Related Entries of the International Encyclopedia:

1. 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......
2. Banker's Bill A bill of exchange drawn by a bank upon a foreign bank. Usually, these bills are drawn upon credit balances with foreign banks so as to make exchange available locally, and are clean bills of exchange. Bill of Exchange is considered here.......
3. 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 [...]...
4. 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.......
5. Gold Standard Summary of Gold Standard A system under which a nation's currency is freely convertible into gold. The quantity of gold per unit of currency is fixed by law. Most major trading nations, however, abandoned the gold standard because of the constraints it imposes upon liquidity, although [...]...
6. Gold Bullion Standard A monetary policy that permits redemption of currencies into gold, but only for significant amounts. Under a true gold standard, all currency is redeemable into gold on demand; under a gold bullion standard, gold might be redeemable only in minimum lots of one ingot.......
7. 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 [...]...
8. 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.......
9. 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.......
10. 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.......
11. 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.......
12. Private Bill A bill of exchange (read here for further details) drawn upon and accepted by a party other than a bank; trade acceptances, for example, are private bills.......
13. 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.......
14. 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......
15. Bretton Woods Agreement The product of an international conference on monetary and economic affairs held at the end of World War II, from which resulted the International Monetary Fund and the World Bank; the term is used most commonly in reference to a program for world monetary affairs that emerged from the conference an......
16. 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 [...]...
17. International Gold Bullion Standard A Gold Bullion standard (read this and related legal terms for further details) that permits redemption of currency into gold only for purposes of export.......
18. 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......
19. 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 [...]...
20. 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....
21. 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 [...]...
22. Promissory Note Introduction to Promissory Note Promissory Note, in the law of negotiable instruments, written instrument containing an unconditional promise by a party, called the maker, who signs the instrument, to pay to another, called the payee, a definite sum of money either on demand or at a specified [...]...
23. General Asset Currency Bank notes secured not by specific assets, e.g., gold or foreign currency on deposit, but by the overall assets of the issuer.......
24. League of Nations conventions Contents League of Nations conventionsConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries League of Nations conventions ... Read more...
25. 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 [...]...
26. 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 [...]...
27. 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 [...]...
28. Reserve Currency Summary of Reserve Currency The currency of a major trading national, widely accepted in international transactions and regarded as stable, that is held by the central banks or monetary authorities of other nations as a form of collateral for their own currency. The use of reserve [...]...
29. 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 [...]...
30. Forfaiting A means of financing trade based upon the transfer of debt obligations arising from the sale of goods and services, usually exports. The merchant sells to the forfaiter, without recourse, the debt obligation of the foreign purchaser, usually in the form of a trade bill of exchange or promissory [...]...
31. 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......
32. Cross Rate The ratio between the exchange rate of two currencies in relation to a third currency.......
33. Stop-Out An order to a bank to buy or sell a given quantity of a foreign currency when a specified exchange rate has been reached in market transactions.......
34. Yo-Yo Effect A condition that arises under the rules of Financial Accounting Standards Board Statement No. 8 (read this and related legal terms for further details) when a foreign company's total monetary assets differ from its t......
35. International Currency Trends in International Political Economy: International CurrencyIntroduction to International CurrencyExplosive growth in the exchange of foreign currencies in international markets has also transformed the global political economy (see foreign exchange). Advanced telecommunicatio......
36. 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....
37. 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 [...]...
38. Good Delivery Bar The standard gold bar used in international transactions, having a purity of at least 99.5 percent pure gold, and weighing between 350 and 430 troy ounces. The shape of the bar is immaterial, although U.S. bars are traditionally brick-shaped, whereas foreign-poured bars are trapezoidal.......
39. Gold Certificates Paper currency issued by the U.S. Treasury denominated in dollars and freely convertible by the bearer into gold at the fixed rate. When the United States went off the gold standard in 1933, gold certificates were removed from circulation, except for use by Federal Reserve banks.......
40. Gold Reserves The gold held by a nation as reserves for currency issued. After U.S. abandonment of the gold standard in 1933, Congress mandated that the Federal Reserve banks would have to hold gold certificates, reflecting gold on deposit with the U.S. Treasury equivalent to at least 25 percent of currency [...]...
41. Gold Wire The telegraphic transfer of gold among Federal Reserve banks to clear interbank balances. The gold is physically on deposit with the treasurer of the United States.......
42. Gold Clause A provision in a debt instrument defining the monetary obligation in terms of gold, or a dollar of a prescribed weight and fineness of gold......
43. Gold Crisis A condition that arises when a nation exports so much gold as to draw close to the amount legally required as a reserve for currency outstanding. Often this condition is the product of a severe and protracted deficit in balance of payments.......
44. Gold Franc A unit of exchange employed in certain international financial transactions. The gold franc contains .2903 grams of fine gold; it is identical with the Swiss franc prior to its 1936 devaluation.......
45. Gold Inflation A condition that arises in a nation where holdings of gold are tied to money supply, and excessive stocks of monetary gold increase the creation of money, resulting in inflation. The remedy for this condition is to remove gold from the treasury, thereby reducing the quantity of money available.......
46. Gold Points A variation in the value of two gold standard currencies against the value of physical gold so as to warrant the export of gold. For example, if the exchange rate for French francs rose above a certain point, it would be more profitable to export gold to France and sell it for francs than to exchang......
47. 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), ......
48. Gold Stock A nation's supply of monetary gold.......
49. 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......
50. Gold Flow Also known as gold movements, the pattern by which monetary gold enters and leaves a country. Theoretically, an inflow of gold should expand the national monetary supply; conversely, an export of gold should contract the money supply, thus eliminating imbalances in international payments over time. ......
51. Gma Standard Pallet A widely used variety of wooden pallet adopted in the 1960s by the Grocery Manufacturers of America to overcome logistical problems associated with a lack of uniformity of pallet sizes. The GMA pallet measures forty-eight by forty inches and permits four-way entry.......
52. Earmarked Gold Bullion or coin gold held by a nation, within its monetary reserves, in trust for another government.......
53. Paper Gold A common reference to Special Drawing Rights (read this and related legal terms for further details) issued by the International Monetary Fund.......
54. Super Gold Tranche A condition in which drawings by a member of the international Monetary Fund (read this and related legal terms for further details) cause fund holdings of the member's currency to fall below 75 percent of the member......
55. Two-Tier Gold Mart A system under which gold is traded at two distinct prices. A fixed price is set for transactions among governments, while a market price (subject to the supply and demand mechanism) is established for public-sector transactions. This system was reestablished in the United States in 1968. In those c......
56. 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. [...]...
57. Exchange Control The system by which a government regulates possession of and dealings in foreign exchange. The principal objective of exchange control is to allocate foreign exchange to necessary imports and expenditures. Normally, the finance ministry or central bank is invested with the authority to issue [...]...
58. Double Standard A program of precious metal coinage in which the nation employs two standards of value, usually gold and silver, each having a fixed ratio of value (the mint ratio). Under this system, either metal, in coined form, stands as legal tender. The double standard differs from bimetallism, with which it i......
59. Fiat Standard A monetary system in which the money in circulation is not redeemable in any other form of money (e.g., gold) but has value simply by virtue of its issuance by governmental authority.......
60. Fiduciary Standard Synonymous with FIDUCIARY CURRENCY (read this and related legal terms for further details).......
61. Lloyd's Standard Policy A form of marine policy adopted by Lloyd's in 1779 and recognized in Britain by the Marine Insurance Bill of 1899 and the Marine Insurance Act of 1906 as the standard policy for Britain; policy forms used in the United States vary from the Lloyd's policy, but significant portions are retaine......
62. Qparallel Standard A system under which a nation coins at least two metals, usually gold and silver, without establishing an exchange ratio between the metals. See bimetallism, mint par of Exchange.......
63. Single Standard A condition in which a nation endows a single metal as the basis of the monetary stock. This system is also known as monometallism. As a practical matter, virtually all commercial nations use gold as the standard.......
64. Standard Bullion Gold or silver in bars of the same composition as gold or silver coins. Since gold and silver coins consist of 90 precent precious metal and 10 percent base metal (usually copper), standard bullion would consist of a like mixture of precious and base metals. In effect, the bullion is suitable for im......
65. Standard Money Units of exchange created by lawful authority, i.e., legal tender.......
66. London Gold Pool An arrangement among certain European central banks and the Federal Reserve Bank of New York designed to maintain stability in the market price of gold in private transactions. The United States had been committed to buy and sell gold in official transactions at thirty-five dollars per ounce; a priv......
67. Monetary Gold Case Embracing mainstream international law, this section on monetary gold case explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "monetary gold case" in the Parry and Grant Encyclopaedic Dictionary of International Law [...]...
68. 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.......
69. 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.......
70. Pecuniary Exchange The settlement of obligations by payment of money, rather than by goods or services.......
71. Premium (Exchange) In foreign exchange transactions, the rise in value of one currency when measured against another currrency.......
72. 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......
73. 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.......
74. 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......
75. 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......
76. 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.......
77. 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 ......
78. 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.......
79. Multiple Exchange Rates Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
80. Standard Doctrine, Standard From the book The Clergyman's Hand-book of Law, about Doctrine, Standard (1): To ascertain the tenets and doctrines of a church, resort must be had to history and to prior and contemporary standard writings of its members on theology.31 Resources Notes and References [...]...
81. ISO Standard Resources See Also International Organization Foreign Relations Intergovernmental Organization Regional Organization Regional Integration...
82. Standard Price The target price (read this and related legal terms for further details) for tobacco under the Common Agricultural Policy of the European Economic Community.......
83. Standard Industrial Classification SIC (Standard Industrial Classification) and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of SIC (Standard Industrial Classification): The basic system used by the US Commerce Department to categorize similar [...]...
84. Standard Shipping Note Standard Shipping Note (SSN) in International Trade Meaning of Standard Shipping Note (SSN), according to the Dictionary of International Trade (Global Negotiator): It is the receiving document for ports and containers bases around the world, and advises of the necessary information to process [...]...
85. Reasonable Person Standard Reasonable Person Standard Explained References See Also Tort (in international or comparative law) Product Liability (in international or comparative law) Duties (in international or comparative law) Resources See Also Tort Product Liability Duties...
86. Standard of Living Standard of Living (in the Human Development Area) In this context, Standard of Living means: integrated index of socio-economic development, measured by aggregate data such as real per capita income, poverty rate, access to health care, the uneven growth of incomes, standards of education, [...]...
87. Common Standard of Civilization Embracing mainstream international law, this section on common standard of civilization explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "common standard of civilization" in the Parry and Grant Encyclopaedic Dictionary [...]...
88. International Minimum Standard Embracing mainstream international law, this section on international minimum standard explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "international minimum standard" in the Parry and Grant Encyclopaedic Dictionary [...]...
89. Minimum Standard Embracing mainstream international law, this section on minimum standard explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "minimum standard" in the Parry and Grant Encyclopaedic Dictionary of International Law [...]...
90. National Treatment Standard National Treatment (standard) Embracing mainstream international law, this section on national treatment (standard) explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "national treatment (standard)" in the Parry and [...]...
91. Standard of Review This section provides an overview of standard of review within the legal context of National Treatment in international economic law, with coverage of Non-Discrimination in Trade of Goods and Services (Principles). Resources Further Reading Petros C Mavroidis, "Standard of Review," [...]...
92. Standard-Setting Organizations Standard-Setting Organizations in International Economic Law In international economic law, standard-setting organizations includes the following legal areas, with coverage in this world legal encyclopedia: li> International Standards Organization (ISO) International Electrotechnical [...]...
93. Production Standard Resources See Also Contract Contracting Novation Contract Dispute...
94. Standard Performance Resources See Also Contract Contracting Novation Contract Dispute...
95. Standard International Trade Classification A system for capture of international trade statistics developed under the auspices of the United Nations. The original SITC was adopted by the Economic and Social Council of the United Nations in July 1950. By 1960 many nations were compiling data on a commodity basis; coincidental with the [...]...
96. Standard Metropolitan Statistical Area Introduction to Standard Metropolitan Statistical AreaStandard Metropolitan Statistical Area (SMSA), term previously used in U.S. government statistical compilations. It referred to a county or group of adjoining counties (except in New England) that contained at least one urbanized area of......
97. Standard Oil Company Tankers Case Embracing mainstream international law, this section on standard oil company tankers case explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "standard oil company tankers case" in the Parry and Grant Encyclopaedic [...]...
98. International Standard Classification of Occupations Resources See Also Worker Employee Benefits Employ Employment White Collar Worker Blue Collar Worker Labor Right Employee...
99. Certified Information Systems Security Professional Standard Overview of Certified Information Systems Security Professional Standard in relation to cyber crime: [1]There are currently three major concentrations in the CISSP standard, which are the following: (1) Information Systems Security Architecture Professional (ISSAP), (2) Information Systems [...]...
100. Exchange ContentsExchangeExchange DefinitionOrganizationHistoryCommodities and Futures ExchangesRegulation Exchange Exchange Definition Exchange, in commerce, generally, may be defined as a central office or ... Read more...
101. 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 [...]...
102. Dollar Exchange A draft or bill of exchange, wherever drawn, payable in U.S. dollars.......
103. 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.......
104. Letter Of Exchange An infrequently used synonym for bill of exchange (read here for further details).......
105. 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.......
106. Sole Of Exchange Bill of Exchange is considered here.......
107. Bills of Exchange The Legal History of Bills of Exchange in English Common Law This section provides an overview of Bills of Exchange in English Common Law Bills of Exchange, Drafts, Checks, and Trade Acceptances in relation with Negotiable Instruments This content deals with legal and regulatory aspects of [...]...
108. Exchange of Notes Exchange of Letters/Notes and the Treaties of the European Union Description of Exchange of Letters/Notes provided by the European Union Commission: States may express their consent to be bound by an "exchange of letters/notes". The basic characteristic of this procedure is that the [...]...
109. Exchange Rates Multiple Exchange Rates (also known as Differential Exchange Rates) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Multiple Exchange Rates (also known as Differential Exchange Rates): [...]...
110. Exchange Controls Exchange Controls and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Exchange Controls: The rationing of foreign currencies and other instruments for settling international financial [...]...
111. 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 [...]...
112. 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. [...]...
113. Exchange Risk Exchange Risk in International Trade Meaning of Exchange Risk, according to the Dictionary of International Trade (Global Negotiator): The possibility of receiving less or paying more money because a receivable or a payable is denominated in a foreign currency. Countries with shortages of [...]...
114. 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 [...]...
115. 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....
116. Stock Exchange Law ContentsStock Exchange LawStock Exchange LawMain Objectives and Key LegislationExchange OrganizationExchange Trading Stock Exchange Law Stock Exchange Law Stock exchange law ... Read more...
117. Student Exchange Resources See Also Education Policy Training Policy...
118. Stock Exchange Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...
119. Information Exchange Resources See Also Library Law Library Legal Deposit Public Law Library Information Science Research Investigation Legal Research Study...
120. Bilateral Exchange Rates The European Monetary System is considered here.......