What is Fine Collection?
Fine Collection The process by which customs or regulatory authorities recover monetary penalties assessed for violations of trade, import, or export regulations.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Fine Collection” Used in Practice?
Customs initiated fine collection procedures after the importer failed to pay assessed penalties within the stipulated period.
Certification Exam Relevance
Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
Learn “Fine Collection” Free with Termify
Master Fine Collection and 4,071+ professional terms with native pronunciation, IPA transcriptions and career quizzes. 100% free, forever.
Download Free for iOSFrequently Asked Questions
What is Fine Collection?
The process by which customs or regulatory authorities recover monetary penalties assessed for violations of trade, import, or export regulations.
Where can I learn this term for free?
Termify is a 100% free professional English app that teaches Fine Collection and 4,071+ other industry terms with native pronunciation, IPA transcriptions and career quizzes. Available on iOS in 23 languages. No subscription, no credit card required.
Last updated: