Related Entries of the International Encyclopedia:

1. 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 ......
2. Futures Contract Futures Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Futures Contract: A contract for goods, foreign exchange, or financial assets to be delivered at a certain future date on terms and at [...]...
3. Barter Summary of Barter A direct exchange of products without cash. In some cases, a third party is brought into the transaction to dispose of some or all of the goods in a third country; this practice is known as switch trading. See Countertrade.(Main Author: William J. Miller) Barter [...]...
4. Forward Margin In foreign exchange transactions, the difference between the current, or "spot," price for a given currency and the price at some future date. If the "futures" price, that quoted by sellers of contracts for future purchase of that currency, is higher than the spot price, the subj......
5. 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......
6. 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......
7. 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 [...]...
8. 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......
9. Trade Barrier Summary of Trade Barrier Constraints upon the exchange of goods among nations imposed by governments; such constraints are manifested in the form of tariffs, quotas, exchange controls, and a variety of so-called nontariff barriers. Barriers usually arise to protect domestic industries, [...]...
10. 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......
11. Import Substitution Summary of Import Substitution The act of eliminating imports of a given product by commencing production locally, often accompanied by controls such as increased duties, quotas, or outright bans to discourage or prevent continued foreign imports. This approach is fairly common on the part [...]...
12. 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).......
13. Destination Clause A provision in a contract for the purchase of a commodity specifying the countries to which the product may be shipped, thereby preventing sale in the world market which would affect the spot price. This type of arrangement is common in the petroleum industry.......
14. 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.......
15. 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 [...]...
16. 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.......
17. Purchase Price Defined in 19 U.S.C. 162 as the price at which imported merchandise has been purchased, or will be purchased, prior to exportation. It is usually based on the ex factory price excluding any export duties levied in the country of manufacture. Within the framework of the European Economic Community......
18. 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......
19. Buffer Stocks Buffer Stocks and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Buffer Stocks: Commodity stocks managed by countries or international organizations to moderate market price fluctuations. When prices rise [...]...
20. 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......
21. 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 (...
22. 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): [...]...
23. 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 [...]...
24. 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 [...]...
25. 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......
26. C.I.F. Contract Definition of C.I.F. ContractIn accordance with the work A Dictionary of Law, this is a description of C.I.F. Contract : C.I.F. contract (cost. insurance. freight contract) A type of contract for the international sale of goods by which the seller agrees not only to supply the goods but also to [...]...
27. 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 [...]...
28. Administered Pricing A condition in which the prices of certain goods and/or services are determined by governmental authority, supplier cartels (legal or illegal), or trade associations, and not by market forces. The purpose of administered pricing is to eliminate price competition or to maintain price stability [...]...
29. Dumping Margin In those instances where a product has been dumped, that is, sold abroad at a price below the fair market value in the country of origin, the dumping margin is the difference between the home market price and the price at which the goods are sold abroad less incidental charges, such as export [...]...
30. 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......
31. Common Unit of Exchange Concept of Common Unit of Exchange An introductory definition of Common Unit of Exchange is provided here: a currency in which international economic exchanges are valued Resources See Also Foregin Policy Foreign Affairs...
32. Future Contract Future Contract in International Trade Meaning of Future Contract, according to the Dictionary of International Trade (Global Negotiator): A contract for the future of delivery of a commodity, currency or security on a specific date. Currency future contracts are for standard quantities over [...]...
33. Pre-shipment Inspection Pre-shipment Inspection (PSI) in International Trade Meaning of Pre-shipment Inspection (PSI), according to the Dictionary of International Trade (Global Negotiator): An inspection of contract goods prior to shipment so as to ascertain their quality, quantity or price. Importers may insist on [...]...
34. 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).......
35. Terms of Trade Summary of Terms of Trade An export-import price ratio derived by dividing indices of export prices by indices of import prices. For example, when export indices are 105 percent of a base period, and import indices are 98 percent of the same base period, then the terms of trade [...]...
36. Consignment Contract Consignment Contract in International Trade Meaning of Consignment Contract, according to the Dictionary of International Trade (Global Negotiator): A contract by which a seller (consignor) delivers goods to an individual or entity (consignee) that will sell them. For goods sold, the consignee [...]...
37. Economic Integration Summary of Economic Integration The process of unifying two or more national economies through conscious coordination of trade, fiscal, and monetary activities. Economic integration is normally preceded by the reduction or abolition of tariffs, quotas, and similar constraints upon trade [...]...
38. Open-end Contract Open-end Contract in International Trade Meaning of Open-end Contract, according to the Dictionary of International Trade (Global Negotiator): A contract by which the buyer may purchase the seller's goods at any time within a specified period without changes in the price or other contract terms....
39. Basis Summary of Basis As used in commodities trading, either: 1) the difference between the spot price and the futures price, or 2) the difference between the cash market price at a given geographic point and the cash market price at a current delivery point, i.e., a point where there is active [...]...
40. 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 [...]...
41. 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 [...]...
42. 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......
43. Dumping Dumping in International Trade Meaning of Dumping, according to the Dictionary of International Trade (Global Negotiator): The practice of selling a product in a foreign market at an unfairly low price (a price that is lower than the cost in the home market, or which is lower than the cost of [...]...
44. 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 [...]...
45. Protectionism Protectionism Definition Protectionism may be defined as government policies that favor domestic products over imported goods. The debate between protectionism and free trade has been a continuing issue in United States politics. Meanings For information on: * systematic protectionism [...]...
46. 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 [...]...
47. Cartel Summary of Cartel An alliance among firms in the same line of business aimed at controlling or dominating their field on an international basis.(Main Author: William J. Miller) Definition of Cartel In accordance with the work A Dictionary of Law, this is a description of Cartel : [...]...
48. Import Contract Import Contract in International Trade Meaning of Import Contract, according to the Dictionary of International Trade (Global Negotiator): The import contract is suitable when a company is buying goods from abroad by way of import in the course of a business to business transaction. The [...]...
49. 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 [...]...
50. Cash Price The same as SPOT price (read this and related legal terms for further details), as used in grain transactions.......
51. 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.......
52. Comparative Advantage Revealed Comparative Advantage and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Revealed Comparative Advantage: A measure of relative competitive performance of a country's exporters of a particular [...]...
53. Variable Levy Variable Levy and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Variable Levy: An import duty that is subject to alteration as world market prices change, designed to ensure that the [...]...
54. 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......
55. 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. ......
56. Spot In foreign exchange and commodities markets, the current price for a given commodity or currency; the spot price is contrasted with the futures price, which is the price that is offered for delivery at some specified time in the future.......
57. Spot Charter A vessel that is prepared to commence loading immediately upon fixing of the charter. As a practical matter, spot charters arise only in relation to vessels already in port but not otherwise occupied.......
58. Spot Cash Spot Cash in International Trade Meaning of Spot Cash, according to the Dictionary of International Trade (Global Negotiator): Immediate cash payment in a transaction, as opposed to payment at some future time....
59. Spot Exchange Spot Exchange in International Trade Meaning of Spot Exchange, according to the Dictionary of International Trade (Global Negotiator): The purchase and sale of foreign exchange for delivery and payment at the time of the transaction....
60. 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....
61. Spot Zoning Real Estate meaning of Spot ZoningIn the words of the Encyclopedia of Real Estate Terms about Spot Zoning: (United States)The zoning of a small area of land, or one or more properties, for a use that is not in harmony with the normal zoning plan for the area, especially if a small area is [...]...
62. Spot Option Spanish Translation of spot optionThis is the legal translation of English to Spanish in relation to spot option and / or a definition of this topic: Opción Americana (in Spanish, without translation of the dictionary entry)....
63. 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....
64. 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 [...]...
65. 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 [...]...
66. Open Market Operations A principal vehicle of the Federal Reserve system in expanding or contracting bank reserves. The Federal Open Market Committee, consisting of the entire Board of Governors of the Federal Reserve system, plus representatives of five of the twelve regional Federal Reserve banks (the New York Federal R......
67. 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 (...
68. 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.......
69. 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......
70. Market Access Summary of Market Access The degree of participation in the domestic market that a nation allows to foreign suppliers. Tariffs, quotas, and similar protective devices are devices imposed to limit market access. (Main Author: William J. Miller) Market Access and National Treatment in the [...]...
71. Market Disruption A condition in which foreign imports of a given product increase in quantity so rapidly as to cause, or threaten to cause, material injury to a competing domestic industry. A finding of market disruption before the International Trade Commission may result in retaliatory actions against the [...]...
72. Primary Market A spot commodity market dealing in a local producing area. Ordinarily such markets develop around local transportation centers.......
73. Grey Market Grey Market in International Trade Meaning of Grey Market, according to the Dictionary of International Trade (Global Negotiator): A situation that consists of unauthorized traders buying and selling a company's product in different countries. Companies confronted with a grey situation can [...]...
74. Andean Common Market Considered in Andean Group.......
75. Carribbean Community And Common Market Commonly known as Caricom, the successor organization to the defunct Caribbean Free Trade Association (Carifta). The object of CARICOM was to stimulate regional development through the adoption of a common external tariff and uniform protectionist measures, harmonization of fiscal affairs, and conce......
76. Central American Common Market Summary of Central American Common Market A free trade area among the nations of Central America, established in 1960 by a treaty between El Salvador, Guatemala, Honduras, and Nicaragua. The common market began operations in 1961, and Costa Rica joined the group in 1962. Honduras dropped [...]...
77. European Common Market European Common MarketCross-reference: European Economic Community and European Union.......
78. 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......
79. London Discount Market The group of London discount houses that make a market for short-term government and commercial paper. The discount market is financed by secured loans from the London clearing banks.......
80. Market-Oriented Distribution Center A product distribution center located close to the point of consumption rather than the point of manufacture. For example, an American manufacturer of a product sold in Europe might supply European customers from a (market-oriented) distribution center in Rotterdam, rather than directly from the U.S......
81. Arab Common Market Arab Common Market Outline The ACM came into existence in 1965, pursuant to an agreement signed in 1964 by the Arab League states. Its initial members included Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Palestine Liberation Organisation, Somalia, Sudan, Syria, United Arab Emirates, Yeme......
82. Southern Common Market Southern Common Market in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Southern Common Market: Mercado Common del Sur (MERCOSUR) or Mercado Comum do Sui (MERCOSUL). A common market including Argentina, [...]...
83. Market Access Data Base Market Access Data Base in International Trade Meaning of Market Access Data Base, according to the Dictionary of International Trade (Global Negotiator): Database of the European Union with comprehensive information about tariffs in all countries of the world to European products and [...]...
84. Social Market Economy Social Market Economy and Europe There is an entry on social market economy in the European legal encyclopedia. Resources See Also Further Reading Entry "Social Market Economy" in the work "A Concise Encyclopedia of the European Union from Aachen to Zollverein", by Rodney [...]...
85. Standards for Market Actors This section provides an overview of standards for market actors within the legal context of Financial Regulation in international economic law, with coverage of Monetary and Financial Regulation (Main Regulatory Areas). Resources Further Reading Rashid Bahar, "Standards for Market [...]...
86. Single European Market Resources See Also International Organization Foreign Relations Intergovernmental Organization Regional Organization Regional Integration...
87. European Internal Market Resources See Also International Trade Trade Regulation International Economic Law Export License International Trade Law Foreign Trade Safeguard...
88. Market Market Reserve Policies and International Trade Resources See Also Economy Economic System Legal System Capitalism Resources See Also Law of Similars...
89. Market Value Embracing mainstream international law, this section on market value explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "market value" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the [...]...
90. At the Market Resources See Also Market order...
91. Market-Inalienability ContentsMarket-InalienabilityConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Market-Inalienability   Margaret Jane Radin   Things that ... Read more...
92. Black Market Black Market Definition Black Market is the term designating the illicit sale of commodities in violation of government rationing and price-fixing. The term originated in Europe during World War I, when the introduction of rationing in belligerent countries tempted some persons with access [...]...
93. Central Market A spot commodity market that serves as a national or regional center of trading activity, and often large-scale distribution of the products as well. Transactions are usually performed by dealers who serve as intermediary brokers between buyers and sellers.......
94. Bonds Market Bonds in this SectionBondHow Bonds WorkTypes of BondsIssu......
95. Market Failure Market Imperfections or Market Failure and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Imperfections or Market Failure: Often refers to two sources of departure from perfect competition, i.e., [...]...
96. 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 [...]...
97. Market Performance Market Performance and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Performance: The principal focus of competition policy, market performance refers to the degree to which a particular industry or [...]...
98. Market Risk Market Risk in International Trade Meaning of Market Risk, according to the Dictionary of International Trade (Global Negotiator): The possibility that results at the time a product is delivered may differ from expectations held at a time it was ordered. For instance, the market price may have [...]...
99. Internal Market Meaning of Internal market Here is a very short concept of internal market in the European Union framework: Another term for the single market; also known as the common market, although that expression has wider connotations. Resources Notas y References See Also...
100. Over-the-counter Market Resources See Also NASD NASDAQ...
101. Actual Market Value Resources See Also Market volume...
102. Cornering the Market Resources See Also Corner...
103. Clear Market Value Resources See Also Fair market value...
104. Current Market Value Resources See Also Fair market value...
105. Agricultural Market Resources See Also Farming Farm Bill Agricultural Law Agriculture Reform Agriculture...
106. Market Economy Resources See Also Economy Economic System Legal System Capitalism...
107. Capital Market Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...
108. Labor Market Resources See Also Labor Employment Law International Labor Law Industrial Safety Labour Labor Right Labor Policy...
109. Market Research Resources See Also Price Policy Price Control Pricing Strategy Dumping...
110. Commodity Market Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
111. Domestic Market Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
112. Financial Market Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
113. International Market Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
114. Market Planning Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
115. Market Stabilization Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
116. Market Study Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
117. Market Definition Resources See Also Business Law Antitrust Laws...
118. Foreign Market Price For purposes of customs valuation comparisons, generally the price of like merchandise sold for consumption in the country of origin.......
119. Open Market Captive See Captive Insurance Company.......
120. Caribbean Community and Common Market Caribbean Community and Common Market (CARICOM), organization established in 1973 to promote regional unity and to coordinate economic and foreign policy among Caribbean nations. Member countries include Antigua and Barbuda, Barbados, Belize, Dominica, G......