Advanced Business Vocabulary

International Trade Terms Matching

For each gap, write the number of the correct definition.

  1. FOB
  2. Certificate of Origin
  3. CIF
  4. Letter of Credit
  5. Pro Forma Invoice
  6. Bill of Lading
  7. Quota
  8. Trade Agreement

1. An agreement between countries setting out the rules for trade between them.

2. It's a bank guarantee that ensures the seller will be paid by the buyer's bank upon delivery of goods.

3. It's a document that certifies the country in which the goods were manufactured.

4. It's the official document issued by the carrier, listing the goods being shipped.

5. This includes the cost of goods, insurance, and freight in the price quoted to the buyer.

6. This limits the number or value of goods that can be imported over a set period.

7. This preliminary bill is sent to the buyer before the goods are shipped.

8. This term means the seller covers the cost of getting the goods on the ship, after which the buyer takes responsibility.

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