Glossary
Plain-language definitions of the industry terms you will encounter when sourcing and importing. Use this glossary as a quick reference while evaluating products and suppliers.
B
- B/L
- B/L — Bill of Lading,Definition Summary: A transport document issued by the carrier acknowledging receipt of cargo for shipment.
C
- C/O
- C/O — Certificate of Origin,Definition Summary: A document certifying the country where goods were manufactured.
- CI
- CI — Commercial Invoice,Definition Summary: The official bill issued by the seller after a sale, used for customs clearance and payment.
- CIF (Cost, Insurance and Freight)
- An Incoterm where the seller pays the cost, insurance, and freight to bring goods to the buyer's destination port.
E
F
- FOB (Free On Board)
- An Incoterm where the seller delivers goods onboard the vessel and the buyer assumes cost and risk from that point.
H
- HS Code
- HS Code — Harmonized System Code,Definition Summary: A standardized international numbering system used to classify traded products.
L
- L/C
- L/C — Letter of Credit,Definition Summary: A bank's guarantee of payment to the seller, conditional on meeting specified document requirements.
M
- MOQ (Minimum Order Quantity)
- The smallest quantity of a product a supplier is willing to produce or sell in a single order.
P
- Performance Data
- Performance Data of our WPC products
- PI
- PI — Proforma Invoice,Definition Summary: A preliminary, non-binding invoice sent by the seller to the buyer before a transaction is finalized, outlining the products, prices, and terms.
- PL
- PL — Packing List,Definition Summary: A document detailing how goods are packed, including weights, dimensions, and carton contents.
- PO
- PO — Purchase Order,Definition Summary: A document issued by the buyer to the seller confirming the intent to purchase specific goods at agreed terms.
T
- T/T
- T/T — Telegraphic Transfer,Definition Summary: An electronic bank-to-bank wire transfer used to pay for goods.