Banned and restricted goods
Restricted goods require a licence or certificate before they can be imported into, or exported from the UK whereas banned goods cannot be imported even under licence.


Basic products
In the Common Agricultural Policy (CAP), a product of the soil, of stock farming and of fisheries, shown in Annex I to the Treaty of Rome. The term also covers goods which are the result of first stage processing of certain basic products.
BERR (Department for Business, Enterprise and Regulatory Reform)
Government department that works to create the conditions for business success and help the UK respond to the challenge of globalisation.


Bill of exchange
Written document in which a supplier is guaranteed payment of a specified amount by a drawee. The drawee is generally the customer, but is likely to be the customer's bank if the bill of exchange is used with a term letter of credit. The bill can request immediate payment ("at sight" or "on demand"). It can specify payment at a later date ("the term"). Drawees become legally liable for payment once they accept (agree to pay) the bill.


Bill of lading (B/L)
Document generally issued by a carrier which acts as a receipt for goods received for carriage. In addition it provides evidence of the terms of contract between a shipper and a transport company under which goods are moved between specified places for a specified charge. A bill of lading can also act as a transferable document of title to goods -meaning goods can be bought and sold simply by exchange of the bill.
Binding European retrieval of Tariff information (BERTI)
The correspondence handling and management system used by the Tariff Classification Service. It is used to produce binding Tariff information classification decisions for issue to importers and exporters and liability rulings for issue to Customs staff.


Binding Tariff information (BTI)
System for implementing the Common Customs Tariff. The information is issued to economic operators by the customs authorities of the European Union (EU) member states. Thus, traders will know, in advance, the tariff classification of the goods they intend to import or export. This information is introduced into a database run by the European Commission (EC) and is legally valid in all member states, regardless of the member state which issued it.


Bond
A written promise to repay a debt at an agreed time and to pay an agreed rate of interest -issued by governments, companies, banks etc. Interest rates may be variable or fixed.


Bonded warehouse
A place approved by HM Revenue & Customs (HMRC) for the deposit, keeping and securing of goods liable to excise duty, without payment of that duty. This term is often applied to a Customs warehouse -incorrectly, since no bond is usually required for these.


Border inspection post (BIP)
Control point at the place of importation into the European Union (EU) where products of animal
origin (POAO) and live animals are subject to the veterinary checks regime.


British Chamber of Commerce (BCC)
An organisation comprising a national network of local chambers of commerce spread throughout the UK. There are also a number of British chambers of commerce in other countries. Chambers of commerce provide a range of business services for members.


British International Freight Association (BIFA)
Body representing the UK international freight services industry. British International Freight Association (BIFA) can provide you with a list of freight forwarders and customs clearing agents.


Bureau
A third party providing a service to National Export System (NES) authorised traders to act as their direct representative for the submission of pre-shipment and supplementary declarations.