Related Entries of the International Encyclopedia:

1. Supplementary Levy An additional tax that may be imposed upon imports of pork, poultry, or eggs into the European Economic Community when the purchase price of such items falls below the Gate Price ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
2. Compensatory Tax A special import levy imposed by the European Economic Community upon certain agricultural imports when the entry price of such products falls below a reference, or minimum target, price and the import is priced so as to reflect an export subsidy. Compensatory taxes are institutionalized in the [...]...
3. Common Financing A feature of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
4. Common Pricing A feature of the COMMON AGRICULTURAL policy (read this and related legal terms for further details) of the European Economic Community.......
5. Single Market Summary of Single Market A component feature of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Single Market and Europe There is an entry on single market in the European [...]...
6. 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......
7. Restitutions Export and producer subsidies granted by the European Economic Community to EEC farmers and processors. The subsidies are a feature of the Common Agricultural Policy (read this and related legal terms for further details......
8. Buyer's Premium A subsidy offered by a member state of the European Economic Community to domestic tobacco processors to encourage the use of EEC, rather than imported, tobaccos. The program, which is a feature of the common AGRICULTURAL POLICY (...
9. Financial Solidarity A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
10. Community Preference Summary of Community Preference A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Community Preference and Europe There is an entry on community [...]...
11. Variable Import Levy A duty applicable to imports of certain significant agricultural commodities into the European Economic Community. The Common Agricultural Policy (read this and related legal terms for further details). of the EEC specif......
12. Monetary Compensatory Amounts Settlements between member states of the European Economic Community to reflect the market rate of currencies used in agricultural transactions and the periodically revised Green Rate (read this and related legal terms for f......
13. Intervention Summary of Intervention A process within the framework of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community whereby the EEC will purchase certain commodities currently selling below a stipulated target price. The price [...]...
14. Chicken War A protracted dispute between the United States and the European Economic Community arising from the adoption of Europe's COMMON AGRICULTURAL POLICY (read this and related legal terms for further details) on chicken i......
15. Werner Report A report on the subject of European integration, prepared by a committee under the leadership of Pierre Werner, prime minister of Luxembourg. The report, published in October 1970, urged full economic and monetary union within the European Economic Community as "a catalyst for the development o......
16. European Economic Community Summary of European Economic Community One of the three components of the European Communities. In March 1957, the members of the European Coal and Steel Community (France, Federal Republic of Germany, Italy, and the Benelux countries) expanded the sphere of economic cooperation through the [...]...
17. Montant De Soutien A plan devised by the European Economic Community in 1963 as the basis of agricultural trade negotiations during the Kennedy round. The plan is predicated upon a reference price for a given agricultural commodity; any imports below the reference price would incur a levy equal to the spread between t......
18. Snake A medium for the stabilization of the exchange rates of European currencies. In October 1970 the Werner Plan addressed the adoption of a common European currency as a vehicle for the full economic and political integration of Europe. The demise of the bretton woods agreement (...
19. Basel Agreement An agreement, concluded April 24, 1972, among members of the European Economic Community for the purpose of narrowing the margins of fluctuation among community currencies. Participants in the agreement were Belgium, Germany, France, Luxembourg, Italy, and the Netherlands. The agreement served as th......
20. 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 (...
21. Dillon Round A series of multinational trade discussions conducted during 1960-1962 under the sponsorship of the general agreement of tariffs and Trade (read this and related legal terms for further details). The principal result of ......
22. 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 ......
23. 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......
24. 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......
25. Agricultural Policy Common Agricultural Policy (CAP) and Europe There is an entry on common agricultural policy (cap) in the European legal encyclopedia. Resources See Also Government Government Contract Local Government Public Administration Administrative Law Public Law Resources See Also Further Reading [...]...
26. Schuman Plan Summary of Schuman Plan A series of proposals for the pooling of European coal and steel resources as a vehicle for European economic recovery and integration, advanced by Robert Schuman of France in 1950. Schuman's plan was accepted by the governments of Belgium, Luxembourg, the [...]...
27. Trade Agreements Act Of 1962 An act that authorized the president, during the period of July 1, 1962, through June 30, 1967, to reduce or eliminate certain tariffs in return for similar concessions on the part of other trading nations. The act was largely in response to the elimination of internal duties by members of the Europ......
28. Economic Union Summary of Economic Union Also known as an economic community, an advanced form of economic integration on the part of several states. The economic union incorporates the features of a Common market (read this and related legal terms for further details)—unrestricted free trade among [...]...
29. European Common Market European Common MarketCross-reference: European Economic Community and European Union.......
30. Treaty of Rome Treaty Of Rome Summary of Treaty Of Rome The document, signed at Rome in 1957 (effective January 1, 1958), by which the six founding states established the European Economic Community (read this and related legal terms for further details). (Main Author: William J. Miller) The Treaty of [...]...
31. Franchise A provision in a marine cargo policy that partial losses will be adjusted if the loss exceeds a certain percentage of the total value of the shipment. A clause providing "with average if amounting to 3 percent," for example, would oblige the underwriter to settle a partial-loss claim [...]...
32. Positive Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the actual value of the transaction, as defined by buyer and seller. This view has been substantially fulfilled by the recent adoption of the transaction value basis of valuation in the Customs Valuatio......
33. Ocean Freight Differential A sum rep resenting the difference in freight costs associated with moving subsidized agricultural exports on American rather than cheaper foreign vessels. The differential is provided for shipments under the Agricultural Trade Development And Assistance Act (...
34. 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......
35. European Community European Community (EC) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of European Community (EC): (Previously known as the European Economic Community, or EEC; the term "European Communities" [...]...
36. Arbitrage Summary of Arbitrage The practice whereby foreign exchange or commodities are purchased in one market at lower cost and rapidly traded off in another, higher cost market. For example, if the pound sterling sells for $1.50 in Paris, but only $1.45 in New York, an arbitrageur could buy [...]...
37. European Agricultural Guidance And Guarantee Fund Common Agricultrural Policy is considered here.......
38. Fecom The French acronym for the European Monetary Cooperation Fund. (read this and related legal terms for further details).......
39. 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......
40. 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 (...
41. Free Market The economic system of a nation in which market forces determine which goods and services are produced, and at what price they are offered. Free market economies do not contain substantial government controls on resource availability, price levels, or central planning of economic objectives.......
42. 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 (...
43. Sliding Scale Tariff A customs tariff in which rates of DUTY (read this and related legal terms for further details) vary according to the price of a given import. Usually, as the price of the item declines, the duty is reduced. Duties may b......
44. 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......
45. Common Market Summary of Common Market A supranational organization of trading nations, created to promote economic collaboration and minimize constraints on the free movement of goods among the member states. Features of a common market include elimination of tariffs on goods moving between member [...]...
46. 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......
47. International Reserves Gold, hard currencies, and special drawing rights (read this and related legal terms for further details) issued by the international monetary fund (...
48. Selective Safeguards In European usage, a synonym for a bilateral restraint agreement (read this and related legal terms for further details).......
49. Trade Agreements Act Of 1979 An act of Congress implementing certain agreements negotiated under the Tokyo Round (read this and related legal terms for further details). The act replaced the Countervailing Duty Law and Antidumping Act of 1921 and ab......
50. Paper Gold A common reference to Special Drawing Rights (read this and related legal terms for further details) issued by the International Monetary Fund.......
51. 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......
52. 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 (...
53. 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......
54. Common External Tariff Summary of Common External Tariff The uniform customs tariff applied by all the member states of a customs union or common market to imports from nonmember nations.(Main Author: William J. Miller) Common External Tariff and the GATT Policy Negotiations In relation to the GATT [...]...
55. Economic Nationalism A conscious, articulated national drive toward economic self-sufficiency. Economic nationalism is comparable to Autarchy (read this and related legal terms for further details) but does not mandate the economic isolation......
56. Findley Amendment An amendment to the AGRICULTURAL TRADE DEVELOPMENT AND ASSIST-ANCE ACT (read this and related legal terms for further details) of 1954 (P.L. 480) that precludes sales of agricultural produce under Title I of the act to a......
57. Interbank Market A market for the purchase and sale in the spot and forward markets for foreign exchange among major commercial banks. Very often, these banks will offer to purchase or sell exchange through brokers, thereby initially protecting the identity of the market participants in a given currency at a point i......
58. 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......
59. 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......
60. 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......
61. Export-Import Bank Of The United States Commonly known as Eximbank, an independent, self-funding agency of the U.S. government created to facilitate exports of American products. Originally chartered under the laws of the District of Columbia in 1934, Eximbank was rechartered by an act of Congress in 1945. The bank provides short-, medium......
62. Purchase Order Purchase Order in International Trade Meaning of Purchase Order, according to the Dictionary of International Trade (Global Negotiator): A purchaser's written offer to a supplier formally stating all terms and conditions of a proposed transaction. Sometimes, in a certain number of [...]...
63. Hire-Purchase In British usage, an installment purchase.......
64. Bargain Purchase Option A provision of a lease agreement that permits the lessee to purchase the leased asset at a price expected to be below fair market value.......
65. Matched Sale-Purchase Transactions An arrangement whereby Treasury bills are sold by the Federal Reserve system, through the Federal Reserve Bank of New York, for periods of one to seven days, with subsequent repurchase by the Federal Reserve. Such transactions, also known as reverse repurchase agreements, serve initially to reduce b......
66. Adjusted Cif Price A factor in determining the variable import levy imposed by the European Economic Community on grain imports. The adjusted C.I.F. (cost, insurance, and freight) price is derived by assigning a quality factor to grain imported from non-EEC countries so as to put the import on a quality basis comparab......
67. Base Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, a trigger price for specific commodities at which member states will intervene to support the market price of a commodity. Member states may respond to a decline in market prices below the base price by la......
68. Entry Price Under the common agriculture POLICY (read this and related legal terms for further details) of the European Economic Community, the price at which certain imported agricultural products enter EEC commerce. If the entry p......
69. Gate Price The minimum price at which pork, poultry, and eggs werw permitted to enter the European Economic Community under the common AGRICULTURAL POLICY (read this and related legal terms for further details) without imposition o......
70. Guide Price As used in conjunction with the European Economic Community's Common Agricultural Policy on cattle and calves, it is synonymous with Orientation Price (read this and related legal terms for further details).......
71. Indicative Price Also known as the norm price, the Target Price (read this and related legal terms for further details) for producers of olive oil under the common agricultural policy (...
72. Intervention Price The price at which the European Economic Community, in accordance with the Common Agricultural Policy (read this and related legal terms for further details), will intervene in the market to buy excess agricultural produ......
73. Orientation Price As used in conjunction with the Common Agricultural Policy of the European Economic Community it is the target price (read this and related legal terms for further details) for cattle and calves, i.e., the equilibrium pr......
74. Price Cartel An agreement among business entities to fix prices, to establish ranges within which prices may move, or to establish methods by which prices may be determined.......
75. Price Supports A program of governmental action designed to stabilize or lift the price that producers receive for their products. These actions may include direct cash payments, government purchase of output to force up market prices, or special financing. Such supports are most commonly applied to agriculture.......
76. 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.......
77. Target Price An important concept within the common agricultural policy (read this and related legal terms for further details) of the European Economic Community. It represents an optimum wholesale price within the community for a g......
78. Threshold Price A minimum import price for commodities established under the common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community, set so as not to hamper sales of EEC pro......
79. Withdrawal Price A floor price at which European Economic Community producers of certain food products may withhold their goods from the market. The withdrawal price is generally below the base price (i.e., the target price set for a given commodity) and the purchase price at which EEC governments will intervene in ......
80. Minimum Import Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, Gate price (read this and related legal terms for further details).......
81. Able to Purchase Resources See Also Financially able...
82. Authority To Purchase An instrument used primarily by Far Eastern banks to finance import purchases. The authority-to-purchase instrument resembles, and is often confused with, a letter of credit, although it lacks some of the features of a letter of credit. The authority instrument directs the negotiating (i.e., advisin......
83. Option to Purchase Resources See Also Option...
84. Cross-purchase Agreement Description of Cross-purchase Agreement Resources See Also Business-Continuation Agreement; Third-Party Business-Buyout Agreement...
85. Irrevocable Corporate Purchase Order Irrevocable Corporate Purchase Order (ICPO) in International Trade Meaning of Irrevocable Corporate Purchase Order (ICPO), according to the Dictionary of International Trade (Global Negotiator): An offer to buy goods under specified terms and conditions; for example, for misuse....
86. Price Base Price or Basic Price and International Trade Resources See Also Further Reading Information related to price in the Max Planck Encyclopedia of International Law(MPEPIL), Germany, United Kingdom Resources See Also Common Agricultural Policy Gate Price and International Trade Resources [...]...
87. Arm's Length Price The price at which a given commodity would sell in a sale between an unrelated buyer and seller. Arm's length pricing is the functional opposite of transfer pricing, in which the buyer and seller are related and the price is influenced by that relationship.......
88. Cash Price The same as SPOT price (read this and related legal terms for further details), as used in grain transactions.......
89. 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......
90. 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......
91. Reference Price A mechanism of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community designed to prevent disruptive import competition for certain vegetables, fruits, f......
92. Spot Price The price of a commodity in the Spot Market (read this and related legal terms for further details), i.e., the price quoted for immediate sale and delivery. ......
93. World Price The price at which a given commodity is selling internationally under market conditions in effect at the time of sale. To provide a valid comparison between prices, the world price quoted must normally include quality, location, and perhaps other factors, depending upon the commodity.......
94. Price Discrimination Price Discrimination and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Price Discrimination: The practice of charging unequal prices to different buyers of products that are essentially identical, when such [...]...
95. Price Competitiveness Price Competitiveness and International Trade Economy Resources See Also competitiveness...
96. Price Bands Price Bands and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Price Bands: A form of variable levy linked to a system of domestic price controls. Countries such as Chile and Colombia [...]...
97. Price Undertaking Price Undertaking and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Price Undertaking: An agreement by an exporting firm with the government of an " importing country to raise the [...]...
98. Price Restrictions In the United States For information about Price restrictions in the context of international trade, click here...
99. Price Differentiation Price Differentiation in International Trade Meaning of Price Differentiation, according to the Dictionary of International Trade (Global Negotiator): Price strategy for international markets that allows each local subsidiary or partner (agent, distributor. etc.) to set a price that is [...]...
100. Price Standardization Price Standardization in International Trade Meaning of Price Standardization, according to the Dictionary of International Trade (Global Negotiator): Price strategy for international markets based on setting a price for the product as it leaves de factory. At its simplest it involves setting [...]...
101. Price Policy Related Fields Related topics include: Economic Development Find this subject in this World legal encyclopedia. Social development Find this subject in this World legal encyclopedia. Price Policy Find this subject in this World legal encyclopedia. Price Control Find this subject in this World [...]...
102. Price Control Resources See Also Price Policy Price Control Pricing Strategy Dumping...
103. Price Stabilization Resources See Also Price Policy Price Control Pricing Strategy Dumping...
104. Price Support Resources See Also Price Policy Price Control Pricing Strategy Dumping...
105. 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 ......
106. Commodity Price Index An index of prices for a stipulated list of commodities. Prices may be on a spot or futures basis. Customarily, major commodities are traded on exchanges (although there are some exceptions), and price fluctuations can be monitored accordingly. The U.S. Department of Labor maintains an index of twen......
107. Consumer Price Index Summary of Consumer Price Index An index of the retail price of four hundred consumer products and services, computed monthly by the Bureau of Labor Statistics. Formerly known as the Cost of Living Index, the compilation includes retail price inputs of given items from many cities across [...]...
108. Foreign Market Price For purposes of customs valuation comparisons, generally the price of like merchandise sold for consumption in the country of origin.......
109. International Price Index A price index that serves as a standard to measure inflation in industrialized countries. The index consists of the C.I.F. value (in U.S. dollars) of exports of industrial country manufactures to developing countries.......
110. Resale Price Method Synonymous with Arm's Length Price (read this and related legal terms for further details).......
111. Trigger Price Mechanism A program of import surveillance instituted by the U.S. government in 1977. Under this scheme, a floor price is established for designated import items; this floor is predicated upon the production cost of the most efficient foreign producer, with adjustments for freight and currency [...]...
112. Price-Fixing Agreement Price-Fixing Agreement and International Trade Economy Resources See Also cartel...
113. Net Price Net Price in International Trade Meaning of Net Price, according to the Dictionary of International Trade (Global Negotiator): The price paid or payable after all discounts and rebates have been applied....
114. Going Price Resources See Also Fair market value...
115. Exercise Price The price at which the holder of an option contract may buy or sell a specified quantity of a given commodity, security, or currency.......
116. Norm Price Norm Price and International Trade Resources See Also Common Agricultural Policy...
117. Strike Price Strike Price in International Trade Meaning of Strike Price, according to the Dictionary of International Trade (Global Negotiator): Price at which the option buyer obtains the right to purchase (call option) or sell (put option) the underlying security or currency....
118. Current Price Resources See Also Current market value Fair market value...
119. Call Price Resources See Also Redemption...
120. Administered Price Resources See Also Price Policy Price Control Pricing Strategy Dumping...