Tag: International Commercial Law
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Trust Receipt
An instrument in which a borrower pledges certain specific goods as collateral for a loan. The trust receipt certifies that the named goods are held in trust for the creditor or are segregated in the borrower's premises on behalf of the lender. Proceeds from the sale of the pledged goods […]
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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 […]
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Jurisdiction in Cross-Border Antitrust Disputes
Jurisdiction in Cross-Border Antitrust Disputes Dispute Settlement in Trade Overview This secton covers the extent to which international rules and procedures can be and are used to solve difficult inter-firm and inter-governmental problems in international trade and investment. Topics This section provides an in depth examination of cases that have been litigated either at the…
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Political Risk
An economic risk assumed by foreign creditors that political or military conditions in a debtor's country may preclude settlement of the obligation when due….
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International Olive Oil Council
See the International Commodity Organization….
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Delivery Order
Written instructions issued by the owner of goods or his authorized agent to the holder of such goods directing that the merchandise be released or shipped to a specified party….
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Unitization
The act of consolidating several smaller packages into a single unit for shipping purposes (e.g., the strapping of cartons onto a pallet). Unitization affords additional security in transit to the merchandise and facilitates handling….
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Cartage
The transfer of merchandise locally, e.g., from a pier to a nearby warehouse; also, the charge for cartage services….
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International Cotton Advisory Committee
See the International Commodity Organization….
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Vostro Account
Funds denominated in local currency that a foreign bank holds in a local bank. …
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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. …
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North-South Dialogue
Various discussions and negotiating sessions between the industrialized (North) and developing (South) countries directed toward a restructuring of the global economy. See New International Economic Order….
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Devanning
Synonymous with stripping or unloading a container or trailer….
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Flotsam
Wreckage of a ship or its cargo found floating upon the sea….
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Prohibitive Duty
A rate of duty so high as to effectively preclude entry of an item. Generally, prohibitive duties increase the selling price to such a level that the item cannot compete with domestic substitutes. Prohibitive duties are designed to protect domestic infant or ailing industries from vigorous […]