Glossary of Customs and Trade Terms

O

OECD	Organization of Economic Cooperation and Development, headquartered in Paris with membership consisting of the world's developed nations.
OEM	Original Equipment Manufacturer
On board	A notion made on a Bill of Lading indicating that the goods have been loaded on a vessel or shipped on the vessel named on the B/L.
On deck	A notion made on a Bill of Lading indicating that the goods have been loaded on the deck of the vessel named on the B/L.
OPEC	Organisation of Petroleum Exporting Countries. OPEC oil production and pricing of member that include Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates & Venezuela.
Operational response	This relates to the initiation of an activity, which requires the mobilisation or deployment of resources against a perceived risk or threat. Operations can involve targeted surveillance, search or containment of risk craft, together with searching of persons associated with that craft.
Origin, country of	The country in which the goods have been produced or manufactured, according to the criteria laid down for the purposes of application of the Customs tariff, of quantitative restrictions or of any other measure related to trade. (Annex K, Kyoto Convention)
Origin, declaration of	An appropriate statement as to the origin of the goods made, in connection with their exportation, by the manufacturer, producer, supplier, exporter or other competent person on the commercial invoice or any other document relating to the goods. (WCO)
Origin, rules of	The specific provisions, developed from principles established by national legislation or international agreements (‘origin criteria’), applied by a country to determine the origin of goods. (Annex K, Kyoto Convention)
Outsourcing	Purchasing services from outside of the company rather than providing them in-house.