Trade Glossary.

Agricultural and Processed Food Products Export Development Authority. The statutory body under India's Ministry of Commerce that regulates and promotes the export of scheduled agricultural products. APEDA registration is mandatory for Indian entities exporting pulses, spices, and other scheduled commodities.

Acceptable Quality Level. A statistical sampling-based inspection standard defining the maximum acceptable percentage of defective units in a lot. AQL 2.5 means no more than 2.5% of sampled units may be defective. AQL 1.0 is stricter — used for critical defects like contamination. BillionBird inspects all lots to AQL 2.5 general and AQL 1.0 critical.

A legal document filed by a customs broker with the destination country's customs authority on import. Used to declare the nature, quantity, and value of goods. Required for customs clearance and duty computation at the destination port.

A legal document issued by the shipping carrier. Serves three functions: receipt of goods, contract of carriage, and document of title. The Original BL is required to release cargo at the destination port. Included as Document 01 in the BillionBird 8-document package.

A document issued by an accredited third-party inspection body (SGS or Intertek) certifying the quality parameters of a commodity lot — purity, moisture, admixture, and for spices: aflatoxin and pesticide residues. BillionBird commissions a COA on every lot exported.

A document certifying that the goods originated in the stated country. For Indian exports, issued by APEDA, EIC, or Chamber of Commerce. Required by GCC countries for import clearance and FTA preferential duty rate application.

Cost, Insurance, and Freight. An Incoterm where the seller pays the cost of goods, marine insurance, and freight to the named destination port. Risk transfers to the buyer when goods are loaded at the port of origin.

Cost and Freight. An Incoterm where the seller pays cost and freight to the destination port, but marine insurance is arranged by the buyer. Similar to CIF but without seller-arranged insurance.

Delivered Duty Paid. The maximum obligation Incoterm for the seller. The seller delivers to the buyer's specified destination having paid all duties, taxes, and customs clearance costs.

Directorate General of Foreign Trade. The Indian government body under the Ministry of Commerce responsible for issuing Import Export Codes (IEC) and administering the Foreign Trade Policy.

Full Container Load. A shipping arrangement where the entire container is used by a single shipper. A 20ft FCL holds approximately 18–20 MT of pulses. A 40ft FCL holds approximately 26–28 MT.

Free on Board. An Incoterm where the seller delivers goods loaded onto the buyer's nominated vessel at the named port of shipment. Risk and cost transfer to the buyer once goods are on board.

Food Safety and Standards Authority of India. The statutory body regulating food safety standards. FSSAI licence is mandatory for food processing businesses operating in India.

A document certifying that the cargo was treated with a fumigant (typically methyl bromide or phosphine) to eliminate pests. Required by virtually all destination countries for pulse and spice imports.

Harmonised System Code. A standardised numerical classification system maintained by the World Customs Organisation (WCO) used to classify goods for customs and tariff purposes. Recognised in 200+ countries. Misclassification leads to incorrect duty assessment and potential shipment holds.

Import Export Code. A 10-digit identifier issued by DGFT to all entities engaged in import or export from India. Mandatory for all export transactions. Referenced on all export documents.

Letter of Credit. A financial instrument issued by the buyer's bank guaranteeing payment to the seller once specified shipping documents are presented. BillionBird accepts LC at sight and LC with usance terms.

Maximum Residue Level. The maximum permissible concentration of pesticide residues in food commodities. All BillionBird spice exports are tested for MRL compliance as part of the SGS/Intertek COA.

An official document issued by India's National Plant Protection Organisation (NPPO) certifying that a commodity is free from pests and diseases. Required by all destination countries for plant-based commodity imports.

The two world's largest commodity inspection and testing organisations. Their COA is accepted by customs authorities in GCC, South Asian, African, and European markets. BillionBird commissions inspection on every lot exported.

An optical sorting technology used in commodity processing. High-speed cameras and air jets remove discoloured, damaged, or contaminated grains. All BillionBird commodities pass through Sortex cleaning as part of the processing protocol.

Telegraphic Transfer. A wire transfer method used for international payment. Typically structured as a percentage advance at order confirmation and the balance against presentation of shipping documents.