Related Entries of the International Encyclopedia:

1. 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......
2. Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
3. Intermediate Goods Synonymous with Intermediate Products (read this and related legal terms for further details).......
4. 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......
5. 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 (...
6. Multiple Currency System Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
7. 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......
8. 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 (...
9. Gross Charter Also known as gross terms, a vessel charter arrangement whereby all expenses, to include loading, unloading, pilotage (read this and related legal terms for further details), et cetera, are for the account of the vessel.......
10. 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 [...]...
11. Withdrawal Price A floor price at which European Economic Community producers of certain food products may withhold their goods from the market. The withdrawal price is generally below the base price (i.e., the target price set for a given commodity) and the purchase price at which EEC governments will intervene in ......
12. 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......
13. 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), ......
14. 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......
15. National Line Synonymous with national FLAG CARRIER (read this and related legal terms for further details).......
16. Normal Price Within the scope of the Brussels Definition Of Value (read this and related legal terms for further details), the value basis upon which ad valorem duties will be assessed on imports. The normal price is the price the go......
17. 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......
18. Respondentia The pledge of cargo by a vessel's master as collateral for a loan to permit the ship to continue on its journey or to make arrangements to forward the goods. The bond so created gives the lender a Maritime Lien (read thi......
19. Slot Ship Synonymous with cellularized vessel (read this and related legal terms for further details).......
20. 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 [...]...
21. Fiduciary Standard Synonymous with FIDUCIARY CURRENCY (read this and related legal terms for further details).......
22. 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.......
23. 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......
24. Himilaya Clause A provision in an ocean bill of lading that extends to stevedores or other employees of a carrier the carrier defenses against claims for loss and damage of cargo provided in the carriage of goods by sea act (read this and r......
25. 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 (...
26. 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......
27. 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 ......
28. 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. ......
29. Transaction Value Of Similar Goods Sold An alternative method of valuing goods for customs purposes under the Customs Valuation Agreement (read this and related legal terms for further details).......
30. 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......
31. Firm Indication An emphatic form of Indication (read this and related legal terms for further details) in vessel charter transactions.......
32. Freight Broker Synonymous with Cargo Broker (read this and related legal terms for further details), in vessel charter transactions.......
33. 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.......
34. 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......
35. 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......
36. 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 ......
37. 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......
38. Weather Permitting A condition in a vessel charter party that provides that time lost during loading or discharge because of weather conditions shall not count as Laytime (read this and related legal terms for further details).......
39. 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 (...
40. Gross Terms Synonymous with Gross Charter (read this and related legal terms for further details).......
41. Clean Acceptance A formal acknowledgment by a principal in negotiations for the charter of a vessel that he accepts the offer submitted to him, without further modification, and that he binds himself to execute the charter PARTY (read this a......
42. Consignor The person or firm shown as shipper on the BILL OF LADING (read this and related legal terms for further details).......
43. 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 (...
44. Straight Consignment Goods conveyed under a straight, i.e., nonnegotiable, Bill of lading (read this and related legal terms for further details).......
45. 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 (...
46. 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......
47. Notice Of Readiness Written notification provided by a vessel owner to a charterer, shipper, or consignee that the vessel has arrived at port and is prepared to commence loading or discharging of cargo, as the case may be. Failure by the charterer, shipper, or consignee to commence loading/discharging is apt to start L......
48. 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......
49. Mart And Countermart letters patent (read this and related legal terms for further details) issued by governmental authority to vessel owners authorizing them to wage war upon national enemies and to derive profit from vessels or goods acqui......
50. 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 (...
51. Soft Loan A loan repayable by a foreign borrower in a Soft Currency (read this and related legal terms for further details). Such loans usually have been the product of long-term sales to countries without hard currency repayment ......
52. Trip Charter The operation of a vessel, under a Time Charter (read this and related legal terms for further details), for a specific voyage or voyages.......
53. 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......
54. Beneficiary Developing Country As provided in Section 501 of the Trade Act of 1974, any nation or possession of a nation authorized by the president to be accorded duty-free entry of merchandise into the United States under the GENERALIZED SYSTEM OF PREFERENCES (...
55. Current Account Purchases The value of intermediate products in the national production process. An intermediate product is a manufacturing input that has not been converted into a finished product; for example, steel is an intermediate product in the manufacture of an automobile. The value of current account purchases is im......
56. Foreign Trade Antitrust Improvements Act A 1982 act of Congress, constituting Title IV of the export trading company act (read this and related legal terms for further details), which amends the Sherman Act and Federal Trade Commission Act to clarify their inap......
57. Quota-Class Merchandise Goods subject to Quota (read this and related legal terms for further details) restrictions.......
58. 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.......
59. Deductive Value Method An alternative method of valuing goods for customs purposes under the Customs Valuation code (read this and related legal terms for further details).......
60. Indicative Price Also known as the norm price, the Target Price (read this and related legal terms for further details) for producers of olive oil under the common agricultural policy (...
61. Positive Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the actual value of the transaction, as defined by buyer and seller. This view has been substantially fulfilled by the recent adoption of the transaction value basis of valuation in the Customs Valuatio......
62. 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......
63. Switching Also known as switch trading, a Countertrade (read this and related legal terms for further details) arrangement under which a purchaser in one country assigns to a seller in another country an obligation due from a thir......
64. Free of Capture and Seizure A clause in an ocean marine policy that deletes from the list of covered perils the WAR RISKS (read this and related legal terms for further details) of capture and seizure, and losses attributable thereto. All such war-......
65. International Gold Bullion Standard A Gold Bullion standard (read this and related legal terms for further details) that permits redemption of currency into gold only for purposes of export.......
66. Privileged Foreign Status A condition that may be accorded to foreign merchandise entering a foreign trade ZONE (read this and related legal terms for further details). Foreign merchandise entering a zone remains exempt from duty until withdrawn,......
67. 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......
68. Familiar Drawing Techniques process within the international monetary FUND (read this and related legal terms for further details) whereby a member nation suffering balance of payments problems may obtain foreign currencies from the IMF in exchange......
69. Maritime Subsidy Board A body collateral to the Maritime administration (read this and related legal terms for further details) responsible for reviewing applications for subsidies to U.S. merchant vessel operators to permit competition with l......
70. Super Gold Tranche A condition in which drawings by a member of the international Monetary Fund (read this and related legal terms for further details) cause fund holdings of the member's currency to fall below 75 percent of the member......
71. Seabridge A service offered by some ocean carriers whereby cargo moving between Europe and East Asia is taken by one vessel from the exporting country to a U.S. port for relay, from the same port, to destination. The goods move under a single through bill of lading. A seabridge movement is the effective equiv......
72. Transaction Value Of Identical Merchandise An alternative method of valuing goods for customs purposes under the CustomsValuation Agreement (read this and related legal terms for further details).......
73. General Agreements To Borrow An arrangement among the GROUP OF TEN (read this and related legal terms for further details) nations to provide supplemental financing to the International Monetary Fund (...
74. International Reserves Gold, hard currencies, and special drawing rights (read this and related legal terms for further details) issued by the international monetary fund (...
75. Arrived Ship A vessel under charter that has arrived at its point of loading or discharge; laytime (read this and related legal terms for further details) will begin to accrue from the time of arrival. A vessel has arrived if it fill......
76. 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 [...]...
77. 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......
78. 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 ......
79. Export Diversification Summary of Export Diversification The movement of a nation away from the export of a single or limited number of products as the principal source of foreign exchange earnings. Export diversification programs are usually the priority objectives of small or underdeveloped nations, [...]...
80. Voluntary Stranding A grounding which results from the design and actions of the master to save the ship from imminent peril. Costs and sacrifices resulting from the voluntary act are recoverable in General Average (read this and related legal ......
81. Ab Quai Synonymous with AB KAI (read this and related legal terms for further details).......
82. As Laytime A condition in some vessel charter agreements stipulating that time lost to the vessel because the charterer, shipper, or consignee cannot provide a berth for the ship will count as laytime, i.e., LAYTIME (read this and rela......
83. Drawing Unit Reserve Asset More commonly known by the acronym DURA, a proposed artificial currency unit to be used as an international reserve asset. The Dura was an evolutionary step toward the creation of the special drawing rights (read this and re......
84. 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).......
85. Net Ton A unit of measurement in determining the cargo-carrying capacity of a vessel. It is computed in the same manner as the Gross Ton (read this and related legal terms for further details) but includes only revenue-producing......
86. Poultry War Synonymous with Chicken War (read this and related legal terms for further details).......
87. Privileged Domestic Status A condition that may be accorded to merchandise of U.S. origin, or to imported merchandise upon which duties have been paid, that is entered into a foreign Trade Zone (read this and related legal terms for further details...
88. 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.......
89. 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......
90. 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......
91. Eurco A commercial version of the European Currency Unit (read this and related legal terms for further details). In order to stimulate interest in the European currency unit (ECU), in 1973 the European Investment Bank introdu......
92. Net Capacity Synonymous with deadweight Tonnage (read this and related legal terms for further details).......
93. 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 ......
94. Quayage Synonymous with Quay Dues (read this and related legal terms for further details).......
95. Flag Discrimination Actions taken by a government to favor or discourage movement of cargoes aboard vessels flying certain flags; for example, a nation may require that certain cargoes or percentages of overall cargo tonnage move aboard its own vessels.......
96. First Flag Carriage The shipment of goods aboard a vessel flying the flag of the exporting country.......
97. Flag of Convenience Flag Of Convenience Summary of Flag Of Convenience Registration of a vessel in a country other than that of the ship's owners, because the registering nation affords the owners tax or other benefits not available in the home country.(Main Author: William J. Miller) [...]...
98. Second Flag Carriage The shipment of goods aboard a vessel that flies the flag of the importing country.......
99. Third-Flag Carriage The shipment of goods aboard a vessel that flies the flag of neither the exporting nor the importing country.......
100. Flag Carrier Flag Carrier in International Trade Meaning of Flag Carrier, according to the Dictionary of International Trade (Global Negotiator): A vessel registered under the flag of a particular country. Some counties support their merchant marine industry by limiting certain types of cargo to vessel [...]...
101. Flag of Truce Embracing mainstream international law, this section on flag of truce explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "flag of truce" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, [...]...
102. Flag State Embracing mainstream international law, this section on flag state explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "flag state" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the [...]...
103. 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......
104. Foreign Flag Violation of a Foreign Flag: International Incident In the book "International Incidents for Discussion in Conversation Classes", in relation to terminox, L. Oppenheim wrote in 1909: A political criminal, imprisoned in Port-au-Prince, in Hayti, escapes from the prison and makes for [...]...
105. Right to Fly Flag Embracing mainstream international law, this section on right to fly flag explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "flag, right to fly" in the Parry and Grant Encyclopaedic Dictionary of International Law [...]...
106. U.N. Flag Embracing mainstream international law, this section on u.n. flag explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "flag, u.n." in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the [...]...
107. White Flag The Use of the White Flag: International Incident In the book "International Incidents for Discussion in Conversation Classes", in relation to terminox, L. Oppenheim wrote in 1909: During war between states A and B, an outlying fort of a harbour of state A is being bombarded by the [...]...
108. Abuse of Flag Embracing mainstream international law, this section on abuse of flag explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "flag, abuse of" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, [...]...
109. Jurisdiction Follows the Flag Embracing mainstream international law, this section on jurisdiction follows the flag explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "jurisdiction follows the flag" in the Parry and Grant Encyclopaedic Dictionary of [...]...
110. Maritime Flag Embracing mainstream international law, this section on maritime flag explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "maritime flag" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, [...]...
111. Flagging Out The act of transferring a vessel's registry to a lower-cost jurisdiction.......
112. Flash A feeder-LASH (lighter aboard ship, q.v.) system used in Malaysia and Indonesia in which a LASH barge is positioned on top of a semisubmersible barge; the barge is pumped out, and the LASH barge towed to the pier or wharf for loading.......
113. Flexible Tariff Special Drawing Ria customs tariff in which rates of duty can be raised or lowered by administrative action. In the United States the Reciprocal Trade Agreements Act of 1934 and other legislation have authorized the President to adjust duty rates downward in response to concessions from other nation......
114. Flight From The Dollar The large-scale divestiture of dollars and dollar-denominated securities by speculators and capital markets in 1970- 1971 in anticipation of a dollar devaluation. Pessimism concerning the dollar arose in response to growing balance of trade deficits and capital outflows attributable to low U.S. inte......
115. Floating Supply Commodities and securities held outside the normal channels of consumption or investment solely for speculative purposes.......
116. 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.......
117. Flora and Fauna – Biodiversity conventions ContentsFlora and Fauna – Biodiversity international conventionsFlora and Fauna – Biodiversity multilateral conventionsConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and ... Read more...
118. Flatow v. The Islamic Republic of Iran ContentsFlatow v. The Islamic Republic of IranBackgroundDiscussionConclusionSee AlsoNotesReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Flatow v. ... Read more...
119. Expropriation Expropriation Definition Expropriation is the forced assumption of ownership of private property by a government, often without fair compensation. Nationalization is expropriation by a national government. Meanings For information on: * history of expropriation, see Nationalization * [...]...
120. Grant of Permission As provided in the Countervailing Duty Law (19 U.S.C. 1303), an economic inducement by a foreign government or association to a manufacturer in its country to encourage exports. These inducements include, but are not limited to loans and loan guarantees, at rates lower than those commercially availa......