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Glossary

Trade terms and XORA GLOBE service names, in plain words.

Short definitions of the terms buyers and exporters meet most often, and of the names XORA GLOBE uses for its services. Guide by XORA GLOBE, Cairo.

XORA GLOBE service names

XPORTEX
XPORTEX is XORA GLOBE's trade pillar. It connects buyers in Africa and the Gulf with verified Egyptian manufacturers, and helps those manufacturers export.
XDEVELOPMENT
XDEVELOPMENT is XORA GLOBE's digital and advisory pillar. It covers websites, e-commerce, SEO, mobile apps and branding for businesses that want to grow.
XTRADE
XTRADE is XORA GLOBE's domestic trade pillar. It is launching soon.
XSOURCE
XSOURCE is XORA GLOBE's free sourcing request service. A buyer describes what they need, and XORA GLOBE matches it to verified Egyptian manufacturers. There is no commitment.
XPROCURE
XPROCURE is XORA GLOBE's outsourced procurement office in Egypt. A dedicated trade manager sources, verifies and manages suppliers on the buyer's behalf.
XVISIT
XVISIT is XORA GLOBE's sourcing trip service. It organises factory visits in Egypt, pre-arranged meetings and the logistics of the trip.
XPLORE
XPLORE is XORA GLOBE's export readiness assessment for manufacturers. It shows where a company stands today and what it needs to be ready to export.
XSTUDY
XSTUDY is XORA GLOBE's market intelligence service. It is a study of one target market: demand, competitors, regulations and a way to enter.
XMATCH
XMATCH is XORA GLOBE's buyer matching service. It introduces a manufacturer to qualified buyers for its products.
XDEAL
XDEAL is XORA GLOBE's deal management service. It supports a manufacturer through negotiation, documents and logistics until the order ships.
XGROW
XGROW is XORA GLOBE's ongoing export growth service. It provides continuous outreach to buyers and builds a pipeline of export opportunities month after month.
XELITE
XELITE is XORA GLOBE's dedicated export department service. A dedicated team runs an exclusive export growth plan for the manufacturer.

Common trade terms

Incoterms
Incoterms are standard trade terms published by the International Chamber of Commerce. Each term says who, the seller or the buyer, pays for transport, insurance and customs, and at what point the risk passes from one to the other. The current edition is Incoterms 2020.
EXW (Ex Works)
Under EXW the seller makes the goods available at its own premises. The buyer arranges and pays for everything from there: loading, export clearance, transport, insurance and import. It places the most responsibility on the buyer.
FOB (Free On Board)
Under FOB the seller clears the goods for export and loads them on the ship at the named port of shipment. Risk passes to the buyer once the goods are on board. The buyer pays the sea freight and insurance. FOB is for sea and inland waterway transport only.
CFR (Cost and Freight)
Under CFR the seller pays the sea freight to the named port of destination. Risk still passes to the buyer once the goods are on board at the port of shipment. Insurance is the buyer's choice and cost.
CIF (Cost, Insurance and Freight)
CIF is the same as CFR, with one addition: the seller also buys insurance for the sea journey. The rule requires only minimum cover, so buyers often ask for more. Risk passes to the buyer once the goods are on board at the port of shipment.
DAP (Delivered At Place)
Under DAP the seller delivers the goods to a named place in the buyer's country, ready to be unloaded. The seller carries the cost and risk of transport up to that place. The buyer handles import clearance, duties and taxes.
Letter of credit (L/C)
A letter of credit is a bank's written promise to pay the seller, on the buyer's behalf, once the seller presents the documents named in the credit. It protects both sides: the seller knows payment is secured, and the buyer knows payment is made only against the agreed documents.
Certificate of origin
A certificate of origin is a document that states the country where the goods were made. Customs use it to decide which duty applies, including any reduced duty under a trade agreement.
HS code
An HS code is the number that classifies a product for customs. The first six digits come from the Harmonized System of the World Customs Organization and are the same in most countries. Each country then adds its own digits.
MOQ (minimum order quantity)
The MOQ is the smallest quantity a manufacturer will accept for one order. It is often set per product, size or colour, and for export it is commonly expressed in pallets or containers.
Pro forma invoice
A pro forma invoice is a preliminary invoice the seller sends before the order is confirmed. It sets out the goods, quantities, terms and delivery details so the buyer can approve the order, arrange payment or apply for an import permit.
Bill of lading (B/L)
A bill of lading is the document the shipping line issues when it takes the goods on board. It is a receipt for the goods, evidence of the transport contract, and the document the buyer needs to collect the goods at destination.
Packing list
A packing list describes how the shipment is packed: the number of packages, what is in each one, and the weights and dimensions. Customs, the carrier and the warehouse all use it to check the goods.
Landed cost
Landed cost is the total cost of a product once it has arrived at the buyer's door. It adds freight, insurance, customs duties, taxes and handling to the price of the goods. It is the figure to use when comparing offers from different origins.
Pre-shipment inspection
A pre-shipment inspection is a check of the goods before they leave the factory or the port. An inspector compares quantity, quality, packing and marking with the order. Some importing countries require it by law.
Sourcing agent
A sourcing agent is a person or company that finds suppliers on a buyer's behalf in another country. A sourcing agent typically identifies manufacturers, checks them, compares offers and follows the order until it ships. XORA GLOBE does this for buyers in Africa and the Gulf through XSOURCE.
AfCFTA
AfCFTA is the African Continental Free Trade Area, a trade agreement between African Union member states. Its aim is to reduce duties on goods traded between African countries. Egypt is a member.
COMESA
COMESA is the Common Market for Eastern and Southern Africa, a regional trade bloc of African states with its own free trade area. Egypt is a member.
GAFTA
GAFTA is the Greater Arab Free Trade Area, a trade agreement between member states of the Arab League. Egypt is a member.

These definitions are a general guide, not legal advice. The Incoterms® rules are published by the International Chamber of Commerce; always check the current official text for your contract.

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