Related Entries of the International Encyclopedia:

1. Currency Adjustment Factor A surcharge imposed on ocean freight by a carrier to offset or mitigate the impact of exchange rate fluctuations upon his freight revenue.......
2. Forward Exchange Contract An agreement to exchange, at a specified future date, a fixed number of units of one currency for a fixed number of units of another currency. Such contracts are often procured by merchants when they must settle future accounts in a foreign currency and wish to protect against possible losses [...]...
3. Floating Exchange Rate Floating Exchange Rate in International Trade Meaning of Floating Exchange Rate, according to the Dictionary of International Trade (Global Negotiator): A rate of exchange that is determined by market forces. See also clean float and dirty float. Concept of Floating Exchange Rate An [...]...
4. Spot Rate Spot Rate in International Trade Meaning of Spot Rate, according to the Dictionary of International Trade (Global Negotiator): Rate of exchange quoted for purchases and sales of a foreign currency for immediate delivery and payment....
5. Exchange Control The system by which a government regulates possession of and dealings in foreign exchange. The principal objective of exchange control is to allocate foreign exchange to necessary imports and expenditures. Normally, the finance ministry or central bank is invested with the authority to issue [...]...
6. Interbank Market A market for the purchase and sale in the spot and forward markets for foreign exchange among major commercial banks. Very often, these banks will offer to purchase or sell exchange through brokers, thereby initially protecting the identity of the market participants in a given currency at a point i......
7. Forward Rate Forward Rate in International Trade Meaning of Forward Rate, according to the Dictionary of International Trade (Global Negotiator): The price of a foreign currency that is bought or sold for delivery and payment at a fixed future time, usually 30, 60 or 90 days. Forward transactions enable [...]...
8. Foreign Currency Foreign Currency in International Trade Meaning of Foreign Currency, according to the Dictionary of International Trade (Global Negotiator): The currency of any foreign country which is authorized medium of circulation and the basis for record keeping in that country. Foreign currency is [...]...
9. Banker's Bill A bill of exchange drawn by a bank upon a foreign bank. Usually, these bills are drawn upon credit balances with foreign banks so as to make exchange available locally, and are clean bills of exchange. Bill of Exchange is considered here.......
10. Blocked Exchange An exchange restriction, imposed by governmental authority, that forbids the unlicensed purchase of bills of exchange, currency, or negotiable instruments denominated in a foreign currency. The object of this measure is to prevent transmission of foreign currency reserves out of the country. [...]...
11. London Interbank Offered Rate Often abbreviated as LIBOR, the rate at which major London banks will lend funds to each other. It is used as a money market index, and loans are often expressed in terms of LIBOR plus a percentage. LIBOR is used, in Eurodollar loans, as an equivalent to prime rate in the United States.......
12. Dfc Currency Basket Scheme A mechanism of the World Bank and related agencies whereby loans to development finance companies (DFCs) would be made in a basket of currencies so as to mitigate the effects of exchange rate fluctuations. From 1980, the World Bank has made certain development loans in a mixture of U.S. dollars (usu......
13. Purchasing Power Parity An equal relationship of prices between two countries. Price levels in both countries are substantially the same, considering the rate of exchange.......
14. Rationing Of Exchange An exchange control imposed by governmental authority to regulate transactions in foreign exchange. Under a rationing of exchange scheme, only the government may issue exchange to importers, and holders of bills of exchange denominated in a foreign currency must surrender them to the government in e......
15. Reserve Currency Summary of Reserve Currency The currency of a major trading national, widely accepted in international transactions and regarded as stable, that is held by the central banks or monetary authorities of other nations as a form of collateral for their own currency. The use of reserve [...]...
16. 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......
17. Key Currency The currency of a major trading nation widely accepted in settlement of international accounts. At present, eight currencies are regarded as key currencies and are known as the Big Eight ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal [...]...
18. Nominal Interest Rate The rate of interest earned by an investment, without adjustment for inflation. Deducting the inflation factor from the nominal rate yields the effective or real interest rate, which is a more accurate reflection of the return on the investment.......
19. Foreign Exchange Foreign Exchange in International Trade Meaning of Foreign Exchange, according to the Dictionary of International Trade (Global Negotiator): Current or liquid claims payable in foreign currency and in a foreign country (bank balances, checks, bills of exchange). Not to be confused with foreign [...]...
20. Differential Exchange Rates A scheme in which a government prescribes different rates of exchange for the local currency, depending upon the transaction involved. The government may assign its currency a given value in terms of gold for capital transfers, for example, but provide for a less favorable rate of exchange for impor......
21. Other Holders Institutions other than central banks, national treasuries, and the International Monetary Fund itself that are approved by the IMF to hold Special Drawing Rights (read this and related legal terms for further details). ......
22. 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......
23. Foreign Currency Account Foreign Currency Account in International Trade Meaning of Foreign Currency Account, according to the Dictionary of International Trade (Global Negotiator): An account maintained in a foreign bank in the currency of the country in which the bank is located. When such accounts are kept, they [...]...
24. European Central Bank European Central Bank (ECB) and the Treaties of the European Union Description of European Central Bank (ECB) provided by the European Union Commission: The European Central Bank was inaugurated on 30 June 1998. On 1 January 1999 it took over responsibility for implementing European monetary [...]...
25. European Bank for Reconstruction and Development European Bank for Reconstruction and Development (ebrd) and Europe There is an entry on european bank for reconstruction and development (ebrd) in the European legal encyclopedia. European Bank for Reconstruction and Development and the European Union Resources See Also World Bank Bank [...]...
26. Gold Standard Summary of Gold Standard A system under which a nation's currency is freely convertible into gold. The quantity of gold per unit of currency is fixed by law. Most major trading nations, however, abandoned the gold standard because of the constraints it imposes upon liquidity, although [...]...
27. Swap Arrangement An agreement between central banks to lend each other prearranged sums of each other's currency. This arrangement is designed to permit a central bank to intervene in the foreign exchange market so as to retard speculative pressures on its currency. Such agreements are generally bilateral and us......
28. Dirty Float Also known as managed float, the process whereby national monetary authorities intercede in the foreign exchange markets to prevent significant fluctuations in the values of their own or other currencies. The process is accomplished by selling reserves of currencies rising in value, or the [...]...
29. Exchange Rates Multiple Exchange Rates (also known as Differential Exchange Rates) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Multiple Exchange Rates (also known as Differential Exchange Rates): [...]...
30. European Terms An expression of the value of any foreign currency in terms of how many units equal one dollar; effective September 1, 1979, most New York banks employed this foreign currency method for transactions.......
31. Export-lmport Bank of the United States Export-lmport Bank of the United States (Eximbank) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Export-lmport Bank of the United States (Eximbank): A public corporation created by executive order of the [...]...
32. Forward Exchange Option Forward Exchange Option in International Trade Meaning of Forward Exchange Option, according to the Dictionary of International Trade (Global Negotiator): A contractually agreed right to buy (put) or to sell (call) a specific amount of one currency for a specified amount of another [...]...
33. Bretton Woods Agreement The product of an international conference on monetary and economic affairs held at the end of World War II, from which resulted the International Monetary Fund and the World Bank; the term is used most commonly in reference to a program for world monetary affairs that emerged from the conference an......
34. Floating Currency Floating Currency in International Trade Meaning of Floating Currency, according to the Dictionary of International Trade (Global Negotiator): One whose value in terms of foreign currency is not kept stable (on the basis of the par value or a fixed relationship to some other currency) but [...]...
35. Vostro Account Funds denominated in local currency that a foreign bank holds in a local bank. ......
36. Freight of All Kinds Freight of All Kinds in International Trade Meaning of FAK (Freight of All Kinds), according to the Dictionary of International Trade (Global Negotiator): Freight rate applicable to all types of goods and therefore is not restricted to a particular commodity. FAK freight rates are quoted [...]...
37. Par Value The nominal value assigned to a currency by its issuing authority. Normally, this value is expressed as a quantity of gold, or another currency convertible into gold. When the market value of a currency, expressed in terms of other convertible currencies, deviates significantly from its par [...]...
38. Bank For International Settlements Bank For International Settlements Summary of Bank For International Settlements An international bank owned and controlled by the central banks of twenty-four European and five non-European central banks. The BIS was formed at the Hague Conference of 1930 in response to pressures for the [...]...
39. Bank Export Services Act A 1982 act of Congress that amends Federal banking laws to permit banks to acquire equity, up to 100 percent, in Export Trading Companies. The act forms Title II of the Export Trading Company Act. See export TRADING COMPANY ACT.......
40. Bank-Post Remittance A settlement of a matured bill of exchange sent by a commercial bank to the foreign maker of the bill. A bank check is the customary form of remittance.......
41. Bank Paper A bill of exchange or other negotiable that has been accepted or endorsed by a bank.......
42. Base Rate The specific commodity or general class rate applicable to a product in a common carrier's tariff. Various surcharges, fuel adjustments, currency adjustment factors, et cetera, may be imposed on top of the base rate; they are often expressed as a percentage of the base rate.......
43. Holocaust Victims of Bank Theft V Magyar Nemzeti Bank Holocaust Victims of Bank Theft v Magyar Nemzeti Bank in 2011 United States views on international law (based on the document "Digest of U.S. Practice in International Law"): On February 18, 2011, the United States filed a statement of interest in a case in federal district court in [...]...
44. Dismissal of the Claims Against Erste Bank Group Ag and Mkb Bank Dismissal of the Claims Against Erste Bank Group ag and Mkb Bank in This Action Would be in the Foreign Policy Interest of the United States in 2011 United States views on international law (based on the document "Digest of U.S. Practice in International Law"): Austria is an [...]...
45. Bank Regulations Bank Regulations......
46. Bank Acceptance Bank Acceptance in International Trade Meaning of Bank Acceptance, according to the Dictionary of International Trade (Global Negotiator): A draft accepted by a bank usually for the purpose of financing the sale of goods to or by the bank's customer. The bill may be drawn , for example, by [...]...
47. Bank Draft Bank Draft in International Trade Meaning of Bank Draft, according to the Dictionary of International Trade (Global Negotiator): A payment order from a bank, similar to a cashier's cheque. A bank draft is considered cash and cannot be returned unpaid....
48. Bank Guarantee Bank Guarantee in International Trade Meaning of Bank Guarantee, according to the Dictionary of International Trade (Global Negotiator): A contract between a bank (as guarantor) and a beneficiary, in which a bank commits itself to pay a certain amount of money under certain specified [...]...
49. Bank Account Description of Bank Account In this reference work, bank account is a sort of the Banking category. Resources See Also Banks Banking Banking...
50. Bank Bill Resources See Also Bank (Bank note)...
51. Bank Resources See Also Credit Union Cooperative Collective Resources See Also Banking Banc Resources See Also Teller Resources See Also Pass-book Resources See Also National bank Resources See Also Mutual savings bank Savings and loan association. Compare Commercial bank [...]...
52. Bank Clearings Resources See Also Clearinghouse...
53. Bank Regulations History Bank Regulations History......
54. Bank Export Services In the United States For information about Bank Export Services in the context of international trade, click here...
55. Bank Holding Companies In the United States For information about bank holding companies in the context of international trade, click here...
56. Central Bank The principal monetary authority of a nation. In most commercially developed nations the central bank issues the currency and acts as banker for the government and the nation's commercial banks. By setting the rate at which it will lend money to commercial banks, the central bank [...]...
57. Consortium Bank A bank owned by a group of other banks, usually including foreign banks, with no one member of the group controlling more than 50 percent of the outstanding shares.......
58. Correspondent Bank Summary of Correspondent Bank A bank that acts as the representative of another bank in a given transaction. As a rule, correspondents have sums on deposit with each other for the purpose of settling the transactions of the other bank.(Main Author: William J. Miller) [...]...
59. Member Bank A bank that holds membership in the Federal Reserve system. Membership is mandatory for banks with Federal charters. State- chartered banks may join if qualified. Member banks are obliged to subscribe a fixed portion of their capital and surplus to stock of their regional banks, must maintain prescr......
60. Asian Development Bank Summary of Asian Development Bank A multilateral development bank formed in 1966 to provide capital to Asian and Pacific countries to expand their economic infrastructure and industrial base. Capital is contributed to the bank by its members, which include both regional, i.e., Asian, and [...]...
61. European Investment Bank Summary of European Investment Bank A multilateral development bank established in 1958 by the Treaty of Rome for the purpose of assisting in the balanced growth of the European economic community (read this and related legal terms for further details) (EEC). The bank grants long-term loans [...]...
62. International Investment Bank A multinational development bank, membership of which is comprised of the Soviet Union and its allies. The bank was formed in 1970 to foster "economic efficiency and intensification" in the member states. The authorized capital of the bank is 1,071,300,000 transferable rubles, of which 374......
63. Islamic Development Bank A multinational development bank formed by Muslim countries to provide economic development assistance to member states, and to foster economic progress in Muslim communities in nonmember states. The financing practices of the bank are conducted in conformity with the principles and laws of Islam. T......
64. African Development Bank African Development Bank Outline The agreement to establish the AfDB came into existence in 1964, and the bank began to operate in 1966. Its membership is open to both African and non-African countries. There are about 75 members in the bank. As a regional development bank, the AfDB provides [...]...
65. Interamerican Development Bank Contents Interamerican Development Bank Interamerican Development Bank as an U.S. State Statute Topic This term is one of the topics ... Read more...
66. Bank of International Settlements Bank of International Settlements (BIS) This section provides an overview of bank of international settlements (bis) within the legal context of Monetary Institutions in international economic law, with coverage of Architecture. Resources Further Reading Pierre Panchaud, "Bank of [...]...
67. Actual Value Rate A freight rate applicable to certain commodities where, depending upon the actual goods, value may vary greatly. For example, the classification "scientific instruments" may embrace low-value laboratory glassware or high-value precision instruments. In such cases, the shipper must declare ......
68. African Development Bank Group A multilateral development organization, the first component of which, the African Development Bank, was created in 1963 under the auspices of the United Nations Economic Commission for Africa. The group provides funding to African states and multinational official bodies in Africa to advance indust......
69. Block Rate A reduced rail freight rate levied on movements of ten or more cars at one time from one shipper to a simple consignor.......
70. Cable Rate The exchange rate quoted for a given currency transferred by cable. The cable rate is higher than the rate for checks or bills of exchange denominated in the same currency because cable transfers are virtually instantaneous, thereby denying the bank or broker use of the funds during the collection p......
71. Central Rate Each currency affiliated with the EUROPEAN monetary system (read this and related legal terms for further details) is assigned a value in terms of the European currency unit (ECU). The central rate is the range within wh......
72. Check Rate The rate of exchange applicable to bankers' checks. This rate is lower than the cable rate but higher than the rate applicable to time bills of exchange, owing to the time value of money.......
73. Column 1 Rate The rate of duty applied by U.S. Customs to imports from nations enjoying Most Favored Nation (read this and related legal terms for further details) status. See TARIFF (CUSTOMS); Tariff Schedules of the United States.......
74. Combination Rate An inland freight rate from point of origin to destination derived by adding two or more intermediate rates.......
75. Contract Rate In the steamship industry, the freight rate applicable to goods shipped by a firm that has executed an exclusive patronage contract (read this and related legal terms for further details) with a Conference (...
76. Customs Rate The rate of exchange employed by U.S. Customs in converting foreign currency invoices for the purpose of arriving at a value, in U.S. dollars, for imported merchandise. Ad valorem duties are applied on the dollar value. In accordance with the Customs Simplification Act of 1956, the secretary of the......
77. Differential Rate A freight rate derived by compiling existing intermediate rates; this process is used where no through rate exists between the points of origin and destination.......
78. Directional Rate A freight rate reduced for cargo moving in a direction where cargo is light, for the purpose of stimulating movements. Under such circumstances, it is quite possible that the rate for the same product moving in the other direction (where tonnage is heavy) may be significantly higher.......
79. Effective Interest Rate Also known as the real interest rate, the return to capital derived by adjusting the nominal rate of interest for inflation. For example, a bond may bear a nominal rate of interest (the rate that the instrument pays) of 10 percent; by deducting the rate of inflation—say, 4 percent—we derive the ......
80. Effective Lending Rate The actual cost of a loan when such factors as commitment fees and compensating balances are computed on top of the interest rate.......
81. Effective Rate Of Exchange The true cost of acquiring a unit of a given currency in terms of another currency. The effective rate includes taxes and other costs that are factored into the price of the currency converted.......
82. 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......
83. Freight, All Kinds Rate A fixed charge levied by a carrier to ship a container, trailer, car, et cetera, from one point to another, irrespective of the contents. A FAK rate supersedes class or commodity rates. The shipper, in effect, pays a flat charge to move the unit and may ship whatever he wishes up to the rated capaci......
84. Green Rate A special rate of exchange used in converting agricultural prices fixed in units of account into national currencies, within the framework of the Common Agricultural Policy (read this and related legal terms for further deta......
85. Inter-American Development Bank Summary of Inter-American Development Bank A multinational development bank established in 1959 to promote economic and social development in Latin American member countries. The bank is owned by its forty-three member countries, of which twenty-seven are regional, i.e., Western Hemisphere [...]...
86. Interest Rate Risk The risk borne by the holder of fixed rate securities that interest rates will rise above those paid by his holdings, thereby depriving him of interest that might otherwise have been earned.......
87. International Bank For Economic Cooperation A clearinghouse for international settlements among COMECON members established at Moscow in 1963. The object of the bank was to eliminate the need for strict bilateral settlement of trade balances among members by use of accounts in "transferable rubles." The tranferable ruble, however, h......
88. Long Rate The rate paid by a bank or foreign exchange broker for long bills of exchange (i.e., those having a tenor of more than thirty days) payable abroad.......
89. Minimum Lending Rate The rate at which the Bank of England lends to members of the discount market against the security of treasury bills or other government paper with less than five years to mature.......
90. Noncontract Rate The freight rate applicable to commodities shipped by a firm that has not executed an exclusive patronage contract (read this and related legal terms for further details).......
91. Paper Rate A rate in a tariff under which no cargo moves.......
92. Predatory Rate An ocean freight rate set intentionally low so as to drive out competition. Soviet flag carriers, animated by motives other than commercial profit, were widely criticized for establishing predatory rates. Certain noncommunist carriers, enjoying heavy state subsidies, were also suspected of setting p......
93. Proportional Rate A freight rate that is constructed by adding separate joint or local rates applying to a through movement. A proportional rate, unlike a Combination rate (read this and related legal terms for further details), is applic......
94. Real Interest Rate Synonymous with effective interest Rate (read this and related legal terms for further details).......
95. Released Valuation Rate A lower tariff rate provided by a common carrier to a shipper in return for a reduced claim liability on the part of the carrier. For example, a carrier may offer a reduced rate if the shipper agrees to release the value of the product at fifty cents per pound. The Interstate Commerce Commission mus......
96. Riskless Rate Of Return The rate of interest paid by government securities; it constitutes a base against which other rates of return may be judged in assessing the effective use of capital.......
97. Royalty Rate The return that a firm receives from granting license for the use of its processes, trademarks, et cetera, to another firm.......
98. Sight Rate The rate of exchange used by a bank or foreign exchange dealer in purchasing a sight bill of exchange or similar instrument denominated in a foreign currency.......
99. Step-Down Rate A financing agreement in which a lower rate of interest is charged later in the life of the loan than at the beginning.......
100. Tariff Rate A rate for insurance coverage specifically prescribed by local regulation. Usually the rate is higher than might be derived through negotiations with a nonadmitted (read this and related legal terms for further details) ......
101. Time Volume Rate A contract between a shipper of cargo and a steamship line or conference in which the shipper pledges to ship a specific quantity of cargo aboard the carrier's vessels between agreed ports, during a given time period for a fixed sum of money per freight unit.......
102. Variable Rate Loan A loan on which the rate of interest is adjusted periodically in accordance with market rates.......
103. International Bank for Reconstruction and Development International Bank For Reconstruction And Development International Bank for Reconstruction and Development Outline The IBRD was established pursuant to the Bretton Woods Agreement of 1944. Its headquarters are in Washington, DC. As its name suggests, it is an intergovernmental (as opposed to [...]...
104. African Development Bank Sanctions Procedures Contents African Development Bank Sanctions Procedures Text  Background 1.1.  The mandate of the African Development Bank Group, which comprises the African ... Read more...
105. Birth Rate Resources See Also Population Population Planning Population Dynamics Population Structure...
106. Highest Original Statutory Rate A provision contained in General Headnote 10(d) of the Tariff Schedules that stipulates that in any case where two or more tariff classifications could be applied equally to an imported product, the classification having the highest original statutory rate (Column 2) shall be imposed, even though a ......
107. Merchant Bank A bank that provides a variety of financial services to commercial entities, including investment banking, acceptance of bills of exchange, insurance portfolio management, as well as business financing. Merchant banks are a Western European institution and do not customarily accept retail banking bu......
108. Offshore Bank Other Popular Tax Definitions in the World Legal Encyclopedia Adjusted Gross Income (sometimes, including Offshore Bank) ...
109. World Bank World Bank and the World Bank Group Further Reading A concise encyclopedia of the United Nations (including World Bank , H Volger, KA Annan -2010) The Oxford Handbook on the United Nations (TG Weiss - 2007) International Law: A Dictionary (including World Bank , Boczek, Boleslaw Adam -2005) [...]...
110. Accepting Bank Definition of Accepting Bank in International Trade The following is a concept of Accepting Bank in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): In a letter of credit, this is the financial institution that executes a banker's [...]...
111. Advising Bank Definition of Advising Bank in International Trade The following is a concept of Advising Bank in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): The bank that notifies the exporter of the opening of a letter of credit in his or her [...]...
112. Issuing Bank Issuing Bank in International Trade Meaning of Issuing Bank, according to the Dictionary of International Trade (Global Negotiator): The buyer's bank which establishes a letter of credit at the request of the buyer, in favour of the beneficiary (exporter/seller). Also called buyer's [...]...
113. Negotiating Bank Negotiating Bank in International Trade Meaning of Negotiating Bank, according to the Dictionary of International Trade (Global Negotiator): In a letter of credit transaction, the bank that: receives and examines the seller's documents for adherence to the terms and conditions of the [...]...
114. Presenting Bank Presenting Bank in International Trade Meaning of Presenting Bank, according to the Dictionary of International Trade (Global Negotiator): In bank collections, the collecting bank that deals directly with the drawee; usually is the drawee's bank of the account....
115. Reimbursing Bank Reimbursing Bank in International Trade Meaning of Reimbursing Bank, according to the Dictionary of International Trade (Global Negotiator): The bank named in a letter of credit from which the paying, accepting or negotiating bank may request cover after receipt of the documents in compliance [...]...
116. Second Advising Bank Second Advising Bank in International Trade Meaning of Second Advising Bank, according to the Dictionary of International Trade (Global Negotiator): In a letter of credit transaction, the seller usually prefers that the incoming letters of credit be advised through its bank account. However, [...]...
117. Foreign Bank United States Offices of Foreign Bank in relation with Foreign Banks This content deals with legal and regulatory aspects of United States Offices of Foreign Bank covered in connexion with Foreign Banks and banking / lending Institutions....
118. Agricultural Bank Resources See Also Farming Farm Bill Agricultural Law Agriculture Reform Agriculture...
119. Cereal Bank Resources See Also Farming Farm Bill Agricultural Law Agriculture Reform Agriculture...
120. Grain Bank Resources See Also Farming Farm Bill Agricultural Law Agriculture Reform Agriculture...