Related Entries of the International Encyclopedia:

1. Revocable Letter of Credit Revocable L/C in International Trade Meaning of Revocable L/c, according to the Dictionary of International Trade (Global Negotiator): A letter of credit that can be cancelled or changed by any party at any time without the consent of any other parties. At present there are not revocable L/C; [...]...
2. Deferred Payment Letter of Credit Deferred Payment Letter of Credit in International Trade Meaning of Deferred Payment Letter of Credit, according to the Dictionary of International Trade (Global Negotiator): A letter of credit that is not payable at sight but at a future time....
3. Standby Letter of Credit A guarantee issued by a bank to a firm as security for the actions of a third party; in the event the third party does not perform specified acts (usually the payment of obligations) within a prescribed period, the beneficiary of the credit may unilaterally draw upon the letter of credit in [...]...
4. 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 [...]...
5. 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 [...]...
6. Discount Discount in International Trade Meaning of Discount, according to the Dictionary of International Trade (Global Negotiator): A deduction from an amount due to given consideration of such circumstances as prompt or early payment or an order of unusually large quantity. Selling a receivable or [...]...
7. Back to Back Back to Back Letter of Credit in International Trade Meaning of Back to Back Letter of Credit, according to the Dictionary of International Trade (Global Negotiator): A new letter of credit opened in favour of another beneficiary on the basis of an already existing one, not a transferable [...]...
8. Expiration Date Expiration Date in International Trade Meaning of Expiration Date, according to the Dictionary of International Trade (Global Negotiator): In a letter of credit transaction, the final date the seller (beneficiary of the credit) may present documents and draw a draft under the terms of the [...]...
9. 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 [...]...
10. Exchanger Exchanger Contents Exchanger in the E-Commerce Law An exchanger (also sometimes called a virtual currency exchange) is a person/entity engaged ... Read more...
11. Confirming Bank Confirming Bank in International Trade Meaning of Confirming Bank, according to the Dictionary of International Trade (Global Negotiator): In a letter of credit transaction, the bank that assumes responsibility to the seller (usually the exporter) for payment from the issuing bank (buyer's [...]...
12. Payment Terms Payment Terms in International Trade Meaning of Payment Terms, according to the Dictionary of International Trade (Global Negotiator): That part of a contract that defines when, where, to whom and in what currency the underlying obligation is to be discharged. The exporter will consider the [...]...
13. Discrepancies Discrepancies in International Trade Meaning of Discrepancies, according to the Dictionary of International Trade (Global Negotiator): In the context of letters of credit, discrepancies arises when documents presented under a letter of credit do not conform to the terms of the credit; [...]...
14. Validity Validity in International Trade Meaning of Validity, according to the Dictionary of International Trade (Global Negotiator): The time period for which a letter of credit is valid. After receiving notice of a letter of opened in his behalf, the seller/exporter/beneficiary must meet all the [...]...
15. Remittance Remittance in International Trade Meaning of Remittance, according to the Dictionary of International Trade (Global Negotiator): Funds forwarded from one person to another as payment for bought items or services. Resources See Also Finance Consumer Credit Negotiable Instrument Securities [...]...
16. Straight Straight B/L in International Trade Meaning of Straight B/l, according to the Dictionary of International Trade (Global Negotiator): A non-negotiable bill of lading which specifies the consignee to whom the goods are to be delivered. It is used when payment for the goods has been made in [...]...
17. 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 [...]...
18. About Definition of About in International Trade The following is a concept of About in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A letter of credit term meaning plus or minus 10% of whatever immediately follows. The terms approximately [...]...
19. Letter Of Credit Clause A clause in a marine cargo insurance policy designed to protect an exporter until such time as he is paid under a letter of credit. An exporter selling on an F.O.B. or F.A.S. basis, for example, does not provide marine insurance; this obligation is undertaken by the importer. If the purchaser's ......
20. Letter of Indemnity A document issued by a shipper of merchandise to a steamship line as an inducement for the carrier to issue a clean bill of Lading (read this and related legal terms for further details) where it might not otherwise do s......
21. Trade Finance Trade Finance in International Trade Meaning of Trade Finance, according to the Dictionary of International Trade (Global Negotiator): This is the way in which an exporter requires an importer to prepay for goods ship. The importer wants to reduce risks by asking the exporter to document that [...]...
22. Issuance Issuance in International Trade Meaning of Issuance, according to the Dictionary of International Trade (Global Negotiator): The establishment of a letter of credit by the issuing bank (buyer's bank) based on the buyer's application and credit relationship with the bank. See letter of [...]...
23. Back Letter A letter of indemnity issued by a shipper of cargo to a steamship line to secure issuance of a clean bill of lading where one might not be issued otherwise. For example, a carrier may initially refuse to issue a clean bill of lading for cargo which appears to be damaged; a notation to this [...]...
24. 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, [...]...
25. Pre-advice Pre-advice in International Trade Meaning of Pre-advice, according to the Dictionary of International Trade (Global Negotiator): In letters of credit, at the request of an applicant, the issuing bank may give a pre-advice of issuance and/or amendment of the letter of credit. A pre-advice is [...]...
26. Consumer Lending Consumer Lending regarding Banking Law This content deals with legal and regulatory aspects of Consumer Lending covered in connexion with financial law and banking / lending Institutions....
27. Drawing Drawing in E.U. Patent SystemOne or more specially-prepared figures filed as a part of a patent application to explain and describe the invention. Drawings (or illustrations, where appropriate) are more commonly found with inventions for mechanical or electrical devices. As a rule, chemical [...]...
28. 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 [...]...
29. Offer Summary of Offer In vessel charter transactions, synonymous with Firm Offer (read this and related legal terms for further details).(Main Author: William J. Miller) Best and Final Offer (BFO) in International Trade Meaning of Best and Final Offer (bfo), according to the [...]...
30. Availability Definition of Availability in International Trade The following is a concept of Availability in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): In letters of credit, refers to the availability of documents in exchange for payment of the [...]...
31. Silent Confirmation Silent Confirmation in International Trade Meaning of Silent Confirmation, according to the Dictionary of International Trade (Global Negotiator): In letters of credit, in addition to the commitment of the issuing bank, the advising bank can, by silent confirmation, enter into its own, [...]...
32. Operative Instrument A letter of Credit (read this and related legal terms for further details) transmitted by cable rather than on bank stationery. Customarily a bank may send a telex notification to the beneficiary of the letter of credit ......
33. Shipment Received For Shipment B/L in International Trade Meaning of Received For Shipment B/L, according to the Dictionary of International Trade (Global Negotiator): A bill of lading which confirms the receipt of goods by the carrier, but not their actual loading on board. This document can be [...]...
34. 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 [...]...
35. Hard Money Hard Money (currency) in International Trade Meaning of Hard Money (currency), according to the Dictionary of International Trade (Global Negotiator): Currency of a nation having stability in the country and abroad. Refers to currency that is accepted internationally and freely convertible. [...]...
36. 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 [...]...
37. Cross-Currency Exposure Obligations denominated in terms of a given currency that are not matched by equivalent revenues in terms of that currency. For example, a firm with obligations of 10 million Japanese yen but revenues of only 8 million yen are exposed to the degree that they must purchase, in the foreign exchange ma......
38. Credit Method For more details on Double Taxation, click here.......
39. Credit Tranche A lending facility at the International Monetary Fund for nations suffering balance of payments difficulties. Before borrowing in the credit tranche, a nation must have exhausted its gold tranche facility. The gold tranche is equivalent to the amount of gold that a nation has deposited with the IMF,......
40. Currency Risk The economic risk assumed by a lender or seller who is to be paid in units of a foreign currency that, when translated at some future date into his own currency, he will have sustained a loss (in terms of his own currency) because the foreign currency has depreciated in value prior to settlement of ......
41. 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.......
42. Currency Convertible In Fact A national currency that can be used for the settlement of private transactions, as contrasted with an artificial CURRENCY UNIT (read this legal term for further details), such as special drawing rights, which are used only by governments for t......
43. Credit D´impot A tax credit permitted in Belgium to recipients of certain dividend income in recognition that the corporation paying the dividend has been previously taxed upon the income.......
44. Clean Letter of Credit Synonymous with CLEAN CREDIT.......
45. 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 [...]...
46. Exotic Currency A national currency for which there is not normally a strong demand in the foreign exchange markets. Examples of such currencies are; Eyptian pound, Guyana dollar, and the Nigerian naira.......
47. Fiduciary Currency A currency backed solely by the faith of the government that issues it. The term does not carry the negative import often associated with fiat money (read this and related legal terms for further details). See also Money......
48. Functional Currency The currency primarily employed by a multinational firm in its principal transactions. Normally this is the currency of the nation in which the firm is based. See financial accounting standards board Statement No. 52.......
49. Guest Currency The currency in which a Eurobond (read this and related legal terms for further details) or other financial obligation is issued. The currency is selected to be acceptable to both the foreign borrower and the lender, and......
50. Hard Currency A national currency freely exchangeable into gold or the currencies of other nations.......
51. Reporting Currency The currency used by a multinational firm to prepare its financial statements.......
52. Soft Currency A national currency that, because of exchange controls, is not freely convertible into gold or other currencies. Such controls are usually manifest in officially set rates of exchange that do not reflect the price of the soft currency, were it permitted to trade freely.......
53. Foreign Currency Statement A financial statement prepared using a functional currency other than that in which the firm customarily reports.......
54. Foreign Currency Translation The accounting process employed in expressing, in terms of a firm's reporting currency, those transactions that are denominated in a different currency.......
55. Judgment Currency Clause An indemnification provision commonly included in Eurocurrency loan agreements. The clause specifies that in the event the lender obtains a court award or judgement against the borrower by reason of default or otherwise, and the award is granted in a currency other than that in which the loan is to ......
56. Multiple Currency System Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
57. Bill Of Credit A document requesting or directing the addressee to extend credit to a party stipulated in the letter. The person issuing the letter serves as a guarantor for any credit so extended.......
58. Clean Credit A letter of credit (read this and related legal terms for further details) against which the beneficiary may draw without supplying documents.......
59. Letter of Credit A document issued by a commercial bank committing itself to honor drafts drawn in accordance with the terms of the credit. The party to whom the credit is issued is the beneficiary; the party on behalf of whom the bank issues the credit is the applicant. Letters of credit may be issued as [...]...
60. Sight Credit A letter of credit (read this and related legal terms for further details) under which sight drafts shall be drawn.......
61. Sterling Credit A letter of credit (read this and related legal terms for further details) against which bills of exchange are to be drawn in pounds sterling.......
62. Trade Credit Credit granted by nonfinancial firms, usually in the form of short-term deferral of payment of invoices by customers, e.g., account open sales. Also, trade credit represents the purchase of a firm's accounts receivable or trade acceptances.......
63. Usance Credit Also known as a time credit, a Letter of Credit (q. v.) that provides that the drafts drawn under the credit will mature thirty, sixty, or more days, up to nine months, after sight or date. A letter of credit providing for settlement more than nine months from shipment of the goods is normally in t......
64. Credit Spanish Translation of credit This is the legal translation of English to Spanish in relation to credit and / or a definition of this topic: Haber (in Spanish, without translation of the dictionary entry). Spanish Translation of credit This is the legal translation of English to Spanish in [...]...
65. Credit Guarantees Group on Export Credits and Credit Guarantees in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Group on Export Credits and Credit Guarantees: A subgroup of the OECD Trade .Committee,comprising all OECD [...]...
66. Credit Enhancements Literature Review on Credit Enhancements In the Encyclopedia of Public Administration and Public Policy, [1] Martin J. Luby and Tima T. Moldogaziev provide the following summary about the topic of Credit Enhancements: State and local governments often seek third-party credit enhancement as [...]...
67. Credit Applications Credit Applications in relation with Consumer Lending This content deals with legal and regulatory aspects of Credit Applications covered in connexion with Consumer Lending and banking / lending Institutions....
68. Credit Documents Loan or Credit Documents in relation with Consumer Lending This content deals with legal and regulatory aspects of Loan or Credit Documents covered in connexion with Consumer Lending and banking / lending Institutions....
69. Credit Unions Credit Unions regarding Banking Law This content deals with legal and regulatory aspects of Credit Unions covered in connexion with financial law and banking / lending Institutions....
70. Credit Transactions Third-party Legal Opinions in Credit Transactions in relation with Legal Opinions This content deals with legal and regulatory aspects of Third-party Legal Opinions in Credit Transactions covered in connexion with Legal Opinions and banking / lending Institutions....
71. Credit Disclosure Resources See Also Annual percentage rate Consumer Credit Protection Act Truth-in-Lending Act...
72. Credit Bureau Resources See Also Credit rating Credit report...
73. Credit Sale Resources See Also Installment sale...
74. Credit Insurance Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance Resources See Also Insurance (Credit insurance)...
75. Credit Line Resources See Also Line (Line of credit)...
76. Credit Cooperative Resources See Also Credit Union Cooperative Collective...
77. Credit Union Resources See Also Credit Union Cooperative Collective...
78. Credit Policy Resources See Also Economic Development Social development...
79. Credit Control Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...
80. Credit Guarantee Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...
81. Credit System Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...
82. Commodity Credit Corporation A Federally chartered corporation controlled by the U.S. government and administered as a part of the Department of Agriculture. In addition to various domestic agricultural stabilization efforts, the CCC administers three foreign sales promotion programs.......
83. Deferred Payment Credit Any letter of CREDIT (read this and related legal terms for further details) that provides for payment to the beneficiary at any point in time later than sight.......
84. Delayed Payment Credit A letter of CREDIT (read this and related legal terms for further details) under which the beneficiary submits his draft after having supplied shipping papers or other documents. This form of letter of credit usually pro......
85. Irrevocable Letter of Credit See Letter of Credit.......
86. Transferable Letter of Credit A Letter Of Credit (read this and related legal terms for further details) that is transferable from the original beneficiary to a subsequent beneficiary. This type of credit is used when the original beneficiary is a br......
87. Unconfirmed Letter of Credit See Letter of Credit.......
88. Credit Card Fraud Credit Card Fraud......
89. Credit Card Agreements Credit Card Agreements and the Electronic Commerce Credit Card Agreements in the Online Business Law Resources See Also PPC Advertising Social Networking Online Business Law Internet Law Spam Startups Internet Tax Crossborder Commerce Technology Law Terms of Use ...
90. Credit Risk Insurance Credit Risk Insurance in International Trade Meaning of Credit Risk Insurance, according to the Dictionary of International Trade (Global Negotiator): Insurance designed to cover risks of nonpayment for delivered goods....
91. Credit Card Arrangements Credit Card Arrangements in relation with Consumer Lending This content deals with legal and regulatory aspects of Credit Card Arrangements covered in connexion with Consumer Lending and banking / lending Institutions....
92. Credit Card Programs Serving of Credit Card Programs in relation with Consumer Lending This content deals with legal and regulatory aspects of Serving of Credit Card Programs covered in connexion with Consumer Lending and banking / lending Institutions....
93. Currency Currency in International Trade Meaning of Currency, according to the Dictionary of International Trade (Global Negotiator): The circulating media of exchange in a country. Includes money and such financial instruments as checks. Resources See Also Public Finance Public Policy Tax Law [...]...
94. 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 [...]...
95. Currency Controls Currency Controls and International Trade Resources See Also exchange controls...
96. Convertible Currency Convertible Currency in International Trade Meaning of Convertible Currency, according to the Dictionary of International Trade (Global Negotiator): A currency of a nation that may be exchanged for that of another nation without restrictions. Countries with convertible currencies typically [...]...
97. Currency Future Currency Future in International Trade Meaning of Currency Future, according to the Dictionary of International Trade (Global Negotiator): A contract for the future delivery of a commodity, currency, or security on a specific date. In contrast to forward contracts, future contracts are for [...]...
98. Currency Option Currency Option in International Trade Meaning of Currency Option, according to the Dictionary of International Trade (Global Negotiator): The contractually agreed right to buy (call option) or to sell (put option) a specific amount of foreign currency at a predetermined price on a specific [...]...
99. Common Currency Common Currency and Europe There is an entry on common currency in the European legal encyclopedia. Resources See Also Further Reading Entry "Common Currency" in the work "A Concise Encyclopedia of the European Union from Aachen to Zollverein", by Rodney Leach (Profile [...]...
100. Currency Area Optimum Currency Area and Europe There is an entry on optimum currency area in the European legal encyclopedia. Resources See Also Further Reading Entry "Optimum Currency Area" in the work "A Concise Encyclopedia of the European Union from Aachen to Zollverein", by Rodney [...]...
101. Asian Currency Units A unit of account, employed in some Asian banks, equal to the U.S. dollar.The Asian currency unit arose to circumvent banking regulations which prohibited accounts denominated in terms of foreign currency.......
102. 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......
103. Foreign Currency Transaction For accounting purposes, a transaction stated in terms of a currency other than the firm's functional currency. The purchase or sale of goods priced in terms of a foreign currency and the lending or borrowing of foreign funds represent such transactions.......
104. Acceptance Credit Acceptance Financing is considered here.......
105. Full Tax Credit For more details on Double Taxation, click here.......
106. Tax Credit Methods For more details on Double Taxation, click here.......
107. Consumer Credit What is Consumer Credit in relation with Consumer Lending This content deals with legal and regulatory aspects of What is Consumer Credit covered in connexion with Consumer Lending and banking / lending Institutions....
108. Back-To-Back Letter Of Credit A letter of credit raised to purchase goods that will be sold under a different letter of credit. A broker or other intermediary who is the beneficiary under a customer's letter of credit may use that credit as collateral to open a second letter of credit to actually purchase the goods it plans ......
109. Shipper's Credit Agreement An arrangement by which certain conferences grant terms usually fourteen to thirty days, for freight services performed by member carriers. Customarily the shipper provides the CONFERENCE (read this legal term for further details) with bank and cr......
110. Confirmed Letter of Credit Confirmed Letter of Credit in International Trade Meaning of Confirmed Letter of Credit, according to the Dictionary of International Trade (Global Negotiator): A letter of credit that contains a guarantee on the part of both the issuing and de advising banks of payment to the seller so long [...]...
111. Commercial Letters of Credit Commercial Letters of Credit in relation with Letters of Credit This content deals with legal and regulatory aspects of Commercial Letters of Credit covered in connexion with Letters of Credit and banking / lending Institutions....
112. Consumer Credit Protection Act Resources See Also Annual percentage rate Equal Credit Opportunity Act Fair Credit Billing Act Fair Credit Reporting Acts Fair Debt Collection Practices Act Truth-in-Lending Act Uniform Consumer Credit Code...
113. Circular Letter of Credit Resources See Also Letter of credit...
114. Commercial Letter of Credit Resources See Also Letter of credit...
115. International Currency Trends in International Political Economy: International CurrencyIntroduction to International CurrencyExplosive growth in the exchange of foreign currencies in international markets has also transformed the global political economy (see foreign exchange). Advanced telecommunicatio......
116. Virtual Currency Virtual currency is a digital representation of value that can be traded on the Internet and functions as: a medium of exchange; a unit of account; and/or a store of value, but does not have legal tender status in any jurisdiction. Virtual currency is distinguished from fiat [...]...
117. National Currency National Currency in the E-Commerce Law Fiat Currency (a.k.a. “real currency,” “real money,” or “national currency”), is the coin and paper money of a country that is designated as its legal tender; circulates; and is customarily used and accepted as a medium of exchange in the issuing [...]...
118. 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 [...]...
119. 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 [...]...
120. Single Currency Single Currency and Europe There is an entry on single currency in the European legal encyclopedia. Resources See Also Further Reading Entry "Single Currency" in the work "A Concise Encyclopedia of the European Union from Aachen to Zollverein", by Rodney Leach (Profile [...]...