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. 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 [...]...
3. 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 [...]...
4. 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.......
5. 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 [...]...
6. 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 [...]...
7. 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....
8. 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 [...]...
9. 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 [...]...
10. Tariff Biding Tariff Biding in International Trade Meaning of Tariff Biding, according to the Dictionary of International Trade (Global Negotiator): Commitment not to increase a rate of duty beyond an agreed level. Once a rate of duty is bound, it may not be raised without compensating the affected parties....
11. Tariff Quotas Tariff Quotas in International Trade Meaning of Tariff Quotas, according to the Dictionary of International Trade (Global Negotiator): Application of a higher tariff rate to imported goods after a specified quantity of the product has entered the country at a lower prevailing rate. See quota....
12. 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 [...]...
13. 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 [...]...
14. 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. ......
15. 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 [...]...
16. 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 [...]...
17. General Tariff A tariff schedule in which a single rate of duty applies to a given commodity irrespective of the country of origin. A general tariff makes no provision for preferential duties.......
18. 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.......
19. 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 [...]...
20. Multiple Currency System Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
21. 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....
22. Weight W/M in International Trade Meaning of W/m, according to the Dictionary of International Trade (Global Negotiator): Weight or measurement is a method of quoting freight rates: 1. for sea freight, per metric ton (1.000 kilograms) or per cubic meter (35.3 cubic feet) whichever is greater; 2. for [...]...
23. 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.......
24. Unilinear Tariff Synonymous with general TARIFF (read this and related legal terms for further details). Union D'Assureurs Des Credits Inter- Nationaux. The full, formal name of the Berne Union (...
25. Baf Baf in International Trade Meaning of Baf, according to the Dictionary of International Trade (Global Negotiator): The Bunker Adjustment Factor is an additional charge added to the base rate ocean freight cost reflecting the cost of fuel (called bunkers)to be used for the voyage. This charge [...]...
26. 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 [...]...
27. 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......
28. Berth A stipulation in a vessel charter party (read this and related legal terms for further details) that laytime ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms ......
29. 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 [...]...
30. Nes Nes in International Trade Meaning of Nes, according to the Dictionary of International Trade (Global Negotiator): Not elsewhere specified is used for an item that is not mention elsewhere in a classification system, such as a customs or freight tariff. Similar to NESOI (Not elsewhere [...]...
31. 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.......
32. Surcharge Surcharge and International Trade Resources See Also Import Surcharge...
33. 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 [...]...
34. Free in and Out A condition in transportation under which the carrier has no responsibility to load or unload the vessel, barge, or other conveyance. The shipper is obliged to stow the cargo, and the consignee to effect unloading; loading and unloading expenses may be borne by either the shipper or the [...]...
35. Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
36. 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 [...]...
37. 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......
38. 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......
39. Gross Terms Synonymous with Gross Charter (read this and related legal terms for further details).......
40. 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......
41. CFS CFS Charge in International Trade Meaning of Cfs Charge, according to the Dictionary of International Trade (Global Negotiator): The charge assessed for services performed at the origin or destination for loading or unloading of cargo into/from containers at a CFS Container Freight Station....
42. Measurement Ton An expression of cubic measurement equal to forty cubic feet, used either to define the interior of a vessel or as a basis for assessing freight on cargo. With virtually worldwide conversion to metric measurement, a measurement/stow ton may be defined as the equal of a cubic meter, depending [...]...
43. 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......
44. 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 [...]...
45. Common External Tariff Summary of Common External Tariff The uniform customs tariff applied by all the member states of a customs union or common market to imports from nonmember nations.(Main Author: William J. Miller) Common External Tariff and the GATT Policy Negotiations In relation to the GATT [...]...
46. 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 [...]...
47. 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......
48. Nesoi Nesoi in International Trade Meaning of Nesoi, according to the Dictionary of International Trade (Global Negotiator): Not elsewhere specified or indicated is used for an item that is not mention elsewhere in a classification system, such as a customs or freight tariff. Similar to NES (Not [...]...
49. Economic Union Summary of Economic Union Also known as an economic community, an advanced form of economic integration on the part of several states. The economic union incorporates the features of a Common market (read this and related legal terms for further details)—unrestricted free trade among [...]...
50. Double Column Tariff Double-Column Tariff and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Double-Column Tariff: A tariff schedule listing two duty rates for some or all commodities. In any given case, the [...]...
51. Intermodal Transport Intermodal Transport in International Trade Meaning of Intermodal Transport, according to the Dictionary of International Trade (Global Negotiator): The coordinated transport of freight, especially in connection with relatively long-haul movements using any combination of freight forwarders, [...]...
52. Consignor The person or firm shown as shipper on the BILL OF LADING (read this and related legal terms for further details).......
53. 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 [...]...
54. 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. [...]...
55. 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......
56. 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 [...]...
57. Freight Collect Freight Collect in International Trade Meaning of Freight Collect, according to the Dictionary of International Trade (Global Negotiator): A shipping arrangement whereby the carrier collects its freight charges from the consignee rather than from the shipper. This usually happens when the [...]...
58. 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. [...]...
59. 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 [...]...
60. Freight Prepaid Freight Prepaid in International Trade Meaning of Freight Prepaid, according to the Dictionary of International Trade (Global Negotiator): A shipping arrangement whereby the carrier is paid its freight charges by the shipper rather than by the consignee. This usually happens when the contract [...]...
61. Freight Prepayable Freight Prepayable in International Trade Meaning of Freight Prepayable, according to the Dictionary of International Trade (Global Negotiator): Terminology designed by carriers to provide transportation documentation indicating the freight charges are for the account of the shipper, while no [...]...
62. Freight Rebate Freight Rebate in International Trade Meaning of Freight Rebate, according to the Dictionary of International Trade (Global Negotiator): A refund of a portion of previously paid transportation charges, usually in return for the shipper's tendering a certain volume of freight to the [...]...
63. 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 [...]...
64. Freight Forwarding Resources See Also International Trade Trade Regulation International Economic Law Export License International Trade Law Foreign Trade Safeguard Transport...
65. Freight Broker Synonymous with Cargo Broker (read this and related legal terms for further details), in vessel charter transactions.......
66. Freight-Allowed Pricing Synonymous with zone-delivered pricing (read this and related legal terms for further details).......
67. Freight Forwarding Contracts Freight Forwarding Contracts in Private International Law This section contain conflict of laws information and cross references related to freight forwarding contracts on some major countries and additional jurisdictions. It covers key issues involved when citizens face international [...]...
68. Dead Freight A payment made by a charterer to the owner of a vessel as compensation for stowing the ship to less than its capacity. The charterer is bound to ship a "full and complete cargo"; since freight is payable only on the cargo actually shipped, failure to deliver a full load deprives the [...]...
69. Bulk Freight Bulk Freight in International Trade Meaning of Bulk Freight, according to the Dictionary of International Trade (Global Negotiator): Freight not in packages or containers. For example, grain or timber....
70. Cost and Freight (CFR) Cost and Freight in International Trade Meaning of Cost and Freight, according to the Dictionary of International Trade (Global Negotiator): In Incoterms CFR the seller must pay the costs and freight necessary to bring the goods to named port of destination but the risk of loss and [...]...
71. 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 [...]...
72. Guaranteed Freight Guaranteed Freight in International Trade Meaning of Guaranteed Freight, according to the Dictionary of International Trade (Global Negotiator): Freight charges that are not prepaid but are payable whether the cargo is delivered or not, provided that failure to deliver resulted from causes [...]...
73. Unclaimed Freight Unclaimed Freight in International Trade Meaning of Unclaimed Freight, according to the Dictionary of International Trade (Global Negotiator): Freight that has not been called for or picked up by the consignee or owner....
74. Container Freight Station A warehouse or terminal licensed by U.S. Customs to receive in-bond consolidations of containerized cargo. The containers delivered to this station carry imported merchandise in small lots destined to many consignees; the goods will be removed from the containers under customs supervision and [...]...
75. Foreign Freight Forwarder A firm, licensed by the Federal Maritime Commission, that serves as the agent of a merchant in arranging the shipment of goods by water. Among other services, the forwarder obtains vessel space, prepares documents, and arranges delivery of merchandise to the pier.The forwarder is paid a......
76. Cost, Insurance and Freight (CIF) Cost, Insurance and Freight in International Trade Meaning of Cif Cost, Insurance and Freight, according to the Dictionary of International Trade (Global Negotiator): In this Incoterms, the seller has the same obligations as under CFR but with the addition hat he has to procure marine [...]...
77. Distance Freight Additional freight monies due to a vessel owner by the charterer when, in the opinion of the ship's captain, ice conditions preclude discharge at the intended port and the vessel must divert to an alternative, more distant port. As a practical matter, such additional freight is not charged unles......
78. Distress Freight Cargo carried by a ship at a depressed freight rate because, in the absence of that cargo, the vessel would be obliged to sail empty or nearly so to its next port. The term is used most commonly in connection with tramp vessels.......
79. Rebate (Freight) In trade routes not involving the United States (e.g., Japan to Europe), the practice is legal and accepted. Rebating is often institutionalized in the merchant's contract with a Conference (read this legal term for further details), wherein ......
80. Tariff (Freight) A document issued, usually in booklet form, by a Common Carrier (read this and related legal terms for further details) listing its charges for transportation services. Commonly, the rate, or cost of transportation, vari......
81. Air Freight Definition of Air Freight in International Trade The following is a concept of Air Freight in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A service providing for the air transport of goods. The volume of air freight has been [...]...
82. Air Freight Consolidator Definition of Air Freight Consolidator in International Trade The following is a concept of Air Freight Consolidator in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A company that obtains a low freight-of-all-kinds freight rate from [...]...
83. Air Freight Forwarder Definition of Air Freight Forwarder in International Trade The following is a concept of Air Freight Forwarder in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A freight forwarder for shipments by air. In many respects, air freight [...]...
84. 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. [...]...
85. 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 [...]...
86. 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....
87. 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....
88. 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...
89. Customary Freight Unit As used within the context of the Carriage of Goods by Sea Act, the unit upon which freight is assessed on bulk or unpackaged cargoes. The act provided that a carrier's liability for loss or damage to cargo shall be limited (in the 1980s) to $500 per package, or "other customary freight uni......
90. Ocean Freight Differential A sum rep resenting the difference in freight costs associated with moving subsidized agricultural exports on American rather than cheaper foreign vessels. The differential is provided for shipments under the Agricultural Trade Development And Assistance Act (...
91. International Tanker Nominal Freight Scale A schedule of nominal rates for movements of tankers between world ports. Publication was ceased in 1969; it has been succeeded by Worldscale (read this and related legal terms for further details).......
92. 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.......
93. Tax Rate Other Popular Tax Definitions in the World Legal Encyclopedia Adjusted Gross Income (sometimes, including Tax Rate) Ad......
94. 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)....
95. 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 ......
96. Any Quantity Rate A freight rate applicable to a specific commodity irrespective of the quantity shipped, without provision for quantity discounts.......
97. Bank Rate The rate at which the Bank of England and the Bank of Canada lend to commercial banks.......
98. 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.......
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. 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......
104. Combination Rate An inland freight rate from point of origin to destination derived by adding two or more intermediate rates.......
105. 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 (...
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. 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 ......
111. 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.......
112. 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.......
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. 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......
115. 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.......
116. 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.......
117. Minimum Lending Rate The rate at which the Bank of England lends to members of the discount market against the security of treasury bills or other government paper with less than five years to mature.......
118. 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.......
119. Noncontract Rate The freight rate applicable to commodities shipped by a firm that has not executed an exclusive patronage contract (read this and related legal terms for further details).......
120. Paper Rate A rate in a tariff under which no cargo moves.......