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Glossary of Trade Terms

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Tare Weight	The actual weight of the container (ULD) when empty.
Tender Bond/Guarantee	A guarantee provided by a company responding to an international invitation to submit bids or tenders (as for a large construction project); the tender bond is submitted along with the tender; the tender bond is required with the purpose of discouraging frivolous bids and ensuring that the winning bidder actually signs and executes the contract.
Tenor (of a bill of exchange)	The period for which a bill is drawn (e.g. Sight, 30 days after date, etc.).
Term of a Forward Exchange	The term of a forward exchange contract, which is the period two business days after the date the contract is written and its maturity date.
Terminal Handling Charge (THC)	Handling charges assessed for services rendered within container terminals or with respect to containers which are processed through terminals. When delivery or pickup of the goods is expected to be at a container terminal,traders are well-advised to stipulate precisely which party will pay for all or part of the terminal handling charges.
TEU	Twenty-foot equivalent units; a means of measuring the carrying capacity of container ships; e.g. a ship can be said to be capable of 3000 TEUs, which is roughly equivalent to saying it could carry 3000 standard (twenty-foot)containers.
THC	Handling charges assessed for services rendered within container terminals or with respect to containers which are processed through terminals. When delivery or pickup of the goods is expected to be at a container terminal,traders are well-advised to stipulate precisely which party will pay for all or part of the terminal handling charges.
Through Bill of Lading	A bill of lading issued to cover transport by at least two successive modes of transport.
Time Draft(time bill)	A financial instrument demanding payment at either: • A future fixed date • A specified period of time (30, 60, 90 days etc.) after either: sight the date of issue. It is also called a usance draft or usance bill.
TIR	TIR Carnets are transport documents used to cover international transport shipments on road vehicles such as trucks/lorries. TIR Carnets, issued pursuant to the 1949 TIR Convention, allow a truck or other vehicle to pass through all TIR-member countries without having to go through customs inspection until reaching the country of destination.
Trade Acceptance	A bill of exchange drawn by the seller/exporter on the purchaser/importer of goods sold, and accepted by such purchaser.
Trade Finance	The term ‘trade finance’ can be described simply as finance for working capital. The main distinguishing feature about trade finance is that it relates to the movement, purchase and/or sale of goods, services and ‘know-how’. It usually pertains to international trade, therefore foreign currencies and exchange risks can be involved.
Tramp Vessel	A ‘freelance’ seagoing cargo vessel, available on a contract basis to carry cargoes to any given port. These are distinguished from liner ships,operating according to advertised routes, schedules and rates.
Transferable Credit	A transferable credit is a credit under which the beneficiary has the right to give instructions to the bank called upon to affect payment or acceptance, or to any bank entitled to effect negotiation, to make the credit available in whole or in part to one or more third parties (second beneficiaries).
Trimming	The operation of shoveling and spreading, within the ship’s hold, dry bulk cargoes such as cement, ore or grains, so as to avoid weight imbalances which might hinder the ship’s handling or unloading.

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Agricultural and Processed Food Products Export Development Authority (APEDA)
(Ministry of Commerce & Industry, Govt. of India)

NCUI Building 3, Siri Institutional Area, August Kranti Marg, New Delhi - 110 016
Phone : 91-11-41486013, 20863919, 20867008, 20867007