Business in China | Import and Export Glossary | Shipping Terms - Export Glossary with incoterms for your business in China

Import and Export Glossary with Letter E

E.A.O.N. : Except as otherwise noted

EDI or EDIFACT : Electronic Data Interchange for Administration, Commerce and Transport, from the UN-backed electronic data interchange standards body, to create electronic versions of common business documents that will work on a global scale. One digital document under consideration, the International Forwarding and Transport Message will do the jobs of six different electronic messages currently in use.

EMC : See Export management company.

Empty Leg : Results from an aircraft primarily chartered outbound having cargo capacity inbound or vice versa. A cheap form of airfreight.

Endorsement in Blank : Commonly used on a bank check, an endorsement in blank is an endorsement to the bearer. It contains only the name of the endorser and specifies no particular payee. Also, a common means of endorsing bills of lading dawn to the order of the shipper. The bills are endorsed "For..." (see Bill of Lading, Order).

ETC : See Export trading company.

Eurodollars : U.S. dollars on deposit outside of the United States to include dollars on deposit at foreign branches of U.S. banks, and dollars on deposit with foreign banks.

Ex : From. When used in pricing terms such as "ex factory" or "ex dock," it signifies that the price quoted applies only at the point of origin (in the two examples, at the seller's factory or a dock at the import point). In practice, this kind of quotation indicates that the seller agrees to place the goods at the disposal of the buyer at the specified place within a fixed period of time.

Ex. B.L. : Exchange bill of lading

Exchange Permit : A government permit sometimes required by the importer's government to enable the import firm to convert its own country's currency into foreign currency with which to pay a seller in another country.

Exchange Rate : The price of one currency in terms of another, that is, the number of units of one currency that may be exchanged for one unit of another currency.

Eximbank : Export-Import Bank of the United States.

Export Broker : The individual who brings together buyer and seller for a fee, eventually withdrawing from any transaction.

Export Commission house : An organization which, for a commission, acts as a purchasing agent for a foreign buyer.

Export Declaration : A form to be completed by the exporter or their authorized agent and filed in triplicate by a carrier with the United State Collector of customs at the point of exit. It serves a twofold purpose 1. Primarily, it is used by the U.S. Bureau of Census for the compilation of export statistics on United States foreign trade (for this reason an export declaration is required for practically all shipments from the United States to foreign countries and the United States possessions, except for mail shipments of small value, or for those of a non commercial character); 2. The declaration also serves as an export control document because it must be presented, together with the export license, to the United States Customs at the port of export. If the goods may be exported under general export license, this fact must be stated on the export declaration.

Export License : A document secured from a government, authorizing an exporter to export a specific quantity of a particular commodity to a certain country. An export license is often required if a government has place embargoes or other restrictions upon exports. See General Export License.

Export Management Company : A private firm that serves as the export department for several producers of goods or services, either by taking title or by soliciting and transacting export business on behalf of its clients in return for a commission, salary, or retainer plus commission.

Export Trading Company : A corporation or other business unit organized and operated primarily for the purpose of exporting goods and services, or of providing export related services to other companies.

Express : Premium-rated service for urgent deliveries.

EXW : Ex works. Same as the former "Ex Works."FAK Freight All Kinds - uniform airline charging scale applying to a number of commodities; as opposed to SCR (Specific Commodity Rate) applying to one commodity only.