Reference
Glossary
A short reference for the terms that come up in trade analytics. Where a term has a strict regulatory meaning, the definition here is the working one we use in reporting.
Trade and customs
- HTS: the Harmonized Tariff Schedule code that classifies a good and sets its duty rate.
- ACE: the Automated Commercial Environment, the US system brokers file entries through.
- Denied-party screening: checking counterparties against sanctions and restricted-party lists.
- Duty drawback: a refund of duty paid on imported goods that are later exported.
- Bonded and FTZ: inventory held under customs control where duty is deferred or suspended.
- Landed cost: the full cost of a good delivered, freight, duty, and fees included.
- CBP: US Customs and Border Protection, which administers imports and collects duty.
- Country of origin: where a good is from for tariff and preference purposes; it drives which tariff regime applies.
- ISF (10+2): the importer security filing required before an ocean shipment loads.
- Entry summary (7501): the filing that reports classification, value, origin, and duty on an import.
- Liquidation: CBP’s final determination of duty owed, which closes an entry.
- Incoterms: the standard terms (2020 edition) that set who bears cost and risk and who clears import.
- USMCA: the US-Mexico-Canada free-trade agreement, with rules of origin for duty-free treatment.
Tariffs and duties
- Customs value: the value duties are assessed on, usually the transaction value plus statutory additions.
- Section 301: tariffs on unfair trade practices, imposed by the USTR; the China program is the main example.
- Section 232: tariffs on national-security grounds, originally steel and aluminum, expanded to more goods since.
- AD/CVD: antidumping and countervailing duties on dumped or subsidized goods, specific to order and producer.
- MPF and HMF: the merchandise processing fee (ad valorem, with a floor and cap) and harbor maintenance fee (ocean imports).
- De minimis: the low-value import exemption, historically $800, significantly curtailed in recent US policy.
- Effective duty rate: total duties and fees over total entered value, the blended rate actually paid.
Logistics
- OTIF: on-time in-full, a delivery met in both timing and quantity.
- Demurrage: a charge for keeping a container at the terminal beyond free time.
- Detention: a charge for keeping carrier equipment beyond the agreed window.
- EDI: electronic data interchange, the message standard carriers and partners exchange.
- 3PL: a third-party logistics provider that runs warehousing or transport for others.
Analytics
- Semantic model: the governed layer that defines each KPI once for every report.
- Row-level security: a rule set that limits each viewer to the rows they may see.
- Lineage: the traceable path from a reported number back to its source data.
- Lakehouse: a storage pattern that keeps raw and modeled data in one governed place.
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