Related Entries of the International Encyclopedia:

1. Community Preference Summary of Community Preference A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Community Preference and Europe There is an entry on community [...]...
2. Common Financing A feature of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
3. Standard Price The target price (read this and related legal terms for further details) for tobacco under the Common Agricultural Policy of the European Economic Community.......
4. Basel Agreement An agreement, concluded April 24, 1972, among members of the European Economic Community for the purpose of narrowing the margins of fluctuation among community currencies. Participants in the agreement were Belgium, Germany, France, Luxembourg, Italy, and the Netherlands. The agreement served as th......
5. Buyer's Premium A subsidy offered by a member state of the European Economic Community to domestic tobacco processors to encourage the use of EEC, rather than imported, tobaccos. The program, which is a feature of the common AGRICULTURAL POLICY (...
6. Entry Price Under the common agriculture POLICY (read this and related legal terms for further details) of the European Economic Community, the price at which certain imported agricultural products enter EEC commerce. If the entry p......
7. Minimum Import Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, Gate price (read this and related legal terms for further details).......
8. Monetary Compensatory Amounts Settlements between member states of the European Economic Community to reflect the market rate of currencies used in agricultural transactions and the periodically revised Green Rate (read this and related legal terms for f......
9. Offshore Finance Company Synonymous with Foreign Base Finance Company (read this and related legal terms for further details).......
10. Green Rate A special rate of exchange used in converting agricultural prices fixed in units of account into national currencies, within the framework of the Common Agricultural Policy (read this and related legal terms for further deta......
11. Guide Price As used in conjunction with the European Economic Community's Common Agricultural Policy on cattle and calves, it is synonymous with Orientation Price (read this and related legal terms for further details).......
12. Schuman Plan Summary of Schuman Plan A series of proposals for the pooling of European coal and steel resources as a vehicle for European economic recovery and integration, advanced by Robert Schuman of France in 1950. Schuman's plan was accepted by the governments of Belgium, Luxembourg, the [...]...
13. Intervention Price The price at which the European Economic Community, in accordance with the Common Agricultural Policy (read this and related legal terms for further details), will intervene in the market to buy excess agricultural produ......
14. Orientation Price As used in conjunction with the Common Agricultural Policy of the European Economic Community it is the target price (read this and related legal terms for further details) for cattle and calves, i.e., the equilibrium pr......
15. Single Market Summary of Single Market A component feature of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Single Market and Europe There is an entry on single market in the European [...]...
16. Nonprivileged Foreign Status The condition of imported merchandise entered into a Foreign Trade Zone (read this and related legal terms for further details), other than goods that have been granted privileged foreign status (...
17. East- West Trade A general reference to trade between the industrial nations of the West, particularly those nations that are members of the Organization for Economic Cooperation and Development ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
18. Minimum List A statistical classification system for foreign trade advanced by the League of Nations. The report entitled Minimum List of Commodities for International Trade Statistics was published in 1938. Following World War II, it was superseded by the United Nations standard international Trade Classificati......
19. Trade Agreements Act Of 1962 An act that authorized the president, during the period of July 1, 1962, through June 30, 1967, to reduce or eliminate certain tariffs in return for similar concessions on the part of other trading nations. The act was largely in response to the elimination of internal duties by members of the Europ......
20. Purchase Price Defined in 19 U.S.C. 162 as the price at which imported merchandise has been purchased, or will be purchased, prior to exportation. It is usually based on the ex factory price excluding any export duties levied in the country of manufacture. Within the framework of the European Economic Community......
21. Foreign Entity Within the meaning of financial Accounting Standards Board Statement No. 8 (read this and related legal terms for further details) relative to accounting for foreign currency transactions, aforeign entity is an affiliate......
22. 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......
23. Selective Safeguards In European usage, a synonym for a bilateral restraint agreement (read this and related legal terms for further details).......
24. Tramp A vessel that offers nonscheduled service between such ports as afford cargoes of opportunity. Unlike a Liner (read this and related legal terms for further details), a tramp seeks to acquire a full load from one shipper......
25. Collective Reserve Unit An artificial currency unit proposed in 1965 by Valéry Giscard d'Estaing of France. The cru, as it was known, was to have been linked to gold to create international reserves. The GROUP OF ten (read this and relat......
26. European Payments Union Summary of European Payments Union An intra-European mechanism for the periodic settlement of trade balances. The EPU was established July 1, 1950, among the members of the Organization for European Economic Cooperation (read this and related legal terms for further details) (OEEC) to [...]...
27. Intervention Summary of Intervention A process within the framework of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community whereby the EEC will purchase certain commodities currently selling below a stipulated target price. The price [...]...
28. Reference Price A mechanism of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community designed to prevent disruptive import competition for certain vegetables, fruits, f......
29. Restitutions Export and producer subsidies granted by the European Economic Community to EEC farmers and processors. The subsidies are a feature of the Common Agricultural Policy (read this and related legal terms for further details......
30. Target Price An important concept within the common agricultural policy (read this and related legal terms for further details) of the European Economic Community. It represents an optimum wholesale price within the community for a g......
31. Visby Amendment A proposed revision to the Hague Agreement (read this and related legal terms for further details) of 1924 on the liability of ocean carriers for loss and damage to cargo. The Visby Amendment does not contemplate materia......
32. Yo-Yo Effect A condition that arises under the rules of Financial Accounting Standards Board Statement No. 8 (read this and related legal terms for further details) when a foreign company's total monetary assets differ from its t......
33. Compensatory Tax A special import levy imposed by the European Economic Community upon certain agricultural imports when the entry price of such products falls below a reference, or minimum target, price and the import is priced so as to reflect an export subsidy. Compensatory taxes are institutionalized in the [...]...
34. Green Clause A provision in a letter OF CREDIT (read this and related legal terms for further details) similar to a RED CLAUSE (read this and related legal t......
35. Group Of Twenty-Four A block of less developed nations that has called for the allocation of 45 percent of the voting quota at the international Monetary Fund (read this and related legal terms for further details) to Third World nations. Cu......
36. International Reserves Gold, hard currencies, and special drawing rights (read this and related legal terms for further details) issued by the international monetary fund (...
37. Real Property Holding Company A foreign corporation (i.e., not chartered in the United States) in which a Domestic International Sales Corporation (read this and related legal terms for further details), or DISC, controls more than 50 percent of the ......
38. Unilinear Tariff Synonymous with general TARIFF (read this and related legal terms for further details). Union D'Assureurs Des Credits Inter- Nationaux. The full, formal name of the Berne Union (...
39. Column 2 Rate The rate of duty applied by U.S. Customs to imports from nations not enjoying Most Favored Nation (read this and related legal terms for further details) status. The Column 2 rate is the statutory rate of duty provided i......
40. Gold Tranche Position A drawing of foreign exchange from the international monetary FUND (read this and related legal terms for further details), by a member nation up to or equal with that country's gold on deposit with the IMF. In effec......
41. Safeguard Measures Actions taken by a nation to protect its domestic industry and commerce from what it views as unfair or improper practices by a trading partner. For example, a trading partner's use of improper subsidies designed to artificially stimulate exports might result in such safeguard measures as the im......
42. Treaty of Rome Treaty Of Rome Summary of Treaty Of Rome The document, signed at Rome in 1957 (effective January 1, 1958), by which the six founding states established the European Economic Community (read this and related legal terms for further details). (Main Author: William J. Miller) The Treaty of [...]...
43. Berth No Berth A stipulation that may be included in a vessel charter party (read this and related legal terms for further details) providing that if the point of loading or discharge is a berth, and if the berth is not immediately ava......
44. Pivot Charge The minimum charge imposed by an air carrier for the use of a Unit Load Device (read this and related legal terms for further details), or air container. The charge is based upon a Pivot Weight (...
45. Notional Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the price the goods "ought to fetch" under specified conditions; this view was widely held for many years and was embraced in the Brussels Definition Of Value (...
46. Tariff (Customs) A document issued by a nation's customs authority principally for the purpose of specifying rates of duty to be applied on various imported products. A tariff customarily also includes quantitative restrictions (quotas) upon certain imports, preferential duties on products imported from specifie......
47. Cooley Loans Foreign-currency-denominated loans by the U.S. government to foreign nations to permit the purchase of American agricultural commodities. The loans are authorized by an amendment to the Agricultural Trade Development and Assistance Act (...
48. Group Of Ten Also known as the Paris Club, the ten principal trading nations. The group, consisting of the United States, Great Britain, Federal Republic of Germany, France, Japan, Italy, Belgium, the Netherlands, Canada, and Sweden, derived the name from a 1962 General Agreement to Borrow signed to make U.S. $6......
49. Gate Price The minimum price at which pork, poultry, and eggs werw permitted to enter the European Economic Community under the common AGRICULTURAL POLICY (read this and related legal terms for further details) without imposition o......
50. Nonprivileged Domestic Status The condition of merchandise of U.S. origin entered into a foreign trade zone (read this and related legal terms for further details), other than goods that have been granted privileged domestic STATUS (...
51. Coastwise Option A provision of the carriage OF GOODS BY SEA ACT (read this and related legal terms for further details) (COGSA) which permits COGSA to be incorporated into bills of lading covering shipments in the domestic maritime comm......
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. Chicken War A protracted dispute between the United States and the European Economic Community arising from the adoption of Europe's COMMON AGRICULTURAL POLICY (read this and related legal terms for further details) on chicken i......
54. Developed Countries Summary of Developed Countries A generalized grouping of the industrialized nations. Customarily, the term is applied to those nations that are members of the organization for economic cooperation And Development (read this and related legal terms for further details) plus the [...]...
55. Freely Offered Goods offered in the normal course of trade to all buying on essentially the same basis, e.g., with like prices, terms, discounts, et cetera. Under prior valuation schemes, the value at which the goods were "freely offered" served as the basis for the assessment of customs duties; this con......
56. Reciprocal Trade Agreements Program An act of Congress which authorized the president to reduce tariffs in exchange for like concessions by trading partners. The Reciprocal Trade Agreements Act of 1934, enacted as an amendment to the Smoot-Hawley Act (read thi......
57. Superimposed Clause A notation on the face of a Bill Of lading (read this and related legal terms for further details) that indicates a defect in the cargo or its mode of transport. Such notations include "received in damaged condition......
58. Acceptance House A nonbank financial institution that specializes in acceptance financing (read this and related legal terms for further details).......
59. Column 1 Rate The rate of duty applied by U.S. Customs to imports from nations enjoying Most Favored Nation (read this and related legal terms for further details) status. See TARIFF (CUSTOMS); Tariff Schedules of the United States.......
60. Covered Transaction A transaction denominated in terms of a foreign currency, payable at a future date, in which protection against loss on exchange has been procured, usually in the form of a Forward Exchange Contract (read this and related le......
61. Tokyo Declaration The pronouncement of a 1973 gathering in Tokyo of foreign, finance, and trade ministers of the major industrial nations, meeting to discuss economic and trade problems. The joint communique issued by the ministers called for increased trade through the elimination of tariff and nontariff [...]...
62. Variable Import Levy A duty applicable to imports of certain significant agricultural commodities into the European Economic Community. The Common Agricultural Policy (read this and related legal terms for further details). of the EEC specif......
63. Berth A stipulation in a vessel charter party (read this and related legal terms for further details) that laytime ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms ......
64. Domestication The process whereby foreign investors are forced, by governmental sanction, to relinquish their control or interest in local enterprises to local nationals. The term can be applied to an Expropriation (read this and related ......
65. Economic Nationalism A conscious, articulated national drive toward economic self-sufficiency. Economic nationalism is comparable to Autarchy (read this and related legal terms for further details) but does not mandate the economic isolation......
66. Free Of Address A condition in some charter parties stipulating that no address commission (read this and related legal terms for further details) will be paid.......
67. Freight Broker Synonymous with Cargo Broker (read this and related legal terms for further details), in vessel charter transactions.......
68. Full And Down The condition of a vessel that is down to marks, i.e., loaded up to the maximum LOAD-LINE (read this and related legal terms for further details) capacity as well as having all cargo- carrying space fully occupied.......
69. Sacrifice The economic loss sustained when cargo, rigging, or other property is jettisoned or destroyed in the course of saving an imperiled ship; sacrifice losses are usually recoverable in General Average (read this and related lega......
70. Yugen Kaisha A form of limited company organization used in Japan for small or family-con- trolled corporations. This form, usually identified by the letters YK, resembles the American dosed corporation and usually includes restrictions on the transfer of stock. A large or public company is usually organized as ......
71. Ab Quai Synonymous with AB KAI (read this and related legal terms for further details).......
72. Gross Terms Synonymous with Gross Charter (read this and related legal terms for further details).......
73. Manufacturer's Particulars Details of the construction of an intermodal container, as specified in the container's DATA PLATE (read this and related legal terms for further details).......
74. Net Register Ton Synonymous with net ton (read this and related legal terms for further details).......
75. Poultry War Synonymous with Chicken War (read this and related legal terms for further details).......
76. Floor In the case of a variable rate loan (read this and related legal terms for further details), a prearranged minimum rate of interest that will be imposed, irrespective of how low the money market index falls.......
77. Freight-Allowed Pricing Synonymous with zone-delivered pricing (read this and related legal terms for further details).......
78. Nairobi Treaty On The Protection Of The Olympic Symbol An international agreement to protect the Olympic symbol against commercial use without the approval of the International Olympic Committee (IOC). The treaty specifies that adhering states will prohibit use of the Olympic symbol on goods or advertising or as a trademark except under license from th......
79. Net Capacity Synonymous with deadweight Tonnage (read this and related legal terms for further details).......
80. Quayage Synonymous with Quay Dues (read this and related legal terms for further details).......
81. Subpart F A provision of the Internal Revenue Code (Sections 951-64) that imposes U.S. income taxes on the undistributed earnings of "controlled foreign corporations." Subpart F was incorporated into the Code by the Revenue Act of 1962; prior to that time, earnings by foreign subsidiaries of U.S. fi......
82. Supplementary Levy An additional tax that may be imposed upon imports of pork, poultry, or eggs into the European Economic Community when the purchase price of such items falls below the Gate Price ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
83. Foreign Assets Control Regulations A pronouncement issued under authority of Section 5 (b) of the trading with the enemy act (read this and related legal terms for further details) that prohibits importation of products manufactured in, or containing comp......
84. Forty-Forty-Twenty A provision of the Unctad Code Of Conduct For Liner Conferences (read this and related legal terms for further details) that calls for a system of cargo preference in which 40 percent of export cargoes would move on shi......
85. Liquidity Summary of Liquidity The quality of being convertible into monetary wealth; as relates to a given nation's economic condition, liquidity consists of that country's supply of gold, foreign exchange holdings, and Special drawing Rights (read this and related legal terms for further [...]...
86. Nominalism An economic viewpoint that asserts that MONEY (read this and related legal terms for further details) consists only of legal tender issued by governmental authority, as contrasted with more widely held views that would i......
87. Reliquidation An amendment of a customs entry Liquidation (read this and related legal terms for further details)......
88. Swapping A form of countertrade (read this and related legal terms for further details) by which the parties trade off goods that each controls at various locations so as to eliminate or mitigate transportation costs.......
89. Trade Cycle The British equivalent term for the U.S. term business cycle (read this and related legal terms for further details).......
90. Dollar Gap Synonymous with Dollar Deficit (read this and related legal terms for further details).......
91. Invisibles Synonymous with Invisible Exports And Imports (read this and related legal terms for further details).......
92. National Flag Carrier A common car RIER (read this and related legal terms for further details)-usually a steamship line or an airline- that bears its country's flag and is viewed in the trading community as representing the commercial in......
93. Sale At Less Than Fair Value The sale of merchandise to a foreign purchaser at a price below the price that would be charged for a like sale in the home market. Such sales may serve as the basis for an allegation of Dumping (read this and related legal ......
94. Special And Differential Treatment The concept that developing nations require special consideration in bilateral and multilateral trade negotiations, and that concessions should be granted to the developing nations without reciprocity. Although this concept has been advanced in various individual multilateral trade agreements, the T......
95. Trade Act Of 1974 An act that provided the president the negotiating authority essential to participate in the Tokyo Round (read this and related legal terms for further details) of tariff reductions. The act empowered the president to re......
96. Reconstitution A regulation of the International Monetary Fund (read this and related legal terms for further details) relating to the use of Special Drawing Rights (...
97. 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......
98. Financial Solidarity A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
99. Cyprus Treaty of Guarantee Contents Cyprus Treaty of Guarantee NO. 5475. TREATY OF GUARANTEE. SIGNED AT NICOSIA ON 16 AUGUST 1960 The Republic of ... Read more...
100. British Dependent Territories Those overseas possessions of Great Britain that have been associated with the European Communities as part of Britain's entry into the communities. Basically, the term applies to all overseas possessions of Britain other than Gibraltar and Hong Kong.......
101. Commonwealth Preference Special preferential rates of duty applied by member states of the British Commonwealth on merchandise imported from other Commonwealth countries. In many cases, duties among Commonwealth members were totally abolished. The accession of Britain into the European Com-munities, coupled with the adopt......
102. European Atomic Energy Community Summary of European Atomic Energy Community One of the three components of the European Communities, established by the Treaty of Rome in 1957. The entity, known commonly as Euratom, was created by member states of the European Coal and Steel Community (at that time, France, Italy, Federal [...]...
103. European Coal And Steel Community European Coal And Steel Community Summary of European Coal And Steel Community One of three component entities within the European Communities, the coal and steel organization was formed following World War II to permit member states to equalize their access to iron and steel resources. The [...]...
104. European Economic Community Summary of European Economic Community One of the three components of the European Communities. In March 1957, the members of the European Coal and Steel Community (France, Federal Republic of Germany, Italy, and the Benelux countries) expanded the sphere of economic cooperation through the [...]...
105. Fecom The French acronym for the European Monetary Cooperation Fund. (read this and related legal terms for further details).......
106. Fiat Money Currency that has value only because the state that issues it declares it to be legal tender; money that has no intrinsic value beyond the faith of the government that issues it. Paper money not freely exchangeable for gold or silver is fiat money. The term is often associated with regimes which ha......
107. Fiat Standard A monetary system in which the money in circulation is not redeemable in any other form of money (e.g., gold) but has value simply by virtue of its issuance by governmental authority.......
108. Fiber Constraints The United States is party to various multilateral and bilateral agreements concerning the importation of certain textile products. In order to monitor compliance with these agreements, and to identify products subject to specific quantitative or other controls, it is necessary that certain products......
109. 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......
110. Fiduciary Standard Synonymous with FIDUCIARY CURRENCY (read this and related legal terms for further details).......
111. Field Warehousing An inventory financing arrangement characterized by the act of storing goods at or near the user's premises, but under effective control of a public warehouseman. The warehouseman issues a negotiable warehouse receipt that is used as collateral to procure the merchandise. As merchandise is neede......
112. Fifth International Tin Agreement An international commodity agreement among major tin-producing and consuming nations. Principal features of the agreement are (1) establishment of the International Tin Council in which votes are divided equally among producing and consuming nations; the council establishes agreed ceiling and floor ......
113. Fifty-Mile Rule An arrangement between the International Longshoremen's Association and steamship operators designed to eliminate waterfront labor unrest arising from the use of ocean containers. Essentially, the agreement provides that work for longshoremen will be preserved by permitting ILA labor to load and......
114. Fighting Ship A vessel employed by a steamship line, conference, or group on a given trade route at less than competitive rates for the purpose of driving out competition, thereby gaming control or preeminence over the route. The use of ships for such purpose is prohibited under the laws of the United States and ......
115. Final Invoice Read Invoice as cross-reference.......
116. Final List A listing of products upon which a unique standard of valuation was applied for duty purposes. Prior to 1958 duties were applicable on virtually all imports on the basis of foreign value or export value, whichever was higher. The foreign value was the price at which goods were freely offered for con......
117. Final Sailing The passage by a vessel out of the commonly recognized commercial boundaries of the port on the contemplated voyage without intentions of returning.......
118. Financial Accounting Standards Board A private, non-profit organization concerned with formulating standards for financial accounting and reporting by U.S. industry. The FASB is independent of the American Institute of Certified Public Accountants (AICPA) and other professional bodies. In 1973 the FASB succeeded the Accounting Principl......
119. Financial Accounting Standards Board Statement No 52 A set of accounting rules governing offshore and multicurrency transactions, adopted in 1981 and mandatory for use by December 15, 1984. FASB 52 replaces Financial Accounting Standards Board Statement No. 8 (read this and re......
120. Financial Accounting Standards Board Statement No 8 A far-reaching and controversial pronouncement by the Financial Accounting Standards Board governing accounting practices used by American firms in transactions involving foreign currencies. The pronouncement, known commonly as FASB 8, came into effect for fiscal years beginning January 1, 1976. Am......