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. Usance Bill Also known as a term bill, a bill of exchange (read here for further details) that affords a term of credit to the party accepting the bill (e.g., thirty days' sight, sixty days date). In effect, a usance bill is any bill other than one ......
3. Time Bill Of Exchange A bill of exchange (read here for further details) payable other than "at sight," i.e., immediately upon presentation. Bills drawn at sixty days' sight or thirty days date, for example, are time bills.......
4. Clean Bill of Exchange Any bill of exchange (read here for further details) not accompanied by documents, such as invoices, bills of lading, et cetera. See direct collection.......
5. Dollar Bill Of Exchange Synonymous with Dollar Exchange (read this and related legal terms for further details).......
6. 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 [...]...
7. 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......
8. Eurobill Of Exchange A bill of exchange (read here for further details) drawn in a currency other than that used in the country of the maker.......
9. Hypothecation Certificate Also known as a letter of hypothecation, a document attached to a bill of exchange (read here for further details) that arises from a shipment of merchandise. The hypothecation certificate empowers the bank presenting the bill or any subsequ......
10. Loading Summary of Loading A risk premium in addition to interest charges and acceptance fees deducted by a bank or discount house from the face value of a bill of exchange (read here for further details) presented for discounting. This additional margin will vary, depending upon the quality of the [...]...
11. Multiple Currency System Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
12. 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 (...
13. 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......
14. 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 [...]...
15. 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 ......
16. 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 [...]...
17. Foreign Bill Of Exchange A bill of exchange (read here for further details) drawn in one state or country and payable in another.......
18. Prime Bill Of Exchange A bill of exchange (read here for further details) that states on its face that it arises from the sale of goods.......
19. 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......
20. 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 [...]...
21. 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.......
22. Bank Acceptance Bank Acceptance in International Trade Meaning of Bank Acceptance, according to the Dictionary of International Trade (Global Negotiator): A draft accepted by a bank usually for the purpose of financing the sale of goods to or by the bank's customer. The bill may be drawn , for example, by [...]...
23. 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......
24. 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......
25. Credit Currency Synonymous with Fiduciary Currency (read this and related legal terms for further details).......
26. Freight-Allowed Pricing Synonymous with zone-delivered pricing (read this and related legal terms for further details).......
27. 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).......
28. 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......
29. 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.......
30. Railroad Through Bill Of Lading An export Bill of Lading (read this and related legal terms for further details), issued by a railroad, covering shipment overseas of merchandise by combined rail/water service under a through rate. The bill of lading ma......
31. Short Form Bill Of Lading A bill of lading (read this and related legal terms for further details) that, unlike the conventional, or long form, document, does not include the full terms and conditions of transport but only refers to them.......
32. 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......
33. Letter Of Exchange An infrequently used synonym for bill of exchange (read here for further details).......
34. 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......
35. Sterling Bill A bill of exchange (read here for further details) denominated in pounds sterling.......
36. 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 [...]...
37. 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......
38. Freight Broker Synonymous with Cargo Broker (read this and related legal terms for further details), in vessel charter transactions.......
39. Wire Fate Item A bill of exchange (read this legal term for further details) or other collection item sent with instructions to the collecting bank to wire acknowledgment of acceptance/collection or dishonor of the instrument.......
40. Eurco A commercial version of the European Currency Unit (read this and related legal terms for further details). In order to stimulate interest in the European currency unit (ECU), in 1973 the European Investment Bank introdu......
41. Re-Draft A bill of exchange (read here for further details) drawn by a holder of a dishonored draft to recover the face amount of the original instrument, plus protest fees and any exchange loss. The substitute bill may be drawn upon either the maker......
42. Superimposed Clause A notation on the face of a Bill Of lading (read this and related legal terms for further details) that indicates a defect in the cargo or its mode of transport. Such notations include "received in damaged condition......
43. Bill of Exchange Bill of Exchange in International Trade Meaning of Bill of Exchange, according to the Dictionary of International Trade (Global Negotiator): An unconditional order in writing, signed by a creditor (drawer) such as a buyer, and addressed to another person (drawee), typically a bank, ordering [...]...
44. 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 (...
45. Optional Bill Of Lading An ocean bill of Lading (read this and related legal terms for further details) that gives the carrier the prerogative of stowing the cargo anywhere aboard the vessel at his convenience; the effect is to permit cargoes s......
46. Commercial Bill A bill of exchange (read here for further details) that arises out of a transaction involving the sale of goods.......
47. Multiple Exchange Rates Synonymous with Differential Exchange Rates (read this and related legal terms for further details).......
48. Bancor A proposed exchange to be issued by the INTERNATIONAL CLEARING UNION (read this and related legal terms for further details) operating essentially as a world central bank. The original plan was significantly modified and......
49. Usance The time allowed for settlement of a bill of exchange (read here for further details), as established by custom of the particular trade or usage.......
50. 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 [...]...
51. 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......
52. 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......
53. Cross Bill Synonymous with re-draft (read this and related legal terms for further details).......
54. Dfc Currency Basket Scheme A mechanism of the World Bank and related agencies whereby loans to development finance companies (DFCs) would be made in a basket of currencies so as to mitigate the effects of exchange rate fluctuations. From 1980, the World Bank has made certain development loans in a mixture of U.S. dollars (usu......
55. 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......
56. European Monetary System Summary of European Monetary System A mechanism established by the European Communities to mitigate exchange rate fluctuations among the members and establish a zone of "monetary stability in Europe."The EMS is, in part, a fulfillment of the 1970 Werner Report (read this and [...]...
57. 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.......
58. Documents Against Acceptance Bill Of Exchange, Direct Collection.......
59. Sight Bill A bill of exchange (read here for further details), payable at sight, i.e., upon presentation.......
60. Sight Draft Endorsement A provision in a contract of marine insurance designed to protect an exporter while his merchandise lies in a foreign port awaiting acceptance (read this and related legal terms for further details) of drafts by the impo......
61. Sight Credit A letter of credit (read this and related legal terms for further details) under which sight drafts shall be drawn.......
62. After Sight Definition of After Sight in International Trade The following is a concept of After Sight in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): In banking, a notation on a draft that indicates that the payment is due a fixed number of days [...]...
63. At Sight Definition of At Sight (as) in International Trade The following is a concept of At Sight (as) in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): Term indicating that whatever action it pertains to must be undertaken immediately. This [...]...
64. Days After Sight (D/S) Days After Sight in International Trade Meaning of Days After Sight, according to the Dictionary of International Trade (Global Negotiator): Payment term often used in conjunction with bank drafts and documentary credit....
65. Payment at Sight Payment at Sight in International Trade Meaning of Payment at Sight, according to the Dictionary of International Trade (Global Negotiator): Payment terms used in bank collections that require the drawee to pay before receiving certain documents. Typically, the drawer will send these documents [...]...
66. Bank Rate The rate at which the Bank of England and the Bank of Canada lend to commercial banks.......
67. 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......
68. 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......
69. 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.......
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. Real Interest Rate Synonymous with effective interest Rate (read this and related legal terms for further details).......
72. 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.......
73. 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) ......
74. 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....
75. Tax Rate Other Popular Tax Definitions in the World Legal Encyclopedia Adjusted Gross Income (sometimes, including Tax Rate) Ad......
76. Rate Spanish Translation of tariff and rateThis is the legal translation of English to Spanish in relation to tariff or rate and / or a definition of this topic: Tarifa (in Spanish, without translation of the dictionary entry)....
77. 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 ......
78. 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.......
79. 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.......
80. Combination Rate An inland freight rate from point of origin to destination derived by adding two or more intermediate rates.......
81. 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 (...
82. 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.......
83. 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.......
84. 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......
85. 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 ......
86. 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.......
87. 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.......
88. 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......
89. 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......
90. 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.......
91. 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.......
92. 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.......
93. 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).......
94. Paper Rate A rate in a tariff under which no cargo moves.......
95. 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......
96. 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......
97. 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......
98. 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......
99. 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.......
100. Royalty Rate The return that a firm receives from granting license for the use of its processes, trademarks, et cetera, to another firm.......
101. 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......
102. Step-Up Rate A financing arrangement in which a higher rate of interest is charged later in the life of the loan than at the beginning.......
103. 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.......
104. Variable Rate Loan A loan on which the rate of interest is adjusted periodically in accordance with market rates.......
105. Rate Schedule Other Popular Tax Definitions in the World Legal Encyclopedia Adjusted Gross Income (sometimes, including Rate Schedule) ...
106. 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. [...]...
107. 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 [...]...
108. 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....
109. Spot Rate Spot Rate in International Trade Meaning of Spot Rate, according to the Dictionary of International Trade (Global Negotiator): Rate of exchange quoted for purchases and sales of a foreign currency for immediate delivery and payment....
110. 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...
111. 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, [...]...
112. 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 [...]...
113. Wage Rate Resources See Also Further Reading Information related to wage rate in the Max Planck Encyclopedia of International Law(MPEPIL), Germany, United Kingdom...
114. 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 [...]...
115. Training Participation Rate Resources See Also Legal Education Education Education Law Higher Education Vocational Training Training...
116. Interest Rate Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...
117. Birth Rate Resources See Also Population Population Planning Population Dynamics Population Structure...
118. Earnings Replacement Rate Resources See Also Disability Insurance Social Security Administration Social Security Statement Social Security Benefits...
119. 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 ......
120. 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.......