Related Entries of the International Encyclopedia:

1. 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......
2. 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......
3. 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......
4. 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).......
5. Resale Price Method Synonymous with Arm's Length Price (read this and related legal terms for further details).......
6. 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 (...
7. 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.......
8. 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 [...]...
9. 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......
10. 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 [...]...
11. Forward Margin In foreign exchange transactions, the difference between the current, or "spot," price for a given currency and the price at some future date. If the "futures" price, that quoted by sellers of contracts for future purchase of that currency, is higher than the spot price, the subj......
12. Multiple Currency System Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
13. 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 ......
14. 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......
15. Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
16. 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 [...]...
17. 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......
18. 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......
19. 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......
20. Price Base Price or Basic Price and International Trade Resources See Also Further Reading Information related to price in the Max Planck Encyclopedia of International Law(MPEPIL), Germany, United Kingdom Resources See Also Common Agricultural Policy Gate Price and International Trade Resources [...]...
21. Price Differentiation Price Differentiation in International Trade Meaning of Price Differentiation, according to the Dictionary of International Trade (Global Negotiator): Price strategy for international markets that allows each local subsidiary or partner (agent, distributor. etc.) to set a price that is [...]...
22. Associated Foreign Corporation As used in conjunction with the operations of a DOMESTIC INTERNATIONAL SALES CORPORATION (read this and related legal terms for further details), or DISC, a foreign corporation in which neither the DISC nor members of t......
23. 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.......
24. 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......
25. 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......
26. 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 (...
27. 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......
28. 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......
29. 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......
30. Less Than Fair Value An export sale price below that charged on like sales in the country of origin. Such sales are usually regarded as dumping (read this and related legal terms for further details), which may result in the imposition by th......
31. 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......
32. Multiple Exchange Rates Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
33. 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 [...]...
34. Fiduciary Standard Synonymous with FIDUCIARY CURRENCY (read this and related legal terms for further details).......
35. 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 [...]...
36. Price Discrimination Price Discrimination and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Price Discrimination: The practice of charging unequal prices to different buyers of products that are essentially identical, when such [...]...
37. 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......
38. 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......
39. 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......
40. Strike Price Strike Price in International Trade Meaning of Strike Price, according to the Dictionary of International Trade (Global Negotiator): Price at which the option buyer obtains the right to purchase (call option) or sell (put option) the underlying security or currency....
41. 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......
42. 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......
43. Price Restrictions In the United States For information about Price restrictions in the context of international trade, click here...
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. Price Standardization Price Standardization in International Trade Meaning of Price Standardization, according to the Dictionary of International Trade (Global Negotiator): Price strategy for international markets based on setting a price for the product as it leaves de factory. At its simplest it involves setting [...]...
46. Ordinary Course Of Trade A concept routinely applied in customs valuation that holds that the dutiable value of goods is the price at which they would normally sell if customary channels of distribution were observed. For example, where it was industry practice for a product to be sold directly by a manufacturer to an end u......
47. Dollar Bill Of Exchange Synonymous with Dollar Exchange (read this and related legal terms for further details).......
48. 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.......
49. Arab Common Market Arab Common Market Outline The ACM came into existence in 1965, pursuant to an agreement signed in 1964 by the Arab League states. Its initial members included Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Palestine Liberation Organisation, Somalia, Sudan, Syria, United Arab Emirates, Yeme......
50. Market Performance Market Performance and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Performance: The principal focus of competition policy, market performance refers to the degree to which a particular industry or [...]...
51. Black Market Black Market Definition Black Market is the term designating the illicit sale of commodities in violation of government rationing and price-fixing. The term originated in Europe during World War I, when the introduction of rationing in belligerent countries tempted some persons with access [...]...
52. 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. [...]...
53. Spot In foreign exchange and commodities markets, the current price for a given commodity or currency; the spot price is contrasted with the futures price, which is the price that is offered for delivery at some specified time in the future.......
54. Committee on Foreign Investment in the United States Committee on Foreign Investment in the United States (CFIUS) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Committee on Foreign Investment in the United States (CFIUS): A US government inter-agency [...]...
55. Agio A premium paid in the process of exchanging one currency for another, or for a bill of exchange denominated in a foreign currency.......
56. 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), ......
57. 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......
58. Price Undertaking Price Undertaking and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Price Undertaking: An agreement by an exporting firm with the government of an " importing country to raise the [...]...
59. 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 (...
60. 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......
61. Sliding Scale Tariff A customs tariff in which rates of DUTY (read this and related legal terms for further details) vary according to the price of a given import. Usually, as the price of the item declines, the duty is reduced. Duties may b......
62. 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.......
63. 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......
64. 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 (...
65. 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......
66. 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.......
67. 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 [...]...
68. Southern Common Market Southern Common Market in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Southern Common Market: Mercado Common del Sur (MERCOSUR) or Mercado Comum do Sui (MERCOSUL). A common market including Argentina, [...]...
69. 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......
70. 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......
71. International Reserves Gold, hard currencies, and special drawing rights (read this and related legal terms for further details) issued by the international monetary fund (...
72. Trade Agreements Act Of 1979 An act of Congress implementing certain agreements negotiated under the Tokyo Round (read this and related legal terms for further details). The act replaced the Countervailing Duty Law and Antidumping Act of 1921 and ab......
73. 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......
74. Clear Market Price Resources See Also Fair market value...
75. Foreign Corrupt Practices Act A Federal law, adopted in 1977, that forbids any U.S. company, its officers, employees, directors, agents, or major stockholders to make payments to any foreign official, candidate for office, or political party as an inducement to obtain, retain, or expand business. Violation of the act authorizes ......
76. Foreign Currency Statement A financial statement prepared using a functional currency other than that in which the firm customarily reports.......
77. Foreign Currency Translation The accounting process employed in expressing, in terms of a firm's reporting currency, those transactions that are denominated in a different currency.......
78. Foreign Traders Index A database of foreign importers or potential importers of American products maintained by the International Trade Administration of the U.S. Department of Commerce as a source of business data for U.S. exporters. The file contains information on more than 140,000 potential purchasers in 143 countrie......
79. 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......
80. 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......
81. Fair Market Value The value an imported product would fetch, under similar circumstances of sale, were the goods sold in the country of origin. Customs authorities are usually interested in the fair market value of imported merchandise inasmuch as sales below such value may serve as the basis of a Dumping (...
82. Free Market The economic system of a nation in which market forces determine which goods and services are produced, and at what price they are offered. Free market economies do not contain substantial government controls on resource availability, price levels, or central planning of economic objectives.......
83. Foreign Law Contents Foreign Law Foreign law and international law are distinct areas of law. Foreign law, froma an U.S. perspective, involves ... Read more...
84. Foreign Sovereign Inmunity Act Contents Foreign Sovereign Inmunity Act US main Decisions: 1. Philippines v. Pimentel 2. Philippines v. Pimentel 3. Owens v. Sudan ... Read more...
85. Foreign Laws Contents Foreign Laws Secondary Sources: The subscription-based Foreign Law Guide: Current Sources of Codes and Basic Legislation in Jurisdictions of ... Read more...
86. Foreign Service The Foreign Service Introduction to the Foreign Service Today, most nations staff their foreign services with career civil servants who are selected on the basis of competitive examinations. Until recent times, however, foreign service personnel were political appointees, often from noble [...]...
87. Foreign Banking Corporations An Edge Act bank. See Edge Act Corporation.......
88. Foreign Bill Of Exchange A bill of exchange (read here for further details) drawn in one state or country and payable in another.......
89. Foreign Corporation A corporation operating in a jurisdiction other than the one in which it was chartered. For example, a corporation chartered in France and one chartered in Connecticut would be equally foreign in New York. Occasionally the term alien corporation is applied to distinguish corporations chartered in no......
90. Foreign Currency Transaction For accounting purposes, a transaction stated in terms of a currency other than the firm's functional currency. The purchase or sale of goods priced in terms of a foreign currency and the lending or borrowing of foreign funds represent such transactions.......
91. 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......
92. Foreign Investment Review Act An act of the Canadian Parliament directed toward protection of Canada's economy from domination by foreign direct and portfolio investment. The act is concerned with the establishment or takeover of Canadian businesses only; the acquisition of shares in Canadian firms, where such acquisition do......
93. Foreign Sovereign Immunities Act Summary of Foreign Sovereign Immunities Act An act of Congress passed in 1976 and having effect from January 19, 1977, clarifying the circumstances under which foreign states, their political subdivisions, and state-owned corporations may lose sovereign immunity and become subject to the [...]...
94. Foreign Trade Zone An enclosed area in or near a port of entry that, while located on American territory, is effectively outside the customs jurisdiction of the United States. Such zones were authorized by the Foreign Trade Zones Act of 1934 as areas where foreign products might be entered, stored, manipulated, manufa......
95. Foreign Sovereign Immunities Jurisdiction of States Note: This section covers also the Principles of Jurisdiction. Immunities from Jurisdiction The principle of sovereign equality of States requires that the official representatives of one State should not be subject to the jurisdiction of another State. For example, [...]...
96. Foreign Investment THE ROLE IN THE PROTECTION AND PROMOTION OF FOREIGN INVESTMENT OF: The World Bank Convention on the Settlement of Investment Disputes (ICSID); The Convention establishing the Multilateral Investment Guarantee Agency; and Bilateral Investment Protection Agreements (IPPAs). (London, 1994) The [...]...
97. Foreign Affairs In relation to the foreign affairs and constitutional law, Helmut Philipp Aust[1] made the following observation: The domain of foreign affairs is referred to in constitutional law and its scholarship in order to demarcate the conduct of the foreign relations of a state from other, at [...]...
98. Foreign Base Finance Company It was a financing operation organized abroad (usually in a tax haven) that had as its main purpose the arranging of loans abroad in Eurocurrencies, almost always on behalf of its parent or affiliates.......
99. Foreign International Sales Corporation A foreign corporation controlled by a Domestic International Sales Corporation(read this and related legal terms for further details) (DISC) that satisfies the requirements of Section 993 of the Internal Reve......
100. Arm's Length Price The price at which a given commodity would sell in a sale between an unrelated buyer and seller. Arm's length pricing is the functional opposite of transfer pricing, in which the buyer and seller are related and the price is influenced by that relationship.......
101. Cash Price The same as SPOT price (read this and related legal terms for further details), as used in grain transactions.......
102. Constructed Price A value for customs purposes that ignores the invoice price of the merchandise but is derived by computing the cost inputs of the product (materials plus reasonable manufacturing expenses in the country of origin plus a profit factor), to which are added the normal costs associated with preparing th......
103. Price Cartel An agreement among business entities to fix prices, to establish ranges within which prices may move, or to establish methods by which prices may be determined.......
104. Price Supports A program of governmental action designed to stabilize or lift the price that producers receive for their products. These actions may include direct cash payments, government purchase of output to force up market prices, or special financing. Such supports are most commonly applied to agriculture.......
105. 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. ......
106. World Price The price at which a given commodity is selling internationally under market conditions in effect at the time of sale. To provide a valid comparison between prices, the world price quoted must normally include quality, location, and perhaps other factors, depending upon the commodity.......
107. American Selling Price A method formerly employed in the United States to establish the value for duty of a limited number of imported products. Under the ASP scheme, an imported product's value for duty was based upon the selling price of like products manufactured in the United States, irrespective of the price the ......
108. Commodity Price Index An index of prices for a stipulated list of commodities. Prices may be on a spot or futures basis. Customarily, major commodities are traded on exchanges (although there are some exceptions), and price fluctuations can be monitored accordingly. The U.S. Department of Labor maintains an index of twen......
109. Consumer Price Index Summary of Consumer Price Index An index of the retail price of four hundred consumer products and services, computed monthly by the Bureau of Labor Statistics. Formerly known as the Cost of Living Index, the compilation includes retail price inputs of given items from many cities across [...]...
110. Equilibrium Relative Price Of Currencies Synonymous with rate of exchange, i.e., the price, in terms of one national currency, at which another currency can be purchased under market conditions.......
111. International Price Index A price index that serves as a standard to measure inflation in industrialized countries. The index consists of the C.I.F. value (in U.S. dollars) of exports of industrial country manufactures to developing countries.......
112. Trigger Price Mechanism A program of import surveillance instituted by the U.S. government in 1977. Under this scheme, a floor price is established for designated import items; this floor is predicated upon the production cost of the most efficient foreign producer, with adjustments for freight and currency [...]...
113. Uniform Delivered Price A single delivered price that is offered to all customers within a defined geographic area, irrespective of the actual cost of delivering the merchandise.......
114. Central Market A spot commodity market that serves as a national or regional center of trading activity, and often large-scale distribution of the products as well. Transactions are usually performed by dealers who serve as intermediary brokers between buyers and sellers.......
115. Common Market Summary of Common Market A supranational organization of trading nations, created to promote economic collaboration and minimize constraints on the free movement of goods among the member states. Features of a common market include elimination of tariffs on goods moving between member [...]...
116. Interbank Market A market for the purchase and sale in the spot and forward markets for foreign exchange among major commercial banks. Very often, these banks will offer to purchase or sell exchange through brokers, thereby initially protecting the identity of the market participants in a given currency at a point i......
117. Market Access Summary of Market Access The degree of participation in the domestic market that a nation allows to foreign suppliers. Tariffs, quotas, and similar protective devices are devices imposed to limit market access. (Main Author: William J. Miller) Market Access and National Treatment in the [...]...
118. Market Disruption A condition in which foreign imports of a given product increase in quantity so rapidly as to cause, or threaten to cause, material injury to a competing domestic industry. A finding of market disruption before the International Trade Commission may result in retaliatory actions against the [...]...
119. Andean Common Market Considered in Andean Group.......
120. Carribbean Community And Common Market Commonly known as Caricom, the successor organization to the defunct Caribbean Free Trade Association (Carifta). The object of CARICOM was to stimulate regional development through the adoption of a common external tariff and uniform protectionist measures, harmonization of fiscal affairs, and conce......