Related Entries of the International Encyclopedia:

1. 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 [...]...
2. 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.......
3. 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 [...]...
4. 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.......
5. 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.......
6. 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 [...]...
7. 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 [...]...
8. 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....
9. International Contracts International Contracts in International Trade Meaning of International Contracts, according to the Dictionary of International Trade (Global Negotiator): International contracts refers to a legally binding agreement between parties, based in different countries, in which they are obligated to [...]...
10. 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....
11. 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 [...]...
12. 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 [...]...
13. 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.......
14. 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 [...]...
15. Outright Outright in International Trade Meaning of Outright, according to the Dictionary of International Trade (Global Negotiator): In foreign exchange, a forward purchase or sale of currency which is not offset by a corresponding spot transaction. i.e. which has not been contracted through swaps. [...]...
16. 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......
17. Hedging The act of avoiding price fluctuations over time of commodities or foreign currencies by buying or selling "forward." By hedging, a merchant fixes the future price of a commodity or currency. For example, an American who has purchased ten thousand yards of cloth at one pound per yard [...]...
18. 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 [...]...
19. 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 [...]...
20. 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 [...]...
21. Foul Bill of Lading Foul Bill of Lading in International Trade Meaning of Foul Bill of Lading, according to the Dictionary of International Trade (Global Negotiator): A receipt for goods issued by a carrier with an indication that the goods were damaged or short in quantity when received. See bill of lading....
22. Consignor The person or firm shown as shipper on the BILL OF LADING (read this and related legal terms for further details).......
23. 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......
24. 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 [...]...
25. 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 [...]...
26. Liquidated Damages In the United States For information about Liquidated damages in the context of international trade, click here Liquidated Damages in International Trade Meaning of Liquidated Damages, according to the Dictionary of International Trade (Global Negotiator): A sum of money that a contracting [...]...
27. Bank Acceptance Bank Acceptance in International Trade Meaning of Bank Acceptance, according to the Dictionary of International Trade (Global Negotiator): A draft accepted by a bank usually for the purpose of financing the sale of goods to or by the bank's customer. The bill may be drawn , for example, by [...]...
28. 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.......
29. 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 [...]...
30. Agio A premium paid in the process of exchanging one currency for another, or for a bill of exchange denominated in a foreign currency.......
31. Oanda Oanda in International Trade Meaning of Oanda, according to the Dictionary of International Trade (Global Negotiator): Currency converter and calculator tool used by major corporation, tax authorities, auditing firms, and individuals around the world. See exchange rate....
32. Convertible Currency Convertible Currency in International Trade Meaning of Convertible Currency, according to the Dictionary of International Trade (Global Negotiator): A currency of a nation that may be exchanged for that of another nation without restrictions. Countries with convertible currencies typically [...]...
33. Avoidance of Contract Definition of Avoidance of Contract in International Trade The following is a concept of Avoidance of Contract in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): The legal cancellation of a contract because an event occurs that makes [...]...
34. European Option European Option in International Trade Note: there is more information about this term in the European legal Encyclopedia. Meaning of European Option, according to the Dictionary of International Trade (Global Negotiator): A foreign exchange type of contract containing a provision to the [...]...
35. Bill of Parcels Bill of Parcels in International Trade Meaning of Bill of Parcels, according to the Dictionary of International Trade (Global Negotiator): A statement that lists the descriptions and prices of goods in a parcel and that is sent to the buyer with the goods. Also called packing list....
36. Swap By agreement, the combined purchase and sale of a specified amount of foreign exchange, with different dates for sale and purchase. This arrangement permits each party to the transaction to use, for a given period of time, a currency he needs in return for one he does not need, without any [...]...
37. Fiata Bill of Lading (FBL) Fiata Bill of Lading in International Trade Meaning of FBL (Fiata Bill of Lading), according to the Dictionary of International Trade (Global Negotiator): The FIATA Bill of Lading serves as a shipping contract and a proof that the goods have been carried with the use of more than one [...]...
38. Countertrade A commercial arrangement in which the buyer pays for his purchases, wholly or partly, with something other than money. Very often countertrade deals include some cash, but a significant portion of the transaction is settled with commodities or services. Countertrade has been employed heavily [...]...
39. Consignment Summary of Consignment Goods in transit under a bill of lading (read this and related legal terms for further details)(Main Author: William J. Miller) Consignment in International Trade Meaning of Consignment, according to the Dictionary of International Trade (Global [...]...
40. Sea Waybill Sea Waybill in International Trade Meaning of Sea Waybill, according to the Dictionary of International Trade (Global Negotiator): A transport document for maritime shipment which serves as evidence of the contract of carriage and as a receipt for the goods, but is not a document of title. The [...]...
41. Carrier Summary of Carrier A firm engaged in the business of transporting persons or goods for profit. Railroads, trucking companies, airlines, and steamship operators are examples of carriers. Carriers can be divided into three categories: the private carrier moves only its own goods or those of [...]...
42. Consignee The person or firm to whom goods are shipped under a bill of lading (read this and related legal terms for further details) and so named in the bill.......
43. Letter of Indemnity A document issued by a shipper of merchandise to a steamship line as an inducement for the carrier to issue a clean bill of Lading (read this and related legal terms for further details) where it might not otherwise do s......
44. Bill of Adventure Bill of Adventure in International Trade Meaning of Bill of Adventure, according to the Dictionary of International Trade (Global Negotiator): A written certificate used in goods that are shipped under the name of a merchant, shipmaster, or shipowner. It certifies that the property and risk in [...]...
45. Stop Loss Order Stop Loss Order in International Trade Meaning of Stop Loss Order, according to the Dictionary of International Trade (Global Negotiator): An order to buy (on a short position) or to sell (on a long position) foreign exchange if the rate rises above or falls below a specific limit. As soon as [...]...
46. Claused Bill of Lading Claused Bill of Lading in International Trade Meaning of Claused Bill of Lading, according to the Dictionary of International Trade (Global Negotiator): A bill of lading that contains notations or remarks as to defects in the goods or packaging. Also called foul or dirty bill of lading. See [...]...
47. Convention on International Bills of Exchange and International Promissory Notes Contents Convention on International Bills of Exchange and International Promissory Notes   Article 1 (1) This Convention applies to an ... Read more...
48. 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......
49. Hamburg Rules A proposed international convention dealing with carrier liability for loss or damage to cargo transported by sea. Known formally as the United Nations Convention on the Carriage of Goods by Sea 1978, the convention was the product of a conference held at Hamburg, Federal Republic of [...]...
50. Bearer Document Bearer Document in International Trade Meaning of Bearer Document, according to the Dictionary of International Trade (Global Negotiator): A negotiable document such as a pawn ticket, a duly-endorsed cheque, or one payable to the order cash, or a negotiable warehouse receipt, whereby the [...]...
51. Barter Summary of Barter A direct exchange of products without cash. In some cases, a third party is brought into the transaction to dispose of some or all of the goods in a third country; this practice is known as switch trading. See Countertrade.(Main Author: William J. Miller) Barter [...]...
52. Commercial Bill A bill of exchange (read here for further details) that arises out of a transaction involving the sale of goods.......
53. Hard Money Hard Money (currency) in International Trade Meaning of Hard Money (currency), according to the Dictionary of International Trade (Global Negotiator): Currency of a nation having stability in the country and abroad. Refers to currency that is accepted internationally and freely convertible. [...]...
54. Straight Straight B/L in International Trade Meaning of Straight B/l, according to the Dictionary of International Trade (Global Negotiator): A non-negotiable bill of lading which specifies the consignee to whom the goods are to be delivered. It is used when payment for the goods has been made in [...]...
55. 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......
56. 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 [...]...
57. 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 [...]...
58. Foreign Bill Of Exchange A bill of exchange (read here for further details) drawn in one state or country and payable in another.......
59. F.O.B. Contract Definition of F.O.B. ContractIn accordance with the work A Dictionary of Law, this is a description of F.O.B. Contract : (free on board contract) A type of contract for the international sale of goods in which the seller's duty is fulfilled by placing the goods on board a ship. There are [...]...
60. Contract Carriage Read Carrier as cross-reference......
61. Contract Of Affreightment Contract Of Affreightment Summary of Contract Of Affreightment A contract, between the shipper of goods and a transport company, specifying the terms and conditions under which a given lot of merchandise is to be moved. The contract is usually evidenced by a bill of lading containing the [...]...
62. Contract Shipper A merchant that has executed an Exclusive Patronage Contract (read this and related legal terms for further details) with a shipping conference, thereby agreeing to ship all its goods aboard vessels of steamship lines th......
63. Exclusive Patronage Contract Also known as a merchant's contract or shipper's rate agreement, an agreement whereby a shipper of goods by water agrees to ship all his cargo over a given trade route aboard carriers that are member lines of the steamship CONFERENCE (read th......
64. Management Contract An arrangement whereby a firm manages or operates a foreign plant on behalf of its local owners in return for a stipulated fee or percentage of the profits.......
65. Merchant's Contract In steamship usage, a Loyalty Agreement (read this and related legal terms for further details).......
66. Future Contract Future Contract in International Trade Meaning of Future Contract, according to the Dictionary of International Trade (Global Negotiator): A contract for the future of delivery of a commodity, currency or security on a specific date. Currency future contracts are for standard quantities over [...]...
67. Long Date Forward Long Date Forward in International Trade Meaning of Long Date Forward, according to the Dictionary of International Trade (Global Negotiator): A forward exchange contract whose maturity exceeds one year. See also forward exchange contract....
68. 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 ......
69. 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.......
70. 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 [...]...
71. Foreign Exchange Control Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance International Public Finance...
72. Foreign Exchange Reserve Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance International Public Finance...
73. Tie-In Contract An arrangement by which a desired product (tying product) can be purchased only upon agreement to purchase certain other products (tied products). Tie-in contracts are largely forbidden by the antitrust Clayton Act. ......
74. Contract Introduction to Contract Contract, in law, an agreement that creates an obligation binding upon the parties thereto. The essentials of a contract are as follows: (1) mutual assent; (2) a legal consideration, which in most instances need not be pecuniary; (3) parties who have legal capacity [...]...
75. Capacity to Contract Capacity to Contract • Barriers to Contract--you either have the right to contract or not ? Analogous to Civil Procedure: either have standing or not. ? Constitutional Law: citizenship barriers. Graded (resident aliens, etc..), but sets up right to 'enter' legal system vs. not. [...]...
76. Contract Demurrage Liquidated damages payable by a charterer to a vessel owner for holding up the ship beyond the time allocated in the charter party. The rate of demurrage is stipulated in the charter party, and is calculated on a per day or per hour basis.......
77. 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 (...
78. Breach of Contract Breach of Contract, in law, failure, deliberate or unintentional, without legal justification, to comply with the terms of a contract. In certain cases, however, if the contractor has acted in good faith and has performed substantially all obligations, the courts have held that mere deviation [...]...
79. Contract Types Types of ContractsIntroduction to Contract TypesContracts are often classified as either contracts by specialty or simple contracts. Another class of obligations, sometimes referred to as contracts of record, are conclusive legal obligations created by the judgment or order of a co......
80. Futures Contract Futures Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Futures Contract: A contract for goods, foreign exchange, or financial assets to be delivered at a certain future date on terms and at [...]...
81. Turnkey Contract Turnkey Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Turnkey Contract: An arrangement under which a contractor assumes responsibility to a client for constructing productive installations and [...]...
82. Business Cooperation Contract Business Cooperation Contract (BCC) in International Trade Meaning of Business Cooperation Contract (BCC), according to the Dictionary of International Trade (Global Negotiator): An agreement by two companies to work together for mutual benefit, but without a long-term binding contract. Either [...]...
83. Carriage Contract Carriage Contract in International Trade Meaning of Carriage Contract, according to the Dictionary of International Trade (Global Negotiator): An agreement between a carrier and another party for transportation. The other party will normally be the seller (or seller's agent) with freight [...]...
84. Consignment Contract Consignment Contract in International Trade Meaning of Consignment Contract, according to the Dictionary of International Trade (Global Negotiator): A contract by which a seller (consignor) delivers goods to an individual or entity (consignee) that will sell them. For goods sold, the consignee [...]...
85. Contract Guarantee Contract Guarantee in International Trade Meaning of Contract Guarantee, according to the Dictionary of International Trade (Global Negotiator): An agreement by a third party to be responsible for the performance of a contracting party. There are three major types of contract guarantee: tender [...]...
86. Contract Manufacturing Contract Manufacturing in International Trade Meaning of Contract Manufacturing, according to the Dictionary of International Trade (Global Negotiator): Contract manufacturing in international markets is used in situations when one company arranges for another company in a different country to [...]...
87. Expatriate Contract Expatriate Contract in International Trade Meaning of Expatriate Contract, according to the Dictionary of International Trade (Global Negotiator): Changes in the world economy have made most of the jobs for executives and managers focus on the so-called emerging countries (China, India, [...]...
88. Export Contract Export Contract in International Trade Meaning of Export Contract, according to the Dictionary of International Trade (Global Negotiator): The export contract is used for the international sale of certain products (industrial supplies, raw materials, manufactured goods), which are projected [...]...
89. Import Contract Import Contract in International Trade Meaning of Import Contract, according to the Dictionary of International Trade (Global Negotiator): The import contract is suitable when a company is buying goods from abroad by way of import in the course of a business to business transaction. The [...]...
90. Integrated Contract Integrated Contract in International Trade Meaning of Integrated Contract, according to the Dictionary of International Trade (Global Negotiator): A contract that states every provision to which the parties intend to agree. Parol evidence cannot be used to change or supplement the provisions [...]...
91. International Sales Contract International Sales Contract in International Trade Meaning of International Sales Contract, according to the Dictionary of International Trade (Global Negotiator): An agreement between a seller and a buyer for the sale of goods. The contract should, at a minimum, identify the seller and [...]...
92. Logistic Services Contract Logistic Services Contract in International Trade Meaning of Logistic Services Contract, according to the Dictionary of International Trade (Global Negotiator): The logistics contract regulates relations between the companies that provide these services – known as logistics operators [...]...
93. Open-end Contract Open-end Contract in International Trade Meaning of Open-end Contract, according to the Dictionary of International Trade (Global Negotiator): A contract by which the buyer may purchase the seller's goods at any time within a specified period without changes in the price or other contract terms....
94. Supply Contract Supply Contract in International Trade Meaning of Supply Contract, according to the Dictionary of International Trade (Global Negotiator): An agreement by which a seller promises to supply all of the specified goods or services that a buyer needs over a certain time and at a fixed price, and [...]...
95. Unenforceable Contract Unenforceable Contract in International Trade Meaning of Unenforceable Contract, according to the Dictionary of International Trade (Global Negotiator): A contract that is valid, but which the court will not enforce because of some defect such as nondisclosure, an extraordinary event or other [...]...
96. Voidable Contract Voidable Contract in International Trade Meaning of Voidable Contract, according to the Dictionary of International Trade (Global Negotiator): A contract that is valid but that can be declared invalid at the request of one of the parties because of a defect or illegality in making it. For [...]...
97. Sources of Contract Law Sources of Contract Law: Main Elements The coverage of Sources of Contract Law includes the following main elements: Federal Law For detailed information on this issue, please read the corresponding entry. The Restatement and the UCC There is information on this basic subject matter in this [...]...
98. Contract Contents The Contents of the Contract Find out, in this world legal encyclopedia, additional information relating to The Contents of the Contract....
99. Comparative Contract Law Contents Comparative Contract Law This entry provides an overview of comparative contract law. It shows several differences between the civil ... Read more...
100. Uniform Rules for Contract Guarantees Uniform Rules For Contract Guarantees (URCG) in International Trade Meaning of Uniform Rules For Contract Guarantees (urcg), according to the Dictionary of International Trade (Global Negotiator): The International Chamber of Commerce (ICC) has established a set of contractual rules that may [...]...
101. 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.......
102. 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 [...]...
103. Dollar Exchange A draft or bill of exchange, wherever drawn, payable in U.S. dollars.......
104. 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 [...]...
105. Letter Of Exchange An infrequently used synonym for bill of exchange (read here for further details).......
106. 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.......
107. 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.......
108. Pecuniary Exchange The settlement of obligations by payment of money, rather than by goods or services.......
109. Premium (Exchange) In foreign exchange transactions, the rise in value of one currency when measured against another currrency.......
110. 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......
111. Sole Of Exchange Bill of Exchange is considered here.......
112. 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 [...]...
113. 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. [...]...
114. 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....
115. Bilateral Exchange Rates The European Monetary System is considered here.......
116. 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.......
117. 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......
118. Dollar Bill Of Exchange Synonymous with Dollar Exchange (read this and related legal terms for further details).......
119. 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......
120. 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.......