Glossary of International Trade Terms
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Gg
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| Gang |
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A group of stevedores under a supervisor who are assigned to load or unload a portion of a vessel. |
| Gangway |
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The opening through which a ship is boarded.
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| Gantry Crane |
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A specialized machine for the raising or lowering of cargo mounted on a structure spanning an open space on a ship. |
| Gateway |
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A major airport or seaport; or the port where customs clearance takes place; or a point at which freight moving from one territory to another is interchanged between transportation lines. |
| GATT |
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General Agreement on Tariffs and Trade. |
| Geisha Bond |
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Bond issued on the Japanese market in currencies other than yen. |
| General Agreement On Tariffs And Trade (GATT) |
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Both a multilateral trade agreement aimed at expanding international trade and the organization which oversees the agreement. The main goals of GATT are to liberalize world trade and place it on a secure basis thereby contributing to economic growth and development and the welfare of the world's people. |
| General Average |
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A loss that affects all cargo interests on board a vessel as well as the ship herself. |
| General Cargo Rate |
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The rate a carrier charges for the shipment of cargo which does not have a special class rate or commodity rate. |
| General Cargo Vessels |
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A vessel designed to handle breakbulk cargo such as bags, cartons, cases, crates and drums, either individually or in unitized or palletized loads. |
| General Commodity Rate |
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A freight rate applicable to all commodities except those for which specific rates have been filed. |
| General Imports |
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The total physical arrivals of merchandise from foreign countries, whether such merchandise enters consumption channels immediately or is entered into bonded warehouses or Foreign Trade Zones under U.S. Customs custody. |
| General Liability |
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Unlimited responsibility for an obligation, such as payment of debts of a business. |
| General License |
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Authorized licenses by the U.S. Bureau of Export Administration that permit the export of non-strategic goods to specified countries without the need for a validated license. |
| General Order |
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Merchandise not entered within 5 working days after arrival of the carrier and stored at the expense of the importer. |
| General Order Warehouse |
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Warehouse where customs sends merchandise that has not been claimed within 5 days of arrival. |
| General Partnership |
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A partnership where all partners have joint ownership and liability. |
| General Tariff |
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A tariff that applies to countries that do not enjoy either preferential or most favored nation tariff treatment. |
| Generalized System of Preferences (GSP) |
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A program providing for free rates of duty for merchandise from beneficiary developing independent countries and territories to encourage their economic growth. |
| GITS |
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Government Information Technology Services Working Groups. |
| Global Bond |
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A bond that can be traded immediately in any United States capital market and in the Euromarket. |
| Global Quota |
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A quota on the total imports of a product from all countries. |
| Gold Exchange Standard |
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An international monetary agreement according to which money consists of fiat national currencies that can be converted into gold at established price ratios. |
| Gold Reserves |
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Gold, retained by a nation's monetary agency, forming the backing of currency that the nation has issued. |
| Gold Standard |
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A monetary agreement whereby all national currencies 100 percent by gold and the gold is utilized for payments of foreign activity. |
| Gondola Car |
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An open railway car with sides and ends, used principally for hauling coal, sand, etc. |
| Goods |
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Merchandise, supplies, raw materials, and completed products. |
| Grantee |
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A corporation to which the privilege of establishing, operating, or maintaining a foreign trade zone has been given. |
| Green Card |
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An identity card (visa) issued by the U.S. Immigration and Naturalization Service entitling a foreign national to enter and reside in the United States as a permanent resident. |
| Grey List |
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A list of disreputable end users in nations of concern for missile proliferation from the U.S. intelligence community. |
| Grid |
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Fixed margin within which exchange rates are allowed to fluctuate. |
| Gross |
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12 dozen or 144 articles. |
| Gross Domestic Product |
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A measure of the market value of all goods and services produced within the boundaries of a nation. |
| Gross National Product |
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A measure of the market value of all goods and services produced by the labor and property of a nation. |
| Gross Weight |
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The full weight of a shipment, including goods and packaging. |
