Here is Part “D” of my series, “International Trade Alphabet Soup” that will periodically list and provide context for key acronyms and international trade terms:
DAC – Development Assistance Committee: an international forum consisting of the world’s largest funders of aid, most of them members of the Organization of Economic Cooperation and Development (OECD) – www.oecd.org. The DAC coordinates member country aid policies. The World Bank, the International Monetary Fund (IMF), and the United Nations Development Programme (UNDP) participate as observers.
DAF – Delivered at Frontier: is a term used in international sales contracts which indicates that the seller agrees to deliver goods at an agreed upon destination at the border location of a particular country. The seller’s obligations end once the goods have been cleared for export, usually at the customs border of the receiving country.
DANIDA – Danish International Development Assistance: is agency of the Danish government that directs development assistance toward poverty alleviation, economic growth and social development worldwide.
DDA – Doha Development Agenda: The Doha Development Agenda, also known as the Doha Round, are multilateral trade negotiations being conducted by World Trade Organization (WTO) members aimed at reducing trade barriers in order to assist global economic growth, development, and opportunity.
DDP – Delivered Duty Paid: is a term used in international sales contracts and followed by words naming the buyer’s premises. The seller is responsible for transportation and delivery of goods to the specified location, inclusive of clearing goods during import and paying for duties and taxes.
DDTC – Directorate of Defense Trade Controls: is the agency at the US Department of State that administers licenses for the export of US-made arms, ammunitions and defense services identified on the US Munitions List (USML).
DDU – Delivered Duty Unpaid: is a term used in international sales contracts where the seller is responsible for delivering the goods to the specified location, inclusive of all charges for freight, insurance, and other charges but excluding import duties.
DEQ – Delivered Ex Quay: is a term used in international sales contracts in which the seller is responsible for delivering the goods, cleared for importation, up to the quay at the named port of destination.
DFID – Department for International Development: is the ministerial department that leads the work of the United Kingdom on development issues. Its goal is to promote sustainable development and eliminate world poverty.
DSB – Dispute Settlement Body: of the World Trade Organization (WTO) settles trade disputes between WTO members.
DSU – Dispute Settlement Understanding: is an agreement within the World Trade Organization creating the mechanism for settling trade disputes among its members.
DVC – Delivery Verification Certificate: is a form used to track imported goods from the custody of the importer to the custody of a manufacturer so that it can be used to support a claim for drawback duties (refund of duties paid), typically when the good is being re-exported.
Click here for “Parts A, B, & C ” containing key acronyms and international trade terms beginning with the letters “A”, “B”, & “C”.