Import and Export Glossary with Letter T
T.B.L. : Through bill of lading
T.I.B. : Temporary Import Entry
Tally Sheet : List of cargo, incoming and outgoing, checked by Tally clerk on dock.
Tare Weight : The weight of the container and/or packing materials only - excluding the weight of the goods inside the container.
Tariff : A general term for any listing of rates, charges, etc. the tariffs most frequently encountered in foreign trade are tariffs of the international transportation companies operating on sea, on land, and in the air; tariffs of the international cable, radio, and telephone companies; and the customs tariffs of the various countries, which list goods that are duty free and those subject to import duty, giving the rate of duty in each case. There are various classes of customs duties.
Temperature Controlled Cargo : Any cargo requiring carriage under controlled temperature
Tenor (of a draft) : Designation of a payment as being due at sight, a given number of days after sight, or a given number of days after date.
TEU : Twenty foot equivalent.
Third Freedom Right : Where cargo is carried by an airline, from the country in which it is based, to a foreign country.
Through Bill of Lading : A single bill of lading converting both the domestic and international carriage of an export shipment. An air waybill, for instance, is essentially a through bill of lading used for air shipments. Ocean shipments, on the other hand, usually require two separate documents - an inland bill of lading for domestic carriage and an ocean bill of lading for international carriage. Through bills of lading are insufficient for ocean shipments. Compare Air waybill, Inland bill of lading, and Ocean bill of lading.
Time Draft : A draft that matures either a certain number of days after acceptance or a certain number of days after the date of the draft. Compare Date draft and Sight draft (see chapter 13).
Title, Passing : The passing of title to exported goods is determined in large measure by the selling terms. For example, if an exporter sells goods c.i.f he may be presumed to pass ownership and tender of documents. However, he may ship on a bill of lading drawn to his own order, to prevent the buyer from gaining possession of the goods until the draft is paid or accepted. In this case he retains a security title to the goods; that is, a title for security purposes only, until the financial arrangement is carried out. Caution depending on the laws of the buyer's country, you may not be able to force passage of title without payment having been received or the buyer having accepted delivery of the goods or a clear understanding by the buyer being understood and accepted.
TL : Truckload
Ton : Freight rates for liner cargo generally are quoted on the basis of a certain rate per ton, depending on the nature of the commodity. This ton, however, may be weight ton or a measurement ton.
Ton-Deadweight : Indicates the carrying capacity of the ship in terms of the weight in tons of the cargo, fuel, provisions and passengers which a vessel can carry.
Ton-Displacement : The weight of the volume of water which the fully loaded ship displaces.
Ton-Kilometer : Measure of airline freight capacity
Ton-Registered : Indicates the cubical contents or burden of a vessel in tons of 100 cubic feet. The space within a vessel in units of 100 cubic feet.
Tracking : A carrier's system of recording movement intervals of shipments from origin to destination.
Trade : A term used to define a geographic area or specific route served by carriers.
Traffic Conferences : Rate-fixing machinery operated by IATA.
Tramp : A tramp is a vessel that does not operate along a definite route on a fixed schedule, but calls at any port where cargo is available.
Tramp steamer : A ship not operating on regular routes or schedules.
Transaction statement : A document that delineates the terms and conditions agreed upon between the importer and exporter.
Transferable Letter of Credit : A letter of credit that allows all or a portion of the proceeds to be transferred from the original beneficiary to one or more additional beneficiaries.
Transport Index : The number expressing the maximum radiation level in a package of ULD
Transshipment : The transfer of a shipment from one carrier to another in international trade, most frequently from one ship to another. In as much as the unloading and reloading of delicate merchandise is likely to cause damage, transshipments are avoided whenever possible.
Truckload : Truckload rates apply where the tariff shows a truckload minimum weight. Charges will be at the truckload minimum weight unless weight is higher.
Trust receipt : Release of merchandise by a bank to a buyer in which the bank retains title to the merchandise. The buyer, who obtains the goods for manufacturing or sales purposes, is obligated to maintain the goods (or the proceeds from their sale) distinct from the remainder of his or her assets and to hold them ready for repossession by the bank.
Turnkey Project : Capital construction projects in which the supplier (contractor) designs and builds the physical plant, trains the local personnel on how to manage and operate the facility and presents the buyer with a self-sustaining project (all the buyer has to do is "turn the Key").
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