duties is deferred until the goods are cleared and
removed.
Breakbulk cargo: Loose cargo that is loaded directly into
a conveyance’s hold.
Bretton Woods Conference: A meeting under the aus-
pices of the United Nations at Bretton Woods, New
Hampshire, in 1944, that was held to develop some de-
gree of cooperation in matters of international trade and
payments and to devise a satisfactory international mon-
etary system to be in operation after World War II. The
particular objectives intended were stable exchange rates
and convertibility of currencies for the development of
multilateral trade. The Bretton Woods Conference estab-
lished the International Monetary Fund and the World
Bank.
Bunker Adjustment Fee (BAF): Fuel surcharge issued by a
steamship line.
Bureau of Industry and Security (BIS): Department of
Commerce agency responsible for Export Administration
Regulations, formerly known as Bureau of Export
Administration.
Carnet: A customs document permitting the holder to
carry or send merchandise temporarily into certain foreign
countries without paying duties or posting bonds.
Certificate of Origin: Document used to certify the coun-
try of origin for a product.
Clingage: When shipping bulk liquids, the residue re-
maining inside the conveyance after discharge.
Combi: An aircraft with pallet or container capacity on its
main deck and belly holds.
Commission agent: An individual, company, or govern-
ment agent that serves as the buyer of overseas goods on
behalf of another buyer.
Commodity specialist: An official authorized by the U.S.
Department of the Treasury to determine proper tariff and
value of imported goods.
GLOSSARY 217

Get Global Sourcing Logistics: How to Manage Risk and Gain Competitive Advantage in a Worldwide Marketplace now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.