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Brokerage

In shipping, a commission paid to a freight forwarder by a carrier for placing cargo, or a commission or fee paid to a shipbroker for arranging a vessel charter. In insurance, a commission paid by an insurer to an agent…

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Brokerage agreement

A type or contract, whereby a person or company acts as a sales agent on behalf of the exporting company (principal), introducing its products to potential buyers in the external market, in exchange for a commission based on the value…

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Brussels Tariff Nomenclature (BTN)

A once widely used international tariff classification system that preceded the Customs Cooperation Council Nomenclature (CCCN) and Harmonized System Nomenclature (HS). See Harmonized System; H 6-digit.

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