Shipping & Transport

Bill of Lading (B/L) – A legal document issued by a carrier to acknowledge receipt of cargo for shipment. Serves as a contract and receipt.

Air Waybill (AWB) – A transport document for air freight that acts as a receipt of goods and a contract of carriage.

FOB (Free on Board) – An Incoterm meaning the seller delivers goods on board a vessel nominated by the buyer; the buyer assumes risk from that point.

CIF (Cost, Insurance, and Freight) – Seller covers the cost, insurance, and freight to bring goods to the port of destination; risk passes when goods are on board.

Consolidation – Combining multiple shipments into one container or load to reduce costs.

Customs & Compliance

HS Code (Harmonized System Code) – A standardized numerical method of classifying traded products for customs purposes.

Customs Duty – A tariff or tax imposed on goods when transported across international borders.

Import License – Authorization from a government to import certain regulated products.

Prohibited Goods – Items banned from import or export (e.g., alcohol, drugs, counterfeit goods in Kuwait).

Restricted Goods – Goods requiring special permits or licenses for import (e.g., pharmaceuticals, cosmetics).

Declaration – Official statement submitted to customs detailing the nature, quantity, and value of imported/exported goods.

Trade & Documentation

Certificate of Origin (COO) – Document certifying the country where the goods were manufactured, often required for preferential duty rates.

Commercial Invoice – A bill for goods from the seller to the buyer, containing details necessary for customs clearance.

Packing List – Itemized list of goods in a shipment including weights, dimensions, and packaging details.

Incoterms – Internationally recognized trade terms defining responsibilities between buyers and sellers in international transactions.

Valuation – The process of determining the customs value of imported goods for duty assessment.