Glossary of Terms
Explore a comprehensive glossary of SCZone and trade related terms
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Importer
An individual or company that brings goods from a foreign country into a customs territory.
Exporter
An individual or company that sends goods to another country for sale.
Shipping Agent / Freight Forwarder
An agent who is responsible for handling goods shipped from one country to another including preparing the documentation required for customs to ferry the goods from one country to another by sea, land, or air
Slot Chartered Agent
A shipping agent assigns a slot chartered agent to register the manifest and complete the process on their behalf in cases when the ship is loaded with consignments that belong to many consignees or importers.
Clearing Agent/ Forwarding Agent
The Clearing Agent (operates from the country of Import) and Forwarding Agent (operates from the country of export) works on behalf of importers. Importers authorize clearing agents to clear the goods on the importer’s behalf as they provide services relating to the customs clearance and forwarding operations of goods.
Consignee
A person or company to whom commodities are shipped.
Journey
The journey form includes information on the journey of the shipment or the voyage details such as date of departure, date of arrival of the ship, route, etc.
Manifest
A document that lists the details of the house bills/airway bills issued by a vessel/aircraft or its agent or master, for example, a detailed summary of the total cargo of a vessel/aircraft. Used principally for customs purposes.
House Bills (Bill of Lading) / Airway bills
Each House/Airway bill contains the details of goods identifying the commodity by itself, the weight, volume, etc.
Delivery Order
An order to pick up goods at a named place and deliver them, usually issued by shipping agent to importer. Delivery Order is used for import cargo.
NOC
The necessity for No Objection Certificate (NOC) arises when the shipping agent assigns a slot chartered agent to register the manifest on their behalf or in cases where the house bills are transferred to another agent.
Customs Declaration
The term declaration applies to documents providing the particulars required by the Customs concerning the cargo (freight) carried in a vessel/flight/Truck that is subject to Customs laws and duties.
Tariff
Also called customs duty, it is the tax levied upon goods as they cross national boundaries, usually by the government of the importing country. The words tariff, duty, and customs duty can be used interchangeably.
Harmonized System of Codes (HS Code)
An international goods classification system for describing cargo in international trade under a single commodity-coding scheme. These numbers are typically 6 to 10 digits long. The first 6 digits are standardized worldwide, while additional numbers are used by some governments to further distinguish products in certain categories. The anatomy of an HS Code is: first two digits is the chapter, second two digits is the heading, and final two digits is the sub-heading
ISIC Code
The International Standard Industrial Classification of All Economic Activities (ISIC) is a standard United Nations Statistics Division (UNSD) classification of economic activities arranged so that establishments can be classified according to the activity they carry out.
Incoterms
International terms of trade that clearly define the obligation of the cost, risk and responsibility of the transportation of goods between a buyer and seller
CIF
Abbreviation for "Cost, Insurance, Freight." Cost of goods, marine insurance and all transportation (freight) charges.
Free on Board (FOB)
Free on Board (FOB) shipping means that the supplier retains ownership and responsibility for the goods until they are loaded ‘on board’ a shipping vessel. Once on the ship, all liability transfers to the buyer.
Project
Every project/company located within the geographical territory of the Suez Canal Economic Zone (SCZone), and operates by virtue of law of Economic Zones of a Special Nature according to a license issued by its board of directors.
Industry Project
It is an industrial or assembly projects that are licensed by the SCZone Authority. The license indicates the nature of the manufactured products, and the project carries out transformative or complementary operations.
Project General Headquarter
A location for the management team of the Project/Company, regardless of its legal entity, to conduct their work where meetings are held to take decisions related to managing and operating the Project/Company.
Project Activity Headquarter
It is the main location of the business activity of the project, not an administrative headquarter, provided that the address of this location is to be recorded as the project main headquarter in the project’s commercial registry.
Project Branch in SCZone
It is the project’s location in the SCZone in which the project’s activity is carried out, provided that the project has a main headquarter.
Operation License
It is the license issued for the production and assembly projects by the SCZone Authority to start practicing their activity in the SCZone, stating the specific activity of the project.
License to Practice Service / Logistics Activity
It is the license issued for the service and logistics projects by the SCZone Authority.
Certificate of Origin (COO)
A certificate of origin is a document that verifies the country where the product was produced, manufactured or processed; It serves the purposes of customs clearance, payment management and import tariff concessions. In countries that share a trade agreement, a COO proves to the customs authorities that the goods are eligible for reduced import duties or taxes.
Production Composition Certificate (PCC)
It is a form showing the components of a final product from the raw materials.
Work Order Form
It is a form that shows the number of items produced, and the total raw materials and supplies used in production.
Inbound/Outbound Forms
These are import and export prior approvals forms issued by the SCZone Authority and addressed to the Customs Authority, which indicates the Authority's approval and no objection to the project starting to carry out its customs procedures.
Inventory Balancing Unit
It is one of the SCZone departments that keeps record of all the received and released shipments and the numbers of the payment vouchers on a daily basis for inventory reconciliation and financial settlements of the projects’ balances.
Public Warehouse
The logistics investor leases a public warehouse from the SCZone Authority and stores goods of other SCZone investors in it for a period of one year that can be only extended for the same period under the consent of SCZone Authority.
Private Warehouse
The logistics Investor has a project in the SCZone, which is the private warehouse, and the investor utilizes such private storage area for storing, packing & packaging, sorting, etc.
Private Yard
The industrial investor leases a place for storage purposes outside the production industry project site from the Service Investor. Such place is within the boundaries of the SCZone and shall meet all conditions and controls necessary for storing goods.
Logistics Area
The service investor gets a license from the SCZone Authority to establish a logistic area for different purposes like equipment storage, new cars storage, cars of for the disabled storage, e-Commerce, courier services, marine services, etc.
Surety
A Customs surety is a contract for Financial Guarantee that is used to assure the payments of Import or Export duties and taxes for any transaction processed by the Surety Owner (Trader or Agent).
