Related Entries of the International Encyclopedia:

1. 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.......
2. 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......
3. 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.......
4. Convention on International Bills of Exchange and International Promissory Notes ContentsConvention on International Bills of Exchange and International Promissory NotesConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these ... Read more...
5. 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 [...]...
6. 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......
7. 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 [...]...
8. Real Interest Rate Synonymous with effective interest Rate (read this and related legal terms for further details).......
9. Freight of All Kinds Freight of All Kinds in International Trade Meaning of FAK (Freight of All Kinds), according to the Dictionary of International Trade (Global Negotiator): Freight rate applicable to all types of goods and therefore is not restricted to a particular commodity. FAK freight rates are quoted [...]...
10. Dollar Bill Of Exchange Synonymous with Dollar Exchange (read this and related legal terms for further details).......
11. 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.......
12. 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......
13. 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.......
14. Clean Float The condition in which the values of national currencies vis-a-vis each other are determined by market forces without government intervention to maintain prearranged rates of exchange.......
15. 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.......
16. 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.......
17. Convention on International Bills of Exchange and International Promissory Notes 9 Contents Convention on International Bills of Exchange and International Promissory Notes ConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/s ... Read more...
18. 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 [...]...
19. 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.......
20. Nominal Interest Rate The rate of interest earned by an investment, without adjustment for inflation. Deducting the inflation factor from the nominal rate yields the effective or real interest rate, which is a more accurate reflection of the return on the investment.......
21. Convention on International Bills of Exchange and International Promissory Notes 10 Contents Convention on International Bills of Exchange and International Promissory Notes ConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned ... Read more...
22. 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......
23. 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 [...]...
24. Fixing Fixing in International Trade Meaning of Fixing, according to the Dictionary of International Trade (Global Negotiator): In foreign exchange, establishing of the official exchange rate of a domestic currency against other negotiable currencies....
25. Tariff Rate A rate for insurance coverage specifically prescribed by local regulation. Usually the rate is higher than might be derived through negotiations with a nonadmitted (read this and related legal terms for further details) ......
26. Foreign Currency Foreign Currency in International Trade Meaning of Foreign Currency, according to the Dictionary of International Trade (Global Negotiator): The currency of any foreign country which is authorized medium of circulation and the basis for record keeping in that country. Foreign currency is [...]...
27. Loading Summary of Loading A risk premium in addition to interest charges and acceptance fees deducted by a bank or discount house from the face value of a bill of exchange (read here for further details) presented for discounting. This additional margin will vary, depending upon the quality of the [...]...
28. American Tanker Rate Schedule A schedule of nominal rates for tanker movements between world ports. Publication was ceased in 1969, and it has been succeeded by WORLDSCALE (read this legal term for further details).......
29. Currency Future Currency Future in International Trade Meaning of Currency Future, according to the Dictionary of International Trade (Global Negotiator): A contract for the future delivery of a commodity, currency, or security on a specific date. In contrast to forward contracts, future contracts are for [...]...
30. 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 [...]...
31. 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. [...]...
32. Freight Tariff Not Otherwise Specified (NOS) in International Trade Meaning of Not Otherwise Specified (NOS), according to the Dictionary of International Trade (Global Negotiator): This expression and abbreviation is often applied to air freight tariffs, indicates that the rate stated in the tariff applies [...]...
33. 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......
34. 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...
35. Currency Currency in International Trade Meaning of Currency, according to the Dictionary of International Trade (Global Negotiator): The circulating media of exchange in a country. Includes money and such financial instruments as checks. Resources See Also Public Finance Public Policy Tax Law [...]...
36. 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 [...]...
37. Cap Summary of Cap The maximum rate of interest that may be charged on a variable or floating rate loan, irrespective of how high the money market index may fluctuate.(Main Author: William J. Miller) CAP and the European Union Resources See Also Rate (Rate cap) Resources See Also [...]...
38. Multiple Currency System Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
39. Freight Summary of Freight The earnings that a carrier derives from the carriage of merchandise. Freight should not be confused with cargo, which is the merchandise itself. Also, the term freight is used to represent payment made by a charterer to the vessel's owner for use of a ship under a [...]...
40. Hot Money Short-term capital movements animated by speculation (as in response to an expected significant change in exchange rates) or to take advantage of interest rate differentials. The term is particularly relevant to funds placed overseas in accounts that may be rapidly liquidated if exchange or interest......
41. Foreign Currency Account Foreign Currency Account in International Trade Meaning of Foreign Currency Account, according to the Dictionary of International Trade (Global Negotiator): An account maintained in a foreign bank in the currency of the country in which the bank is located. When such accounts are kept, they [...]...
42. Freight Forwarder Freight Forwarder in International Trade Meaning of Freight Forwarder, according to the Dictionary of International Trade (Global Negotiator): A person engaged in the business of assembling, collection, consolidating, shipping and distributing less-than-carload or less-than-truckload freight. [...]...
43. Spot Exchange Rate Spot Exchange Rate in International Trade Meaning of Spot Exchange Rate, according to the Dictionary of International Trade (Global Negotiator): The price of one currency expressed in terms of another currency at a given moment in time....
44. 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.......
45. Exchange Rate Mechanism Exchange Rate Mechanism (ERM) and Europe There is an entry on exchange rate mechanism (erm) in the European legal encyclopedia. Resources See Also Further Reading Entry "Exchange Rate Mechanism (ERM)" in the work "A Concise Encyclopedia of the European Union from Aachen to [...]...
46. 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 [...]...
47. Floating Policy A contract of marine insurance that remains in force until canceled. Within the geographic, dollar, or product limitations stipulated, the policy is designed to cover all the shipments of the assured, who reports them to the underwriter on a regular basis.......
48. Floating Supply Commodities and securities held outside the normal channels of consumption or investment solely for speculative purposes.......
49. Floating Island Floating Island (territory) Theory Embracing mainstream international law, this section on floating island (territory) theory explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "floating island (territory) theory" in the [...]...
50. Floating Choice of Law Floating Choice of Law in Private International Law This section contain conflict of laws information and cross references related to floating choice of law on some major countries and additional jurisdictions. It covers key issues involved when citizens face international situations. [...]...
51. 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 [...]...
52. 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 [...]...
53. 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 [...]...
54. 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 [...]...
55. Freight Rate LCL/fcl in International Trade Meaning of LCL/fcl, according to the Dictionary of International Trade (Global Negotiator): A way of quoting container freight rates in which the carrier agrees to pack the container at the outset (LCL) but unpacking at destination must be carried out by the [...]...
56. Common Unit of Exchange Concept of Common Unit of Exchange An introductory definition of Common Unit of Exchange is provided here: a currency in which international economic exchanges are valued Resources See Also Foregin Policy Foreign Affairs...
57. 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 [...]...
58. Through Rate A freight rate that is the total rate from origin to destination; in some cases, surcharges may be applicable to the basic freight, and are additional to the through rate.......
59. 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 [...]...
60. 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 [...]...
61. 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....
62. Clean Bill of Exchange Any bill of exchange (read here for further details) not accompanied by documents, such as invoices, bills of lading, et cetera. See direct collection.......
63. Fixed Exchange Rates A condition in which the official rates of exchange for most currencies, particularly those of major trading nations, are in an established ratio to one another; generally, this is the result of each currency having an established rate to gold from which a series of bilateral exchange ratios can be ......
64. Foreign Bill Of Exchange A bill of exchange (read here for further details) drawn in one state or country and payable in another.......
65. 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......
66. General Cargo Rate General Cargo Rate in International Trade Meaning of General Cargo Rate, according to the Dictionary of International Trade (Global Negotiator): The rate a carrier charges for the shipment of cargo that does not have a special class rate or commodity rate....
67. Spot Rate Spot Rate in International Trade Meaning of Spot Rate, according to the Dictionary of International Trade (Global Negotiator): Rate of exchange quoted for purchases and sales of a foreign currency for immediate delivery and payment....
68. Foreign Exchange Control Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance International Public Finance...
69. Foreign Exchange Reserve Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance International Public Finance...
70. Exchange ContentsExchangeExchange DefinitionOrganizationHistoryCommodities and Futures ExchangesRegulation Exchange Exchange Definition Exchange, in commerce, generally, may be defined as a central office or ... Read more...
71. 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.......
72. 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 [...]...
73. 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. [...]...
74. Dollar Exchange A draft or bill of exchange, wherever drawn, payable in U.S. dollars.......
75. 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.......
76. Letter Of Exchange An infrequently used synonym for bill of exchange (read here for further details).......
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. 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.......
79. Pecuniary Exchange The settlement of obligations by payment of money, rather than by goods or services.......
80. Premium (Exchange) In foreign exchange transactions, the rise in value of one currency when measured against another currrency.......
81. 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......
82. Sole Of Exchange Bill of Exchange is considered here.......
83. Tax Rate Other Popular Tax Definitions in the World Legal Encyclopedia Adjusted Gross Income (sometimes, including Tax Rate) Ad......
84. 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 [...]...
85. Rate Spanish Translation of tariff and rateThis is the legal translation of English to Spanish in relation to tariff or rate and / or a definition of this topic: Tarifa (in Spanish, without translation of the dictionary entry)....
86. 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 [...]...
87. 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): [...]...
88. 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 [...]...
89. Stock Exchange Law ContentsStock Exchange LawStock Exchange LawMain Objectives and Key LegislationExchange OrganizationExchange Trading Stock Exchange Law Stock Exchange Law Stock exchange law ... Read more...
90. Student Exchange Resources See Also Education Policy Training Policy...
91. Stock Exchange Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...
92. Information Exchange Resources See Also Library Law Library Legal Deposit Public Law Library Information Science Research Investigation Legal Research Study...
93. Actual Value Rate A freight rate applicable to certain commodities where, depending upon the actual goods, value may vary greatly. For example, the classification "scientific instruments" may embrace low-value laboratory glassware or high-value precision instruments. In such cases, the shipper must declare ......
94. Any Quantity Rate A freight rate applicable to a specific commodity irrespective of the quantity shipped, without provision for quantity discounts.......
95. Bank Rate The rate at which the Bank of England and the Bank of Canada lend to commercial banks.......
96. Base Rate The specific commodity or general class rate applicable to a product in a common carrier's tariff. Various surcharges, fuel adjustments, currency adjustment factors, et cetera, may be imposed on top of the base rate; they are often expressed as a percentage of the base rate.......
97. Bilateral Exchange Rates The European Monetary System is considered here.......
98. Block Rate A reduced rail freight rate levied on movements of ten or more cars at one time from one shipper to a simple consignor.......
99. 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......
100. 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......
101. Check Rate The rate of exchange applicable to bankers' checks. This rate is lower than the cable rate but higher than the rate applicable to time bills of exchange, owing to the time value of money.......
102. 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.......
103. Combination Rate An inland freight rate from point of origin to destination derived by adding two or more intermediate rates.......
104. 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 (...
105. Cross Rate The ratio between the exchange rate of two currencies in relation to a third currency.......
106. 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......
107. Differential Rate A freight rate derived by compiling existing intermediate rates; this process is used where no through rate exists between the points of origin and destination.......
108. Directional Rate A freight rate reduced for cargo moving in a direction where cargo is light, for the purpose of stimulating movements. Under such circumstances, it is quite possible that the rate for the same product moving in the other direction (where tonnage is heavy) may be significantly higher.......
109. Discount Rate Also known as the re-discount rate, the rate of interest charged by the Federal Reserve to member banks for advances. The rates are set every fourteen days by the regional Federal Reserve banks upon approval of the Board of Governors of the Federal Reserve system.The discount rate is a p......
110. 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......
111. Effective Interest Rate Also known as the real interest rate, the return to capital derived by adjusting the nominal rate of interest for inflation. For example, a bond may bear a nominal rate of interest (the rate that the instrument pays) of 10 percent; by deducting the rate of inflation—say, 4 percent—we derive the ......
112. Effective Lending Rate The actual cost of a loan when such factors as commitment fees and compensating balances are computed on top of the interest rate.......
113. Effective Rate of Protection The net protection afforded by a nation's tariff system to any given domestic product. For example, the higher the rate of duty, the greater the protection against foreign imports; conversely, as rates are increased on raw materials or production inputs, the costs of domestic production are [...]...
114. Extraction Rate The proportion, on a weight basis, between a finished or processed product and the raw materials from which it was manufactured.......
115. 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......
116. Inland Bill Of Exchange A bill drawn and payable in the same state.......
117. Interest Rate Risk The risk borne by the holder of fixed rate securities that interest rates will rise above those paid by his holdings, thereby depriving him of interest that might otherwise have been earned.......
118. Joint Rate Summary of Joint Rate A single factor rate applicable to the movement of goods through two or more carriers.(Main Author: William J. Miller) Resources See Also Joint through rate Rate...
119. Lombard Rate The interest rate charged West German commercial banks on loans from the central bank using securities as collateral.......
120. 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.......