Related Entries of the International Encyclopedia:

1. Shipment Received For Shipment B/L in International Trade Meaning of Received For Shipment B/L, according to the Dictionary of International Trade (Global Negotiator): A bill of lading which confirms the receipt of goods by the carrier, but not their actual loading on board. This document can be [...]...
2. Ocean Bill of Lading Ocean Bill of Lading in International Trade Meaning of Ocean Bill of Lading, according to the Dictionary of International Trade (Global Negotiator): A receipt for the cargo and a contract for transportation between a shipper and the ocean carrier. It may also be used as instrument of ownership [...]...
3. Marine Bill of Lading Marine Bill of Lading in International Trade Meaning of Marine Bill of Lading (B/L), according to the Dictionary of International Trade (Global Negotiator): A receipt for the cargo and a contract for transportation between a shipper and the ocean carrier. It may also be used as instrument of [...]...
4. Mate's Receipt A document issued by a ship's officer acknowledging receipt of a specific quantity of cargo. A mate's receipt is usually issued only in conjunction with a vessel charter.......
5. On Deck Bill Of Lading An ocean BILL of Lading (read this and related legal terms for further details) bearing the specific endorsement "on deck," "on deck at shipper's risk," or words of like import. Such bills of ladi......
6. 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 [...]...
7. 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 [...]...
8. Special Cargo Policy A marine cargo policy issued to cover a specific shipment. A special policy may be issued when the shipper infrequently transports goods by water, or when the merchandise is so unusual or so valuable as to warrant a special policy. Frequent shippers customarily obtain an Open Policy (...
9. Negotiation Summary of Negotiation The act whereby title to, and rights in, a negotiable instrument are transferred from one party to another. Instruments payable to "bearer"or endorsed in blank are negotiated by mere delivery; instruments payable "to order"of a specific party are [...]...
10. Feeder Vessel A small vessel or barge that carries goods from a principal port to outlying ports not served directly by the mother ship.......
11. Manifest A document listing all the cargo stowed aboard a vessel, usually broken down by port of unloading. The manifest is an abstract of the individual bills of lading issued for each consignment and is customarily provided to customs authorities for inspection upon landing.......
12. 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 [...]...
13. Merchant's Credit Merchant's Credit in International Trade Meaning of Merchant's Credit, according to the Dictionary of International Trade (Global Negotiator): A letter of credit issued by the buyer himself. Contains no commitment whatever on the part of a bank. See letter of credit....
14. House Airway Bill House Airway Bill (Hawb) in International Trade Meaning of House Airway Bill (hawb), according to the Dictionary of International Trade (Global Negotiator): A bill of lading issued by a freight forwarder for consolidated air freights shipments. In documentary letter of credit transactions [...]...
15. Liner Terms A provision in some ship charter contracts in which the vessel pays loading or discharging costs, or both.......
16. 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 [...]...
17. Usance Credit Also known as a time credit, a Letter of Credit (q. v.) that provides that the drafts drawn under the credit will mature thirty, sixty, or more days, up to nine months, after sight or date. A letter of credit providing for settlement more than nine months from shipment of the goods is normally in t......
18. Back to Back Back to Back Letter of Credit in International Trade Meaning of Back to Back Letter of Credit, according to the Dictionary of International Trade (Global Negotiator): A new letter of credit opened in favour of another beneficiary on the basis of an already existing one, not a transferable [...]...
19. Expiration Date Expiration Date in International Trade Meaning of Expiration Date, according to the Dictionary of International Trade (Global Negotiator): In a letter of credit transaction, the final date the seller (beneficiary of the credit) may present documents and draw a draft under the terms of the [...]...
20. Negotiating Bank Negotiating Bank in International Trade Meaning of Negotiating Bank, according to the Dictionary of International Trade (Global Negotiator): In a letter of credit transaction, the bank that: receives and examines the seller's documents for adherence to the terms and conditions of the [...]...
21. Transshipment The act of passing cargo from one carrier to another to continue the journey in those cases where the first carrier does not go from origin of a shipment to destination.......
22. Clean on Board Bill of Lading Clean on Board Bill of Lading in International Trade Meaning of Clean on Board Bill of Lading, according to the Dictionary of International Trade (Global Negotiator): A document evidencing cargo laden aboard a vessel with no exceptions as to cargo condition or quantity. See bill of lading....
23. Consignor The person or firm shown as shipper on the BILL OF LADING (read this and related legal terms for further details).......
24. Accommodation Bill Of Lading A bill of lading issued by a carrier or its agent to a shipper in advance of actual receipt of the goods for carriage. The motives for such action may be to permit the shipper to draw on an expiring letter of credit, or to book a sale during a particular accounting period. The carrier is responsible......
25. Wharfage A charge imposed by a pier operator for receiving, handling, and transferring cargo to or from a vessel. Customarily, these charges are absorbed by the vessel. ......
26. Discrepancies Discrepancies in International Trade Meaning of Discrepancies, according to the Dictionary of International Trade (Global Negotiator): In the context of letters of credit, discrepancies arises when documents presented under a letter of credit do not conform to the terms of the credit; [...]...
27. Validity Validity in International Trade Meaning of Validity, according to the Dictionary of International Trade (Global Negotiator): The time period for which a letter of credit is valid. After receiving notice of a letter of opened in his behalf, the seller/exporter/beneficiary must meet all the [...]...
28. 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....
29. General Cargo Vessels General Cargo Vessels in International Trade Meaning of General Cargo Vessels, according to the Dictionary of International Trade (Global Negotiator): A vessel designed to handle breakbulk cargo such as bags, cartons, cases, crates and drums, either individually or in unitized or palletized [...]...
30. Payment Terms Payment Terms in International Trade Meaning of Payment Terms, according to the Dictionary of International Trade (Global Negotiator): That part of a contract that defines when, where, to whom and in what currency the underlying obligation is to be discharged. The exporter will consider the [...]...
31. Confirming Bank Confirming Bank in International Trade Meaning of Confirming Bank, according to the Dictionary of International Trade (Global Negotiator): In a letter of credit transaction, the bank that assumes responsibility to the seller (usually the exporter) for payment from the issuing bank (buyer's [...]...
32. Inducement In maritime shipping, the tender by a shipper to a carrier of a sufficient amount of cargo so as to warrant a vessel calling at a port not ordinarily scheduled during the voyage.......
33. Multimodal Transport Document Multimodal Transport Document in International Trade Meaning of Multimodal Transport Document, according to the Dictionary of International Trade (Global Negotiator): A document issued or signed by a carrier indicating carriage by more than one means of transportation. For example, a [...]...
34. Clean Report of Findings A document issued by a recognized inspection agency certifying that certain merchandise has been examined and found to be in order. This document may be required by a letter of credit or stipulated by the exchange control authorities of certain governments. The object of the report is to ensure [...]...
35. Bill Of Credit A document requesting or directing the addressee to extend credit to a party stipulated in the letter. The person issuing the letter serves as a guarantor for any credit so extended.......
36. Wharf A structure, built upon piles, against which a vessel may dock and discharge cargo.......
37. Documentary Credit Documentary Credit in International Trade Meaning of Documentary Credit, according to the Dictionary of International Trade (Global Negotiator): Documentary credit means the same thing than "letter of credit". Traders and bankers in some parts of the world (US, Asia) tend to use the [...]...
38. Dry Port Dry Port in International Trade Meaning of Dry Port, according to the Dictionary of International Trade (Global Negotiator): A dry port is a port situated near sea. If the importer or exporter is far away from a sea port, it will be an inconvenience to co-ordinate and handle the goods [...]...
39. Rollover Credit Rollover Credit in International Trade Meaning of Rollover Credit, according to the Dictionary of International Trade (Global Negotiator): Any line of credit that can be borrowed against up to a stated credit limit and into which repayments go for crediting. See letter of credit....
40. Deck Cargo Deck Cargo in International Trade Meaning of Deck Cargo, according to the Dictionary of International Trade (Global Negotiator): Goods shipped on the deck of a ship rather than in its holds. Since deck cargo is more exposed to the elements, traders may wish to stipulate that goods not be [...]...
41. Combined Transport Document A bill of lading issued by a combined transport operator (read this and related legal terms for further details) covering shipment of goods by more than one mode of transport. The document specifies the point at which th......
42. 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 [...]...
43. Through Bill of Lading Through Bill of Lading in International Trade Meaning of Through Bill of Lading, according to the Dictionary of International Trade (Global Negotiator): A single bill of lading covering receipt of the cargo at the point of origin for delivery to the ultimate consignee, using two or more modes [...]...
44. Trade Finance Trade Finance in International Trade Meaning of Trade Finance, according to the Dictionary of International Trade (Global Negotiator): This is the way in which an exporter requires an importer to prepay for goods ship. The importer wants to reduce risks by asking the exporter to document that [...]...
45. Tramp Vessel Tramp Vessel in International Trade Meaning of Tramp Vessel, according to the Dictionary of International Trade (Global Negotiator): A vessel which does not operate under any regular schedule from one port to another, but calls any port where cargo may be obtained. To be distinguished from [...]...
46. Gross Terms Synonymous with Gross Charter (read this and related legal terms for further details).......
47. On Board Bill Of Lading An ocean bill of LADING (read this and related legal terms for further details) bearing the carrier's endorsement "on board" or words of like import stipulating that the cargo covered by the bill of lading ......
48. Net Terms Net Terms in International Trade Meaning of Net Terms, according to the Dictionary of International Trade (Global Negotiator): Vessel chartering terms under which the vessel owner is not responsible for the cost of loading, stowing, trimming and unloading the vessel. See also FIO and FIOST....
49. 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 [...]...
50. 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....
51. Dock The space in the water at which a ship comes to rest. A dock is not a PIER or wharf (qq.v.), each of which has its own specific meaning. It would be appropriate, however, to say that a vessel docked at a pier. Also, used as a verb, to dock means to reduce the price of a product or commodity [...]...
52. On Deck Cargo Cargo, normally of a hazardous nature, that is stowed on the deck of the vessel for easy discharge overboard in the event of fire or other danger. The bill of lading for cargo stowed on deck for reasons of safety will bear a special "on deck" notation which conveys that the goods are carri......
53. Flag Carrier Flag Carrier in International Trade Meaning of Flag Carrier, according to the Dictionary of International Trade (Global Negotiator): A vessel registered under the flag of a particular country. Some counties support their merchant marine industry by limiting certain types of cargo to vessel [...]...
54. Issuance Issuance in International Trade Meaning of Issuance, according to the Dictionary of International Trade (Global Negotiator): The establishment of a letter of credit by the issuing bank (buyer's bank) based on the buyer's application and credit relationship with the bank. See letter of [...]...
55. Certificate of Manufacture A document issued by a manufacturer attesting that the named item has been manufactured and is available for shipment. This document is used commonly with sales under letters of credit providing for full or partial payment upon manufacture of the goods. In 1942 the Bankers' Association for [...]...
56. Datafreight Receipt A document issued by some steamship operators in lieu of a bill of LADING (read this and related legal terms for further details) on straight consignment shipments. Rather than issue a formal bill of lading, the carrier ......
57. Himilaya Clause A provision in an ocean bill of lading that extends to stevedores or other employees of a carrier the carrier defenses against claims for loss and damage of cargo provided in the carriage of goods by sea act (read this and r......
58. Optional Bill Of Lading An ocean bill of Lading (read this and related legal terms for further details) that gives the carrier the prerogative of stowing the cargo anywhere aboard the vessel at his convenience; the effect is to permit cargoes s......
59. Seabridge A service offered by some ocean carriers whereby cargo moving between Europe and East Asia is taken by one vessel from the exporting country to a U.S. port for relay, from the same port, to destination. The goods move under a single through bill of lading. A seabridge movement is the effective equiv......
60. Certificate of Inspection Certificate of Inspection in International Trade Meaning of Certificate of Inspection, according to the Dictionary of International Trade (Global Negotiator): A document certifying that merchandise (such as perishable goods) was in good condition at the time of inspection, usually immediately [...]...
61. Gross Tonnage Gross Tonnage in International Trade Meaning of Gross Tonnage, according to the Dictionary of International Trade (Global Negotiator): The capacity of a vessel (no cargo) expressed in vessel tons. It is determined by dividing by 100 the contents, in cubic feet, of the vessel closed-in spaces. [...]...
62. Second Advising Bank Second Advising Bank in International Trade Meaning of Second Advising Bank, according to the Dictionary of International Trade (Global Negotiator): In a letter of credit transaction, the seller usually prefers that the incoming letters of credit be advised through its bank account. However, [...]...
63. Charter Party A maritime contract for the lease of all or part of a ship for a period of time or for a voyage or voyages. The expression is derived from the Latin carta partida, meaning "divided document," because the charter agreement was written twice on one sheet of paper, which was then cut or [...]...
64. 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 [...]...
65. Respondentia The pledge of cargo by a vessel's master as collateral for a loan to permit the ship to continue on its journey or to make arrangements to forward the goods. The bond so created gives the lender a Maritime Lien (read thi......
66. Time Charter The charter of a vessel for a specific period of time, during which the vessel will respond to operational direction from the charterer.......
67. Under Deck Bill Of Lading An ocean bill of Lading (read this and related legal terms for further details) bearing the specific notation that the goods have been stowed below deck. Under deck stowage has been traditionally regarded as safer than s......
68. Pre-advice Pre-advice in International Trade Meaning of Pre-advice, according to the Dictionary of International Trade (Global Negotiator): In letters of credit, at the request of an applicant, the issuing bank may give a pre-advice of issuance and/or amendment of the letter of credit. A pre-advice is [...]...
69. Drawing Drawing in E.U. Patent SystemOne or more specially-prepared figures filed as a part of a patent application to explain and describe the invention. Drawings (or illustrations, where appropriate) are more commonly found with inventions for mechanical or electrical devices. As a rule, chemical [...]...
70. Breakbulk Cargo Breakbulk Cargo in International Trade Meaning of Breakbulk Cargo, according to the Dictionary of International Trade (Global Negotiator): Non-containerized cargo that may be grouped or consolidated for shipment, and then is later broken down, subdivided, or distributed at a further [...]...
71. 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 [...]...
72. 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 [...]...
73. Letter of Credit A document issued by a commercial bank committing itself to honor drafts drawn in accordance with the terms of the credit. The party to whom the credit is issued is the beneficiary; the party on behalf of whom the bank issues the credit is the applicant. Letters of credit may be issued as [...]...
74. Letter Of Comfort A statement, usually in letter form, issued by a bank or other commercial entity attesting to the stature, credit worthiness, or reputation of another. The writer of the letter will, however, expressly disclaim any responsibility for the obligations of the subject party. Letters of comfort are comm......
75. Letter Of Conditional Reimbursement A commitment in writing by the U.S. Department of Agriculture to a nation qualified to receive U.S. agricultural aid under P.L. 480, but with which a formal aid agreement has not been signed. The letter guarantees that the U.S. government will reimburse the importer for payments made, in its local c......
76. Back Letter A letter of indemnity issued by a shipper of cargo to a steamship line to secure issuance of a clean bill of lading where one might not be issued otherwise. For example, a carrier may initially refuse to issue a clean bill of lading for cargo which appears to be damaged; a notation to this [...]...
77. Letter Of Exchange An infrequently used synonym for bill of exchange (read here for further details).......
78. Letter of Intent Real Estate meaning of Letter of IntentIn the words of the Encyclopedia of Real Estate Terms about Letter of Intent: A letter, note or memorandum setting out a clear intention to take a certain course of action or to enter into a formal agreement. In particular, a letter or other form of [...]...
79. Letter of Assignment Letter of Assignment in International Trade Meaning of Letter of Assignment, according to the Dictionary of International Trade (Global Negotiator): A document with which the assignor assigns rights to third party. See assignment....
80. Letter of Correction Letter of Correction in International Trade Meaning of Letter of Correction, according to the Dictionary of International Trade (Global Negotiator): A letter addressed to a consulate containing such data as needed to resolve any necessary corrections in consular documentation....
81. Letter of Instruction Shipper's Letter of Instruction (sli) in International Trade Meaning of Shipper's Letter of Instruction (sli), according to the Dictionary of International Trade (Global Negotiator): A form issued by a shipper to authorize a carrier to issue a bill of lading or an air waybill on the [...]...
82. Letter of Introduction Letter of Introduction (LOI) in International Trade Meaning of Letter of Introduction (LOI), according to the Dictionary of International Trade (Global Negotiator): A statement, often by a third party, in letter form, that briefly profiles a company with an eye toward doing business together. [...]...
83. Clean Letter of Credit Synonymous with CLEAN CREDIT.......
84. Irrevocable Letter of Credit See Letter of Credit.......
85. Transferable Letter of Credit A Letter Of Credit (read this and related legal terms for further details) that is transferable from the original beneficiary to a subsequent beneficiary. This type of credit is used when the original beneficiary is a br......
86. Unconfirmed Letter of Credit See Letter of Credit.......
87. Indemnity Introduction to Indemnity Indemnity, in law, an undertaking to compensate another for damage, loss, trouble, or expenses, or the money paid by way of such compensation-for example, under fire-insurance agreements. Under some laws, government officials are protected from paying indemnities and [...]...
88. Fixing Letter A summary of the agreement between a vessel owner and charterer pending signing of the actual charter party. This document is usually prepared by a joint effort of the owners and charterer's brokers.......
89. Letter Of Credit Clause A clause in a marine cargo insurance policy designed to protect an exporter until such time as he is paid under a letter of credit. An exporter selling on an F.O.B. or F.A.S. basis, for example, does not provide marine insurance; this obligation is undertaken by the importer. If the purchaser's ......
90. Protection And Indemnity Insurance carried by a vessel operator to respond to third- party liabilities, e.g., cargo loss and crew injury claims. It does not cover physical loss or damage to the ship itself, or loss of income.......
91. Indemnity Agreements Guaranty, Surety, and Indemnity Agreements regarding Banking Law This content deals with legal and regulatory aspects of Guaranty, Surety, and Indemnity Agreements covered in connexion with financial law and banking / lending Institutions. Indemnity Agreements in relation with Guaranty, [...]...
92. Letter From Assistant Secretary Posner and Ambassador Cook Letter to the Editor From Assistant Secretary Posner and Ambassador Cook In relation to the international law practice and Letter to the Editor From Assistant Secretary Posner and Ambassador Cook in this world legal Encyclopedia, please see the following section: International Human Rights [...]...
93. Information Letter A pronouncement by the headquarters of the U.S. Customs Service drawing attention to or illuminating already established interpretations of customs law, without addressing a particular set of facts.......
94. Collection Letter Collection Letter in International Trade Meaning of Collection Letter, according to the Dictionary of International Trade (Global Negotiator): A letter or form that conveys the drawer's instructions to the presenting bank. While there are many variations, collection letters identify the [...]...
95. Standby Letter of Credit A guarantee issued by a bank to a firm as security for the actions of a third party; in the event the third party does not perform specified acts (usually the payment of obligations) within a prescribed period, the beneficiary of the credit may unilaterally draw upon the letter of credit in [...]...
96. Confirmed Letter of Credit Confirmed Letter of Credit in International Trade Meaning of Confirmed Letter of Credit, according to the Dictionary of International Trade (Global Negotiator): A letter of credit that contains a guarantee on the part of both the issuing and de advising banks of payment to the seller so long [...]...
97. Restricted Letter Credit Restricted Letter Credit in International Trade Meaning of Restricted Letter Credit, according to the Dictionary of International Trade (Global Negotiator): A letter of credit, the negotiation of which is restricted to a bank specially mentioned in the letter. See letter of credit....
98. Revocable Letter of Credit Revocable L/C in International Trade Meaning of Revocable L/c, according to the Dictionary of International Trade (Global Negotiator): A letter of credit that can be cancelled or changed by any party at any time without the consent of any other parties. At present there are not revocable L/C; [...]...
99. Revolving Letter of Credit Revolving L/C in International Trade Meaning of Revolving L/c, according to the Dictionary of International Trade (Global Negotiator): A letter of credit which is automatically restored to its full amount after the completion of each documentary exchange....
100. Usance Letter of Credit Usance L/C in International Trade Meaning of Usance L/c, according to the Dictionary of International Trade (Global Negotiator): A letter of credit payable at a predetermined time after the presentation of conforming documents. These are also called time L/C or deferred payment L/C and are the [...]...
101. Act of Indemnity Description of Act of Indemnity Resources See Also Officers Public Employees...
102. Deferred Payment Letter of Credit Deferred Payment Letter of Credit in International Trade Meaning of Deferred Payment Letter of Credit, according to the Dictionary of International Trade (Global Negotiator): A letter of credit that is not payable at sight but at a future time....
103. Back-To-Back Letter Of Credit A letter of credit raised to purchase goods that will be sold under a different letter of credit. A broker or other intermediary who is the beneficiary under a customer's letter of credit may use that credit as collateral to open a second letter of credit to actually purchase the goods it plans ......
104. Russian Indemnity Case Embracing mainstream international law, this section on russian indemnity case explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "russian indemnity case" in the Parry and Grant Encyclopaedic Dictionary of International [...]...
105. Comfort Letter Comfort Letter in International Trade Meaning of Comfort Letter, according to the Dictionary of International Trade (Global Negotiator): A letter from an independent auditor included in a preliminary prospectus stating that, while a full audit has not been undertaken, the auditor has done [...]...
106. Anonymous Letter Anonymous Letter, Clergyman From the book The Clergyman's Hand-book of Law, about Anonymous Letter, Clergyman (1): Where a priest received an anonymous letter alleged to have been written by a defendant, which he read to her, he was not disqualified from testifying that she was excited [...]...
107. Tate Letter Embracing mainstream international law, this section on tate letter explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "tate letter" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the [...]...
108. Acceptance Letter of Credit Definition of Acceptance Letter of Credit in International Trade The following is a concept of Acceptance Letter of Credit in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A letter of credit, which requires, amongst the documents [...]...
109. Cease-and-Desist Letter Cease-and-Desist Letter to Domain Name and the Electronic Commerce Cease-and-Desist Letter to Domain Name in the Online Business Law Resources See Also PPC Advertising Social Networking Online Business Law Internet Law Spam Startups Internet Tax Crossborder Commerce Technology Law Terms [...]...
110. Evergreen Letter of Credit Evergreen Letter of Credit in International Trade Meaning of Evergreen Letter of Credit, according to the Dictionary of International Trade (Global Negotiator): A letter of credit that automatically renews itself beyond its stated expiration....
111. Open Letter of Credit Resources See Also Letter of credit...
112. Circular Letter of Credit Resources See Also Letter of credit...
113. Sample letter: Request for bank statement Contents Sample letter: Request for bank statement To, The Bank Manager Name of bank Address of branch Date Dear Sir, ... Read more...
114. Advised Letter of Credit Definition of Advised Letter of Credit L/c in International Trade The following is a concept of Advised Letter of Credit L/c in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A letter of credit whose terms and conditions have been [...]...
115. Commercial Letter of Credit Resources See Also Letter of credit...
116. Less Than Container Load A quantity of product less than that which fills a container. In some ocean tariffs, certain minimum utilizations of space are required; if this minimum is not filled, the shipper will be billed for the space not used, up to the minimum required utilization, usually at the rate applied to the [...]...
117. Lex Mercatoria History The ancient Lex Mercatoria, the Law Merchant of the Middle Ages, was first described by an anonymous author in the late thirteenth century as part of "Colford's Collection"in the "Little Red Book of Bristol"and later [...]...
118. Lead Manager An international bank that organizes other banks into a syndicate for the purpose of funding a major financial project, often extending to hundreds of millions or even billions of dollars.......
119. Least Developed Countries Summary of Least Developed Countries Those nations suffering the most severe economic and development problems, and requiring substantial and ongoing economic assistance. As a general rule, they are nations with a literacy rate of less than 20 percent and per capita income below two hundred [...]...
120. Legal Tender A medium of exchange issued by a lawful authority that may be used to satisfy public and private obligations.......