United States Principal Party of Interest - the party that receives the primary benefit from an export transaction, usually the seller of the goods.


Related Terms

EXPORT LICENSE

A government document which permits the 'Licensee' to engage in the export of designated goods to certain destinations.

FOB VESSEL

Seller is responsible for goods and preparation of export documentation until actually placed aboard the vessel.

HS

Harmonized System of Codes - an international goods classification system for describing cargo in international trade under a single commoditycoding scheme. Developed under the auspices of the Customs Cooperations Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings. It is organized into 99 chapters arranged in 22 sections. Sections encompass an industry (e.g., Section XI, Textiles and Textile Articles); chapters encompass the various materials and products of the industry (e.g., Chapter 50, Silk; Chapter 55, Manmade Staple Fibers; Chapter 57, Carpets). The basic code contains fourdigit headings and sixdigit subheadings. Many countries add digits for Customs tariff and statistical purposes. In the United States, duty rates will be the eightdigit level; statistical suf xes will be at the tendigit level. The Harmonized System (HS) is the current U.S. tariff schedule (TSUSA) for imports and is the basis for the tendigit Schedule B export code.

EXPORT

Shipment of goods to a foreign country.

LANDING CERTIFICATE

Certificate issued by consular officials of some importing countries at the point or place of export when the subject goods are exported under bond.

LICENSES

1) Some governments require certain commodities to be licensed prior to exportation or importation. Clauses attesting to compliance are often required on the B/L. 2) Various types issued for export (general, validated) and import as mandated by government(s).

SED

U.S. Commerce Department document, 'Shipper's Export Declaration.'

SHIPPER'S EXPORT DECLARATION SED, 'EX DEC'

A joint Bureau of the Census' International Trade Administration form used for compiling U.S. exports. It is completed by a shipper and shows the value, weight, destination, etc., of export shipments as well as Schedule B commodity code.

VALIDATED EXPORT LICENSE

A document issued by the U.S. government; authorizes the export of commodities for which written authorization is required by law.

UNITED STATES PRINCIPAL PARTY OF INTEREST

(USPPI) - the party that receives the primary benefit from an export transaction, usually the seller of the goods.

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