In foreign trade terminology, 'About' or 'Circa' is often used with quantity, amount, or time to indicate an allowed margin of error. According to Article 30 of the ICC Uniform Customs and Practice for Documentary Credits (UCP600), if terms such as 'about' or 'approximately' are used in a credit to describe quantity, unit price, or amount, they shall be interpreted as allowing a tolerance not exceeding 10% more or less. Usage scenarios include: letter of credit terms, contract quantity clauses, shipment dates, etc. Note: This term is not used arbitrarily; it must be clear whether UCP600 rules apply; if not stipulated in the contract, disputes may arise. Unlike the 'More or Less Clause', which usually specifies a concrete percentage (e.g., ±5%), 'about' defaults to a 10% tolerance and is vaguer. It is synonymous with 'approximately' or 'circa', but different standards should not be mixed with 'about'. In foreign trade documents, if 'about' is used, banks may accept documents within a 10% more or less tolerance, but the total amount must not exceed the credit amount.
📝 Examples
1. The letter of credit stipulates: About 1000 metric tons of soybeans, shipment from Shanghai to Rotterdam. Actual shipment of 950 tons should be accepted by the bank because it is within the 10% tolerance. (Note: Under UCP600, 'about' allows a 10% reduction; the actual shipment quantity is within the range, and the documents comply.)
2. Contract clause: The seller shall deliver circa 500 cartons of ceramic tiles, with a tolerance of ±5% at buyer's option. Here 'circa' coexists with a specific tolerance; the explicit tolerance should prevail to avoid ambiguity. (Note: When 'about' and an explicit tolerance appear together, the explicit tolerance usually takes precedence, but it should be clarified in the contract to prevent disputes.)
💡 Foreign Trade Tips
Foreign trade terms are the foundation of international business communication
Trade practices may vary slightly by country; pay attention when using them
When using terms in contracts, specify the applicable version (e.g., Incoterms 2020)
For unfamiliar terms, use GlobalSync's multilingual email helper to confirm with your partner