import license
Definition
Permit that allows an importer to bring in a specified quantity of certain goods during a specified period (usually one year). Import licenses are employed (1) as means of restricting outflow of foreign currency to improve a country's balance of payments position; (2) to control entry of dangerous items such as explosives, firearms, and certain substances; or (3) to protect the domestic industry from foreign competition. See also import restrictions.
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import license is in the Banking, Commerce & Finance, Customs Documentation & Procedures and International Trade & Relations subjects.
import license appears in the definitions of the following terms: delivered duty paid (DDP) [named port or place of destination], import restrictions, agreement on import licensing and import quota
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