Related Entries of the International Encyclopedia:

1. 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 [...]...
2. 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......
3. Multiple Currency System Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
4. 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 [...]...
5. Cable Rate The exchange rate quoted for a given currency transferred by cable. The cable rate is higher than the rate for checks or bills of exchange denominated in the same currency because cable transfers are virtually instantaneous, thereby denying the bank or broker use of the funds during the collection p......
6. 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......
7. 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......
8. 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 [...]...
9. Draft Summary of Draft A written, unconditional demand upon a named party to pay a specified sum of money at a prescribed date. The person who makes the demand for payment, i.e., the person who prepares the draft, is known as the drawer or maker of the instrument; the party of whom payment is [...]...
10. 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.......
11. 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......
12. Banker's Bill A bill of exchange drawn by a bank upon a foreign bank. Usually, these bills are drawn upon credit balances with foreign banks so as to make exchange available locally, and are clean bills of exchange. Bill of Exchange is considered here.......
13. Under Deck Bill Of Lading An ocean bill of Lading (read this and related legal terms for further details) bearing the specific notation that the goods have been stowed below deck. Under deck stowage has been traditionally regarded as safer than s......
14. Crawling Peg A middle ground between fixed and freely floating exchange rates. Unlike the free- floating system in which exchange rates are determined by market forces alone, and a system of fixed exchange rates (i.e., the defunct Bretton Woods system), the crawling peg scheme envisions that various trading curr......
15. 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.......
16. Private Bill A bill of exchange (read here for further details) drawn upon and accepted by a party other than a bank; trade acceptances, for example, are private bills.......
17. 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......
18. Proportional Rate A freight rate that is constructed by adding separate joint or local rates applying to a through movement. A proportional rate, unlike a Combination rate (read this and related legal terms for further details), is applic......
19. Smithsonian Agreement A largely unsuccessful effort to revive the fixed exchange rate system established by the bretton woods agreement (read this and related legal terms for further details).......
20. Statutory Rate Of Duty The rate of duty on the given product specified by the Smoot- Hawley Act (read this and related legal terms for further details) of 1930. The rates established by this act are applied to Column 2 countries, i.e., those t......
21. 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 [...]...
22. 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......
23. 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 [...]...
24. Sight Rate The rate of exchange used by a bank or foreign exchange dealer in purchasing a sight bill of exchange or similar instrument denominated in a foreign currency.......
25. Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
26. Devaluation Summary of Devaluation The official reduction of the value of a nation's money in relation to a standard (usually gold), special drawing rights, or the U.S. dollar. Inasmuch as all currencies are ultimately valued in terms of some standard, devaluation results in the conscious increase [...]...
27. Roosa Bonds Bonds sold by the U.S. Treasury in the 1960s to foreign central banks for dollars as part of a Swap Arrangement (read this and related legal terms for further details) to relieve exchange rate instability. The bonds prov......
28. On Board Bill Of Lading An ocean bill of LADING (read this and related legal terms for further details) bearing the carrier's endorsement "on board" or words of like import stipulating that the cargo covered by the bill of lading ......
29. Purchasing Power Parity An equal relationship of prices between two countries. Price levels in both countries are substantially the same, considering the rate of exchange.......
30. 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......
31. Railroad Through Bill Of Lading An export Bill of Lading (read this and related legal terms for further details), issued by a railroad, covering shipment overseas of merchandise by combined rail/water service under a through rate. The bill of lading ma......
32. Floating Exchange Rates A condition in which parities among foreign currencies are absent: a currency's worth in relation to other currencies is determined largely by market forces, with only occasional government intervention to prevent disruptive swings in the value of an important currency.......
33. Gold Sterilization A governmental policy to prevent the expansion of a nation's money supply by preventing the accumulation of gold. In the case of a nation on the Gold Standard (read this and related legal terms for further details), ......
34. 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 [...]...
35. Customs Rate The rate of exchange employed by U.S. Customs in converting foreign currency invoices for the purpose of arriving at a value, in U.S. dollars, for imported merchandise. Ad valorem duties are applied on the dollar value. In accordance with the Customs Simplification Act of 1956, the secretary of the......
36. 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......
37. 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......
38. Long Rate The rate paid by a bank or foreign exchange broker for long bills of exchange (i.e., those having a tenor of more than thirty days) payable abroad.......
39. 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.......
40. 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 (...
41. 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......
42. Contract Rate In the steamship industry, the freight rate applicable to goods shipped by a firm that has executed an exclusive patronage contract (read this and related legal terms for further details) with a Conference (...
43. Divergence Threshold Within the euro Pean Monetary System (read this and related legal terms for further details), each participating currency is assigned a value in terms of the European currency unit (ECU). The participating currency is pe......
44. Fixed Exchange Rate Concept of Fixed Exchange Rate An introductory definition of Fixed Exchange Rate is provided here: the rate of exchange of a currency or currency is set by agreement between governments or by government policy (see also gold standard) Resources See Also Foregin Policy Foreign Affairs...
45. 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 (...
46. Cross Bill Synonymous with re-draft (read this and related legal terms for further details).......
47. 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......
48. Commercial Bill A bill of exchange (read here for further details) that arises out of a transaction involving the sale of goods.......
49. Differential Exchange Rates A scheme in which a government prescribes different rates of exchange for the local currency, depending upon the transaction involved. The government may assign its currency a given value in terms of gold for capital transfers, for example, but provide for a less favorable rate of exchange for impor......
50. Multiple Exchange Rates Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
51. Numeraire System A multinational currency stabilization arrangement wherein participating national currencies are assigned a central rate, or value, in terms of a given unit of account; this rate is based upon a basket of all the participating currencies, weighted according to defined criteria. A margin would be fix......
52. Sight Bill A bill of exchange (read here for further details), payable at sight, i.e., upon presentation.......
53. Sterling Bill A bill of exchange (read here for further details) denominated in pounds sterling.......
54. Usance Bill Also known as a term bill, a bill of exchange (read here for further details) that affords a term of credit to the party accepting the bill (e.g., thirty days' sight, sixty days date). In effect, a usance bill is any bill other than one ......
55. 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.......
56. Usance The time allowed for settlement of a bill of exchange (read here for further details), as established by custom of the particular trade or usage.......
57. Datafreight Receipt A document issued by some steamship operators in lieu of a bill of LADING (read this and related legal terms for further details) on straight consignment shipments. Rather than issue a formal bill of lading, the carrier ......
58. Point Forecast An anticipated rate of exchange for a given foreign currency at a fixed point in time, e.g., July 15.......
59. 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......
60. Freight, All Kinds Rate A fixed charge levied by a carrier to ship a container, trailer, car, et cetera, from one point to another, irrespective of the contents. A FAK rate supersedes class or commodity rates. The shipper, in effect, pays a flat charge to move the unit and may ship whatever he wishes up to the rated capaci......
61. Noncontract Rate The freight rate applicable to commodities shipped by a firm that has not executed an exclusive patronage contract (read this and related legal terms for further details).......
62. Trade Acceptance Summary of Trade Acceptance Cross-reference: Acceptance.(Main Author: William J. Miller) Trade Acceptance in International Trade Meaning of Trade Acceptance, according to the Dictionary of International Trade (Global Negotiator): A bill of exchange drawn by the exporter/seller on [...]...
63. Prime Rate The rate of interest on business loans by commercial banks to their most creditworthy customers. The maintenance of a COMPENSATING BALANCE (read this and related legal terms for further details) by the borrower is custom......
64. Re-Draft A bill of exchange (read here for further details) drawn by a holder of a dishonored draft to recover the face amount of the original instrument, plus protest fees and any exchange loss. The substitute bill may be drawn upon either the maker......
65. Real Interest Rate Synonymous with effective interest Rate (read this and related legal terms for further details).......
66. 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......
67. Bilateral Exchange Rates The European Monetary System is considered here.......
68. Exchange Rates Multiple Exchange Rates (also known as Differential Exchange Rates) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Multiple Exchange Rates (also known as Differential Exchange Rates): [...]...
69. Fixed Date Spanish Translation of on the fixed dateThis is the legal translation of English to Spanish in relation to on the fixed date and / or a definition of this topic: Fecha Fija (in Spanish, without translation of the dictionary entry)....
70. Fixed Annuity Description of Fixed Annuity Resources See Also Immediate Annuity...
71. Equity Plus Fixed-Rate Debt A purchase arrangement in which the borrower contributes a portion of the purchase price (his equity) and takes a loan for the rest at a fixed rate of interest.......
72. Fixed Term Insurance Spanish Translation of fixed term insuranceThis is the legal translation of English to Spanish in relation to fixed term insurance and / or a definition of this topic: Seguro a Plazo Fijo (in Spanish, without translation of the dictionary entry)....
73. Fixed Term Labor Contract Resources See Also Personnel Law Enforcement Officer Military Personnel Law Practice Management Job Labor Law Labor Right Employment Contract...
74. Bilateral Central Rates The European Monetary System is considered here.......
75. Par Of Exchange The value, in gold, of a unit of a nation's currency in relation to the gold value of a unit of another nation's currency.......
76. Intangible Fixed Assets Spanish Translation of intangible fixed assetsThis is the legal translation of English to Spanish in relation to intangible fixed assets and / or a definition of this topic: Inmovilizado Intangible (in Spanish, without translation of the dictionary entry)....
77. Mint Par Of Exchange The relationship, in terms of precious metal value, of two nations' currencies, derived by dividing the gold or silver content, by weight, of one nation's currency unit by the comparable metal content of another nation's currency unit.......
78. Pecuniary Exchange The settlement of obligations by payment of money, rather than by goods or services.......
79. Premium (Exchange) In foreign exchange transactions, the rise in value of one currency when measured against another currrency.......
80. Rationing Of Exchange An exchange control imposed by governmental authority to regulate transactions in foreign exchange. Under a rationing of exchange scheme, only the government may issue exchange to importers, and holders of bills of exchange denominated in a foreign currency must surrender them to the government in e......
81. Dual Exchange Market A governmentally mandated system for the handling of foreign exchange transactions under which officially sanctioned imports or other approved transactions are accommodated at a given, prescribed rate of exchange while other transactions employ the market rate of exchange. For a listing of countries......
82. Effective Rate Of Exchange The true cost of acquiring a unit of a given currency in terms of another currency. The effective rate includes taxes and other costs that are factored into the price of the currency converted.......
83. Foreign Bill Of Exchange A bill of exchange (read here for further details) drawn in one state or country and payable in another.......
84. 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 [...]...
85. Rates Exemption from Rates: International Incident In the book "International Incidents for Discussion in Conversation Classes", in relation to terminox, L. Oppenheim wrote in 1909: The following appeared in the Times, Dec. 9th, 1908: "The claim of Herr von Bethmann-Hollweg, a German [...]...
86. Bound Rates Bound Rates and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Bound Rates: Most favored-nation tariff rates resulting from GATT negotiations and thereafter incorporated as integral [...]...
87. Tariff Rates Column 2 Rates and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Column 2 Rates: US tariff rates assessed on imports from countries not receiving most- favored-nationtreatment. Most [...]...
88. Rates of Duty In the United States For information about Rates of duty in the context of international trade, click here...
89. Incarceration Rates Contents Incarceration Rates This entry provides a comprehensive account of prison populations around the world and analyses recent trends in ... Read more...
90. Arbitration Of Exchange Arbitration Of Exchange Summary of Arbitration Of Exchange The near- simultaneous purchase and sale of foreign bills of exchange so as to take advantage of price differentials for such instruments in different money centers.(Main Author: William J. Miller) Resources See Also [...]...
91. Blocked Exchange An exchange restriction, imposed by governmental authority, that forbids the unlicensed purchase of bills of exchange, currency, or negotiable instruments denominated in a foreign currency. The object of this measure is to prevent transmission of foreign currency reserves out of the country. [...]...
92. Dollar Exchange A draft or bill of exchange, wherever drawn, payable in U.S. dollars.......
93. Eurobill Of Exchange A bill of exchange (read here for further details) drawn in a currency other than that used in the country of the maker.......
94. 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 [...]...
95. Letter Of Exchange An infrequently used synonym for bill of exchange (read here for further details).......
96. Payable With Exchange A condition that may be written on a bill of exchange or check, the effect of which is to stipulate that exchange conversion or collection costs shall be borne by the payee in the case of a bill, or the maker in the case of a check.......
97. Sole Of Exchange Bill of Exchange is considered here.......
98. 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 [...]...
99. Dollar Bill Of Exchange Synonymous with Dollar Exchange (read this and related legal terms for further details).......
100. Gold Exchange Standard A condition in which a nation maintains its reserves in a currency convertible into gold rather than in the metal itself. Since August 15, 1971, the U.S. dollar has not been freely convertible into gold by foreign central banks; it therefore does not qualify as a reserve currency for a nation on a g......
101. Inland Bill Of Exchange A bill drawn and payable in the same state.......
102. Prime Bill Of Exchange A bill of exchange (read here for further details) that states on its face that it arises from the sale of goods.......
103. Time Bill Of Exchange A bill of exchange (read here for further details) payable other than "at sight," i.e., immediately upon presentation. Bills drawn at sixty days' sight or thirty days date, for example, are time bills.......
104. Uniform Law On Bills Of Exchange A product of the 1932 Geneva Convention on Bills of Exchange. The object of the act was to standardize various national laws and usages relative to bills of exchange, thereby overcoming an impediment to rade. The act specifies that a bill of exchange must contain:1. The term bill of exch......
105. Floating Exchange Rate Floating Exchange Rate in International Trade Meaning of Floating Exchange Rate, according to the Dictionary of International Trade (Global Negotiator): A rate of exchange that is determined by market forces. See also clean float and dirty float. Concept of Floating Exchange Rate An [...]...
106. 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 [...]...
107. Foreign Exchange Control Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance International Public Finance...
108. Foreign Exchange Reserve Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance International Public Finance...
109. ESA Agreement on the Protection and Exchange of Classified Information Contents ESA Agreement on the Protection and Exchange of Classified Information Title of Treaty Agreement between the States Parties to ... Read more...
110. Exchange Contents Exchange Exchange Definition Exchange, in commerce, generally, may be defined as a central office or place of business, such ... Read more...
111. Bills of Exchange The Legal History of Bills of Exchange in English Common Law This section provides an overview of Bills of Exchange in English Common Law Bills of Exchange, Drafts, Checks, and Trade Acceptances in relation with Negotiable Instruments This content deals with legal and regulatory aspects of [...]...
112. Exchange of Notes Exchange of Letters/Notes and the Treaties of the European Union Description of Exchange of Letters/Notes provided by the European Union Commission: States may express their consent to be bound by an "exchange of letters/notes". The basic characteristic of this procedure is that the [...]...
113. Exchange Controls Exchange Controls and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Exchange Controls: The rationing of foreign currencies and other instruments for settling international financial [...]...
114. Bill of Exchange Bill of Exchange in International Trade Meaning of Bill of Exchange, according to the Dictionary of International Trade (Global Negotiator): An unconditional order in writing, signed by a creditor (drawer) such as a buyer, and addressed to another person (drawee), typically a bank, ordering [...]...
115. Exchange Rate Exchange Rate in International Trade Meaning of Exchange Rate, according to the Dictionary of International Trade (Global Negotiator): The price of one currency expressed in terms of another, i.e., the number of units of one currency that may be exchanged for one unit of another currency. [...]...
116. Exchange Risk Exchange Risk in International Trade Meaning of Exchange Risk, according to the Dictionary of International Trade (Global Negotiator): The possibility of receiving less or paying more money because a receivable or a payable is denominated in a foreign currency. Countries with shortages of [...]...
117. Spot Exchange Spot Exchange in International Trade Meaning of Spot Exchange, according to the Dictionary of International Trade (Global Negotiator): The purchase and sale of foreign exchange for delivery and payment at the time of the transaction....
118. Stock Exchange Law Contents Stock Exchange Law Stock Exchange Law Stock exchange law is today a subdivision of capital markets or securities law. ... Read more...
119. Student Exchange Resources See Also Education Policy Training Policy...
120. Stock Exchange Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...