Related Entries of the International Encyclopedia:

1. Acceptance House A nonbank financial institution that specializes in acceptance financing (read this and related legal terms for further details).......
2. Financial Accounting Standards Board Statement No 8 A far-reaching and controversial pronouncement by the Financial Accounting Standards Board governing accounting practices used by American firms in transactions involving foreign currencies. The pronouncement, known commonly as FASB 8, came into effect for fiscal years beginning January 1, 1976. Am......
3. Federation Of American Controlled Shipping An association of American firms that operate Liberian- and Panamanian-registered tankers, bulk carriers, and specialized vessels. Currently, federation member firms control over forty-three million deadweight tons of foreign shipping. In addition, federation members control approximately one-half t......
4. Yo-Yo Effect A condition that arises under the rules of Financial Accounting Standards Board Statement No. 8 (read this and related legal terms for further details) when a foreign company's total monetary assets differ from its t......
5. Prime Banker's Acceptance An acceptance (read this and related legal terms for further details) of a major, highly regarded commercial bank that is actively engaged in acceptance financing. The term prime is a mark of distinction over the accepta......
6. Managerial Accouting ContentsManagerial AccoutingMore Accounting EntriesSpecialized AccountingFinancial ReportingAccounting PrinciplesThe Balance SheetThe Income StatementRegulations and Standards in the United StatesSee Also Managerial Accouting ... Read more...
7. Nonprivileged Foreign Status The condition of imported merchandise entered into a Foreign Trade Zone (read this and related legal terms for further details), other than goods that have been granted privileged foreign status (...
8. Foreign Trade Antitrust Improvements Act A 1982 act of Congress, constituting Title IV of the export trading company act (read this and related legal terms for further details), which amends the Sherman Act and Federal Trade Commission Act to clarify their inap......
9. Clean Acceptance A formal acknowledgment by a principal in negotiations for the charter of a vessel that he accepts the offer submitted to him, without further modification, and that he binds himself to execute the charter PARTY (read this a......
10. Ocean Freight Differential A sum rep resenting the difference in freight costs associated with moving subsidized agricultural exports on American rather than cheaper foreign vessels. The differential is provided for shipments under the Agricultural Trade Development And Assistance Act (...
11. Offer Summary of Offer In vessel charter transactions, synonymous with Firm Offer (read this and related legal terms for further details).(Main Author: William J. Miller) Best and Final Offer (BFO) in International Trade Meaning of Best and Final Offer (bfo), according to the [...]...
12. Financial Accounting Financial accounting includes information disseminated to parties that are not part of the enterprise proper—stockholders, creditors, customers, suppliers, regulatory commissions, financial analysts, and trade associations—although the information is also of interest to the [...]...
13. Financial Accounting Standards Board Statement No 52 A set of accounting rules governing offshore and multicurrency transactions, adopted in 1981 and mandatory for use by December 15, 1984. FASB 52 replaces Financial Accounting Standards Board Statement No. 8 (read this and re......
14. Income Taxation ContentsIncome TaxationIncome Taxation as a Specialized Area of AccountingMore Accounting EntriesFinancial ReportingAccounting PrinciplesThe Balance SheetThe Income StatementRegulations and Standards in ... Read more...
15. Banking And Financing Controlled Foreign Corporation A controlled foreign corporation within the meaning of the Internal Revenue Code, that derives more than 50 percent of its gross income from retail or commercial banking, negotiable paper transactions, or investment banking.......
16. Income Statement ContentsThe Income StatementMore Accounting EntriesSpecialized AccountingFinancial ReportingAccounting PrinciplesThe Balance SheetRegulations and Standards in the United StatesSee Also The Income Statement ... Read more...
17. Cooley Loans Foreign-currency-denominated loans by the U.S. government to foreign nations to permit the purchase of American agricultural commodities. The loans are authorized by an amendment to the Agricultural Trade Development and Assistance Act (...
18. Tacit Acceptance A mechanism employed by the International Maritime Organization (read this and related legal terms for further details) to facilitate adoption of technical agreements among member states. Generally, international convent......
19. Export-Import Bank Of The United States Commonly known as Eximbank, an independent, self-funding agency of the U.S. government created to facilitate exports of American products. Originally chartered under the laws of the District of Columbia in 1934, Eximbank was rechartered by an act of Congress in 1945. The bank provides short-, medium......
20. Nonprivileged Domestic Status The condition of merchandise of U.S. origin entered into a foreign trade zone (read this and related legal terms for further details), other than goods that have been granted privileged domestic STATUS (...
21. Reply Time A specified period of time during which an offer to charter a vessel remains valid. If the offering principal receives a clean acceptance (read this and related legal terms for further details) from his counterpart withi......
22. Balance Sheet The Balance Sheet Of the two traditional types of financial statements, the balance sheet relates to an entity's position, and the income statement relates to its activity. The balance sheet provides information about an organization's assets, liabilities, and owners' equity as of a [...]...
23. Visby Amendment A proposed revision to the Hague Agreement (read this and related legal terms for further details) of 1924 on the liability of ocean carriers for loss and damage to cargo. The Visby Amendment does not contemplate materia......
24. Tramp A vessel that offers nonscheduled service between such ports as afford cargoes of opportunity. Unlike a Liner (read this and related legal terms for further details), a tramp seeks to acquire a full load from one shipper......
25. Carnation Case A suit in which the U.S. Tax Court denied, for income tax purposes, the deduction of sums paid by the Carnation Company to its wholly owned Captive insurance company (read this and related legal terms for further details......
26. Exempted Company A company exempted from income taxes of the jurisdiction in which it is organized in return for a stipulation by the company that it will not trade in that country.......
27. Gold Tranche Position A drawing of foreign exchange from the international monetary FUND (read this and related legal terms for further details), by a member nation up to or equal with that country's gold on deposit with the IMF. In effec......
28. Green Clause A provision in a letter OF CREDIT (read this and related legal terms for further details) similar to a RED CLAUSE (read this and related legal t......
29. International Reserves Gold, hard currencies, and special drawing rights (read this and related legal terms for further details) issued by the international monetary fund (...
30. Corporation Sociedad Anónima (s.a.) in International Trade Meaning of Sociedad Anónima (s.a.), according to the Dictionary of International Trade (Global Negotiator): In Spain, México and Latin America designation for a joint stock company with limited personal to shareholders. See [...]...
31. Captive Insurance Company A subsidiary formed to insure the risks of its noninsurance parent or affiliated companies. The captive may also reinsure risks that have been placed with third- party insurers, all or a portion of which have been transferred subsequently to the captive; in this arrangement, the unrelated insurer is......
32. Financial Reporting Traditionally, the function of financial reporting was to provide proprietors with information about the companies that they owned and operated. Once the delegation of managerial responsibilities to hired personnel became a common practice, financial reporting began to focus on stewardship, [...]...
33. Trade Acceptance Summary of Trade Acceptance Cross-reference: Acceptance.(Main Author: William J. Miller) Trade Acceptance in International Trade Meaning of Trade Acceptance, according to the Dictionary of International Trade (Global Negotiator): A bill of exchange drawn by the exporter/seller on [...]...
34. Trade Act Of 1974 An act that provided the president the negotiating authority essential to participate in the Tokyo Round (read this and related legal terms for further details) of tariff reductions. The act empowered the president to re......
35. Unilinear Tariff Synonymous with general TARIFF (read this and related legal terms for further details). Union D'Assureurs Des Credits Inter- Nationaux. The full, formal name of the Berne Union (...
36. Coastwise Option A provision of the carriage OF GOODS BY SEA ACT (read this and related legal terms for further details) (COGSA) which permits COGSA to be incorporated into bills of lading covering shipments in the domestic maritime comm......
37. Domestication The process whereby foreign investors are forced, by governmental sanction, to relinquish their control or interest in local enterprises to local nationals. The term can be applied to an Expropriation (read this and related ......
38. Pivot Charge The minimum charge imposed by an air carrier for the use of a Unit Load Device (read this and related legal terms for further details), or air container. The charge is based upon a Pivot Weight (...
39. Sight Draft Endorsement A provision in a contract of marine insurance designed to protect an exporter while his merchandise lies in a foreign port awaiting acceptance (read this and related legal terms for further details) of drafts by the impo......
40. Gross Terms Synonymous with Gross Charter (read this and related legal terms for further details).......
41. Safeguard Measures Actions taken by a nation to protect its domestic industry and commerce from what it views as unfair or improper practices by a trading partner. For example, a trading partner's use of improper subsidies designed to artificially stimulate exports might result in such safeguard measures as the im......
42. Zone Restricted Status A condition accorded to goods entered into a Foreign Trade Zone (read this and related legal terms for further details) solely for destruction or exportation to another country. These goods may not be manipulated or proc......
43. Berth No Berth A stipulation that may be included in a vessel charter party (read this and related legal terms for further details) providing that if the point of loading or discharge is a berth, and if the berth is not immediately ava......
44. Trade Agreements Act Of 1979 An act of Congress implementing certain agreements negotiated under the Tokyo Round (read this and related legal terms for further details). The act replaced the Countervailing Duty Law and Antidumping Act of 1921 and ab......
45. Customs Territory The geographical area of a country, its possessions, and surrounding waters within which the customs authority is empowered to impose duties and controls upon foreign merchandise entering therein. The customs territory need not necessarily incorporate all the territory over which a nation [...]...
46. Guest Currency The currency in which a Eurobond (read this and related legal terms for further details) or other financial obligation is issued. The currency is selected to be acceptable to both the foreign borrower and the lender, and......
47. Berth A stipulation in a vessel charter party (read this and related legal terms for further details) that laytime ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms ......
48. Column 2 Rate The rate of duty applied by U.S. Customs to imports from nations not enjoying Most Favored Nation (read this and related legal terms for further details) status. The Column 2 rate is the statutory rate of duty provided i......
49. Foreign Sales Corporation Act A component of the Tax Reform Act of 1984, which permits formation of Foreign Sales Corporations (FSC, pronounced "fisk") as a tax incentive to American exporters, and revises tax treatment of income earned by Domestic International Sales Corporations (...
50. Net Register Ton Synonymous with net ton (read this and related legal terms for further details).......
51. Trade Cycle The British equivalent term for the U.S. term business cycle (read this and related legal terms for further details).......
52. Collective Reserve Unit An artificial currency unit proposed in 1965 by Valéry Giscard d'Estaing of France. The cru, as it was known, was to have been linked to gold to create international reserves. The GROUP OF ten (read this and relat......
53. Net Capacity Synonymous with deadweight Tonnage (read this and related legal terms for further details).......
54. Poultry War Synonymous with Chicken War (read this and related legal terms for further details).......
55. Quayage Synonymous with Quay Dues (read this and related legal terms for further details).......
56. Reconstitution A regulation of the International Monetary Fund (read this and related legal terms for further details) relating to the use of Special Drawing Rights (...
57. Regulation A A pronouncement of the Federal Reserve Board (12 CFR 201) governing the creation of banker's acceptances. In essence, the regulation requires that an "eligible" banker's acceptance (i.e., one acceptable for discount at the Federal Reserve discount window) have a maturity of not mor......
58. Sale At Less Than Fair Value The sale of merchandise to a foreign purchaser at a price below the price that would be charged for a like sale in the home market. Such sales may serve as the basis for an allegation of Dumping (read this and related legal ......
59. Dollar Gap Synonymous with Dollar Deficit (read this and related legal terms for further details).......
60. Foreign Trade Zone An enclosed area in or near a port of entry that, while located on American territory, is effectively outside the customs jurisdiction of the United States. Such zones were authorized by the Foreign Trade Zones Act of 1934 as areas where foreign products might be entered, stored, manipulated, manufa......
61. Reliquidation An amendment of a customs entry Liquidation (read this and related legal terms for further details)......
62. Cash Income Resources See Also Bookkeeping Accounting Accounting Ethics Public Accountant Accounting Principles...
63. Cross Bill Synonymous with re-draft (read this and related legal terms for further details).......
64. Notional Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the price the goods "ought to fetch" under specified conditions; this view was widely held for many years and was embraced in the Brussels Definition Of Value (...
65. Pilotage The charge imposed on a vessel for the services of a pilot to guide the ship into or out o: a harbor. The actual costs of pilotage are computed in terms of pilotage units (read this and related legal terms for further detail......
66. Covered Transaction A transaction denominated in terms of a foreign currency, payable at a future date, in which protection against loss on exchange has been procured, usually in the form of a Forward Exchange Contract (read this and related le......
67. In Regular Turn Synonymous with berth Clause (read this and related legal terms for further details).......
68. Slot Ship Synonymous with cellularized vessel (read this and related legal terms for further details).......
69. Cash Price The same as SPOT price (read this and related legal terms for further details), as used in grain transactions.......
70. Certificate Of Receipt Synonymous with FORWARDER'S RECEIPT (read this and related legal terms for further details).......
71. Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
72. Discriminating Duty Synonymous with DIFFERENTIAL DUTY (read this and related legal terms for further details).......
73. Dollar Shortage Synonymous with Dollar Deficit (read this and related legal terms for further details).......
74. Fiduciary Standard Synonymous with FIDUCIARY CURRENCY (read this and related legal terms for further details).......
75. Gross Register Ton Synonymous with Gross Ton (read this and related legal terms for further details).......
76. Imperial Preference A synonym occasionally used for commonwealth preference (read this and related legal terms for further details).......
77. Insular Possessions Certain offshore possessions of the United States that are considered to be beyond the Customs Territory (read this and related legal terms for further details). The insular possessions are the Virgin Islands, Guam, Amer......
78. Intermediate Goods Synonymous with Intermediate Products (read this and related legal terms for further details).......
79. Managed Float Synonymous with dirty float (read this and related legal terms for further details).......
80. National Line Synonymous with national FLAG CARRIER (read this and related legal terms for further details).......
81. Noncontract Shipper A firm that has not executed an exclusive patronage contract (read this and related legal terms for further details).......
82. Owner's Item Synonymous with Owner's Account (read this and related legal terms for further details).......
83. Port Dues Synonymous with harbor dues (read this and related legal terms for further details).......
84. Roosa Bonds Bonds sold by the U.S. Treasury in the 1960s to foreign central banks for dollars as part of a Swap Arrangement (read this and related legal terms for further details) to relieve exchange rate instability. The bonds prov......
85. Self-Liquidating Loan Synonymous with Asset Conversion Loan (read this and related legal terms for further details).......
86. Sterling Bloc Synonymous with sterling area (read this and related legal terms for further details).......
87. Warehouse Certificate A warehouse receipt (read this and related legal terms for further details).......
88. Firm Indication An emphatic form of Indication (read this and related legal terms for further details) in vessel charter transactions.......
89. Gross Charter Also known as gross terms, a vessel charter arrangement whereby all expenses, to include loading, unloading, pilotage (read this and related legal terms for further details), et cetera, are for the account of the vessel.......
90. Agricultural Trade Development And Assistance Act Known commonly as P.L. 480, a 1954 act of Congress directed at the long-term improvement of the economies of developing nations through the concessional sale or grant of American agricultural products. The act is implemented by the Foreign Agricultural Service of the U.S. Department of Agriculture t......
91. Aktiebolag A Swedish form of stock company requiring a minimum of three corporators and an initial capitalization of 5,000 kroner. The company may have no fewer than three directors, one-third of whom may be foreigners.......
92. Arm's Length Transaction An economic transaction between unaffiliated parties undertaken as a product of commercial negotiation or market forces. Section 482 of the Internal Revenue Code authorizes the Internal Revenue Service to reallocate income to a domestic corporation when transactions with a controlled affiliate are u......
93. Associated Foreign Corporation As used in conjunction with the operations of a DOMESTIC INTERNATIONAL SALES CORPORATION (read this and related legal terms for further details), or DISC, a foreign corporation in which neither the DISC nor members of t......
94. Austin v. Loral Corporation Austin v. Loral Corporation 1971 New York Court of Appeals • Loral had contract with Navy for radar sets, subcontracted ... Read more...
95. Armendariz v. Foundation Health Psychcare Services ContentsArmendariz v. Foundation Health Psychcare Services, Inc.ConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Armendariz v. ... Read more...
96. Arbitration: List of Latin American Institutions ContentsArbitration: List of arbitral Latin American InstitutionsArgentinaBoliviaBrazilChileColombiaCosta RicaDominican Republic EcuadorEl SalvadorGuatemalaHondurasMexicoNicaraguaPanamaParaguayPeruUruguayVenezuelaConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in ... Read more...
97. Arbitral Institutions in Brazil Contents Arbitral Institutions in BrazilList of Arbitral Institutions in BrazilConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these ... Read more...
98. Australia business licenses 1. Children’s Services Act 1996 (VIC) Description The main purpose of this Act is to provide for the licensing and ... Read more...
99. Anglo-Peruvian Amazon Rubber Co ContentsAnglo-Peruvian Amazon Rubber Co.IntroductionInvestigationLoan SlaveryEcuadorConclusionsSee AlsoFurther ReadingMentioned in these Entries Anglo-Peruvian Amazon Rubber Co. Introduction The Putumayo, which gives its ... Read more...
100. AKOMA NTOSO ContentsAKOMA NTOSOIntroduction to AKOMA NTOSOThe StandardHistory of AKOMA NTOSOA Framework for Interoperability of ParliamentsDescripitionObjectivesMain featuresSupportLimited set of constraintsConclusionsResourcesNotes and ReferencesSee ... Read more...
101. Auditing Of the various specialized areas of accounting that exist, the three most important are auditing, income taxation, and nonbusiness organizations. Auditing is the examination, by an independent accountant, of the financial data, accounting records, business documents, and other pertinent [...]...
102. Accounting for Nonbusiness Organizations ContentsAccounting for Nonbusiness OrganizationsMore Accounting EntriesFinancial ReportingAccounting PrinciplesThe Balance SheetThe Income StatementRegulations and Standards in the United StatesSee Also Accounting ... Read more...
103. Accounting Principles ContentsAccounting PrinciplesRead about AccountingSee Also Accounting Principles Accounting as it exists today may be viewed as a system of assumptions, ... Read more...
104. Assets and Liabilities ContentsAssets and LiabilitiesAssets and Liabilities DefinitionsIn AccountancyIndividualsCompaniesCountriesMore Accounting EntriesSpecialized AccountingFinancial ReportingAccounting PrinciplesThe Balance SheetThe Income StatementRegulations and Standards in the ... Read more...
105. Accepted for Value ContentsAccepted for ValueAcceptance for ValueIn the United StatesAcceptance, Accept and ValueSee Also Accepted for Value Acceptance for Value In commercial ... Read more...
106. A Forfait Financing Read details of Forfaiting.......
107. Ab Kai In German, a term of sale signifying that the goods are sold free at the pier.......
108. Ab Quai Synonymous with AB KAI (read this and related legal terms for further details).......
109. Absolute Endorsement An archaic term not used in modern statutes, it meant an unconditional endorsement of a negotiable instrument. It is replaced effectively by the term General Endorsement. Endorsement is considered here.......
110. Absolute Spread A provision in a variable rate loan that fixes the upper limit of the premium over prime rate at a specific percentage, e.g., prime plus 3 percent.......
111. Absorption Summary of Absorption The performance by a common carrier of special services not provided for in the tariff or included in the freight paid; among such services may be switching, wharfage, or redelivery of merchandise. The performance and/or acceptance of such services may constitute an [...]...
112. Acceptability As used in relation to the discount or re-discount of a negotiable instrument at the Federal Reserve, acceptability implies that the Bank regards the paper as sound and apt to be collectible upon maturity. Where the Bank has doubts concerning the maker, payee, or endorsers of an instrument, financia......
113. Acceptance Commission A fee charged by a bank for accepting a draft on behalf of a customer. By accepting the draft, the bank guarantees payment of the instrument, making the bill more acceptable in the discount market. A bank normally accepts drafts against a prearranged line of credit with its customer.......
114. Acceptance Credit Acceptance Financing is considered here.......
115. Acceptance Facility Acceptance Financing is considered here.......
116. Acceptance Financing An arrangement by which a bank extends to an exporter or importer a line of credit, known as the acceptance facility, to finance the purchase or sale of goods. The borrower draws against the line of credit by drawing drafts, with future maturity dates, upon the bank; the bank will accept such drafts......
117. Acceptance For Honor Acceptance For Honor Summary of Acceptance For Honor Cross-reference: Acceptance SUPRA PROTEST.(Main Author: William J. Miller) Description of Acceptance for Honor Description of Acceptance for Honor Resources See Also Bills Notes Resources See Also Acceptance...
118. Acceptance Liability The aggregate of all drafts or bills of exchange accepted by a bank and outstanding. On a bank's ledger, this liability is reflected as "liability on account of acceptances."......
119. Accommodation Party Summary of Accommodation Party One who provides an ACCOMMODATION ENDORSEMENT (read this and related legal terms for further details) on a negotiable instrument.(Main Author: William J. Miller) Description of Accommodation Party Resources See Also SURETY Accommodated Party [...]...
120. ACP Countries Acp Countries Summary of Acp Countries An acronym for African- Caribbean-Pacific countries. The term originated in conjunction with the LOME CONVENTIONS (read this and related legal terms for further details).(Main Author: William J. Miller) ACP (African, Caribbean, and Pacific) [...]...