What is PI (Pro forma invoice)

An invoice provided by a seller before the shipment of product, informing the buyer of the types and amounts of products to be shipped, their price, and essential specifications (weight, dimension, etc.).

What is GATT (General Agreement on Tariffs and Trade)

The General Agreements on Tariffs and Trade is a multilateral trade deal among authorities, including obligations and rights. The rules set out in the Arrangement develop a code which the parties to the Agreement have agreed upon to rule their trading associations.

What is (Free Port)

An area which is usually a port and its suburb which products can be imported duty-free or subject to a low cost tariffs.

What is (Excise Tax)

A domestic tax excised on the production, sale or utilizing a product inside a country which is able to refund once the product is exported.

What is VAT (Value Added Tax)

A kind of utilization tax which is placed on a product just as the cost added to the production level and final sale.

What is (Unit Price)

The price of an item which the customer will pay and generally it is excluding the shipping cost.

What is PO (Purchase Order)

The seller sends a document to the customer which contains the agreed terms like approving product order, quantity, shipping cost, etc.

What is MOQ (Minimum Order Quantity)

The least amount of order which the seller can accept as he/she states on the listing. this subject is mostly negotiable.

What is (Quotation)

An offer to sell products with specified cost and under particular condition

What is DDU (Delivered Duty Unpaid)

This indicates the evolution of "door-to-door" courier contracts or carriage where the customer pays the destination customs duty and taxes (if any).