Glossary

A complete glossary of terms for international trade on Exporting and Importing.
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Quotas (Import)

The Import Quotas system allows the import of limited amounts of goods at a rate of duty lower than would otherwise apply. Quotas apply to certain goods from particular countries - so they are very specific.

Quotation

A quotation is an indication of the price at which the seller is prepared to sell and should state, as well as the goods and price, which Incoterm®2010 will be used in the delivery of the goods and the expected payment method and Payment terms.