Related Entries of the International Encyclopedia:

1. Currency Adjustment Factor A surcharge imposed on ocean freight by a carrier to offset or mitigate the impact of exchange rate fluctuations upon his freight revenue.......
2. Key Currency The currency of a major trading nation widely accepted in settlement of international accounts. At present, eight currencies are regarded as key currencies and are known as the Big Eight ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal [...]...
3. Freight Tariff Not Otherwise Specified (NOS) in International Trade Meaning of Not Otherwise Specified (NOS), according to the Dictionary of International Trade (Global Negotiator): This expression and abbreviation is often applied to air freight tariffs, indicates that the rate stated in the tariff applies [...]...
4. Tariff (Freight) A document issued, usually in booklet form, by a Common Carrier (read this and related legal terms for further details) listing its charges for transportation services. Commonly, the rate, or cost of transportation, vari......
5. Forward Exchange Contract An agreement to exchange, at a specified future date, a fixed number of units of one currency for a fixed number of units of another currency. Such contracts are often procured by merchants when they must settle future accounts in a foreign currency and wish to protect against possible losses [...]...
6. Purchasing Power Parity An equal relationship of prices between two countries. Price levels in both countries are substantially the same, considering the rate of exchange.......
7. Multiple Currency System Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
8. Rationing Of Exchange An exchange control imposed by governmental authority to regulate transactions in foreign exchange. Under a rationing of exchange scheme, only the government may issue exchange to importers, and holders of bills of exchange denominated in a foreign currency must surrender them to the government in e......
9. Roosa Bonds Bonds sold by the U.S. Treasury in the 1960s to foreign central banks for dollars as part of a Swap Arrangement (read this and related legal terms for further details) to relieve exchange rate instability. The bonds prov......
10. 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......
11. Covered Transaction A transaction denominated in terms of a foreign currency, payable at a future date, in which protection against loss on exchange has been procured, usually in the form of a Forward Exchange Contract (read this and related le......
12. Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
13. 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 (...
14. Divergence Threshold Within the euro Pean Monetary System (read this and related legal terms for further details), each participating currency is assigned a value in terms of the European currency unit (ECU). The participating currency is pe......
15. Tariff Preferences Summary of Tariff Preferences Essentially synonymous with Trade Preferences (read this and related legal terms for further details).(Main Author: William J. Miller) Embracing mainstream international law, this section on tariff preferences explores the context, history and effect [...]...
16. Floor In the case of a variable rate loan (read this and related legal terms for further details), a prearranged minimum rate of interest that will be imposed, irrespective of how low the money market index falls.......
17. Freight of All Kinds Freight of All Kinds in International Trade Meaning of FAK (Freight of All Kinds), according to the Dictionary of International Trade (Global Negotiator): Freight rate applicable to all types of goods and therefore is not restricted to a particular commodity. FAK freight rates are quoted [...]...
18. Par Value The nominal value assigned to a currency by its issuing authority. Normally, this value is expressed as a quantity of gold, or another currency convertible into gold. When the market value of a currency, expressed in terms of other convertible currencies, deviates significantly from its par [...]...
19. Differential Exchange Rates A scheme in which a government prescribes different rates of exchange for the local currency, depending upon the transaction involved. The government may assign its currency a given value in terms of gold for capital transfers, for example, but provide for a less favorable rate of exchange for impor......
20. Memorandum Tariff An abstract of a freight tariff. This document, usually published by carriers in a given trade, contains selected rates and other information extracted from the official tariff. The purpose of a memorandum tariff is to highlight information of wide interest.......
21. Financial Accounting Standards Board Statement No 8 A far-reaching and controversial pronouncement by the Financial Accounting Standards Board governing accounting practices used by American firms in transactions involving foreign currencies. The pronouncement, known commonly as FASB 8, came into effect for fiscal years beginning January 1, 1976. Am......
22. Freight-Allowed Pricing Synonymous with zone-delivered pricing (read this and related legal terms for further details).......
23. Fiduciary Currency A currency backed solely by the faith of the government that issues it. The term does not carry the negative import often associated with fiat money (read this and related legal terms for further details). See also Money......
24. 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......
25. Exchange Control The system by which a government regulates possession of and dealings in foreign exchange. The principal objective of exchange control is to allocate foreign exchange to necessary imports and expenditures. Normally, the finance ministry or central bank is invested with the authority to issue [...]...
26. Air Freight Consolidator Definition of Air Freight Consolidator in International Trade The following is a concept of Air Freight Consolidator in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A company that obtains a low freight-of-all-kinds freight rate from [...]...
27. Floating Currency Floating Currency in International Trade Meaning of Floating Currency, according to the Dictionary of International Trade (Global Negotiator): One whose value in terms of foreign currency is not kept stable (on the basis of the par value or a fixed relationship to some other currency) but [...]...
28. Gold Standard Summary of Gold Standard A system under which a nation's currency is freely convertible into gold. The quantity of gold per unit of currency is fixed by law. Most major trading nations, however, abandoned the gold standard because of the constraints it imposes upon liquidity, although [...]...
29. Dirty Float Also known as managed float, the process whereby national monetary authorities intercede in the foreign exchange markets to prevent significant fluctuations in the values of their own or other currencies. The process is accomplished by selling reserves of currencies rising in value, or the [...]...
30. Freight Broker Synonymous with Cargo Broker (read this and related legal terms for further details), in vessel charter transactions.......
31. General Tariff A tariff schedule in which a single rate of duty applies to a given commodity irrespective of the country of origin. A general tariff makes no provision for preferential duties.......
32. 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 (...
33. Forward Exchange Option Forward Exchange Option in International Trade Meaning of Forward Exchange Option, according to the Dictionary of International Trade (Global Negotiator): A contractually agreed right to buy (put) or to sell (call) a specific amount of one currency for a specified amount of another [...]...
34. Soft Currency A national currency that, because of exchange controls, is not freely convertible into gold or other currencies. Such controls are usually manifest in officially set rates of exchange that do not reflect the price of the soft currency, were it permitted to trade freely.......
35. Currency Future Currency Future in International Trade Meaning of Currency Future, according to the Dictionary of International Trade (Global Negotiator): A contract for the future delivery of a commodity, currency, or security on a specific date. In contrast to forward contracts, future contracts are for [...]...
36. Financial Accounting Standards Board Statement No 52 A set of accounting rules governing offshore and multicurrency transactions, adopted in 1981 and mandatory for use by December 15, 1984. FASB 52 replaces Financial Accounting Standards Board Statement No. 8 (read this and re......
37. 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......
38. Smithsonian Agreement A largely unsuccessful effort to revive the fixed exchange rate system established by the bretton woods agreement (read this and related legal terms for further details).......
39. Freight Prepayable Freight Prepayable in International Trade Meaning of Freight Prepayable, according to the Dictionary of International Trade (Global Negotiator): Terminology designed by carriers to provide transportation documentation indicating the freight charges are for the account of the shipper, while no [...]...
40. Dollar Bill Of Exchange Synonymous with Dollar Exchange (read this and related legal terms for further details).......
41. Multiple Exchange Rates Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
42. Exchange Rates Multiple Exchange Rates (also known as Differential Exchange Rates) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Multiple Exchange Rates (also known as Differential Exchange Rates): [...]...
43. International Tanker Nominal Freight Scale A schedule of nominal rates for movements of tankers between world ports. Publication was ceased in 1969; it has been succeeded by Worldscale (read this and related legal terms for further details).......
44. 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......
45. As Freighted The process by which surcharges and accessorial charges on ocean freight are computed. Most ocean tariffs provide for freight to be assessed on cargo by weight (usually a ton) or measurement (usually a cubic meter or forty cubic feet), whichever provides greater revenue to the carrier. Units of [...]...
46. 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......
47. Tariff Biding Tariff Biding in International Trade Meaning of Tariff Biding, according to the Dictionary of International Trade (Global Negotiator): Commitment not to increase a rate of duty beyond an agreed level. Once a rate of duty is bound, it may not be raised without compensating the affected parties....
48. Exchanger Exchanger Contents Exchanger in the E-Commerce Law An exchanger (also sometimes called a virtual currency exchange) is a person/entity engaged ... Read more...
49. Air Freight Forwarder Definition of Air Freight Forwarder in International Trade The following is a concept of Air Freight Forwarder in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): A freight forwarder for shipments by air. In many respects, air freight [...]...
50. Currency Currency in International Trade Meaning of Currency, according to the Dictionary of International Trade (Global Negotiator): The circulating media of exchange in a country. Includes money and such financial instruments as checks. Resources See Also Public Finance Public Policy Tax Law [...]...
51. Fixing Fixing in International Trade Meaning of Fixing, according to the Dictionary of International Trade (Global Negotiator): In foreign exchange, establishing of the official exchange rate of a domestic currency against other negotiable currencies....
52. Tariff Quotas Tariff Quotas in International Trade Meaning of Tariff Quotas, according to the Dictionary of International Trade (Global Negotiator): Application of a higher tariff rate to imported goods after a specified quantity of the product has entered the country at a lower prevailing rate. See quota....
53. Dual Exchange Market A governmentally mandated system for the handling of foreign exchange transactions under which officially sanctioned imports or other approved transactions are accommodated at a given, prescribed rate of exchange while other transactions employ the market rate of exchange. For a listing of countries......
54. Yo-Yo Effect A condition that arises under the rules of Financial Accounting Standards Board Statement No. 8 (read this and related legal terms for further details) when a foreign company's total monetary assets differ from its t......
55. Rate Schedule Other Popular Tax Definitions in the World Legal Encyclopedia Adjusted Gross Income (sometimes, including Rate Schedule) ...
56. Real Interest Rate Synonymous with effective interest Rate (read this and related legal terms for further details).......
57. Released Valuation Rate A lower tariff rate provided by a common carrier to a shipper in return for a reduced claim liability on the part of the carrier. For example, a carrier may offer a reduced rate if the shipper agrees to release the value of the product at fifty cents per pound. The Interstate Commerce Commission mus......
58. Riskless Rate Of Return The rate of interest paid by government securities; it constitutes a base against which other rates of return may be judged in assessing the effective use of capital.......
59. Royalty Rate The return that a firm receives from granting license for the use of its processes, trademarks, et cetera, to another firm.......
60. Tax Rate Other Popular Tax Definitions in the World Legal Encyclopedia Adjusted Gross Income (sometimes, including Tax Rate) Ad......
61. Actual Value Rate A freight rate applicable to certain commodities where, depending upon the actual goods, value may vary greatly. For example, the classification "scientific instruments" may embrace low-value laboratory glassware or high-value precision instruments. In such cases, the shipper must declare ......
62. Bank Rate The rate at which the Bank of England and the Bank of Canada lend to commercial banks.......
63. Base Rate The specific commodity or general class rate applicable to a product in a common carrier's tariff. Various surcharges, fuel adjustments, currency adjustment factors, et cetera, may be imposed on top of the base rate; they are often expressed as a percentage of the base rate.......
64. Cable Rate The exchange rate quoted for a given currency transferred by cable. The cable rate is higher than the rate for checks or bills of exchange denominated in the same currency because cable transfers are virtually instantaneous, thereby denying the bank or broker use of the funds during the collection p......
65. Central Rate Each currency affiliated with the EUROPEAN monetary system (read this and related legal terms for further details) is assigned a value in terms of the European currency unit (ECU). The central rate is the range within wh......
66. Check Rate The rate of exchange applicable to bankers' checks. This rate is lower than the cable rate but higher than the rate applicable to time bills of exchange, owing to the time value of money.......
67. 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.......
68. Combination Rate An inland freight rate from point of origin to destination derived by adding two or more intermediate rates.......
69. 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 (...
70. Customs Rate The rate of exchange employed by U.S. Customs in converting foreign currency invoices for the purpose of arriving at a value, in U.S. dollars, for imported merchandise. Ad valorem duties are applied on the dollar value. In accordance with the Customs Simplification Act of 1956, the secretary of the......
71. Differential Rate A freight rate derived by compiling existing intermediate rates; this process is used where no through rate exists between the points of origin and destination.......
72. Directional Rate A freight rate reduced for cargo moving in a direction where cargo is light, for the purpose of stimulating movements. Under such circumstances, it is quite possible that the rate for the same product moving in the other direction (where tonnage is heavy) may be significantly higher.......
73. Effective Interest Rate Also known as the real interest rate, the return to capital derived by adjusting the nominal rate of interest for inflation. For example, a bond may bear a nominal rate of interest (the rate that the instrument pays) of 10 percent; by deducting the rate of inflation—say, 4 percent—we derive the ......
74. Effective Lending Rate The actual cost of a loan when such factors as commitment fees and compensating balances are computed on top of the interest rate.......
75. Effective Rate Of Exchange The true cost of acquiring a unit of a given currency in terms of another currency. The effective rate includes taxes and other costs that are factored into the price of the currency converted.......
76. Freight, All Kinds Rate A fixed charge levied by a carrier to ship a container, trailer, car, et cetera, from one point to another, irrespective of the contents. A FAK rate supersedes class or commodity rates. The shipper, in effect, pays a flat charge to move the unit and may ship whatever he wishes up to the rated capaci......
77. 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......
78. Interest Rate Risk The risk borne by the holder of fixed rate securities that interest rates will rise above those paid by his holdings, thereby depriving him of interest that might otherwise have been earned.......
79. Long Rate The rate paid by a bank or foreign exchange broker for long bills of exchange (i.e., those having a tenor of more than thirty days) payable abroad.......
80. Minimum Lending Rate The rate at which the Bank of England lends to members of the discount market against the security of treasury bills or other government paper with less than five years to mature.......
81. Nominal Interest Rate The rate of interest earned by an investment, without adjustment for inflation. Deducting the inflation factor from the nominal rate yields the effective or real interest rate, which is a more accurate reflection of the return on the investment.......
82. Noncontract Rate The freight rate applicable to commodities shipped by a firm that has not executed an exclusive patronage contract (read this and related legal terms for further details).......
83. Paper Rate A rate in a tariff under which no cargo moves.......
84. Predatory Rate An ocean freight rate set intentionally low so as to drive out competition. Soviet flag carriers, animated by motives other than commercial profit, were widely criticized for establishing predatory rates. Certain noncommunist carriers, enjoying heavy state subsidies, were also suspected of setting p......
85. Proportional Rate A freight rate that is constructed by adding separate joint or local rates applying to a through movement. A proportional rate, unlike a Combination rate (read this and related legal terms for further details), is applic......
86. Sight Rate The rate of exchange used by a bank or foreign exchange dealer in purchasing a sight bill of exchange or similar instrument denominated in a foreign currency.......
87. Statutory Rate Of Duty The rate of duty on the given product specified by the Smoot- Hawley Act (read this and related legal terms for further details) of 1930. The rates established by this act are applied to Column 2 countries, i.e., those t......
88. Step-Down Rate A financing agreement in which a lower rate of interest is charged later in the life of the loan than at the beginning.......
89. Tariff Rate A rate for insurance coverage specifically prescribed by local regulation. Usually the rate is higher than might be derived through negotiations with a nonadmitted (read this and related legal terms for further details) ......
90. Time Volume Rate A contract between a shipper of cargo and a steamship line or conference in which the shipper pledges to ship a specific quantity of cargo aboard the carrier's vessels between agreed ports, during a given time period for a fixed sum of money per freight unit.......
91. Variable Rate Loan A loan on which the rate of interest is adjusted periodically in accordance with market rates.......
92. Applied Tariff Rate Applied Tariff Rate and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Applied Tariff Rate: The tariff rate actually used to determine the amount of duty owed on a particular import [...]...
93. Abstention Rate Abstention Rate in Election Law Percentage of voters who did not go to the polls on election day. This percentage is highly important in that it is an indication of the degree of citizens' lack of interest in an election. It may also be an indication of how confident citizens are in the [...]...
94. Exchange Rate Exchange Rate in International Trade Meaning of Exchange Rate, according to the Dictionary of International Trade (Global Negotiator): The price of one currency expressed in terms of another, i.e., the number of units of one currency that may be exchanged for one unit of another currency. [...]...
95. Floating Exchange Rate Floating Exchange Rate in International Trade Meaning of Floating Exchange Rate, according to the Dictionary of International Trade (Global Negotiator): A rate of exchange that is determined by market forces. See also clean float and dirty float. Concept of Floating Exchange Rate An [...]...
96. Freight Rate LCL/fcl in International Trade Meaning of LCL/fcl, according to the Dictionary of International Trade (Global Negotiator): A way of quoting container freight rates in which the carrier agrees to pack the container at the outset (LCL) but unpacking at destination must be carried out by the [...]...
97. General Cargo Rate General Cargo Rate in International Trade Meaning of General Cargo Rate, according to the Dictionary of International Trade (Global Negotiator): The rate a carrier charges for the shipment of cargo that does not have a special class rate or commodity rate....
98. Spot Exchange Rate Spot Exchange Rate in International Trade Meaning of Spot Exchange Rate, according to the Dictionary of International Trade (Global Negotiator): The price of one currency expressed in terms of another currency at a given moment in time....
99. Fixed Exchange Rate Concept of Fixed Exchange Rate An introductory definition of Fixed Exchange Rate is provided here: the rate of exchange of a currency or currency is set by agreement between governments or by government policy (see also gold standard) Resources See Also Foregin Policy Foreign Affairs...
100. Literacy Rate, Adult Adult Literacy Rate (in the Human Development Area) In this context, Adult Literacy Rate means: the proportion of the adult population aged 15 years and older which is literate, expressed as a percentage of the corresponding population, total or for a given sex, in a given country, territory, [...]...
101. Unemployment Rate Unemployment Rate (in the Human Development Area) In this context, Unemployment Rate means: the unemployed divided by the labour force (those employed plus the unemployed)....
102. Internal Rate of Return Literature Review on Internal Rate of Return In the Encyclopedia of Public Administration and Public Policy, [1] William G. Albrecht offers the following summary about the topic of Internal Rate of Return: Internal rate of return (IRR) is one of the several benefit–cost techniques that are [...]...
103. Exchange Rate Mechanism Exchange Rate Mechanism (ERM) and Europe There is an entry on exchange rate mechanism (erm) in the European legal encyclopedia. Resources See Also Further Reading Entry "Exchange Rate Mechanism (ERM)" in the work "A Concise Encyclopedia of the European Union from Aachen to [...]...
104. Wage Rate Resources See Also Further Reading Information related to wage rate in the Max Planck Encyclopedia of International Law(MPEPIL), Germany, United Kingdom...
105. Local Tax Rate Introduction This entry provides an overview of the legal framework of local tax rate, with a description of the most significant features of local tax rate at international level. Related Work and Conclusions Resources See Also References (Papers) The Contemporary Tax Journal'S Interview [...]...
106. Training Participation Rate Resources See Also Legal Education Education Education Law Higher Education Vocational Training Training...
107. Interest Rate Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...
108. Birth Rate Resources See Also Population Population Planning Population Dynamics Population Structure...
109. Earnings Replacement Rate Resources See Also Disability Insurance Social Security Administration Social Security Statement Social Security Benefits...
110. Highest Original Statutory Rate A provision contained in General Headnote 10(d) of the Tariff Schedules that stipulates that in any case where two or more tariff classifications could be applied equally to an imported product, the classification having the highest original statutory rate (Column 2) shall be imposed, even though a ......
111. Through Rate A freight rate that is the total rate from origin to destination; in some cases, surcharges may be applicable to the basic freight, and are additional to the through rate.......
112. Any Quantity Rate A freight rate applicable to a specific commodity irrespective of the quantity shipped, without provision for quantity discounts.......
113. Block Rate A reduced rail freight rate levied on movements of ten or more cars at one time from one shipper to a simple consignor.......
114. 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......
115. Cross Rate The ratio between the exchange rate of two currencies in relation to a third currency.......
116. Discount Rate Also known as the re-discount rate, the rate of interest charged by the Federal Reserve to member banks for advances. The rates are set every fourteen days by the regional Federal Reserve banks upon approval of the Board of Governors of the Federal Reserve system.The discount rate is a p......
117. Effective Rate of Protection The net protection afforded by a nation's tariff system to any given domestic product. For example, the higher the rate of duty, the greater the protection against foreign imports; conversely, as rates are increased on raw materials or production inputs, the costs of domestic production are [...]...
118. Extraction Rate The proportion, on a weight basis, between a finished or processed product and the raw materials from which it was manufactured.......
119. Joint Rate Summary of Joint Rate A single factor rate applicable to the movement of goods through two or more carriers.(Main Author: William J. Miller) Resources See Also Joint through rate Rate...
120. Lombard Rate The interest rate charged West German commercial banks on loans from the central bank using securities as collateral.......