CLTD Question and answers 100% correct 2024/2025 Pro Forma Invoice - correct answer A quote provided by a seller/exporter prior to the delivery of products or services, informing the buyer/importer of the price. This document is submitted to customs for valuation purposes.
IncoTerms - correc...
CLTD - Module 6
Pro Forma Invoice - correct answer ✔A quote provided by a seller/exporter
prior to the delivery of products or services, informing the buyer/importer of
the price. This document is submitted to customs for valuation purposes.
IncoTerms - correct answer ✔A set of rules established by the International
Chamber of Commerce that provides internationally recognized rules for
interpretation of the most commonly used trade terms in foreign trade and are
routinely incorporated in the contracts for the sale of goods worldwide to
provide guidance to all parties involved in the transaction.
Recycle - correct answer ✔1.) The reintroduction of partially processed
product or carrier solvents from one operation or task into a previous
operation. 2.) A recirculation process.
Certificate of Origin - correct answer ✔A document attesting to a shipment's
country of origin.
Anti-Bribery Regulations - correct answer ✔Country regulations that penalize
organizations who engage in bribery. The OECD Anti-Bribery Convention
requires countries to develop such regulations.
Export Management Company (EMC) - correct answer ✔An organization
that serves as a sales department for a domestic organization's international
markets, earning commissions on completed sales. EMCs select distribution
channels and markets, arrange promotional campaigns, analyze customer
credit information, advise on payment terms, administer documentation, and
collect international debts. They may also arrange transportation, provide
warehouse space, manage export inventory, and provide break-bulk services.
, Embargo - correct answer ✔A prohibition established by a nation's
government that prohibits individuals or organizations to conduct any trade
with individuals or organizations from another particular nation.
Harmonized Tariff Schedule (HTS) - correct answer ✔The mechanism by
which international tariffs are standardized. Importers and exporters use them
to determine the amount of tariff to pay and must classify all goods moved
across international boarders using the Harmonized System of the country of
import.
Duty - correct answer ✔A tax levied by a government on the importation,
exportation, or use and consumption of goods.
Hazardous Materials - correct answer ✔Any material that a country's
relevant government agency has classified as a risk to human, animal, or
environmental health or to property, either on its own or due to interaction with
other elements. A government's transportation authority may only allow
transportation given proper permits and safety precautions. Similarly, a
government may regulate or supervise hazardous material disposal.
Categories include explosives, flammable or corrosive liquids or gasses,
biohazards, and radioactive materials.
Bill of Lading (International) (B/L) - correct answer ✔A bill of lading used in
international trade to help ensure exporters are paid and importers receive the
promised goods. When they are used for international transport, these include
master bills of lading, house bills of lading, intermodal bills of lading, or air
waybills.
Certificate of Manufacture - correct answer ✔A certificate that attests that the
goods were manufactured in the exporter's country. It is provided and signed
by the exporter's chamber of commerce.
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