Glossary for customs and trade compliance

Definitions for LTSD, origin, CBAM, audit trails, classification, and export controls.

• LTSD: An LTSD is a long-term supplier declaration supporting origin claims across multiple shipments.
• Preferential origin: Preferential origin determines whether goods qualify for preferential treatment under a trade agreement.
• Supplier declaration: A supplier declaration captures the origin information a supplier provides for supplied goods.
• REX: REX refers to registered exporters that may issue origin statements under specific arrangements.
• BOI: BOI refers to a binding origin or information decision that provides legal certainty.
• CBAM: CBAM is the European mechanism linking emissions-related reporting and settlement to imported goods.
• HS classification: HS classification is the assignment of the correct goods code to a product based on characteristics and use.
• Export controls: Export controls cover the rules and checks that determine whether goods, parties, or transactions may be released.
• Audit trail: An audit trail records who did what, based on which source data, and with what decision logic.
• BOM: A BOM is the bill of materials: the structured composition of a product.