Letter of credit
Banking mechanism that allows importers to offer secure terms to exporters.
Licence
A paper or electronic document issued by the competent authority, authorising and requiring the import or export of the goods specified and/or imposing other special requirements as necessary.
Load list
A list of goods intended for export also providing their destination.
Loading list
A commercial document which may be used when more than one item is being shipped. It may be used instead of continuation sheets to supplement single administrative document or community transit documents.
Loading pass
A document for the purpose of obtaining authority to load local export control goods boarding a ship or aircraft, after they have been removed from the trader's approved premises.
Local clearance
Entry of imported goods into commercial records at designated premises away from the frontier.
Local clearance procedure (LCP)
A simplified procedure involving pre-shipment notification to the Customs Handling of Import and Export Freight (CHIEF) system, and entry in commercial records. A subsequent submission of a supplementary declaration to CHIEF is required within a specified period.
Local export control (LEC)
Allows exporters and freight forwarders who regularly export goods, to have their consignments cleared at their own inland premises without having to present normal pre-shipment documents at the UK port of loading/office of exit.