The dictionary contains 2000 key terms for international trade. An application that expedites the clearance of cargo for the subsequent release of containers. Terms beginning with f refer to shipments where the primary cost of shipping is not paid for by the seller. Dictionary of trade policy terms fourth edition july 2003. The trade compliance and logistics world has a huge number of acronyms, and it is everchanging. International trade, standards and regulations learning objective. Intermediaries in international trade early theoretical work on the role ofintermediaries in international trade, e. Glossary of customs and trade terms centre for customs and. This stimulates a country to go for international trade. Under this, the payment is remitted by the buyer in advance, either by a draft mail or telegraphic transfer tt. The new edition has been thoroughly revised and updated to reflect the latest research on international trade.
The basis of international trade lies in the diversity of economic resources in different countries. The commodity, or net barter, terms of trade n is the ratio of the price index of the countrys exports p x, to the price index of its imports p m, multiplied by. Glossary of international trade terms business trade forum. A bill of lading used to transport goods over land to. Glossary of international trade terms acceptance commission. A document listing and acknowledging receipt of goods for transport. International trade theories notes definition and types. The difference between a countrys total imports and exports. In an international trade transaction, there is a time lag between the transfer of goods by the exporter to the importer, and transfer of payment by the importer to exporter.
International trade theory and policy is a masterful exposition of the core ideas of. Generally, such payments are made on the basis of a sample receipt and its approval by the buyer. This list explains what some of them stand for and their meaning. When trade takes place across the country, its international trade. Congress in november 1993 and began implementation in january 1994. At the top of the page you can quickly find pages using the quick search box. Glossary of international trade terms trade connect. Find materials for this course in the pages linked along the left. The fee that is usually paid by the applicant to the accepting bank to compensate the bank for accepting the draft under a usance letter of credit. Input approach to determining comparative advantage. International law, which concerns the way in which states behave towards one another, has a primarily regulatory function for the purpose of facilitating international cooperation. These are the income terms of trade, the single factoral terms of trade and the double factoral terms of trade.
The meanings included in the glossary have been drawn from a wide range of sources. Basic glossary of terms commonly used in the world trade. Dictionary of international trade the international trade dictionary contains a glossary of 2000 key terms for international business and trade classified into eight categories encompassing the full breadth of international trade activities. Since the collapse of the bretton woods agreements in the early 1970s, international currencies have floated in response to forces of supply and demand. Rules of the united nations commission on international trade law uncitral. In global trade world the term international trade is referred to the exchange of goods and services between regions. This glossary forms part of the series of notes that the center for strategic analysis for agriculture caespa of the inter. This article throws light upon the four major modes of payment in international trade. Dictionary of international trade global negotiator. Glossary of international trade terms 24 hour rule. It was the first ever seminar on international trade to be sponsored by the legal vice presidency.
Glossary of customs and trade terms the following customs and trade terms are intended as a guide to assist anyone who may not be familiar with the vast array of terms and acronyms that populate the world of customs and international trade and travel. Terms glossary of international customs terms authorized economic operator aeo operateur economique agree oea aeo is a party involved in the international movement of goods in whatever function that has been approved by or on behalf of a national customs administration as complying with wco or equivalent supply. Learn vocabulary, terms, and more with flashcards, games, and other study tools. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Canadian sme international trade and marketing writings upon readings and continued curiousity in the realms of cross cultural business. International trade terms and conditions simplydocs. If exports exceed imports, a favorable balance of trade exists. The legal vice presidency seminar on the legal aspects of international trade was held in october 2000. Glossary of international shipping terms old dominion freight line. Due to the fact that colombia and peru implemented free trade agreements with the u. The following websites provide glossaries of terms used in trade. How the gain from international trade would be shared by the participating countries depends upon the terms of trade. A form issued by a licensed customs broker which allows ccra to monitor in bond shipments. The process of becoming a member of the general agreement on tariffs and trade see gatt.
The number of entries is now close to double that in the. Concepts, determination and effect of tariff on term of trade. The seminar was made possible by a multidisciplinary team of. Abc of international law 3 introduction international law is the term used to refer to all legally binding rules that apply at the international level. Glossary of international shipping terms a8a manifest a form issued by a licensed customs broker which allows ccra to monitor in bond shipments as they move through canada. The international trade dictionary contains a glossary of 2000 key terms for international business and trade classified into eight categories encompassing the. Dictionary of trade terms the intent of this dictionary was to produce a broad listing of terms, which are commonly used in trade negotiations and especially within the context of the free trade area of the americas ftaa with a view to providing an information tool for the public at large. This is the fourth edition of the dictionary of trade policy terms. It is the exchange of goods and services across international borders or territories.
A country specializes in a specific commodity due to mobility, productivity and other endowments of economic resources. International glossary of business valuation terms to enhance and sustain the quality of business valuations for the benefit of the profession and its clientele, the below identified societies and organizations have adopted the definitions for the terms included in this glossary. The glossary of international trade terms section on apparel search helps the clothing and textile industry learn about terminology used for international business trade. International trade in endangered species of wild fauna and flora. Modes of payment in international trade your article library. The concept of international trading is not limited to, just sending and receiving products and services and putting all of the profits in the pockets.
The beneficiarys exporters local bank that takes responsibility to advise the letter of credit. Dictionary of international trade globalnegotiator. International trade unrestricted by protectionist measure such as tariffs or quotas. An informal press guide to wto speak business roundtable language of trade. International currency exchange rates determined by laws of supply and demand. Specialization and exchange benefit all the trading partners. When you click on a term, an explanation will appear. Glossary of trade terms united states trade representative. For the success of business, it is important to understand all the key types of international trade theories. To protect both parties from counterparty risk, a number of documents are created and used. The performance of business valuation services requires a high.
In each case i have also included the formal version of the entry, with a referral to the. When the term is capitalized, it means all contracting parties acting jointly. Although the wto strives to eliminate all trade barriers, it recognizes that nations require flexibility to adjust to economic shocks as multilateral agreements. Several new papers in the theoretical literature on intermediaries in. It publishes updated international commercial terms incoterms rules, a series of predefined commercial terms that are widely used in international commercial transactions or procurement processes.
Contracting parties refers to the nations which signed the general agreement on tariffs and trade. Glossary of international trade terms letter of credit bill of lading. The words and acronyms selected for inclusion are those likely to be encountered. Deardorff the university of michigan the expression the terms of trade has been in use by international economists for most of a century, and its fundamental meaning is clear to all. Several different models have been proposed to predict patterns of trade and to analyze the effects of trade policies such as tariffs.
Some of my opinions are not my own, but i would fancy to say nearly all of them should be credited to the various authors. They are primarily designed to clearly communicate the tasks, costs, and risks associated with the. List of documents used in international trade business. Start studying glossary of terms international trade. Glossary of terms international trade flashcards quizlet. Terms of trade and the gains from trade khan academy. International rules published by the international chamber of commerce for the interpretation of foreign trade terms.
This chapter is also available via download in pdf format to succeed in todays global marketplace and win sales against foreign competitors, exporters must offer their customers attractive sales terms supported by the appropriate payment methods. The terms of trade refer to the rate at which one country exchanges its goods for the goods of other countries. Browse thousands of resources from fita to find market reports, tips, news, service providers, agents and distributors related to glossary for international trade find related content on. In this article we have compiled an extensive list of the different terms that are widely used in the conducting of transactions in international trade.
645 686 1203 1347 809 991 1424 809 1458 1528 1408 473 1508 969 755 149 1338 574 299 1062 1031 344 492 410 1174 348 346 962 58 269 932 1145 507 9 862 122 505 981 493 724 830 455 1245 1191 236