LAWIN

Search results for: “transaction value”

  • Normal Price

    Within the scope of the Brussels Definition Of Value (read this and related legal terms for further details), the value basis upon which ad valorem duties will be assessed on imports. The normal price is the price the go…

  • Freely Offered

    Goods offered in the normal course of trade to all buying on essentially the same basis, e.g., with like prices, terms, discounts, et cetera. Under prior valuation schemes, the value at which the goods were "freely offered" served as the basis for the assessment of customs duties; this con…

  • Constructed Price

    A value for customs purposes that ignores the invoice price of the merchandise but is derived by computing the cost inputs of the product (materials plus reasonable manufacturing expenses in the country of origin plus a profit factor), to which are added the normal costs associated with preparing th…

  • American Selling Price

    A method formerly employed in the United States to establish the value for duty of a limited number of imported products. Under the ASP scheme, an imported product's value for duty was based upon the selling price of like products manufactured in the United States, irrespective of the price the …

  • International Trade

    International Political Economy Trends: International Trade Introduction to International Trade In the 21st century, international trade has grown to 20 percent of the world's total production of goods and services-around $6.5 trillion per year. This volume of trade is almost seven times […]

  • International Trade

    International Political Economy Trends: International Trade Introduction to International Trade In the 21st century, international trade has grown to 20 percent of the world's total production of goods and services-around $6.5 trillion per year. This volume of trade is almost seven times […]

  • Invisible Trade Balance

    Hierarchical Display of Invisible trade balance European Union > European construction > EU relations > Balance of payments Invisible trade balance Concept of Invisible trade balance See the dictionary definition of Invisible trade balance. Characteristics of Invisible trade balance [rtbs […]

  • Money

    Any unit or instrument generally accepted as having value to effect the purchase of goods or services, or to settle debts. All money enjoys three characteristics: (1) it is a unit of account in which values can be measured; (2) it is a medium of exchange; and (3) it is a store of value (i.e.,…

  • Money

    Any unit or instrument generally accepted as having value to effect the purchase of goods or services, or to settle debts. All money enjoys three characteristics: (1) it is a unit of account in which values can be measured; (2) it is a medium of exchange; and (3) it is a store of value (i.e.,…

  • Special Drawing Rights

    Summary of Special Drawing Rights An artificial currency unit created by the international monetary Fund (read this and related legal terms for further details), or IMF, to argument international reserves. The expansion of world trade following World War II necessitated an expansion in […]

  • Trade Balance

    J-Curve and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of J-Curve: The expected adjustment path in a country's trade balance following a currency depreciation or devaluation. Because a change in the […]

  • Trade Policy

    Diplomacy and International Trade (London, 1994) "Today, the generally accepted view (at least on the part of most states) is that trade, and particularly free trade, is good, notwithstanding the conflicts (and bouts of protectionism) that arise between individual states and between […]

  • Virtual Currency

    Virtual currency is a digital representation of value that can be traded on the Internet and functions as: a medium of exchange; a unit of account; and/or a store of value, but does not have legal tender status in any jurisdiction. Virtual currency is distinguished from fiat […]

  • Evidence

    Introduction to Evidence Evidence, the means by which disputed facts are proved to be true or untrue in any trial before a court of law or an agency that functions like a court. Because American law is committed to a rational rather than a formalistic system of evidence, no value is assigned […]

  • Evidence

    Introduction to Evidence Evidence, the means by which disputed facts are proved to be true or untrue in any trial before a court of law or an agency that functions like a court. Because American law is committed to a rational rather than a formalistic system of evidence, no value is assigned […]