Exemption Legend Law and Legal Definition

Exemption legend means “a notation placed on the bill of lading, air waybill, export shipping instructions, or other commercial loading document that describes the basis for not filing Electronic Export Information for an export transaction. The exemption legend shall reference the number of the section or provision in the Foreign Trade Regulations where the particular exemption is provided.” [15 CFR 30.1; Title 15 -- Commerce And Foreign Trade; Subtitle B -- Regulations Relating To Commerce And Foreign Trade; Chapter I -- Bureau Of The Census, Department Of Commerce; Part 30 -- Foreign Trade Regulations; Subpart A -- General Requirements]