Documentary Collection
A method whereby the seller uses the services of his bank to ensure that the buyer only receives the shipping documents under conditions specified by the seller, ie upon payment, or upon acceptance, of the seller's bill of exchange. (see also Bill of Exchange, Cash Against Documents and URC522).

Documentary Credit
The officially correct term for Letter of Credit. The UCP500 only mentions "Documentary Credit" not "Letter of Credit". See also Letter of Credit and UCP500).

Demurrage
Extra charges paid to a carrier when loading and/or unloading has not been completed within the specified time.

Documents against Acceptance (D/A)
see Documentary Collection

Documents against Payment (D/P)
see Documentary Collection

Draft
see Bill of Exchange

Drawee
see Bill of Exchange

Drawer
see Bill of Exchange

Dumping
The practice of selling goods in a foreign market at a price lower than which they would be sold at in the home market, to gain a competitive advantage over other suppliers. If this is shown to be injurious to locally-based suppliers in the foreign market, the government of that country may impose remedies by way of anti-dumping duties.

Duty Drawback
If goods which have been imported, and upon which customs duty has been paid, are exported or have been used in the manufacture of goods which have been exported, then the exporter may be entitled to a refund of the original import duty paid.

EFIC
Export Finance Insurance Corporation. EFIC is a self-funding corporation wholly owned by the Commonwealth Government. EFIC can provide credit insurance on exports of Australian goods, as well as provide medium to long-term finance to buyers of Australian goods. See www.efic.gov.au.

Exchange Rate
The price of one currency in the terms of another.

Export
To send goods from a country to an overseas destination.