Related Entries of the International Encyclopedia:

1. Current Account Purchases The value of intermediate products in the national production process. An intermediate product is a manufacturing input that has not been converted into a finished product; for example, steel is an intermediate product in the manufacture of an automobile. The value of current account purchases is im......
2. Nonprivileged Foreign Status The condition of imported merchandise entered into a Foreign Trade Zone (read this and related legal terms for further details), other than goods that have been granted privileged foreign status (...
3. Offshore Finance Company Synonymous with Foreign Base Finance Company (read this and related legal terms for further details).......
4. Product Cycle Product Cycle and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Product Cycle: The evolution of a production process from innovation through obsolescence, constituting a fundamental dynamic element in [...]...
5. Green Clause A provision in a letter OF CREDIT (read this and related legal terms for further details) similar to a RED CLAUSE (read this and related legal t......
6. Articles Of Mixed Status Merchandise manufactured within a foreign trade zone (read this and related legal terms for further details) of components of more than one status. The status of merchandise is the product of several factors. An item in ......
7. Foreign Trade Antitrust Improvements Act A 1982 act of Congress, constituting Title IV of the export trading company act (read this and related legal terms for further details), which amends the Sherman Act and Federal Trade Commission Act to clarify their inap......
8. Turning Point A change in the economy marking transition into the next phase in the Business Cycle (read this and related legal terms for further details).......
9. Intermediate Goods Synonymous with Intermediate Products (read this and related legal terms for further details).......
10. National Flag Carrier A common car RIER (read this and related legal terms for further details)-usually a steamship line or an airline- that bears its country's flag and is viewed in the trading community as representing the commercial in......
11. Nonprivileged Domestic Status The condition of merchandise of U.S. origin entered into a foreign trade zone (read this and related legal terms for further details), other than goods that have been granted privileged domestic STATUS (...
12. Visby Amendment A proposed revision to the Hague Agreement (read this and related legal terms for further details) of 1924 on the liability of ocean carriers for loss and damage to cargo. The Visby Amendment does not contemplate materia......
13. Zone Restricted Status A condition accorded to goods entered into a Foreign Trade Zone (read this and related legal terms for further details) solely for destruction or exportation to another country. These goods may not be manipulated or proc......
14. Fair Market Value The value an imported product would fetch, under similar circumstances of sale, were the goods sold in the country of origin. Customs authorities are usually interested in the fair market value of imported merchandise inasmuch as sales below such value may serve as the basis of a Dumping (...
15. Hague Agreement The product of a 1924 conference on ocean carrier liability sponsored by the International Chamber of Commerce. The agreement embraced various defenses to carrier liability for loss or damage to cargo and established a limitation of liability at one hundred pounds sterling (approximately five hundre......
16. Transaction Value Of Similar Goods Sold An alternative method of valuing goods for customs purposes under the Customs Valuation Agreement (read this and related legal terms for further details).......
17. 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 (...
18. 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......
19. Full And Down The condition of a vessel that is down to marks, i.e., loaded up to the maximum LOAD-LINE (read this and related legal terms for further details) capacity as well as having all cargo- carrying space fully occupied.......
20. Notional Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the price the goods "ought to fetch" under specified conditions; this view was widely held for many years and was embraced in the Brussels Definition Of Value (...
21. 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......
22. Safeguard Measures Actions taken by a nation to protect its domestic industry and commerce from what it views as unfair or improper practices by a trading partner. For example, a trading partner's use of improper subsidies designed to artificially stimulate exports might result in such safeguard measures as the im......
23. 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 (...
24. Berth No Berth A stipulation that may be included in a vessel charter party (read this and related legal terms for further details) providing that if the point of loading or discharge is a berth, and if the berth is not immediately ava......
25. Coastwise Option A provision of the carriage OF GOODS BY SEA ACT (read this and related legal terms for further details) (COGSA) which permits COGSA to be incorporated into bills of lading covering shipments in the domestic maritime comm......
26. Consignor The person or firm shown as shipper on the BILL OF LADING (read this and related legal terms for further details).......
27. Ordinary Course Of Trade A concept routinely applied in customs valuation that holds that the dutiable value of goods is the price at which they would normally sell if customary channels of distribution were observed. For example, where it was industry practice for a product to be sold directly by a manufacturer to an end u......
28. 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......
29. Less Than Fair Value An export sale price below that charged on like sales in the country of origin. Such sales are usually regarded as dumping (read this and related legal terms for further details), which may result in the imposition by th......
30. Letter of Indemnity A document issued by a shipper of merchandise to a steamship line as an inducement for the carrier to issue a clean bill of Lading (read this and related legal terms for further details) where it might not otherwise do s......
31. Counterpurchase A form of countertrade (read this and related legal terms for further details) in which two parties agree to purchase specified quantities of merchandise from each other at a fixed price. The effect is that each party si......
32. Country of Origin For customs tariff purposes, the country in which an imported product was manufactured, grown, or produced. When goods pass through more than one country in the process of manufacture, the country of origin does not change unless the product has been transformed substantially; minor [...]...
33. Straight Consignment Goods conveyed under a straight, i.e., nonnegotiable, Bill of lading (read this and related legal terms for further details).......
34. Collective Reserve Unit An artificial currency unit proposed in 1965 by Valéry Giscard d'Estaing of France. The cru, as it was known, was to have been linked to gold to create international reserves. The GROUP OF ten (read this and relat......
35. Real Property Holding Company A foreign corporation (i.e., not chartered in the United States) in which a Domestic International Sales Corporation (read this and related legal terms for further details), or DISC, controls more than 50 percent of the ......
36. Privileged Domestic Status A condition that may be accorded to merchandise of U.S. origin, or to imported merchandise upon which duties have been paid, that is entered into a foreign Trade Zone (read this and related legal terms for further details...
37. Quota-Class Merchandise Goods subject to Quota (read this and related legal terms for further details) restrictions.......
38. Tramp A vessel that offers nonscheduled service between such ports as afford cargoes of opportunity. Unlike a Liner (read this and related legal terms for further details), a tramp seeks to acquire a full load from one shipper......
39. Swapping A form of countertrade (read this and related legal terms for further details) by which the parties trade off goods that each controls at various locations so as to eliminate or mitigate transportation costs.......
40. Switching Also known as switch trading, a Countertrade (read this and related legal terms for further details) arrangement under which a purchaser in one country assigns to a seller in another country an obligation due from a thir......
41. 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......
42. Deductive Value Method An alternative method of valuing goods for customs purposes under the Customs Valuation code (read this and related legal terms for further details).......
43. 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......
44. International Reserves Gold, hard currencies, and special drawing rights (read this and related legal terms for further details) issued by the international monetary fund (...
45. 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 ......
46. Subpart F A provision of the Internal Revenue Code (Sections 951-64) that imposes U.S. income taxes on the undistributed earnings of "controlled foreign corporations." Subpart F was incorporated into the Code by the Revenue Act of 1962; prior to that time, earnings by foreign subsidiaries of U.S. fi......
47. Tariff (Customs) A document issued by a nation's customs authority principally for the purpose of specifying rates of duty to be applied on various imported products. A tariff customarily also includes quantitative restrictions (quotas) upon certain imports, preferential duties on products imported from specifie......
48. Transaction Value Of Identical Merchandise An alternative method of valuing goods for customs purposes under the CustomsValuation Agreement (read this and related legal terms for further details).......
49. Clause Paramount A provision in an ocean bill of lading that incorporates by reference laws or international agreements into the bill. The term is most commonly used with reference to the enacting clause of the CARRIAGE OF GOODS BY SEA ACT (......
50. Manufactured Or Processed In deter mining drawback (read this and related legal terms for further details) eligibility, an article must have been manufactured or processed in the United States; a simple change is not enough to permit recovery in......
51. Domestication The process whereby foreign investors are forced, by governmental sanction, to relinquish their control or interest in local enterprises to local nationals. The term can be applied to an Expropriation (read this and related ......
52. Nairobi Treaty On The Protection Of The Olympic Symbol An international agreement to protect the Olympic symbol against commercial use without the approval of the International Olympic Committee (IOC). The treaty specifies that adhering states will prohibit use of the Olympic symbol on goods or advertising or as a trademark except under license from th......
53. Port Dues Synonymous with harbor dues (read this and related legal terms for further details).......
54. Section 204 A provision of the Agricultural Act of 1956 authorizing the president to negotiate bilateral agreements to limit exports to the United States of "any agricultural commodity or product manufactured therefrom or textiles or textile products." The president is also empowered to take steps to ......
55. Trade Act Of 1974 An act that provided the president the negotiating authority essential to participate in the Tokyo Round (read this and related legal terms for further details) of tariff reductions. The act empowered the president to re......
56. Yugen Kaisha A form of limited company organization used in Japan for small or family-con- trolled corporations. This form, usually identified by the letters YK, resembles the American dosed corporation and usually includes restrictions on the transfer of stock. A large or public company is usually organized as ......
57. Gross Terms Synonymous with Gross Charter (read this and related legal terms for further details).......
58. 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......
59. Sterling Balances The official reserves of a national monetary authority held in pounds sterling, both in sterling AREA (read this and related legal terms for further details) countries and in others.......
60. United States Value A basis for assessing duties predicated upon the wholesale price of the imported product (or a like domestic product if the value of the imported product cannot be ascertained), less normal markups, transportation costs, insurance, and duties. This method of valuation has been supplanted by the cust......
61. 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......
62. Consignee The person or firm to whom goods are shipped under a bill of lading (read this and related legal terms for further details) and so named in the bill.......
63. 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 [...]...
64. General Agreements To Borrow An arrangement among the GROUP OF TEN (read this and related legal terms for further details) nations to provide supplemental financing to the International Monetary Fund (...
65. Manufacturer's Particulars Details of the construction of an intermodal container, as specified in the container's DATA PLATE (read this and related legal terms for further details).......
66. Reconstitution A regulation of the International Monetary Fund (read this and related legal terms for further details) relating to the use of Special Drawing Rights (...
67. Fire Statute An act of Congress (46 USCA Sec. 182) passed in 1851 to relieve carriers of obligations to shippers for fire losses aboard ship, "unless such fire is caused by the design or neglect of the owner"; this provision has been effectively supplanted by Section 4(2)(b) of the carriage of GOODS BY......
68. 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......
69. Ab Quai Synonymous with AB KAI (read this and related legal terms for further details).......
70. Cooley Loans Foreign-currency-denominated loans by the U.S. government to foreign nations to permit the purchase of American agricultural commodities. The loans are authorized by an amendment to the Agricultural Trade Development and Assistance Act (...
71. Net Register Ton Synonymous with net ton (read this and related legal terms for further details).......
72. Reciprocal Trade Agreements Program An act of Congress which authorized the president to reduce tariffs in exchange for like concessions by trading partners. The Reciprocal Trade Agreements Act of 1934, enacted as an amendment to the Smoot-Hawley Act (read thi......
73. 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 ......
74. 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......
75. Madrid Agreement For The Repression Of False Or Deceptive Indications Of Source On Goods An international agreement, commonly known as the Madrid Union, concluded for the purpose of suppressing false or misleading origin markings on goods sold in international commerce. Adhering states are obligated to seize and deny importation to merchandise bearing false markings indicating origin in......
76. Net Capacity Synonymous with deadweight Tonnage (read this and related legal terms for further details).......
77. Quayage Synonymous with Quay Dues (read this and related legal terms for further details).......
78. Sale At Less Than Fair Value The sale of merchandise to a foreign purchaser at a price below the price that would be charged for a like sale in the home market. Such sales may serve as the basis for an allegation of Dumping (read this and related legal ......
79. Warrant A warehouse receipt (read this and related legal terms for further details) containing Trust Receipt ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for furt......
80. Primary Product Any agricultural, forest, or fishery product or any mineral sold in its original form, including such processing as may be required to make the product suitable for sale in international commerce.......
81. Product Structure A technique of international marketing employed by some manufacturing firms. The firm is organized into product groups responsible for all marketing, profit and loss, and production of the product worldwide. Each product group reports directly to corporate headquarters, which provides financial, leg......
82. Trade Cycle The British equivalent term for the U.S. term business cycle (read this and related legal terms for further details).......
83. Product International Product Life Cycle (IPLC) in International Trade Meaning of International Product Life Cycle (IPLC), according to the Dictionary of International Trade (Global Negotiator): This marketing describes the diffusion process of an innovation across national boundaries. Typically, [...]...
84. Differentiated Product A product sold in a modified form in different countries with the object of accommodating perceived variations in taste or responding to differing local requirements.......
85. Net National Product Summary of Net National Product The sum total, expressed in monetary terms, of all goods and services produced in a country during a given period (usually one year), less the value of capital consumed (depreciation).(Main Author: William J. Miller) Resources See Also Gross [...]...
86. Standardized Product A product marketed worldwide without substantial variation in the product's composition or appearance. Product standardization helps in achieving significant economies of scale. See differentiated product.......
87. Product Classification In the United States For information about Product classification in the context of international trade, click here...
88. Product Valuation In the United States For information about Product valuation in the context of international trade, click here...
89. Product Liability Product Liability Explained References See Also Tort (in international or comparative law) Product Liability (in international or comparative law) References See Also Tort Product Liability Resources See Also Tort Product Liability...
90. Product Labelling Resources See Also Business Company Corporation Enterprise...
91. Belt Line A short-line railway operating in and around a city; its function is to transfer cargo between long-haul railroads, and to and from piers to railroads for import/export movements.......
92. Gross Domestic Product Summary of Gross Domestic Product The aggregate value, expressed in monetary terms, of all goods and services produced within a national economy during a given time period, usually one year.(Main Author: William J. Miller) Gross Domestic Product (gdp) (in the Human Development [...]...
93. Gross National Product Summary of Gross National Product The aggregate value, expressed in monetary terms, of all goods and services attributable to a national economy during a given period, usually one year. The final sum includes all goods and services produced within the economy, plus income earned overseas [...]...
94. Line Breadth The number of products or variations carried in a manufacturer's or marketer's product line.......
95. Member Line A steamship line that is a member of a Conference (read this legal term for further details).......
96. National Line Synonymous with national FLAG CARRIER (read this and related legal terms for further details).......
97. Additional Product Aid A feature of the Common Agricultural Policy of the European Economic Community, which provides price supports to EEC producers affected by import competition. The "community preference" mechanism of the CAP eliminates external competition for most items but does not respond for certain pro......
98. Clean Product Carrier A tank vessel that transports only refined petroleum products, such as gasoline or kerosene, as contrasted with a ship which carries crude petroleum.......
99. Load-Line A marking painted on the bow of merchant vessels, denoting how much cargo may be loaded aboard, as determined by how low in the water the ship may ride. The object of the mark is to prevent the overloading of a ship, with attendant risk to its safety. The load-line marks are sometimes known as the P......
100. Cycle Electoral Cycle in Election Law Refers to the different stages of the electoral process and can be represented as a visual planning and training tool designed to help development agencies, electoral assistance providers and electoral officials in partner countries to understand the cyclical [...]...
101. Intelligence Cycle Literature Review on Intelligence Cycle In the Encyclopedia of Public Administration and Public Policy, [1] David M. Keithly offers the following summary about the topic of Intelligence Cycle: The intelligence community has developed a process described by the term "intelligence [...]...
102. Business Cycle Resources See Also International Economic Law Economy Foreign Direct Investment Economic Law...
103. Life Cycle Costing Literature Review on Life Cycle Costing In the Encyclopedia of Public Administration and Public Policy, [1] Greg Chen, Daniel W. Williams and Troels Pind Adrian provide the following summary about the topic of Life Cycle Costing: This entry introduces the Life Cycle Costing (LCC) concept [...]...
104. Net Line The face value of all insurance policies that an insurer has in force, less any amounts reinsured.......
105. Direct Product Resources See Also Further Reading Information about Direct Product in the Encyclopedia of World Trade: from Ancient Times to the Present (Cynthia Clark Northrup) ...
106. Above-the-line Description of Above-the-line Resources See Also Below-The-Line Internal Revenue...
107. Consumer Product Resources See Also Consumer goods...
108. Petroleum Product Resources See Also Energy Utilities Natural Resources Energy Clean Energy...
109. Manufactured Product Resources See Also Industrial Production Industrial Property Regulation...
110. Industrial Product Resources See Also Industry Industrial Unionism Labor Law Industrial Disputes Business Law...
111. Accommodation Line Summary of Accommodation Line The acceptance by an insurance company of substandard risks as an accommodation to a particular broker who has previously provided, and is expected to continue to provide, attractive underwriting business.(Main Author: William J. Miller) Description [...]...
112. Gross Line The face value of all insurance policies that an insurer has in force at any point in time, irrespective of any reinsurance.......
113. Line of Ascent Spanish Translation of line of ascentThis is the legal translation of English to Spanish in relation to line of ascent and / or a definition of this topic: Línea Ascendente (in Spanish, without translation of the dictionary entry)....
114. Line of Descent Spanish Translation of line of descentThis is the legal translation of English to Spanish in relation to line of descent and / or a definition of this topic: Línea Descendente (in Spanish, without translation of the dictionary entry)....
115. Hindenburg Line History of the Hindenburg Line The following commentary about Hindenburg Line in the Churchill Era is produced by the Churchill College (Cambridge): German defences completed in April 1917, running from Arras to the River Aisne. The Hindenburg Line consisted of an outer network covered by [...]...
116. Bottom Line Bottom Line in International Trade Meaning of Bottom Line, according to the Dictionary of International Trade (Global Negotiator): The last line in a financial statement indicating the profit of a company. In a contract, the line upon which a party signs....
117. Line Haul Line Haul in International Trade Meaning of Line Haul, according to the Dictionary of International Trade (Global Negotiator): The direct movement of cargo on a single ship between two ports of call....
118. Steamship Line Steamship Line in International Trade Meaning of Steamship Line, according to the Dictionary of International Trade (Global Negotiator): A company usually having the following departments: vessel operations, container operations, tariff department, bookings, outbound rates, inward rates, and [...]...
119. Tort and Product Liability Tort and Product Liability: Summary In this entry, Tort and Product Liability covers: Elements of a Tort Unintentional Torts (Negligence) Special and Limited Duties Joint and Several Liability Defenses Punitive Damages Contingency Fee System Product Liability Mass Torts...
120. Closing Line Embracing mainstream international law, this section on closing line explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "closing line" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the [...]...