PRICIPLES OF BUSINESS

WHAT ARE THE BUSINESS RELATED TERMS?

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  1. ACRONYM DEFINITION
    ARO After Receipt of Order. "ARO" defines time when customer's purchase order is received and entered by the manufacturer. Projection for delivery date begins only ARO.
    BOM Bill of Materials
    Broker One who buys but does not stock product
    C of A Certificate of Analysis. Provided by manufacturer to confirm materials used in the product.
    C of C Certificate of Conformance/Compliance. Provided by manufacturer or supplier confirming product meets specifications.
    C of O Certificate of Origin. Verifies where product was manufactured.
    C of O Certificate of Origin. Verifies where product was manufactured.
    Distributor Company that buys, sells, and stocks products per customer needs, like Prime.
    Drop Shipment Product shipped directly to the customer from the factory.
    F.O.B. Freight-On-Board. Rates are based from starting location or origin.
    Freight Collect Customer pays the freight charges at time product is delivered.
    HTS The Harmonized Tariff Schedule determines the amount of duty owed on shipments of certain materials into China. Required for filling out the shippers Export Declaration for UPS.
    Inter-State Shipping between states.
    Intra-State Shipping within the state.
    MOQ Minimum Order Quantity.
    MSDS Material Safety Data Sheet. This is provided by manufacturer that details materials. Used to produce products and defines any hazardous warnings.
    NCNR Non-Cancelable, Non-Returnable. Products are not eligible for return for credit. Usually NCNR items are custom designs.
    NIST National Institute of Standards and Technology. This references Calibration and Traceability.
    NRE Non-Recurring Engineering Fee. A one-time charge for custom design.
    P & D Price and Delivery request.
    RFQ Request for Quote.
    RMA Return Material Authorization - required before parts may be returned.
    RoHSR Restriction of Hazardous Substances. Compliancy with this standard is now required for products shipped to some foreign countries.
    RP Request for Purchase.
    U/M Unit of measure. Defines the unit of measure; i.e., each, dozen, etc.
    Vendor Supplier of parts - could be a manufacturer, distributor, broker or service-provider.
    WBE Woman-Owned, Business Enterprise

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