Related Entries of the International Encyclopedia:

1. Customs Broker Customs Broker in International Trade Meaning of Customs Broker, according to the Dictionary of International Trade (Global Negotiator): Licensed agent or broker (licensing may not be required in all countries) whose function is to handle the process of clearing goods through customs for importers....
2. Customs Area Customs Area in International Trade Meaning of Customs Area, according to the Dictionary of International Trade (Global Negotiator): A geographic area, usually identical to one or several contiguous national political jurisdictions, applying a particular tariff schedule on goods entering or [...]...
3. 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...
4. 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 [...]...
5. European Option European Option in International Trade Note: there is more information about this term in the European legal Encyclopedia. Meaning of European Option, according to the Dictionary of International Trade (Global Negotiator): A foreign exchange type of contract containing a provision to the [...]...
6. Customs Entry Read Entry (Customs) as cross-reference.......
7. 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 [...]...
8. 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.......
9. Trade Facilitation Trade Facilitation in International Trade Meaning of Trade Facilitation, according to the Dictionary of International Trade (Global Negotiator): Removing obstacles to the movement of goods across borders (e.g. simplification of customs procedures). The International Law of Customs: Trade [...]...
10. Customs Bonded Warehouse Customs Bonded Warehouse in International Trade Meaning of Customs Bonded Warehouse, according to the Dictionary of International Trade (Global Negotiator): A government warehouse where goods remain until duty has been collected from the importer....
11. 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. [...]...
12. 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 [...]...
13. Confirming Confirming in International Trade Meaning of Confirming, according to the Dictionary of International Trade (Global Negotiator): A financial service in which an independent company confirms an export order in the seller's country and makes payment for the goods in the currency of that [...]...
14. Consignee The person or firm to whom goods are shipped under a bill of lading (read this and related legal terms for further details) and so named in the bill.......
15. Clearance The completion of customs formalities including, but not limited to, the physical examination of imported merchandise, and the submission of documents necessary to permit the release of merchandise from customs control to the importer.......
16. Trade Terms Trade Terms in International Trade Meaning of Trade Terms, according to the Dictionary of International Trade (Global Negotiator): The terms of a sale. The setting of responsibilities of the buyer and the seller in a sale, including: sale price, responsibility for shipping, insurance and [...]...
17. 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 [...]...
18. 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 [...]...
19. Free Trade Zone Spanish Translation of free trade zoneThis is the legal translation of English to Spanish in relation to free trade zone and / or a definition of this topic: Zona de Libre Comercio (in Spanish, without translation of the dictionary entry)....
20. Importer In the United States For information about Importer in the context of international trade, click here...
21. Cartment Cartment in International Trade Meaning of Cartment, according to the Dictionary of International Trade (Global Negotiator): Customs form permitting in bond cargo to be moved from one location to another under customs control, within the same customs district. Usually in motor carrier's [...]...
22. 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 [...]...
23. Call Option Spanish Translation of call option This is the legal translation of English to Spanish in relation to call option and / or a definition of this topic: Opción de Compra (in Spanish, without translation of the dictionary entry). Call Option in International Trade Meaning of Call Option, [...]...
24. Spot Exchange Rate Spot Exchange Rate in International Trade Meaning of Spot Exchange Rate, according to the Dictionary of International Trade (Global Negotiator): The price of one currency expressed in terms of another currency at a given moment in time....
25. Counterpurchase A form of countertrade (read this and related legal terms for further details) in which two parties agree to purchase specified quantities of merchandise from each other at a fixed price. The effect is that each party si......
26. Revaluation Revaluation in International Trade Meaning of Revaluation, according to the Dictionary of International Trade (Global Negotiator): The increase of the value (restoration) of a nation's currency (that had once been devalued) in terms of the currency of another nation....
27. 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).......
28. Intrastat Intrastat in International Trade Meaning of Intrastat, according to the Dictionary of International Trade (Global Negotiator): This is the system for collecting statistical data on the trade between members States of European Union (EU). When a country becomes a member state of the EU, the [...]...
29. 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 [...]...
30. Weight W/M in International Trade Meaning of W/m, according to the Dictionary of International Trade (Global Negotiator): Weight or measurement is a method of quoting freight rates: 1. for sea freight, per metric ton (1.000 kilograms) or per cubic meter (35.3 cubic feet) whichever is greater; 2. for [...]...
31. Vostro Account Funds denominated in local currency that a foreign bank holds in a local bank. ......
32. Consignment Summary of Consignment Goods in transit under a bill of lading (read this and related legal terms for further details)(Main Author: William J. Miller) Consignment in International Trade Meaning of Consignment, according to the Dictionary of International Trade (Global [...]...
33. Zone Restricted Status A condition accorded to goods entered into a Foreign Trade Zone (read this and related legal terms for further details) solely for destruction or exportation to another country. These goods may not be manipulated or proc......
34. Put Option Spanish Translation of put optionThis is the legal translation of English to Spanish in relation to put option and / or a definition of this topic: Opción de Venta (in Spanish, without translation of the dictionary entry)....
35. 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 [...]...
36. Entrepot A warehouse or storage facility where foreign merchandise may be deposited and withdrawn for re-export without incurring customs duties.......
37. Forward Exchange Option Forward Exchange Option in International Trade Meaning of Forward Exchange Option, according to the Dictionary of International Trade (Global Negotiator): A contractually agreed right to buy (put) or to sell (call) a specific amount of one currency for a specified amount of another [...]...
38. Dirty Float Also known as managed float, the process whereby national monetary authorities intercede in the foreign exchange markets to prevent significant fluctuations in the values of their own or other currencies. The process is accomplished by selling reserves of currencies rising in value, or the [...]...
39. Wco Wco in International Trade Meaning of Wco, according to the Dictionary of International Trade (Global Negotiator): The World Customs Organization is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of customs administrations. With over 90 [...]...
40. 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 [...]...
41. Spot Market A market for commodities or currency in which the sale results in an immediate or nearly immediate exchange of the goods or instruments for cash, as compared with a futures market, which trades in contracts for the future delivery of the product.......
42. 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 [...]...
43. Counterfeit Counterfeit in International Trade Meaning of Counterfeit, according to the Dictionary of International Trade (Global Negotiator): Unauthorized representation of a registered trademark carried on goods identical or similar to goods for which the trademark is registered, with a view to [...]...
44. Fixing Fixing in International Trade Meaning of Fixing, according to the Dictionary of International Trade (Global Negotiator): In foreign exchange, establishing of the official exchange rate of a domestic currency against other negotiable currencies....
45. European Terms An expression of the value of any foreign currency in terms of how many units equal one dollar; effective September 1, 1979, most New York banks employed this foreign currency method for transactions.......
46. Combined Nomenclature Combined nomenclature (CN) and the Treaties of the European Union Description of Combined nomenclature (CN) provided by the European Union Commission: A systematic list of goods descriptions based on the Harmonized System, serving for the purposes of the Common Customs Tariff, external trade [...]...
47. Cartage The transfer of merchandise locally, e.g., from a pier to a nearby warehouse; also, the charge for cartage services.......
48. Forward Exchange Contract An agreement to exchange, at a specified future date, a fixed number of units of one currency for a fixed number of units of another currency. Such contracts are often procured by merchants when they must settle future accounts in a foreign currency and wish to protect against possible losses [...]...
49. 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. ......
50. Commercial Invoice Commercial Invoice in International Trade Meaning of Commercial Invoice, according to the Dictionary of International Trade (Global Negotiator): The document recording a transaction between the seller and the buyer. Commercial invoices are normally prepared by sellers, and should include the [...]...
51. Vat Vat Vat in International Trade Meaning of Vat, according to the Dictionary of International Trade (Global Negotiator): The Value Added Tax is a tax assessed on the increased value of goods as they pass from raw material stage through the production and distribution processes to final [...]...
52. Central Rate Each currency affiliated with the EUROPEAN monetary system (read this and related legal terms for further details) is assigned a value in terms of the European currency unit (ECU). The central rate is the range within wh......
53. Forward Rate Forward Rate in International Trade Meaning of Forward Rate, according to the Dictionary of International Trade (Global Negotiator): The price of a foreign currency that is bought or sold for delivery and payment at a fixed future time, usually 30, 60 or 90 days. Forward transactions enable [...]...
54. Tir Carnet Tir Carnet in International Trade Meaning of Tir Carnet, according to the Dictionary of International Trade (Global Negotiator): A document issued pursuant to the TIR (Transport International Routier) permitting sealed road transport shipments to traverse European TIR-members countries without [...]...
55. Export Contract Export Contract in International Trade Meaning of Export Contract, according to the Dictionary of International Trade (Global Negotiator): The export contract is used for the international sale of certain products (industrial supplies, raw materials, manufactured goods), which are projected [...]...
56. Outright Outright in International Trade Meaning of Outright, according to the Dictionary of International Trade (Global Negotiator): In foreign exchange, a forward purchase or sale of currency which is not offset by a corresponding spot transaction. i.e. which has not been contracted through swaps. [...]...
57. Bonded Warehouse Summary of Bonded Warehouse A warehouse storage area, or manufacturing facility in which imported merchandise may be stored or processed without payment of customs duties. Such premises are operated by a warehouse proprietor who holds a license from the U. S. Customs Service. Bonded [...]...
58. Confirming House A commercial institution engaged in nonrecourse financing of foreign trade. The confirming house may confirm a foreign buyer's order, acting as guarantor of payment to the seller; in some cases, the confirming house may actually take title to the goods as agent for the foreign purchaser, [...]...
59. Gold Standard Summary of Gold Standard A system under which a nation's currency is freely convertible into gold. The quantity of gold per unit of currency is fixed by law. Most major trading nations, however, abandoned the gold standard because of the constraints it imposes upon liquidity, although [...]...
60. Global Quota See Quota.......
61. Container Freight Station A warehouse or terminal licensed by U.S. Customs to receive in-bond consolidations of containerized cargo. The containers delivered to this station carry imported merchandise in small lots destined to many consignees; the goods will be removed from the containers under customs supervision and [...]...
62. Border Protection Customs Border Protection ...
63. Border Tax Adjustment Border Tax Adjustment (BTA) in International Trade Meaning of Border Tax Adjustment (BTA), according to the Dictionary of International Trade (Global Negotiator): A tax to which domestically produced goods and imports are subject but from which exports are exempt. Border tax adjustments are [...]...
64. Terms of Sale Terms of Sale in International Trade Meaning of Terms of Sale, according to the Dictionary of International Trade (Global Negotiator): This expression refers to the price quotation for a specific product. It states the price for the product as a specified delivery location, sets the time of [...]...
65. 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 [...]...
66. 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 [...]...
67. Customs Border Protection In the United States For information about Customs Border Protection in the context of international trade, click here...
68. Dangerous Goods Declaration Dangerous Goods Declaration in International Trade Meaning of Dangerous Goods Declaration, according to the Dictionary of International Trade (Global Negotiator): Shippers of dangerous goods are required to declare them to carriers per the International Air Transport Association (IATA) and the [...]...
69. Nes Nes in International Trade Meaning of Nes, according to the Dictionary of International Trade (Global Negotiator): Not elsewhere specified is used for an item that is not mention elsewhere in a classification system, such as a customs or freight tariff. Similar to NESOI (Not elsewhere [...]...
70. 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 [...]...
71. 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 [...]...
72. 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.......
73. Currency Controls Currency Controls and International Trade Resources See Also exchange controls...
74. 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 [...]...
75. 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 [...]...
76. 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......
77. 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 [...]...
78. Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
79. 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 ......
80. 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 [...]...
81. 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 [...]...
82. 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 [...]...
83. 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 [...]...
84. Local Currency Resources See Also Public Finance Public Policy Tax Law Financial Regulation...
85. 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......
86. Foreign Currency Account Foreign Currency Account in International Trade Meaning of Foreign Currency Account, according to the Dictionary of International Trade (Global Negotiator): An account maintained in a foreign bank in the currency of the country in which the bank is located. When such accounts are kept, they [...]...
87. 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.......
88. 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......
89. 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.......
90. 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......
91. Hard Currency A national currency freely exchangeable into gold or the currencies of other nations.......
92. 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.......
93. 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......
94. 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 [...]...
95. 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 [...]...
96. Money and Currency Money and Currency in Private International Law This section contain conflict of laws information and cross references related to money and currency on some major countries and additional jurisdictions. It covers key issues involved when citizens face international situations. Information on [...]...
97. Artificial Currency Unit An international standard of value created by a multilateral agreement. An artificial currency unit (ACU) is not a currency in the conventional sense in that it cannot be used to settle private transactions. An ACU is given a value in terms of a basket of various national currencies in fixed or vari......
98. 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.......
99. 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......
100. Foreign Currency Statement A financial statement prepared using a functional currency other than that in which the firm customarily reports.......
101. 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.......
102. 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.......
103. General Asset Currency Bank notes secured not by specific assets, e.g., gold or foreign currency on deposit, but by the overall assets of the issuer.......
104. 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 ......
105. Multiple Currency System Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
106. Convertible virtual currency Contents Convertible (or open) virtual currency Convertible (or open) virtual currency may be either centralized or decentralized. Convertible virtual currency ... Read more...
107. Reporting Currency The currency used by a multinational firm to prepare its financial statements.......
108. 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 [...]...
109. European Currency Unit Summary of European Currency Unit The European Monetary System is considered here.(Main Author: William J. Miller) European Currency Unit and the European Union Resources See Also ECU...
110. Closed Virtual Currency Contents Closed Virtual Currency Closed Virtual Currency in the E-Commerce Law Non-convertible (or closed) virtual currency is specific toa particular ... Read more...
111. European Currency Unit (ECU) European Currency Unit (ECU) and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of European Currency Unit (ECU): A unit of value based on a "currency basket" comprising specific amounts of the [...]...
112. 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 [...]...
113. Customs Invoice Read Invoice as cross-reference.......
114. Customs Union Summary of Customs Union An arrangement among participating countries whereby tariffs are eliminated or virtually eliminated on products moving between members, and a common external tariff (read this and related legal terms for further details) is adopted to provide uniform treatment to [...]...
115. Customs Valuation For importers, the process of estimating the value of a product at customs presents problems that can be just as serious as the actual duty rate charged. The WTO agreement on customs valuation aims for a fair, uniform and neutral system for the valuation of goods for customs purposes — a system that conforms to commercial realities, and which outlaws the use of arbitrary or fictitious customs values. The Committee...
116. 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, [...]...
117. Customs Duty Spanish Translation of exemption from customs dutyThis is the legal translation of English to Spanish in relation to exemption from customs duty and / or a definition of this topic: Franquicia Aduanera (in Spanish, without translation of the dictionary entry)....
118. 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 [...]...
119. Customs Clearance In the United States For information about Customs clearance in the context of international trade, click here...
120. Cut-off Time Cut-off Time in International Trade Meaning of Cut-off Time, according to the Dictionary of International Trade (Global Negotiator): The latest time cargo may be delivered to a terminal for loading to a scheduled train or ship....