CUSTOMS BROKER Definition

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CUSTOMS BROKER is an individual or firm licensed to process entry and clear goods into the country for another.

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INFLATION ACCOUNTING is a system of accounting which, unlike historical cost accounting, takes into account changing prices.

F.A.S. (FREE ALONG SIDE), e.g. 'F.A.S. New York', means that, for instance, if goods are shipped from the State of Nevada in the U.S. to Madrid, Spain, no charges for shipment are made to the importer until the goods are "free alongside the vessel" in New York. After this point, charges may be applied to the importer.

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