Related Entries of the International Encyclopedia:

1. Compensatory Tax A special import levy imposed by the European Economic Community upon certain agricultural imports when the entry price of such products falls below a reference, or minimum target, price and the import is priced so as to reflect an export subsidy. Compensatory taxes are institutionalized in the [...]...
2. Common Financing A feature of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
3. Common Pricing A feature of the COMMON AGRICULTURAL policy (read this and related legal terms for further details) of the European Economic Community.......
4. 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......
5. Community Preference Summary of Community Preference A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Community Preference and Europe There is an entry on community [...]...
6. Single Market Summary of Single Market A component feature of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Single Market and Europe There is an entry on single market in the European [...]...
7. Financial Solidarity A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
8. Restitutions Export and producer subsidies granted by the European Economic Community to EEC farmers and processors. The subsidies are a feature of the Common Agricultural Policy (read this and related legal terms for further details......
9. Supplementary Levy An additional tax that may be imposed upon imports of pork, poultry, or eggs into the European Economic Community when the purchase price of such items falls below the Gate Price ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
10. Buyer's Premium A subsidy offered by a member state of the European Economic Community to domestic tobacco processors to encourage the use of EEC, rather than imported, tobaccos. The program, which is a feature of the common AGRICULTURAL POLICY (...
11. Variable Import Levy A duty applicable to imports of certain significant agricultural commodities into the European Economic Community. The Common Agricultural Policy (read this and related legal terms for further details). of the EEC specif......
12. Monetary Compensatory Amounts Settlements between member states of the European Economic Community to reflect the market rate of currencies used in agricultural transactions and the periodically revised Green Rate (read this and related legal terms for f......
13. Chicken War A protracted dispute between the United States and the European Economic Community arising from the adoption of Europe's COMMON AGRICULTURAL POLICY (read this and related legal terms for further details) on chicken i......
14. Additional Product Aid A feature of the Common Agricultural Policy of the European Economic Community, which provides price supports to EEC producers affected by import competition. The "community preference" mechanism of the CAP eliminates external competition for most items but does not respond for certain pro......
15. 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 ......
16. Intervention Summary of Intervention A process within the framework of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community whereby the EEC will purchase certain commodities currently selling below a stipulated target price. The price [...]...
17. Werner Report A report on the subject of European integration, prepared by a committee under the leadership of Pierre Werner, prime minister of Luxembourg. The report, published in October 1970, urged full economic and monetary union within the European Economic Community as "a catalyst for the development o......
18. Montant De Soutien A plan devised by the European Economic Community in 1963 as the basis of agricultural trade negotiations during the Kennedy round. The plan is predicated upon a reference price for a given agricultural commodity; any imports below the reference price would incur a levy equal to the spread between t......
19. European Economic Community Summary of European Economic Community One of the three components of the European Communities. In March 1957, the members of the European Coal and Steel Community (France, Federal Republic of Germany, Italy, and the Benelux countries) expanded the sphere of economic cooperation through the [...]...
20. 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 (...
21. Basel Agreement An agreement, concluded April 24, 1972, among members of the European Economic Community for the purpose of narrowing the margins of fluctuation among community currencies. Participants in the agreement were Belgium, Germany, France, Luxembourg, Italy, and the Netherlands. The agreement served as th......
22. Basis Summary of Basis As used in commodities trading, either: 1) the difference between the spot price and the futures price, or 2) the difference between the cash market price at a given geographic point and the cash market price at a current delivery point, i.e., a point where there is active [...]...
23. Snake A medium for the stabilization of the exchange rates of European currencies. In October 1970 the Werner Plan addressed the adoption of a common European currency as a vehicle for the full economic and political integration of Europe. The demise of the bretton woods agreement (...
24. Economic Union Summary of Economic Union Also known as an economic community, an advanced form of economic integration on the part of several states. The economic union incorporates the features of a Common market (read this and related legal terms for further details)—unrestricted free trade among [...]...
25. Ordinary Course Of Trade A concept routinely applied in customs valuation that holds that the dutiable value of goods is the price at which they would normally sell if customary channels of distribution were observed. For example, where it was industry practice for a product to be sold directly by a manufacturer to an end u......
26. Dillon Round A series of multinational trade discussions conducted during 1960-1962 under the sponsorship of the general agreement of tariffs and Trade (read this and related legal terms for further details). The principal result of ......
27. First Englargement The addition of Great Britain, Ireland, and Denmark in 1972 to the original six members (France, Federal Republic of Germany, Italy, Belgium, Netherlands, Luxembourg) of the European Economic Community (read this and related......
28. Common External Tariff Summary of Common External Tariff The uniform customs tariff applied by all the member states of a customs union or common market to imports from nonmember nations.(Main Author: William J. Miller) Common External Tariff and the GATT Policy Negotiations In relation to the GATT [...]...
29. Fair Market Value The value an imported product would fetch, under similar circumstances of sale, were the goods sold in the country of origin. Customs authorities are usually interested in the fair market value of imported merchandise inasmuch as sales below such value may serve as the basis of a Dumping (...
30. Sliding Scale Tariff A customs tariff in which rates of DUTY (read this and related legal terms for further details) vary according to the price of a given import. Usually, as the price of the item declines, the duty is reduced. Duties may b......
31. 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......
32. Free Market The economic system of a nation in which market forces determine which goods and services are produced, and at what price they are offered. Free market economies do not contain substantial government controls on resource availability, price levels, or central planning of economic objectives.......
33. 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......
34. Switching Also known as switch trading, a Countertrade (read this and related legal terms for further details) arrangement under which a purchaser in one country assigns to a seller in another country an obligation due from a thir......
35. National Flag Carrier A common car RIER (read this and related legal terms for further details)-usually a steamship line or an airline- that bears its country's flag and is viewed in the trading community as representing the commercial in......
36. 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 (...
37. Franchise A provision in a marine cargo policy that partial losses will be adjusted if the loss exceeds a certain percentage of the total value of the shipment. A clause providing "with average if amounting to 3 percent," for example, would oblige the underwriter to settle a partial-loss claim [...]...
38. Positive Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the actual value of the transaction, as defined by buyer and seller. This view has been substantially fulfilled by the recent adoption of the transaction value basis of valuation in the Customs Valuatio......
39. 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 (...
40. European Common Market European Common MarketCross-reference: European Economic Community and European Union.......
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. Schuman Plan Summary of Schuman Plan A series of proposals for the pooling of European coal and steel resources as a vehicle for European economic recovery and integration, advanced by Robert Schuman of France in 1950. Schuman's plan was accepted by the governments of Belgium, Luxembourg, the [...]...
43. Trade Agreements Act Of 1962 An act that authorized the president, during the period of July 1, 1962, through June 30, 1967, to reduce or eliminate certain tariffs in return for similar concessions on the part of other trading nations. The act was largely in response to the elimination of internal duties by members of the Europ......
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. 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......
46. Floor In the case of a variable rate loan (read this and related legal terms for further details), a prearranged minimum rate of interest that will be imposed, irrespective of how low the money market index falls.......
47. 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 (...
48. Common Market Summary of Common Market A supranational organization of trading nations, created to promote economic collaboration and minimize constraints on the free movement of goods among the member states. Features of a common market include elimination of tariffs on goods moving between member [...]...
49. 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......
50. 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 (...
51. Paper Gold A common reference to Special Drawing Rights (read this and related legal terms for further details) issued by the International Monetary Fund.......
52. Certificate Of Receipt Synonymous with FORWARDER'S RECEIPT (read this and related legal terms for further details).......
53. Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
54. East- West Trade A general reference to trade between the industrial nations of the West, particularly those nations that are members of the Organization for Economic Cooperation and Development ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
55. International Reserves Gold, hard currencies, and special drawing rights (read this and related legal terms for further details) issued by the international monetary fund (...
56. Quantitative Restriction A limitation on the quantity of a given commodity that may be imported into a country during a specified period of time. A quantitative restriction is manifested as a Quota ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for further [...]...
57. Clearing Summary of Clearing An arrangement by which two firms in different countries agree to purchase goods from each other over a specific period of time, thereby balancing out obligations to each other. Clearing is not synonymous with barter, which implies a simultaneous or near simultaneous [...]...
58. Fecom The French acronym for the European Monetary Cooperation Fund. (read this and related legal terms for further details).......
59. Section 204 A provision of the Agricultural Act of 1956 authorizing the president to negotiate bilateral agreements to limit exports to the United States of "any agricultural commodity or product manufactured therefrom or textiles or textile products." The president is also empowered to take steps to ......
60. 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 ......
61. Findley Amendment An amendment to the AGRICULTURAL TRADE DEVELOPMENT AND ASSIST-ANCE ACT (read this and related legal terms for further details) of 1954 (P.L. 480) that precludes sales of agricultural produce under Title I of the act to a......
62. Less Than Fair Value An export sale price below that charged on like sales in the country of origin. Such sales are usually regarded as dumping (read this and related legal terms for further details), which may result in the imposition by th......
63. Sacrifice The economic loss sustained when cargo, rigging, or other property is jettisoned or destroyed in the course of saving an imperiled ship; sacrifice losses are usually recoverable in General Average (read this and related lega......
64. Treaty of Rome Treaty Of Rome Summary of Treaty Of Rome The document, signed at Rome in 1957 (effective January 1, 1958), by which the six founding states established the European Economic Community (read this and related legal terms for further details). (Main Author: William J. Miller) The Treaty of [...]...
65. Ab Quai Synonymous with AB KAI (read this and related legal terms for further details).......
66. Clayton Act An act of Congress, passed in 1914, that expands upon the antitrust (read this and related legal terms for further details) provisions of the Sherman Act by making it illegal for firms to engage in price discrimination a......
67. Clean Charter An imprecise expression used to describe a CHARTER PARTY (read this and related legal terms for further details) that does not include onerous or unusual provisions.......
68. Consign Summary of Consign The act of ordering a carrier to deliver a lot of merchandise from a given point to a given destination. The order is given via the medium of a Bill Of Lading (read this and related legal terms for further details).(Main Author: William J. Miller) Resources [...]...
69. Economic Nationalism A conscious, articulated national drive toward economic self-sufficiency. Economic nationalism is comparable to Autarchy (read this and related legal terms for further details) but does not mandate the economic isolation......
70. 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......
71. Manufacturer's Particulars Details of the construction of an intermodal container, as specified in the container's DATA PLATE (read this and related legal terms for further details).......
72. European Community European Community (EC) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of European Community (EC): (Previously known as the European Economic Community, or EEC; the term "European Communities" [...]...
73. Cash Commodity A tangible, physical commodity or financial instrument, the delivery of which to a purchaser could be effected immediately or nearly so.......
74. Cash Against Documents Cash Against Documents (CAD) in International Trade Meaning of Cash Against Documents (CAD), according to the Dictionary of International Trade (Global Negotiator): Payment terms used in bank collections that require the drawee to pay before receiving certain documents. Typically, the drawer [...]...
75. Cash in Advance Cash in Advance (CAI) in International Trade Meaning of Cash in Advance (CAI), according to the Dictionary of International Trade (Global Negotiator): Payment term in which the exporter receives payment before shipment of the goods. This minimizes the exporter's risk and financial costs, [...]...
76. Cash on Delivery Cash on Delivery (COD) in International Trade Meaning of Cash on Delivery (COD), according to the Dictionary of International Trade (Global Negotiator): A payment term under which payment for the shipped goods is to be made to the carrier at time of delivery. This practice is not recommended [...]...
77. Cash With Order Cash With Order (CWO) in International Trade Meaning of Cash With Order (CWO), according to the Dictionary of International Trade (Global Negotiator): A payment term whereby the buyer remits the money at the time the order is placed. Under this term, the buyer is actually extending credit to [...]...
78. Cash Flow Forecasting Literature Review on Cash Flow Forecasting In the Encyclopedia of Public Administration and Public Policy, [1] William R. Voorhees and Jeongwoo Kim provide the following summary about the topic of Cash Flow Forecasting: Cash flow forecasting is the process of identifying future cash [...]...
79. Cash Surrender Value Resources See Also Cash value option...
80. Cash Sale Resources See Also Sale Time-price differential...
81. Cash Flow Resources See Also Bookkeeping Accounting Accounting Ethics Public Accountant Accounting Principles...
82. Cash Income Resources See Also Bookkeeping Accounting Accounting Ethics Public Accountant Accounting Principles...
83. Cash Sickness Benefit Resources See Also Social Protection Social Security Employment Affairs Welfare State Health...
84. Constructed Price A value for customs purposes that ignores the invoice price of the merchandise but is derived by computing the cost inputs of the product (materials plus reasonable manufacturing expenses in the country of origin plus a profit factor), to which are added the normal costs associated with preparing th......
85. Commodity Price Index An index of prices for a stipulated list of commodities. Prices may be on a spot or futures basis. Customarily, major commodities are traded on exchanges (although there are some exceptions), and price fluctuations can be monitored accordingly. The U.S. Department of Labor maintains an index of twen......
86. Consumer Price Index Summary of Consumer Price Index An index of the retail price of four hundred consumer products and services, computed monthly by the Bureau of Labor Statistics. Formerly known as the Cost of Living Index, the compilation includes retail price inputs of given items from many cities across [...]...
87. Cash Value Resources See Also Actual cash value Cash surrender value Fair cash value Fair market value Market value...
88. Cash Resources See Also Legal tender Petty cash...
89. Cash Bail Resources See Also Bail...
90. Cash Benefit Resources See Also Social Protection Social Security Employment Affairs Welfare State...
91. Price Supports A program of governmental action designed to stabilize or lift the price that producers receive for their products. These actions may include direct cash payments, government purchase of output to force up market prices, or special financing. Such supports are most commonly applied to agriculture.......
92. Spot Price The price of a commodity in the Spot Market (read this and related legal terms for further details), i.e., the price quoted for immediate sale and delivery. ......
93. American Selling Price A method formerly employed in the United States to establish the value for duty of a limited number of imported products. Under the ASP scheme, an imported product's value for duty was based upon the selling price of like products manufactured in the United States, irrespective of the price the ......
94. International Price Index A price index that serves as a standard to measure inflation in industrialized countries. The index consists of the C.I.F. value (in U.S. dollars) of exports of industrial country manufactures to developing countries.......
95. Trigger Price Mechanism A program of import surveillance instituted by the U.S. government in 1977. Under this scheme, a floor price is established for designated import items; this floor is predicated upon the production cost of the most efficient foreign producer, with adjustments for freight and currency [...]...
96. Adjusted Cif Price A factor in determining the variable import levy imposed by the European Economic Community on grain imports. The adjusted C.I.F. (cost, insurance, and freight) price is derived by assigning a quality factor to grain imported from non-EEC countries so as to put the import on a quality basis comparab......
97. Arm's Length Price The price at which a given commodity would sell in a sale between an unrelated buyer and seller. Arm's length pricing is the functional opposite of transfer pricing, in which the buyer and seller are related and the price is influenced by that relationship.......
98. Base Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, a trigger price for specific commodities at which member states will intervene to support the market price of a commodity. Member states may respond to a decline in market prices below the base price by la......
99. Entry Price Under the common agriculture POLICY (read this and related legal terms for further details) of the European Economic Community, the price at which certain imported agricultural products enter EEC commerce. If the entry p......
100. Gate Price The minimum price at which pork, poultry, and eggs werw permitted to enter the European Economic Community under the common AGRICULTURAL POLICY (read this and related legal terms for further details) without imposition o......
101. Guide Price As used in conjunction with the European Economic Community's Common Agricultural Policy on cattle and calves, it is synonymous with Orientation Price (read this and related legal terms for further details).......
102. Indicative Price Also known as the norm price, the Target Price (read this and related legal terms for further details) for producers of olive oil under the common agricultural policy (...
103. Intervention Price The price at which the European Economic Community, in accordance with the Common Agricultural Policy (read this and related legal terms for further details), will intervene in the market to buy excess agricultural produ......
104. Normal Price Within the scope of the Brussels Definition Of Value (read this and related legal terms for further details), the value basis upon which ad valorem duties will be assessed on imports. The normal price is the price the go......
105. Orientation Price As used in conjunction with the Common Agricultural Policy of the European Economic Community it is the target price (read this and related legal terms for further details) for cattle and calves, i.e., the equilibrium pr......
106. Price Cartel An agreement among business entities to fix prices, to establish ranges within which prices may move, or to establish methods by which prices may be determined.......
107. Purchase Price Defined in 19 U.S.C. 162 as the price at which imported merchandise has been purchased, or will be purchased, prior to exportation. It is usually based on the ex factory price excluding any export duties levied in the country of manufacture. Within the framework of the European Economic Community......
108. Standard Price The target price (read this and related legal terms for further details) for tobacco under the Common Agricultural Policy of the European Economic Community.......
109. Target Price An important concept within the common agricultural policy (read this and related legal terms for further details) of the European Economic Community. It represents an optimum wholesale price within the community for a g......
110. Withdrawal Price A floor price at which European Economic Community producers of certain food products may withhold their goods from the market. The withdrawal price is generally below the base price (i.e., the target price set for a given commodity) and the purchase price at which EEC governments will intervene in ......
111. World Price The price at which a given commodity is selling internationally under market conditions in effect at the time of sale. To provide a valid comparison between prices, the world price quoted must normally include quality, location, and perhaps other factors, depending upon the commodity.......
112. Current Price Resources See Also Current market value Fair market value...
113. Call Price Resources See Also Redemption...
114. Equilibrium Relative Price Of Currencies Synonymous with rate of exchange, i.e., the price, in terms of one national currency, at which another currency can be purchased under market conditions.......
115. Foreign Market Price For purposes of customs valuation comparisons, generally the price of like merchandise sold for consumption in the country of origin.......
116. Minimum Import Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, Gate price (read this and related legal terms for further details).......
117. Uniform Delivered Price A single delivered price that is offered to all customers within a defined geographic area, irrespective of the actual cost of delivering the merchandise.......
118. Check Price System Check Price System and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Check Price System: A device used by a government agency to avoid charges of dumping in foreign markets by [...]...
119. Clear Market Price Resources See Also Fair market value...
120. Chile – Price Band System and Safeguard Measures Relating to Certain Agricultural Products Contents Chile Price Band System and Safeguard Measures Relating to Certain Agricultural Products   World Trade Organization – scope of ... Read more...