Related Entries of the International Encyclopedia:

1. 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).......
2. 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......
3. Attorney In Fact Any person who is empowered by another to act in his place. It is not necessary for the person acting as "attorney" to be a lawyer. In most cases, the power to act as attorney is conveyed by the principal in writing. The power of attorney so granted may be limited to the performance of a s......
4. In-bond The condition of goods that have been temporarily exempted from customs clearance and duties, in lieu of which the importer or custodian of the goods has posted a surety with customs authorities to ensure that the goods will not be released or consumed until formal examination and clearance [...]...
5. Customs Enforcement Area An area not to extend more than fifty miles seaward, beyond the CUSTOMS WATERS (read this and related legal terms for further details). Within this zone customs officers are authorized to enforce U.S. laws if the preside......
6. Parity In arbitrage usage, an equivalent value for two currencies; for example, the Bermuda dollar enjoys parity with the U.S. dollar (B$l = U.S.SI).......
7. Transaction Value The primary method of valuing goods for customs purposes under the Customs Valuation Agreement (read this and related legal terms for further details).......
8. Attomey-in-fact Definition of Attomey-in-fact in International Trade The following is a concept of Attomey-in-fact in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A person authorized to transact business generally or to perform a designated task of a [...]...
9. 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).......
10. 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).......
11. Customhouse Broker A firm licensed by the U.S. Customs Service to act as the importer's agent in facilitating the clearance of goods through customs. In this capacity, the customhouse broker files all necessary documents with customs to ensure that the merchandise is expeditiously inspected by customs and that pr......
12. Balance On Goods And Services A component of a nation's BALANCE OF PAYMENTS (read this legal term for further details)......
13. 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......
14. 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.......
15. General Order A condition imposed upon merchandise that is imported into the customs territory of the United States but that is not promptly cleared through customs. General order merchandise is deposited in an approved warehouse pending disposition. Section 127 of the Customs Regulations governs the [...]...
16. Balance of Trade Balance Of Trade Summary of Balance Of Trade The sum total, in monetary terms, of a nation's merchandise (i.e., "visible") exports less the value of merchandise imports during a given time period, usually one year. Merchandise imports and exports are contrasted with trade in [...]...
17. 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......
18. Procurement Procurement (by Governments) Procurement in International Trade Meaning of Procurement, according to the Dictionary of International Trade (Global Negotiator): All aspects of acquiring and delivering goods, services and works. It starts with identifying a need and finishes with either the end [...]...
19. Certificate of Origin A document presented to customs authorities at the time of importation to authenticate the national origin of merchandise. The certificate is customarily issued by a recognized chamber of commerce or governmental authority in the country of origin.......
20. 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......
21. Current Account Summary of Current Account An entry in a nation's balance of payments accounts reflecting the purchase of goods or services for consumption immediately or in the near future. See Balance of Payments.(Main Author: William J. Miller) Current Account and International Trade [...]...
22. Devaluation Summary of Devaluation The official reduction of the value of a nation's money in relation to a standard (usually gold), special drawing rights, or the U.S. dollar. Inasmuch as all currencies are ultimately valued in terms of some standard, devaluation results in the conscious increase [...]...
23. 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 [...]...
24. 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......
25. Superdeductive A procedure authorized by U.S. Customs in ascertaining the deductive value of merchandise for assessment of ad valorem duties; deductive valuation is an alternative valuation method specified in the customs valuation agreement (...
26. Balance of Payments Balance Of Payments Summary of Balance Of Payments The sum owed to or by a nation as the result of its international transactions during a given time period, usually one year. The balance of payments is calculated by subtracting the nation's total payments to foreigners from total [...]...
27. Column 1 Rate The rate of duty applied by U.S. Customs to imports from nations enjoying Most Favored Nation (read this and related legal terms for further details) status. See TARIFF (CUSTOMS); Tariff Schedules of the United States.......
28. Consignor The person or firm shown as shipper on the BILL OF LADING (read this and related legal terms for further details).......
29. Customs Territory The geographical area of a country, its possessions, and surrounding waters within which the customs authority is empowered to impose duties and controls upon foreign merchandise entering therein. The customs territory need not necessarily incorporate all the territory over which a nation [...]...
30. 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...
31. Energy Use Gdp Per Unit of Energy Use (in the Human Development Area) In this context Gdp Per Unit of Energy Use means: the ratio of GDP (in 2000 PPP US$) to commercial energy use, measured in kilograms of oil equivalent. This indicator provides a measure of energy efficiency by showing comparable and [...]...
32. Intermediate Goods Synonymous with Intermediate Products (read this and related legal terms for further details).......
33. Bonded Warehouse Summary of Bonded Warehouse A warehouse storage area, or manufacturing facility in which imported merchandise may be stored or processed without payment of customs duties. Such premises are operated by a warehouse proprietor who holds a license from the U. S. Customs Service. Bonded [...]...
34. Offshore Finance Company Synonymous with Foreign Base Finance Company (read this and related legal terms for further details).......
35. Purchasing Agent Purchasing Agent in International Trade Meaning of Purchasing Agent, according to the Dictionary of International Trade (Global Negotiator): An agent that purchases goods in his/her own country on behalf of foreign purchasers that are his/her clients. The purchasing agent represents and buys a [...]...
36. Customs Entry Read Entry (Customs) as cross-reference.......
37. Mtn Valuation Code An agreement on valuation for customs purposes, more commonly known as the customs valuation agreement (read this and related legal terms for further details).......
38. 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 (...
39. General Order Merchandise Goods that have arrived at a U.S. port of entry but have not been claimed or entered within the prescribed period after arrival. In most cases an importer must claim and enter merchandise within five working days following arrival of the goods. District directors of customs may authorize a longer pe......
40. Transit Zone An entry point established by a coastal state for the benefit of a neighboring nation that is landlocked or lacking adequate port facilities for its own trade. Generally a transit zone is cordoned off from the main port facility, and goods passing through the zone are usually exempt from the [...]...
41. Current Balance Current Balance in International Trade Meaning of Current Balance, according to the Dictionary of International Trade (Global Negotiator): The value of all exports (goods plus services) less all imports of a country over a specific period of time, equal to the sum of the trade (visible) and [...]...
42. Customs Transit The condition of merchandise that is transiting the customs territory of a nation without having been released from customs jurisdiction. Goods in customs transit are processed under an in transit entry at the time they enter the United States; the in transit, or I.T., entry is effected by filing wi......
43. Export Value Summary of Export Value The price at which a foreign manufacturer customarily freely offers for sale a given product for export to the United States in the usual wholesale quantities, less export discounts, packing, and costs of preparing the goods for export. The use of this value [...]...
44. Privileged Foreign Status A condition that may be accorded to foreign merchandise entering a foreign trade ZONE (read this and related legal terms for further details). Foreign merchandise entering a zone remains exempt from duty until withdrawn,......
45. Entry of Goods Entry of Goods and the Laws of International Trade Entry of goods: Overview Customs Trade Law The entry process Evidence of right to make entry Entry for consumption Entry documents Surety Entry summary documentation Electronic entry: Automated Commercial [...]...
46. 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 [...]...
47. 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 (...
48. 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 (...
49. 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 [...]...
50. Basic Balance In balance of payments accounting, the sum of the current account plus net long-term capital transactions, public and private. See Balance of Payments.......
51. 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......
52. Reliquidation An amendment of a customs entry Liquidation (read this and related legal terms for further details)......
53. Goods In Free Circulation Merchandise not subject to customs restrictions. These goods would include locally produced (i.e., not imported) merchandise and goods that have been cleared by customs and upon which all duties and taxes have been paid.......
54. Gross Terms Synonymous with Gross Charter (read this and related legal terms for further details).......
55. 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 ......
56. Kyoto Convention An international agreement, sponsored by the Customs cooperation Council (read this and related legal terms for further details), the object of which is to harmonize the methods and procedures of national customs authori......
57. 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 (...
58. Trade Diversion The shift in purchases from sources outside a free-trade area (within which tariffs have been eliminated) to a union member, even though the cost of purchasing outside the union (before duty) is less than procuring from within. The absence of duty among members of the free- trade area more than [...]...
59. Bonded Goods Goods stored in a bonded warehouse prior to release from customs jurisdiction.......
60. 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 [...]...
61. 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......
62. Purchasing Resources See Also Price Policy Price Control Pricing Strategy Dumping...
63. Base Period A given period of time, usually one year, that is used as the standard against which to measure activities in other years. For example, if the purchasing power of the dollar in various years is to be compared, we may use a year, say 1970, as the base period and may speak of purchases in 1975 in term......
64. Export Management Company A private company that serves as the export department of other firms, usually small- and medium-size manufacturers. An EMC will provide a variety of services for its clients, to include locating customers abroad, arranging transportation and financing for the merchandise, developing foreign [...]...
65. In-Bond Transit The movement of goods, without completion of customs formalities, from a point of arrival in the customs territory to a point of exportation or another point for customs examination and release. For example, goods arriving off a ship in Los Angeles might travel in bond to Phoenix for actual customs ......
66. Personal Effects In customs usage, those articles that a traveler might reasonably require during the course of his journey, excluding goods carried for commercial purposes (e.g., trade samples) or contraband.......
67. Intrastat Intrastat in International Trade Meaning of Intrastat, according to the Dictionary of International Trade (Global Negotiator): This is the system for collecting statistical data on the trade between members States of European Union (EU). When a country becomes a member state of the EU, the [...]...
68. Trade Facilitation Trade Facilitation in International Trade Meaning of Trade Facilitation, according to the Dictionary of International Trade (Global Negotiator): Removing obstacles to the movement of goods across borders (e.g. simplification of customs procedures). The International Law of Customs: Trade [...]...
69. Public Purchasing Public Purchasing and Europe There is an entry on public purchasing in the European legal encyclopedia. Resources See Also Further Reading Entry "Public Purchasing" in the work "A Concise Encyclopedia of the European Union from Aachen to Zollverein", by Rodney Leach [...]...
70. Shell Company A "paper" company, usually operated without employees. Normally an attorney or other local agent or management company performs the legal duties of the company on behalf of the stockholders. Shell companies often operate in tax-free or low- tax jurisdictions such as Bermuda, Liechtenstein,......
71. Buy American Act A 1933 act of Congress which provides that Federal agencies and certain contractors to the Federal government are obliged to buy articles of American manufacture unless American goods cannot be procured at reasonable cost in relation to foreign equivalents. The act has been challenged in multilatera......
72. 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......
73. Carrier's Certificate A document issued by a steamship line, an airline, or other transportation company carrying imported merchandise certifying to the customs authorities that the party named is the legitimate recipient of the goods and is authorized to effect clearance through customs (see figure). The party so named ......
74. Computed Value Method An alternative method of valuing imports for the imposition of ad valorem duties, as provided in the customs VALUATION AGREEMENT (read this and related legal terms for further details).......
75. Free Trade Area Summary of Free Trade Area An association of states that seeks to overcome impediments to trade among members by reducing or eliminating tariffs among the participants. The members of a free trade area do not maintain a common external tariff nor do they (usually) provide for the free flow [...]...
76. Insular Possessions Certain offshore possessions of the United States that are considered to be beyond the Customs Territory (read this and related legal terms for further details). The insular possessions are the Virgin Islands, Guam, Amer......
77. 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......
78. Prime Rate The rate of interest on business loans by commercial banks to their most creditworthy customers. The maintenance of a COMPENSATING BALANCE (read this and related legal terms for further details) by the borrower is custom......
79. Terms Of Delivery A specification of the point at which title and risk of loss on merchandise are transferred from seller to buyer. The point of transfer is determined by commercial negotiations or customs of the particular trade and is stipulated by such terms as F.O.B. (named point), C.I.F. (named port), and ex war......
80. Trading Company A firm engaged in the purchase, distribution, and marketing of products in international trade. Generally, the trading company deals with products of unrelated firms as well as the manufacturers of joint ventures in which it is involved.......
81. Customs Enforcement In the United States For information about Customs enforcement in the context of international trade, click here...
82. Entrepot A warehouse or storage facility where foreign merchandise may be deposited and withdrawn for re-export without incurring customs duties.......
83. Power of Attorney Introduction to Power of Attorney Power of Attorney, in law, written document, certified by a notary public, designating a person or party as an agent empowered to act for another person (principal) in a legal capacity. A general power of attorney authorizes the named agent to act on behalf ......
84. International Purchasing International Purchasing or Sourcing Find out, in this world legal encyclopedia, additional information relating to International Purchasing or Sourcing ....
85. Police Power Real Estate meaning of Police PowerIn the words of the Encyclopedia of Real Estate Terms about Police Power: The power of promoting the interests of society as a whole by limiting the freedom of an individual to act or use his property at will. In particular, the constitutional power available [...]...
86. Power Sharing Power Sharing in Election Law In the context of an election, this often refers to an agreement made by political parties on their participation in the government after the vote. Resources See Also Election Law Electoral Laws Electoral Legislation ...
87. Pardon Power In relation to the pardon power and constitutional law, Andrew Novak[1] made the following observation: The pardon power (or, the power to pardon) refers to the executive power to alter, cancel, or substitute a criminal sentence or punishment outside of the judicial branch. This power is [...]...
88. Protecting Power Protecting Power(s) Embracing mainstream international law, this section on protecting power(s) explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "protecting power(s)" in the Parry and Grant Encyclopaedic Dictionary of [...]...
89. Power Plant Resources See Also Energy Utilities Natural Resources Energy Clean Energy...
90. Power Resources Resources See Also Energy Utilities Natural Resources Energy Clean Energy...
91. Political Power Resources See Also Government Government Contract Local Government Public Administration Administrative Law Public Law...
92. Power of Attorney by states ContentsPower of Attorney by statesConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Power of Attorney by ... Read more...
93. Cooperative Purchasing Literature Review on (Procurement) Cooperative Purchasing In the Encyclopedia of Public Administration and Public Policy, [1] Alex Sekwat offers the following summary about the topic of (Procurement) Cooperative Purchasing: Cooperative purchasing promotes sound administrative values, [...]...
94. Power of International Organizations Legal Power of International Organizations Case Law on the Legal Power of International Organizations Main court decisions: Interpretation of the ... Read more...
95. Arbitration: Limited discretionary power to enforce in the presence of grounds for refusal ContentsArbitration: Limited discretionary power to enforce in the presence of grounds for refusal Source: ICCA’S Guide to the interpretation of ... Read more...
96. Balance of Power Balance of Power, theory and policy of international relations that asserts that the most effective check on the power of a state is the power of other states. In international relations, the term state refers to a country with a government and a population. The term balance of power refers to [...]...
97. Sources of Power Great Powers: Sources of PowerIntroduction to Sources of PowerPolitical scientists define power in the international political system as the potential to influence other states. Such potential derives from a mix of elements, both tangible and intangible. These elements include natu......
98. Executive Power The Legal History of Executive Power This section provides an overview of Executive Power in an historical perspective. Absence of Any Executive Power Lassa Oppenheim, in the book entitled The Future of International Law, about Absence of Any Executive Power, wrote in 1921: This [...]...
99. Judicial Power The Legal History of Judicial Power This section provides an overview of Judicial Power Resources See Also JudiCiary Acts Resources See Also Legal Biography Legal Traditions Historical Laws History of Law Further Reading Judicial Power in the Oxford International Encyclopedia of Legal [...]...
100. Legislative Power The Legal History of Legislative PowerThis section provides an overview of Legislative Power ResourcesSee AlsoLegal Biography Legal Traditions Historical Laws History of Law Further Reading Legislative Power in the Oxford International Encyclopedia of Legal History (Oxford University Press) [...]...
101. War Power The Legal History of War PowerThis section provides an overview of War Power ResourcesSee AlsoLegal Biography Legal Traditions Historical Laws History of Law Further Reading War Power in the Oxford International Encyclopedia of Legal History (Oxford University Press) The Oxford Encyclopedia of [...]...
102. Market Power Market Power and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Power: The ability of an individual firm to exert control over prices prevailing in the markets for its products or services. The highest [...]...
103. Bargaining Power Concept of Bargaining Power An introductory definition of Bargaining Power is provided here: the general capacity of a state to control the behaviour of others, power to cause another actor to do an action (also see structural power) Resources See Also Foregin Policy Foreign Affairs...
104. Structural Power Concept of Structural Power An introductory definition of Structural Power is provided here: the power to change the rules of the game for others, the power to structure the choices of other actors Resources See Also Foregin Policy Foreign Affairs...
105. Tax Power Power to Tax and Spend in U.S. Constitutional Law A list of entries related to Power to Tax and Spend may be found, under the Power to Tax and Spend subject group, in the United States constitutional law platform of the American legal encyclopedia....
106. Fly-power Assignment Description of Fly-power Assignment Resources See Also Corporations...
107. Contempt Power Resources See Also Contempt of Congress Contempt of court Sanction...
108. Electric Power Resources See Also Energy Utilities Natural Resources Energy Clean Energy...
109. Steam Power Resources See Also Energy Utilities Natural Resources Energy Clean Energy...
110. Womens Power Resources See Also Population Population Planning Population Policy...
111. Balance of Power History Balance of Power From Ancient Times to World war IIHistorical examples of power balancing are found throughout history in various regions of the world, leading some scholars to characterize balance of power as a universal and timeless principle. During the Period of the Warring States in Ch......
112. Balance Of Power In The Cold War Balance of Power in the Nuclear AgeThe Cold War standoff between the United States and the Soviet Union shaped the global balance of power after World War II. Although an actual war between these two superpowers never occurred, the balance of power process instead took the form of a massive......
113. Balance Of Power In The XXI Century Balance of Power in the Late XX CenturyThe collapse of the Soviet Union in 1991 left the United States as the world's sole superpower. Balance of power theory suggests that without the Soviet threat the United States, as the dominant world power, will face difficulties in its relations ......
114. Balance Of Power Significance Significance to International RelationsAs a policy, balance of power suggests that states counter any threat to their security by allying with other threatened states and by increasing their own military capabilities. The policy of forming a geographically based coalition of states to surro......
115. Durable Power of Attorney Durable Power of Attorney (enduring Power of Attorney) in Aging Law Concept of Durable Power of Attorney (enduring Power of Attorney) in the context of Community Health Care and Services for Older Persons, published by the World Health Organization (WHO):A written legal document in which a [...]...
116. Delegation of Legislative Power Delegation of Legislative Power in U.S. Constitutional Law A list of entries related to Delegation of Legislative Power may be found, under the Delegation of Legislative Power subject group, in the United States constitutional law platform of the American legal encyclopedia....
117. Trade Union Power Resources See Also Political System Politics Government...
118. Ecclesiastical Courts Decline in Power Introduction to Ecclesiastical Courts Decline in PowerThe Reformation was a basic cause of the decline of the ecclesiastical courts. Other causes included the rise of representative government, the separation of judicial from executive and legislative powers of government, and the separatio......
119. Fukushima Nuclear Power Plant Nuclear Safety in the Aftermath of the Accident at the Fukushima Nuclear Power Plant in 2011 United States views on international law (based on the document "Digest of U.S. Practice in International Law"): On March 11, 2011, an earthquake registering 9.0 on the Richter scale struck [...]...
120. Case Concerning Barcelona Traction, Light, and Power Company ContentsCase Concerning Barcelona Traction, Light, and Power Company, Ltd. (Second Phase) ConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned ... Read more...