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1. 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......
2. Common Financing A feature of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
3. Common Pricing A feature of the COMMON AGRICULTURAL policy (read this and related legal terms for further details) of the European Economic Community.......
4. 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 [...]...
5. 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 [...]...
6. Restitutions Export and producer subsidies granted by the European Economic Community to EEC farmers and processors. The subsidies are a feature of the Common Agricultural Policy (read this and related legal terms for further details......
7. Buyer's Premium A subsidy offered by a member state of the European Economic Community to domestic tobacco processors to encourage the use of EEC, rather than imported, tobaccos. The program, which is a feature of the common AGRICULTURAL POLICY (...
8. Financial Solidarity A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
9. Gold Sterilization A governmental policy to prevent the expansion of a nation's money supply by preventing the accumulation of gold. In the case of a nation on the Gold Standard (read this and related legal terms for further details), ......
10. Variable Import Levy A duty applicable to imports of certain significant agricultural commodities into the European Economic Community. The Common Agricultural Policy (read this and related legal terms for further details). of the EEC specif......
11. London Gold Pool An arrangement among certain European central banks and the Federal Reserve Bank of New York designed to maintain stability in the market price of gold in private transactions. The United States had been committed to buy and sell gold in official transactions at thirty-five dollars per ounce; a priv......
12. Gold Tranche Position A drawing of foreign exchange from the international monetary FUND (read this and related legal terms for further details), by a member nation up to or equal with that country's gold on deposit with the IMF. In effec......
13. Snake A medium for the stabilization of the exchange rates of European currencies. In October 1970 the Werner Plan addressed the adoption of a common European currency as a vehicle for the full economic and political integration of Europe. The demise of the bretton woods agreement (...
14. Community Preference Summary of Community Preference A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Community Preference and Europe There is an entry on community [...]...
15. Paper Gold A common reference to Special Drawing Rights (read this and related legal terms for further details) issued by the International Monetary Fund.......
16. Intervention Summary of Intervention A process within the framework of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community whereby the EEC will purchase certain commodities currently selling below a stipulated target price. The price [...]...
17. Monetary Compensatory Amounts Settlements between member states of the European Economic Community to reflect the market rate of currencies used in agricultural transactions and the periodically revised Green Rate (read this and related legal terms for f......
18. 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......
19. Sale At Less Than Fair Value The sale of merchandise to a foreign purchaser at a price below the price that would be charged for a like sale in the home market. Such sales may serve as the basis for an allegation of Dumping (read this and related legal ......
20. Chicken War A protracted dispute between the United States and the European Economic Community arising from the adoption of Europe's COMMON AGRICULTURAL POLICY (read this and related legal terms for further details) on chicken i......
21. Additional Product Aid A feature of the Common Agricultural Policy of the European Economic Community, which provides price supports to EEC producers affected by import competition. The "community preference" mechanism of the CAP eliminates external competition for most items but does not respond for certain pro......
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. European Economic Community Summary of European Economic Community One of the three components of the European Communities. In March 1957, the members of the European Coal and Steel Community (France, Federal Republic of Germany, Italy, and the Benelux countries) expanded the sphere of economic cooperation through the [...]...
24. International Reserves Gold, hard currencies, and special drawing rights (read this and related legal terms for further details) issued by the international monetary fund (...
25. Werner Report A report on the subject of European integration, prepared by a committee under the leadership of Pierre Werner, prime minister of Luxembourg. The report, published in October 1970, urged full economic and monetary union within the European Economic Community as "a catalyst for the development o......
26. Super Gold Tranche A condition in which drawings by a member of the international Monetary Fund (read this and related legal terms for further details) cause fund holdings of the member's currency to fall below 75 percent of the member......
27. Montant De Soutien A plan devised by the European Economic Community in 1963 as the basis of agricultural trade negotiations during the Kennedy round. The plan is predicated upon a reference price for a given agricultural commodity; any imports below the reference price would incur a levy equal to the spread between t......
28. Dillon Round A series of multinational trade discussions conducted during 1960-1962 under the sponsorship of the general agreement of tariffs and Trade (read this and related legal terms for further details). The principal result of ......
29. European Monetary Cooperation Fund The successor to the European payments Union (read this and related legal terms for further details), the EMCF was established by the European Monetary Agreement of 1958 as a vehicle to enhance monetary cooperation among......
30. 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......
31. Familiar Drawing Techniques process within the international monetary FUND (read this and related legal terms for further details) whereby a member nation suffering balance of payments problems may obtain foreign currencies from the IMF in exchange......
32. East- West Trade A general reference to trade between the industrial nations of the West, particularly those nations that are members of the Organization for Economic Cooperation and Development ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
33. Ocean Freight Differential A sum rep resenting the difference in freight costs associated with moving subsidized agricultural exports on American rather than cheaper foreign vessels. The differential is provided for shipments under the Agricultural Trade Development And Assistance Act (...
34. Ordinary Course Of Trade A concept routinely applied in customs valuation that holds that the dutiable value of goods is the price at which they would normally sell if customary channels of distribution were observed. For example, where it was industry practice for a product to be sold directly by a manufacturer to an end u......
35. Safeguard Measures Actions taken by a nation to protect its domestic industry and commerce from what it views as unfair or improper practices by a trading partner. For example, a trading partner's use of improper subsidies designed to artificially stimulate exports might result in such safeguard measures as the im......
36. 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 [...]...
37. First Englargement The addition of Great Britain, Ireland, and Denmark in 1972 to the original six members (France, Federal Republic of Germany, Italy, Belgium, Netherlands, Luxembourg) of the European Economic Community (read this and related......
38. Switching Also known as switch trading, a Countertrade (read this and related legal terms for further details) arrangement under which a purchaser in one country assigns to a seller in another country an obligation due from a thir......
39. Reconstitution A regulation of the International Monetary Fund (read this and related legal terms for further details) relating to the use of Special Drawing Rights (...
40. Cooley Loans Foreign-currency-denominated loans by the U.S. government to foreign nations to permit the purchase of American agricultural commodities. The loans are authorized by an amendment to the Agricultural Trade Development and Assistance Act (...
41. Schuman Plan Summary of Schuman Plan A series of proposals for the pooling of European coal and steel resources as a vehicle for European economic recovery and integration, advanced by Robert Schuman of France in 1950. Schuman's plan was accepted by the governments of Belgium, Luxembourg, the [...]...
42. Trade Agreements Act Of 1962 An act that authorized the president, during the period of July 1, 1962, through June 30, 1967, to reduce or eliminate certain tariffs in return for similar concessions on the part of other trading nations. The act was largely in response to the elimination of internal duties by members of the Europ......
43. Agricultural Policy Common Agricultural Policy (CAP) and Europe There is an entry on common agricultural policy (cap) in the European legal encyclopedia. Resources See Also Government Government Contract Local Government Public Administration Administrative Law Public Law Resources See Also Further Reading [...]...
44. Basel Agreement An agreement, concluded April 24, 1972, among members of the European Economic Community for the purpose of narrowing the margins of fluctuation among community currencies. Participants in the agreement were Belgium, Germany, France, Luxembourg, Italy, and the Netherlands. The agreement served as th......
45. European Agricultural Guidance And Guarantee Fund Common Agricultrural Policy is considered here.......
46. Fecom The French acronym for the European Monetary Cooperation Fund. (read this and related legal terms for further details).......
47. 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 (...
48. 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.......
49. 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 (...
50. Tramp A vessel that offers nonscheduled service between such ports as afford cargoes of opportunity. Unlike a Liner (read this and related legal terms for further details), a tramp seeks to acquire a full load from one shipper......
51. Two-Tier Gold Mart A system under which gold is traded at two distinct prices. A fixed price is set for transactions among governments, while a market price (subject to the supply and demand mechanism) is established for public-sector transactions. This system was reestablished in the United States in 1968. In those c......
52. 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......
53. Triffin Plan A proposal advanced by Professor Robert Triffin to establish a system for the settlement of international accounts. Originally articulated in Gold and the Dollar Crisis (1960), the Triffin Plan urged the creation of an international reserve asset to be used only for international account settlement.......
54. Standard Bullion Gold or silver in bars of the same composition as gold or silver coins. Since gold and silver coins consist of 90 precent precious metal and 10 percent base metal (usually copper), standard bullion would consist of a like mixture of precious and base metals. In effect, the bullion is suitable for im......
55. Standard Money Units of exchange created by lawful authority, i.e., legal tender.......
56. Standard International Trade Classification A system for capture of international trade statistics developed under the auspices of the United Nations. The original SITC was adopted by the Economic and Social Council of the United Nations in July 1950. By 1960 many nations were compiling data on a commodity basis; coincidental with the [...]...
57. Standard Doctrine, Standard From the book The Clergyman's Hand-book of Law, about Doctrine, Standard (1): To ascertain the tenets and doctrines of a church, resort must be had to history and to prior and contemporary standard writings of its members on theology.31 Resources Notes and References [...]...
58. Single Standard A condition in which a nation endows a single metal as the basis of the monetary stock. This system is also known as monometallism. As a practical matter, virtually all commercial nations use gold as the standard.......
59. Standard Industrial Classification SIC (Standard Industrial Classification) and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of SIC (Standard Industrial Classification): The basic system used by the US Commerce Department to categorize similar [...]...
60. Standard Shipping Note Standard Shipping Note (SSN) in International Trade Meaning of Standard Shipping Note (SSN), according to the Dictionary of International Trade (Global Negotiator): It is the receiving document for ports and containers bases around the world, and advises of the necessary information to process [...]...
61. Standard of Living Standard of Living (in the Human Development Area) In this context, Standard of Living means: integrated index of socio-economic development, measured by aggregate data such as real per capita income, poverty rate, access to health care, the uneven growth of incomes, standards of education, [...]...
62. Standard of Review This section provides an overview of standard of review within the legal context of National Treatment in international economic law, with coverage of Non-Discrimination in Trade of Goods and Services (Principles). Resources Further Reading Petros C Mavroidis, "Standard of Review," [...]...
63. Standard-Setting Organizations Standard-Setting Organizations in International Economic Law In international economic law, standard-setting organizations includes the following legal areas, with coverage in this world legal encyclopedia: li> International Standards Organization (ISO) International Electrotechnical [...]...
64. Standard Performance Resources See Also Contract Contracting Novation Contract Dispute...
65. Standard Metropolitan Statistical Area Introduction to Standard Metropolitan Statistical AreaStandard Metropolitan Statistical Area (SMSA), term previously used in U.S. government statistical compilations. It referred to a county or group of adjoining counties (except in New England) that contained at least one urbanized area of......
66. Standard Oil Company Tankers Case Embracing mainstream international law, this section on standard oil company tankers case explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "standard oil company tankers case" in the Parry and Grant Encyclopaedic [...]...
67. Adjusted Cif Price A factor in determining the variable import levy imposed by the European Economic Community on grain imports. The adjusted C.I.F. (cost, insurance, and freight) price is derived by assigning a quality factor to grain imported from non-EEC countries so as to put the import on a quality basis comparab......
68. 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......
69. 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......
70. 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......
71. 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).......
72. 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 (...
73. 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......
74. 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......
75. 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......
76. 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. ......
77. Target Price An important concept within the common agricultural policy (read this and related legal terms for further details) of the European Economic Community. It represents an optimum wholesale price within the community for a g......
78. Threshold Price A minimum import price for commodities established under the common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community, set so as not to hamper sales of EEC pro......
79. Withdrawal Price A floor price at which European Economic Community producers of certain food products may withhold their goods from the market. The withdrawal price is generally below the base price (i.e., the target price set for a given commodity) and the purchase price at which EEC governments will intervene in ......
80. Strike Price Strike Price in International Trade Meaning of Strike Price, according to the Dictionary of International Trade (Global Negotiator): Price at which the option buyer obtains the right to purchase (call option) or sell (put option) the underlying security or currency....
81. 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).......
82. Double Standard A program of precious metal coinage in which the nation employs two standards of value, usually gold and silver, each having a fixed ratio of value (the mint ratio). Under this system, either metal, in coined form, stands as legal tender. The double standard differs from bimetallism, with which it i......
83. Fiat Standard A monetary system in which the money in circulation is not redeemable in any other form of money (e.g., gold) but has value simply by virtue of its issuance by governmental authority.......
84. Fiduciary Standard Synonymous with FIDUCIARY CURRENCY (read this and related legal terms for further details).......
85. Gma Standard Pallet A widely used variety of wooden pallet adopted in the 1960s by the Grocery Manufacturers of America to overcome logistical problems associated with a lack of uniformity of pallet sizes. The GMA pallet measures forty-eight by forty inches and permits four-way entry.......
86. Gold Bullion Standard A monetary policy that permits redemption of currencies into gold, but only for significant amounts. Under a true gold standard, all currency is redeemable into gold on demand; under a gold bullion standard, gold might be redeemable only in minimum lots of one ingot.......
87. 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 [...]...
88. Qparallel Standard A system under which a nation coins at least two metals, usually gold and silver, without establishing an exchange ratio between the metals. See bimetallism, mint par of Exchange.......
89. International Gold Bullion Standard A Gold Bullion standard (read this and related legal terms for further details) that permits redemption of currency into gold only for purposes of export.......
90. Arm's Length Price The price at which a given commodity would sell in a sale between an unrelated buyer and seller. Arm's length pricing is the functional opposite of transfer pricing, in which the buyer and seller are related and the price is influenced by that relationship.......
91. Cash Price The same as SPOT price (read this and related legal terms for further details), as used in grain transactions.......
92. 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......
93. 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......
94. Price Cartel An agreement among business entities to fix prices, to establish ranges within which prices may move, or to establish methods by which prices may be determined.......
95. 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.......
96. 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......
97. World Price The price at which a given commodity is selling internationally under market conditions in effect at the time of sale. To provide a valid comparison between prices, the world price quoted must normally include quality, location, and perhaps other factors, depending upon the commodity.......
98. American Selling Price A method formerly employed in the United States to establish the value for duty of a limited number of imported products. Under the ASP scheme, an imported product's value for duty was based upon the selling price of like products manufactured in the United States, irrespective of the price the ......
99. 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......
100. Consumer Price Index Summary of Consumer Price Index An index of the retail price of four hundred consumer products and services, computed monthly by the Bureau of Labor Statistics. Formerly known as the Cost of Living Index, the compilation includes retail price inputs of given items from many cities across [...]...
101. Foreign Market Price For purposes of customs valuation comparisons, generally the price of like merchandise sold for consumption in the country of origin.......
102. International Price Index A price index that serves as a standard to measure inflation in industrialized countries. The index consists of the C.I.F. value (in U.S. dollars) of exports of industrial country manufactures to developing countries.......
103. Resale Price Method Synonymous with Arm's Length Price (read this and related legal terms for further details).......
104. Trigger Price Mechanism A program of import surveillance instituted by the U.S. government in 1977. Under this scheme, a floor price is established for designated import items; this floor is predicated upon the production cost of the most efficient foreign producer, with adjustments for freight and currency [...]...
105. Sluice-Gate Price Sluice-Gate Price and International Trade Resources See Also Common Agricultural Policy...
106. ISO Standard Resources See Also International Organization Foreign Relations Intergovernmental Organization Regional Organization Regional Integration...
107. Gold Exchange Standard A condition in which a nation maintains its reserves in a currency convertible into gold rather than in the metal itself. Since August 15, 1971, the U.S. dollar has not been freely convertible into gold by foreign central banks; it therefore does not qualify as a reserve currency for a nation on a g......
108. Lloyd's Standard Policy A form of marine policy adopted by Lloyd's in 1779 and recognized in Britain by the Marine Insurance Bill of 1899 and the Marine Insurance Act of 1906 as the standard policy for Britain; policy forms used in the United States vary from the Lloyd's policy, but significant portions are retaine......
109. Reasonable Person Standard Reasonable Person Standard Explained References See Also Tort (in international or comparative law) Product Liability (in international or comparative law) Duties (in international or comparative law) Resources See Also Tort Product Liability Duties...
110. Common Standard of Civilization Embracing mainstream international law, this section on common standard of civilization explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "common standard of civilization" in the Parry and Grant Encyclopaedic Dictionary [...]...
111. International Minimum Standard Embracing mainstream international law, this section on international minimum standard explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "international minimum standard" in the Parry and Grant Encyclopaedic Dictionary [...]...
112. Minimum Standard Embracing mainstream international law, this section on minimum standard explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "minimum standard" in the Parry and Grant Encyclopaedic Dictionary of International Law [...]...
113. National Treatment Standard National Treatment (standard) Embracing mainstream international law, this section on national treatment (standard) explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "national treatment (standard)" in the Parry and [...]...
114. Production Standard Resources See Also Contract Contracting Novation Contract Dispute...
115. International Standard Classification of Occupations Resources See Also Worker Employee Benefits Employ Employment White Collar Worker Blue Collar Worker Labor Right Employee...
116. Certified Information Systems Security Professional Standard Overview of Certified Information Systems Security Professional Standard in relation to cyber crime: [1]There are currently three major concentrations in the CISSP standard, which are the following: (1) Information Systems Security Architecture Professional (ISSAP), (2) Information Systems [...]...
117. Price Base Price or Basic Price and International Trade Resources See Also Further Reading Information related to price in the Max Planck Encyclopedia of International Law(MPEPIL), Germany, United Kingdom Resources See Also Common Agricultural Policy Gate Price and International Trade Resources [...]...
118. Net Price Net Price in International Trade Meaning of Net Price, according to the Dictionary of International Trade (Global Negotiator): The price paid or payable after all discounts and rebates have been applied....
119. Going Price Resources See Also Fair market value...
120. Exercise Price The price at which the holder of an option contract may buy or sell a specified quantity of a given commodity, security, or currency.......