Contents
Extensions of Credit
In the United States
For information about Extensions of credit in the context of international trade, click here
Resources
See Also
Further Reading
- Information about Extensions of Credit in the Encyclopedia of World Trade: from Ancient Times to the Present (Cynthia Clark Northrup)
Extensions of Credit and the Laws of International Trade
Limitations on extensions of credit in the United States: the Webb-Pomerene Act of 1918 and the Export Trading Company Act of 1982
Export Trade Companies and the Export Trade Certificates
Related Entries of the International Encyclopedia:
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- 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 [...]...
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- 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, [...]...
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- 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 [...]...
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- Export Credit Resources See Also Industry Industrial Unionism Labor Law Industrial Disputes Business Law...
- Export Credit Insurance Export Credit Insurance in International Trade Meaning of Export Credit Insurance, according to the Dictionary of International Trade (Global Negotiator): Special insurance coverage for exporters to protect against non payment by the importer (coverage may extend to certain other risks, [...]...
- 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 [...]...
- 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.......
- Acceptance Letter of Credit Definition of Acceptance Letter of Credit in International Trade The following is a concept of Acceptance Letter of Credit in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A letter of credit, which requires, amongst the documents [...]...
- Advised Letter of Credit Definition of Advised Letter of Credit L/c in International Trade The following is a concept of Advised Letter of Credit L/c in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A letter of credit whose terms and conditions have been [...]...
- Evergreen Letter of Credit Evergreen Letter of Credit in International Trade Meaning of Evergreen Letter of Credit, according to the Dictionary of International Trade (Global Negotiator): A letter of credit that automatically renews itself beyond its stated expiration....
- Foreign Credit Insurance Association An association of fifty U.S. insurance companies that operates in conjunction with the EXPORT-IMPORT bank (read this and related legal terms for further details), or Eximbank, to insure commercial risks associated with e......
- Acceptance Credit Acceptance Financing is considered here.......
- 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.......
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- Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
- 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.......
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- 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.......
- 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......
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- Advice of Credit Description of Advice of Credit Resources See Also Advice Banks Banking...
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- Clean Letter of Credit Synonymous with CLEAN CREDIT.......
- 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.......
- 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......
- Foreign Tax Credit System A taxing scheme which permits a firm to offset income tax liabilities in its home country by applying sums paid to foreign tax authorities as credits against the domestic tax burden. For example, if an American firm doing business in Canada paid one million dollars in income taxes to the Canadian go......
- Irrevocable Letter of Credit See Letter of Credit.......
- 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 ......
- 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......
- 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 [...]...
- 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......
- Unconfirmed Letter of Credit See Letter of Credit.......
- Credit Card Fraud Credit Card Fraud......
- 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 [...]...
- 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 ...
- 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....
- Restricted Letter Credit Restricted Letter Credit in International Trade Meaning of Restricted Letter Credit, according to the Dictionary of International Trade (Global Negotiator): A letter of credit, the negotiation of which is restricted to a bank specially mentioned in the letter. See letter of credit....
- 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; [...]...
- Revolving Letter of Credit Revolving L/C in International Trade Meaning of Revolving L/c, according to the Dictionary of International Trade (Global Negotiator): A letter of credit which is automatically restored to its full amount after the completion of each documentary exchange....
- Usance Letter of Credit Usance L/C in International Trade Meaning of Usance L/c, according to the Dictionary of International Trade (Global Negotiator): A letter of credit payable at a predetermined time after the presentation of conforming documents. These are also called time L/C or deferred payment L/C and are the [...]...
- Stand-by Credit Arrangement Embracing mainstream international law, this section on stand-by credit arrangement explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "stand-by credit arrangement" in the Parry and Grant Encyclopaedic Dictionary of [...]...
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