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Glossary

A B C D E H I L M O P R S U W

Offshore Trade in Goods

Offshore trade in goods covers "merchanting" and "merchandising for offshore transactions" provided by establishments operating in Hong Kong. The goods involved in offshore trade activities are shipped directly from a party outside Hong Kong to another party outside Hong Kong without the goods passing through Hong Kong.

Open Account

A mode of payment whereby a seller ships the goods and all the necessary shipping and commercial documents directly to a buyer who agrees to settle the payment at a future date.