Customs & Compliance Glossary
Customs clearance and trade compliance — HS codes, AEO, free trade zones and the frameworks that govern goods crossing borders.
11 terms in this category
106 terms total
A
AEOAuthorised Economic Operator
A trusted-trader status granted by customs to operators meeting compliance and security standards.
ATA Carnet
An international customs document allowing temporary import/export of goods without paying duty.
B
Bonded Warehouse
A customs-controlled facility where imported goods are stored without paying duty until they are withdrawn.
C
Certificate of Origin (CO)
A document certifying the country where goods were manufactured, used for tariffs and trade-agreement eligibility.
Customs Bond
A financial guarantee that an importer will pay the duties, taxes and penalties owed to customs.
Customs Broker
A licensed professional or company that handles customs entry filings on behalf of importers and exporters.
D
De Minimis
The value threshold below which imported goods are exempt from duty and often import tax.
Duty Drawback
A refund of customs duties paid on imported goods that are subsequently re-exported or used to make exports.
F
Free Trade Zone (FTZ)
A designated area where goods can be imported, stored, processed and re-exported without normal customs duties.
H
HS CodeHarmonized System Code
The international standardised numeric code that classifies traded products for customs duty, statistics and regulation.
T
Tariff
A tax imposed on imported (or exported) goods, set by the tariff schedule against the HS code.
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