International Trade Vocabulary Masterclass App

📦 International Trade Vocabulary Masterclass

Study key commercial terms, trade documents, logistics terminology, and risk management concepts, then complete the 10-question evaluation.

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📖 Knowledge Sheet: Essential Trade Vocabulary

Use the search box to filter across all 53 key trade terms, official definitions, and business dialogues.

Term	Definition / Trade Meaning	Context Dialogue

✍️ 10-Item Vocabulary & Trade Assessment

Read each trade scenario or question carefully and select the best answer.

1. Which essential trade document serves as both a document of title (proving ownership) and a contract of carriage for ocean transport?

Bill of Lading (B/L) Packing List Certificate of Origin

2. What is the primary difference between a Proforma Invoice and a Commercial Invoice?

A Proforma Invoice is a preliminary estimated invoice used for licenses/financing; a Commercial Invoice is the final legal bill for customs declaration. They are strictly identical and interchangeable for customs duties. A Proforma Invoice is exclusively for air freight, while a Commercial Invoice is for sea freight.

3. An importer in the US purchases furniture from Indonesia under CIF terms. Who is responsible for purchasing the marine transit insurance?

The Indonesian Seller (Exporter) The US Buyer (Importer) The ocean vessel captain

4. Which official document is mandatory to determine the manufacturing country of goods to assess preferential tariff rates?

Certificate of Origin Air Waybill Bulk Price List

5. What is the term for a licensed professional or firm hired to navigate complex customs regulations and clear imported cargo?

Customs Broker Notify Party Stevedore

6. What fee is charged by a shipping line if container cargo is not unloaded from the vessel/terminal within the agreed free time?

Demurrage Tariff Sanction

7. A government imposes an official, complete ban on all commercial trade with a specific foreign nation. This trade barrier is called a(n):

Embargo Incoterm Quotation

8. Which document itemizes package-by-package details such as net/gross weight, dimensions, and carton counts without displaying prices?

Packing List Letter of Credit Purchase Order

9. What secure financial payment mechanism issued by a buyer's bank guarantees payment to the seller upon presentation of matching shipping documents?

Letter of Credit (L/C) Tracking Number Air Waybill (AWB)

10. What is the total time elapsed for cargo to travel from its point of origin to its destination called?

Transit Time Detention Shipping Mark

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