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

Import and Export Glossary with Letter Q

Quota : The quantity of goods of a specific kind that a country permits to be imported without restriction or imposition of additional duties.

Quotation : An offer to sell goods at a stated price and under specified conditions.

Import and Export Glossary with Letter R

R. & C. : Rail and Canal

R. & C.C. : Riots and Civil Commotions

R.C.C. & S. : Riots, Civil Commotions and Strikes

R/C : Reconsigned

Rebate : A deduction taken from a set payment or charge. As a rebate is given after payment of the full amount has been made, it differs from a discount which is deducted in advance of the payment. In foreign trade, a full or partial rebate may be given on import duties paid on goods which are later re-exported.

Reciprocity : A practice by which governments extend similar concessions to one another.

Red Clause Letter of Credit : A letter of credit that allows the exporter to receive a percentage of the face value of the letter of credit in advance of shipment. This enables the exporter to purchase inventory and pay other costs associated with producing and preparing the export order.

REFG. : Refrigerating; Refrigeration

Regs. : Registered Tonnage

Remitting Bank : The bank that sends the draft to the overseas bank for collection.

Representative : See Foreign sales agent.

Retaliation : Action taken by a country to restrain its imports from another country that has increased a tariff or imposed other measures that adversely affects the firsts country's exports.

Revocable Letter of Credit : A letter of credit that can be canceled or altered by the drawee (buyer) after it has been issued by the drawee's bank. Compare Irrevocable letter of credit.

RORO (ROLL ON-ROLL OFF) : Direct drive on/drive off wheeled vehicles on specially-designed ocean-going vessels.

Route : An established air passage, from point of departure to terminating station.

Royalty : A charge on charter flights levied by some governments before traffic rights are granted. Sometimes called a "no objection fee." Usually a fixed proportion of a total charter value.