrier to release your cargo without presentation of the hard-copy Original Bill of Lading (OBL).

• Total Insured Value

  The total insured value (TIV) of cargo is the total value of the goods being insured under a cargo insurance policy. It is the maximum amount of coverage the policy will provide if the goods are lost or damaged during transportation.

• Trade Remedy

  Trade remedies are tactics such as imposing additional duties, quotas, prohibitions on imports, or other methods that government organizations use to counteract unfair trade practices.

• Transloading

  Transloading is the process of moving a shipment from one mode of transport to another (e.g., from ocean container to truck).

• Transtainer

  A transtainer is a large gantry crane used to load and unload containers onto trucks or railway wagons, or to stack containers on top of each other in a container yard.

• Trucking Wait Fee

  A trucking wait fee is assessed by the trucker when the amount of free waiting time expires. Most drivers allow 1-2 free hours to load or unload a container, after which they charge for additional time at a prorated hourly rate.

• TEU (Twenty-foot Equivalent Unit)

  A TEU (twenty-foot equivalent unit) is a measure of volume in units of twenty-foot long containers. One 20-foot container equals one TEU, and two TEUs equal one FEU.

• Ultimate Consignee

  The ultimate consignee is the intended recipient of the imported merchandise sold by the shipper. In many cases the consignee is the same party as the ultimate consignee.

• ULD (Unit Load Device)

  A ULD (unit load device) is a device used to move cargo being shipped as airfreight. More specifically, a ULD is used to consolidate cargo to assist with the loading process onto an airplane.

• Valuation Challenge

  A valuation challenge is a type of customs inspection conducted by customs authorities when they have grounds to be suspicious about the declared customs value of a shipment.

• VAT (Value Added Tax) Number

  A VAT number is the unique number that identifies a taxable person (business) or non-taxable legal entity that is registered for VAT. A VAT (value added tax) number is required to import goods into the EU or UK.

• Wharfage

  Wharfage is the fee charged for the use of a wharf to load or unload a vessel. It is imposed by the port authority and passed on by ocean carriers.

• WMS (Warehouse Management System)

  A Warehouse Management System (WMS) is a specialized software application designed to optimize and control every aspect of warehouse operations, from the moment goods enter a facility until they are shipped to the end user.

• X-Ray Exam

  An X-ray exam, also known as a Non-Intrusive Inspection (NII) or a VACIS (Vehicle and Cargo Inspection System) exam, is the least intensive Customs exam.