Contents
Certificate Of Origin
Summary of Certificate Of Origin
A document presented to customs authorities at the time of importation to authenticate the national origin of merchandise. The certificate is customarily issued by a recognized chamber of commerce or governmental authority in the country of origin.
(Main Author: William J. Miller)
In the United States
For information about Certificate of origin in the context of international trade, click here
Certificate of Origin in International Trade
Meaning of Certificate of Origin, according to the Dictionary of International Trade (Global Negotiator): A document attesting to the country of origin of the goods. A certificate of origin is often required by customs authorities of a country as part of the entry process. Such certificates are usually through an official organization in the country of origin such as the local chamber of commerce or a consular office. The goods description must coincide with that provided in the commercial invoice and in the packing list (number, goods description, name of the consignor and of the consignee, trademarks, etc). If the certificate of origin is not shown, the import customs may, if it deems it necessary, accept the dispatching of goods. In this case, the corresponding tariff would be applied to third countries (non preferential origin), without any tariff discount. Although the World Customs Organization and the World Trade Organization) have tried to create a single set of origin criteria in worldwide use, none exists at this time. Some countries and free-trade zones (such as NAFTA) require that origin be certified in terms of special criteria such as tariff shift or percentage value. Traders are well advise to assure that any applicable origin rules are understood and any required documentation is obtainable before concluding sales contracts. Model of Certificate of Origin.
Resources
See Also
Further Reading
- Information about Certificate of Origin in the Encyclopedia of World Trade: from Ancient Times to the Present (Cynthia Clark Northrup)
Certificate of Origin and the Laws of International Trade
Certificate of origin
Customs Trade Law
Hierarchical Display of Certificate of origin
Trade > International trade > International trade > Originating product
Certificate of origin
Concept of Certificate of origin
See the dictionary definition of Certificate of origin.
Characteristics of Certificate of origin
[rtbs name=”xxx-xxx”]
Resources
Translation of Certificate of origin
- Spanish: Certificado de origen
- French: Certificat d’origine
- German: Ursprungszeugnis
- Italian: Certificato d’origine
- Portuguese: Certificado de origem
- Polish: świadectwo pochodzenia produktu
Thesaurus of Certificate of origin
Trade > International trade > International trade > Originating product > Certificate of origin
See also
- Tariff preference
- Commodity agreement
- Free circulation
- Import restriction
- Generalised preferences
- Third country
- Origin of goods
- Product origin
- Rule of origin
Related Entries of the International Encyclopedia:
- Shipping Documents A general term relating to any of several documents customarily associated with the international shipment of merchandise. Among these documents are a bill of lading (or Air Waybill), Certificate Of Origin, customs or consular INVOICE, insurance certificate, DOCK receipt (qq.v.), and inspection [...]...
- Labeling Requirements In the United States For information about Labeling Requirements in the context of international trade, click here...
- Unentered Goods In the United States For information about Unentered goods in the context of international trade, click here...
- Customs Enforcement In the United States For information about Customs enforcement in the context of international trade, click here...
- Tariff Schedule Tariff Schedule and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Tariff Schedule: A comprehensive list of the goods, which a country imports, and the import duties applicable to each [...]...
- Customs Definition In the United States For information about Customs Definition in the context of international trade, click here...
- Customs Regulations In the United States For information about Customs Regulations in the context of international trade, click here...
- Parallel Imports Parallel Imports and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Parallel Imports: Goods, which are authorized by the owner of intellectual properly rights for sale in one country, but [...]...
- Customs Border Protection In the United States For information about Customs Border Protection in the context of international trade, click here...
- Customs Border Protection Enforcement In the United States For information about Customs Border Protection Enforcement in the context of international trade, click here...
- Customs Classification Customs Classification and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Customs Classification: The determination of the appropriate category in which a traded product is classified for [...]...
- Customs Entry Read Entry (Customs) as cross-reference.......
- General Order A condition imposed upon merchandise that is imported into the customs territory of the United States but that is not promptly cleared through customs. General order merchandise is deposited in an approved warehouse pending disposition. Section 127 of the Customs Regulations governs the [...]...
- Import Law In the United States For information about Import Law in the context of international trade, click here...
- 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 [...]...
- Clean Report of Findings A document issued by a recognized inspection agency certifying that certain merchandise has been examined and found to be in order. This document may be required by a letter of credit or stipulated by the exchange control authorities of certain governments. The object of the report is to ensure [...]...
- Import Licensing Import Licensing and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Import Licensing: Procedures requiring the submission of an application or other documentation (other than those [...]...
- In-bond The condition of goods that have been temporarily exempted from customs clearance and duties, in lieu of which the importer or custodian of the goods has posted a surety with customs authorities to ensure that the goods will not be released or consumed until formal examination and clearance [...]...
- Imports Minimum Import Price and International Trade Sea Turtle Conservation and Shrimp Imports In relation to the international law practice and Sea Turtle Conservation and Shrimp Imports in this world legal Encyclopedia, please see the following section: Environment, Transnational Scientific Issues [...]...
- Merchandise In the United States For information about Merchandise in the context of international trade, click here...
- CMR Transport Document CMR Transport Document in International Trade Meaning of Cmr Transport Document, according to the Dictionary of International Trade (Global Negotiator): This document, also know as CMR consignment note, constitutes a proof of the contract of carriage by road, determines the scope and [...]...
- Customs Invoice Read Invoice as cross-reference.......
- Government Procurement Government Procurement and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Government Procurement: Government policies and procedures for purchasing goods and services. Procurement [...]...
- Customs Transit The condition of merchandise that is transiting the customs territory of a nation without having been released from customs jurisdiction. Goods in customs transit are processed under an in transit entry at the time they enter the United States; the in transit, or I.T., entry is effected by filing wi......
- Goods Flow of Goods and Services In this global economy, the flow of goods and services across borders, otherwise known as trade, is a critical factor to the health and growth of a country’s economy. Yet many developing countries struggle with legal, institutional, and operational constraints that [...]...
- Clean Transport Document Clean Transport Document in International Trade Meaning of Clean Transport Document, according to the Dictionary of International Trade (Global Negotiator): A receipt for goods without any adverse notation indicating damage or shortage, issued by a carrier. Goods covered by clean transport [...]...
- Country of Origin For customs tariff purposes, the country in which an imported product was manufactured, grown, or produced. When goods pass through more than one country in the process of manufacture, the country of origin does not change unless the product has been transformed substantially; minor [...]...
- Transit Zone An entry point established by a coastal state for the benefit of a neighboring nation that is landlocked or lacking adequate port facilities for its own trade. Generally a transit zone is cordoned off from the main port facility, and goods passing through the zone are usually exempt from the [...]...
- Customs Violations In the United States For information about Customs violations in the context of international trade, click here...
- Most-favored-nation A privilege granted to a nation to have customs duties levied upon its products at the lowest rate offered to any other nation. Customarily, the extension of most favored nation status is reciprocal. See tariff (Customs).......
- Customs Compliance In the United States For information about Customs Compliance in the context of international trade, click here...
- Export In the United States For information about Export in the context of international trade, click here Export in International Trade Meaning of Export, according to the Dictionary of International Trade (Global Negotiator): To ship an item away from a country for sale to another country. [...]...
- Intermingled Goods In the United States For information about Intermingled goods in the context of international trade, click here...
- Port of Entry A point designated by a nation's customs authority through which goods may be entered for examination and clearance; ports of entry may be actual ocean ports, land border points, or interior locations to which goods are carried in bond.......
- Commingling In the United States For information about Commingling in the context of international trade, click here...
- Invoices In the United States For information about Invoices in the context of international trade, click here...
- Sad Sad in International Trade Meaning of Sad, according to the Dictionary of International Trade (Global Negotiator): The Single Administration Document is a customs declaration document used by all countries within the European Union (EU). It is required for all exports of goods outside the [...]...
- Marking Duties A special duty, in addition to ordinary duties, imposed upon merchandise not properly marked so as to indicate to the ultimate purchaser the country of origin. Section 304 of the Tariff Act of 1930, as amended, requires that the country-of-origin marking be legible, indelible, and permanent. [...]...
- Unfair Trade Remedies In the United States For information about Unfair trade remedies in the context of international trade, click here...
- Pre-shipment Inspection Pre-shipment Inspection (PSI) in International Trade Meaning of Pre-shipment Inspection (PSI), according to the Dictionary of International Trade (Global Negotiator): An inspection of contract goods prior to shipment so as to ascertain their quality, quantity or price. Importers may insist on [...]...
- Certificate of Analysis A document, often required by an importer or governmental authorities, attesting to the quality or purity of commodities purchased abroad. The certification may be prepared by a chemist or other authority, or by an inspection firm retained by the exporter or importer. In some cases the document [...]...
- Certificate of Manufacture A document issued by a manufacturer attesting that the named item has been manufactured and is available for shipment. This document is used commonly with sales under letters of credit providing for full or partial payment upon manufacture of the goods. In 1942 the Bankers' Association for [...]...
- Rules of Origin Rules of Origin and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Rules of Origin: The laws, regulations, and administrative practices that are applied to ascribe acountry of origin to [...]...
- Certificate of Free Sale A document issued by an agency of government, usually the health authority, certifying that a given product is in compliance with all local regulations and may be offered freely for sale within the country of origin. Normally, such certificates are issued to cover food products which are being [...]...
- Country of Origin Marking Country of Origin Marking and the Laws of International Trade Country-of-origin marking Labeling Requirements Trade Regulations Container marking Policy Regarding Country of Origin Marking and Labeling Requirements Parties liable Penalties Resources See Also [...]...
- Certification of Origin Certification of Origin Form A in International Trade Meaning of Certification of Origin Form A, according to the Dictionary of International Trade (Global Negotiator): This certificate is a type of Certificate of Origin that allows imports from the countries included in the GSP (General [...]...
- Certificate Of Receipt Synonymous with FORWARDER'S RECEIPT (read this and related legal terms for further details).......
- Certificate of Authority Certificate of Authority in International Trade Meaning of Certificate of Authority, according to the Dictionary of International Trade (Global Negotiator): Certification from an institution (called a certification authority) trusted to provide certification for parties (called certification [...]...
- Certificate of Conformity Certificate of Conformity in International Trade Meaning of Certificate of Conformity, according to the Dictionary of International Trade (Global Negotiator): Some countries (specially Eastern countries, such as Russia, Belarus, Kazakhstan or Moldova and Romania) require a certificate of [...]...
- Certificate of Health Certificate of Health in International Trade Meaning of Certificate of Health, according to the Dictionary of International Trade (Global Negotiator): Some countries require a health or sanitary certificate when animals, animal products, fish, plants, and food products are skilled. These [...]...
- Certificate of Inspection Certificate of Inspection in International Trade Meaning of Certificate of Inspection, according to the Dictionary of International Trade (Global Negotiator): A document certifying that merchandise (such as perishable goods) was in good condition at the time of inspection, usually immediately [...]...
- Certificate of Radioactivity Certificate of Radioactivity in International Trade Meaning of Certificate of Radioactivity, according to the Dictionary of International Trade (Global Negotiator): Some countries require, especially for food products, a certificate proving that they do not contain radioactive substances, [...]...
- Certificate of Weight Certificate of Weight in International Trade Meaning of Certificate of Weight, according to the Dictionary of International Trade (Global Negotiator): A document attesting that a particular shipment is of a certain weight....
- Certificate Of Weight And Inspection A document prepared by a trade association or recognized inspection firm attesting to the particulars of a given shipment, e.g., number and contents of packages, markings, and weights. This document is often required by importers and is frequently stipulated in letters of credit.......
- Certificate Of Admeasurement A document issued in conjunction with the construction or major overhaul of a ship for purposes of certifying the tonnage of the vessel and its cargo-carrying capacity. The certificate is used to ensure compliance with load-line regulations and serves as the basis for assessment of taxes and fees le......
- Certificate Of Protest The document issued by a notary public or other official confirming that a bill of exchange or other instrument has been presented for acceptance or payment and has been dishonored.......
- Nondumping Certificate A seller's certification, either in the form of a separate document or as a notation upon the invoice, that the merchandise described is being sold at a price no lower than that applicable to like sales in the country of origin. The purpose of the certification is to allay concerns of [...]...
- Phytosanitary Certificate Also known as a sanitary certificate, a document issued by an appropriate governmental authority in the country of export certifying that a given shipment of plants or agricultural products has been inspected and is free from disease or pests. This document is customarily obtained by the [...]...
- Rule-of-origin Theory In the United States For information about Rule-of-origin theory in the context of international trade, click here...
- Certificate Receipt Forwarder's Certificate Receipt in International Trade Meaning of FCR (Forwarder's Certificate Receipt), according to the Dictionary of International Trade (Global Negotiator): A receipt for shipped goods tendered by a carrier (such as a dock receipt, or marine, air or ground transport [...]...
- Certificate Of Public Convenience And Necessity The document issued to a common carrier by the appropriate regulatory agency authorizing the carrier to haul specified cargoes between designated points under established rates.......
- Carrier's Certificate A document issued by a steamship line, an airline, or other transportation company carrying imported merchandise certifying to the customs authorities that the party named is the legitimate recipient of the goods and is authorized to effect clearance through customs (see figure). The party so named ......
- Count Certificate A document confirming the count of merchandise at time of shipment or delivery. The document is often issued by an independent third party, such as an inspection bureau.......
- Navigation Certificate A document issued by a belligerent, in time of war, certifying that a ship and its cargo have been searched and permission has been given for the vessel to proceed on to a neutral port......
- Warehouse Certificate A warehouse receipt (read this and related legal terms for further details).......
- Certificate Spanish Translation of title and security and certificate This is the legal translation of English to Spanish in relation to title or security or certificate and / or a definition of this topic: Título (in Spanish, without translation of the dictionary entry). Certificate in Canadian [...]...
- Certificate of Indebtedness Spanish Translation of debt instrument and certificate of indebtednessThis is the legal translation of English to Spanish in relation to debt instrument or certificate of indebtedness and / or a definition of this topic: Certificado de Descubierto (in Spanish, without translation of the [...]...
- Appellations of Origin Appellations of Origin and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Appellations of Origin: (Also referred to as "geographic indications of origin.") The name of a [...]...
- Marks of Origin Marks of Origin and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Marks of Origin: Physical markings indicating where an article was produced, as required by most countries' customs [...]...
- Certificate of Review International Import Certificate-Delivery Verification System and International Trade Resources See Also COCOM List...
- Point of Origin Point of Origin in International Trade Meaning of Point of Origin, according to the Dictionary of International Trade (Global Negotiator): The location at which a shipment is received by a transportation line from the shipper....
- Certificate of Election From the book The Clergyman's Hand-book of Law, about Certificate of Election (1): A certificate of election of officers is prima facie evidence thereof, but the truth may be shown aliunde and a wrong certificate may be cancelled by a judgment of a competent court on a writ of quo warranto [...]...
- Certificate of Citizenship Passports: Edwards v. Bryson in 2013 United States views on international law [1] in relation to Passports: Edwards v. Bryson: The Third Circuit reaffirmed its holding in Moreno in another case decided on August 26, 2013, Edwards v. Bryson, No. 12-3670, 2013 WL 4504783 (3d Cir. Aug. 26, [...]...
- Country of Origin Rule Country of Origin Rule in Private International Law This section contain conflict of laws information and cross references related to country of origin rule on some major countries and additional jurisdictions. It covers key issues involved when citizens face international situations. [...]...
- Certificate of Deposit Certificate of Deposit Accounts regarding Banking Law This content deals with legal and regulatory aspects of Certificate of Deposit covered in connexion with financial law and banking / lending Institutions....
- Certificate of Incorporation Resources See Also Articles of Incorporation...
- Certificate of Title Resources See Also Insurance (Title insurance)...
- Certificate of Competency Resources See Also Personnel Law Enforcement Officer Military Personnel Law Practice Management Job Labor Law Labor Right Employment Contract...
- Certificate of Employment Resources See Also Personnel Law Enforcement Officer Military Personnel Law Practice Management Job Labor Law Labor Right Employment Contract...
- Cargo Insurance Certificate Cargo Insurance Certificate in International Trade Meaning of Cargo Insurance Certificate, according to the Dictionary of International Trade (Global Negotiator): A document indicating the type and amount of insurance coverage in force on a particular shipment. Used to assure the consignee [...]...
- Country of Origin Labeling Requirements United States – Certain Country of Origin Labeling (cool) Requirements (canada) (ds384) and (mexico) (ds386) in 2011 United States views on international law (based on the document "Digest of U.S. Practice in International Law"): On November 18, 2011, a single panel issued its [...]...
- Customs Legal Issues Customs were the original form of international commercial law. As we have seen in the history of lex mercatoria, the customs existed before any statute of commercial law was made and were often the basis for legislation.(1) Customs in International Trade Meaning of Customs, [...]...
- Halal Certificate Halal Certificate in International Trade Meaning of Halal Certificate, according to the Dictionary of International Trade (Global Negotiator): The Halal certificate is a document that guarantees that products and services aimed at the Muslim population meet the requirements of Islamic law and [...]...
- Insurance Certificate Insurance Certificate in International Trade Meaning of Insurance Certificate, according to the Dictionary of International Trade (Global Negotiator): A document used so that coverage is provided to cover loss or damage to cargo while in transit when insurance is placed against an open marine [...]...
- Movement Certificate Eur 1 Movement Certificate in International Trade Note: there is more information about this term in the European legal Encyclopedia. Meaning of Eur 1 Movement Certificate, according to the Dictionary of International Trade (Global Negotiator): Goods transport certificate and proof of [...]...
- Sanitary Certificate Sanitary Certificate in International Trade Meaning of Sanitary Certificate, according to the Dictionary of International Trade (Global Negotiator): Some countries require a health or sanitary certificate when animals, animal products, fish, plants and food products are skilled. These [...]...
- Wto Agreement on Rules of Origin The Agreement on Rules of Origin and the World Trade Organization The Agreement on Rules of Origin in relation to the World Trade Organization (WTO) covers several issues....
- Country of Origin Labeling United States – Certain Country of Origin Labeling (cool) Requirements (canada) (ds384) and (mexico) (ds386) In relation to the international law practice and United States – Certain Country of Origin Labeling (cool) Requirements (canada) (ds384) and (mexico) (ds386) in this world legal [...]...
- Appellation of Origin Description of Appellation of Origin In this reference work, appellation of origin is a sort of the Trademarks category. Resources See Also Trademarks Trademarks...
- Certificate of Discharge Resources See Also Satisfaction piece...
- Regional Appellation Certificate A document prepared by a recognized local authority certifying that certain referenced merchandise derives from a given defined geographic area. This document is akin to a Certificate of Origin (read this and related legal t......
- Delivery Summary of Delivery The act whereby the owner of a vessel gives operational control over to the charterer.(Main Author: William J. Miller) In the United States For information about Delivery in the context of international trade, click here Delivery in International Trade Meaning [...]...
- Free Trade Area Summary of Free Trade Area An association of states that seeks to overcome impediments to trade among members by reducing or eliminating tariffs among the participants. The members of a free trade area do not maintain a common external tariff nor do they (usually) provide for the free flow [...]...
- Transaction Value The primary method of valuing goods for customs purposes under the Customs Valuation Agreement (read this and related legal terms for further details).......
- International Import Certificate/ Delivery Verification System A control mechanism established by certain Western countries to prevent diversion of strategic commodities to communist-bloc countries. The system was devised by COCOM (read this and related legal terms for further details...
- Lisbon Agreement For The Protection Of Appellations Of Origin And Their International Registration An international agreement to protect appellations of origin that are defined as the "geographical name of a country, region, or locality, which serves to designate a product originating therein, the quality and characteristics of which are due exclusively or essentially to the geographical env......
- Hypothecation Certificate Also known as a letter of hypothecation, a document attached to a bill of exchange (read here for further details) that arises from a shipment of merchandise. The hypothecation certificate empowers the bank presenting the bill or any subsequ......
- Kosher Certificate Kosher Certificate in International Trade Meaning of Kosher Certificate, according to the Dictionary of International Trade (Global Negotiator): The Kosher certificate is a document issued by certification agencies and the Chief Rabbinate of Israel, in which a Rabbi certifies that the products [...]...
- Agreement on Rules of Origin The Agreement on Rules of Origin and the World Trade Organization The Agreement on Rules of Origin in relation to the World Trade Organization (WTO) covers several issues....
- Executive Certificate Embracing mainstream international law, this section on executive certificate explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "executive certificate" in the Parry and Grant Encyclopaedic Dictionary of International [...]...
- Allotment Certificate Description of Allotment Certificate In this reference work, allotment certificate is a sort of the Securities category. Resources See Also Securities...
- Birth Certificate Resources See Also Birth record...
- Foreign Office Certificate Embracing mainstream international law, this section on foreign office certificate explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "foreign office certificate" in the Parry and Grant Encyclopaedic Dictionary of [...]...
- Legal Education Certificate Introduction This entry provides an overview of the legal framework of legal education certificate, with a description of the most significant features of legal education certificate at international level. Related Work and Conclusions Resources See Also References (Papers) Why Write?, Erwin [...]...
- Free Trade Introduction Free Trade, interchange of commodities across political frontiers without restrictions such as tariffs, quotas, or foreign exchange controls. This economic policy contrasts with protectionist policies that use such restrictions to protect or stimulate domestic industries. See [...]...
- International Trade Commission For more details on United States International Trade Commission, click here.......
- International Trade International Political Economy Trends: International Trade Introduction to International Trade In the 21st century, international trade has grown to 20 percent of the world's total production of goods and services-around $6.5 trillion per year. This volume of trade is almost seven times [...]...
- Customs Clearance In the United States For information about Customs clearance in the context of international trade, click here...
- Airman's Certificate Description of Airman's Certificate Resources See Also Aviation...
- World Trade Organization Unlike GATT, the WTO is a permanent body but not a specialized agency of the United Nations. Introduction to World Trade Organization World Trade Organization (WTO), international body that promotes and enforces the provisions of trade laws and regulations. The World Trade Organization has [...]...
- Cabotage Summary of Cabotage Literally, coastwise navigation, generally used to denote the proscription of foreign flag vessels in a nation's coastwise trade. Since an act of Congress in 1817 (2 Stat. 351), the coastwise trade of the United States has been reserved exclusively to American [...]...
- Capital Account Entries in a nation's balance of payment accounts reflecting long- or shortterm loans made to other countries, or by other countries to the recording nation. See Balance of Payments.......
- Cartel Summary of Cartel An alliance among firms in the same line of business aimed at controlling or dominating their field on an international basis.(Main Author: William J. Miller) Definition of Cartel In accordance with the work A Dictionary of Law, this is a description of Cartel : [...]...
- Central American Common Market Summary of Central American Common Market A free trade area among the nations of Central America, established in 1960 by a treaty between El Salvador, Guatemala, Honduras, and Nicaragua. The common market began operations in 1961, and Costa Rica joined the group in 1962. Honduras dropped [...]...
- Commodity Summary of Commodity A nondifferentiated product produced with commonly available technology.(Main Author: William J. Miller) The Legal History of Commodity in Islamic Law This section provides an overview of Commodity in Islamic Law Commodity in International Trade Meaning of [...]...
- Common Carrier Read Carrier as cross-reference......
- 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 [...]...
- 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 [...]...
- Convertibility Summary of Convertibility The ability of a currency to be exchanged for other currencies in settlement of current account transactions. Currencies are convertible in varying degrees, although the ability of nonresidents freely to purchase and sell a given currency, without governmental [...]...
- Current Account Summary of Current Account An entry in a nation's balance of payments accounts reflecting the purchase of goods or services for consumption immediately or in the near future. See Balance of Payments.(Main Author: William J. Miller) Current Account and International Trade [...]...