International Trade Finance Terms from TEFO - Z

Z

Zip Code

(USA) A numerical code, established by the U.S. Postal Service, used for the purpose of routing mail and to identify delivery zones. Some foreign countries have a similar system. Carriers often apply this code in the same manner in the handling of freight and the determination of freight charges.

Zone Status

(USA) Merchandise admitted to a U. S. Foreign Trade Zone may be given a special status which affects what may done with it. For example: when entered into the U. S. Customs territory it may be dutiable at rates and values applicable at that time; or it may be given a status which fixes the applicable rates and values at those in effect at the time when it was admitted to the zone; or it may have a status which denies entry to the U.S.A. altogether.

Zone User

(USA) A corporation, partnership or party that uses a U.S. foreign trade zone for storage, handling, processing, or manufacturing merchandise, whether foreign or domestic.