WBE
Menu
|
|
|
|
Inter
- Iss
|
|
- International Convention on the Simplification and Harmonization
of Customs Procedures - This Convention, developed by the Customs
Cooperation Council, seeks to foster international trade and cooperation
by simplifying and harmonizing customs procedures and operations.
(The term "customs procedure is not used in the narrow sense
of the treatment assigned to imported goods; it covers all provisions
relating to a particular sphere of customs activity.) The Convention
(also known as the "Kyoto Convention") was adopted in
May 1973 in Kyoto, Japan as a core legal instrument with three
original annexes on customs procedures. Nearly thirty additional
annexes (each covering a different area of customs procedures
and operations) have since been created. To ensure worldwide harmonization,
the convention is also open to non-members of the CCC which are
state members of the United Nations or its specialized agencies.
A country is only required to accept the convention itself and
at least one of the annexes to become a contracting party. (When
the U.S. became party to the Covnention, effective January, 1984,
it accepted twenty of the annexes and entered certain reservations
with respect to some of their provisions.) The annexes contain
definitions, standards, and recommended practices; and countries
can reserve against any standard or recommended practice in a
particular annex. There is also a provision obligating countries
to review their national legislation every three years to determine
if reservations can be removed. See: Customs Cooperation Council.
- International Council of Scientific Unions - The International
Research Council (a predecessor organization to ICSU) was created
in 1919 to coordinate international activity in the different
branches of science and their applications. ICSU, founded in 1931,
is a non-governmental organization with two categories of members:
(a) national, multidisciplinary scientific academies or research
councils which promote cooperation and research and (b) international
organizations which promote cooperation in a single field of science
(scientific unions). A small headquarters office is in Paris,
France. The Council seeks to break the barriers of specialization
through international interdisciplinary programs and research
bodies.
- International Court of Justice - The ICJ, established in 1945,
is the principal judicial organ of the UN. The ICJ decides cases
submitted to it by states and gives advisory opinions on legal
questions submitted to it by the General Assembly or Security
Council or by UN specialized agencies. The court is composed of
15 judges elected by the General Assembly and the Security Council
from a list of persons nominated by the national groups in the
Permanent Court of Arbitration. The seat of the Court is in The
Hague, Netherlands.
- International Data Base - The IDB, which is maintained by the
Center for International Research, is an automated data bank containing
statistical tables of demographic, economic, and social data for
all countries of the world. Data categories include: population;
vital statistics; health and nutrition; fertility, migration;
foreign-born and refugee statistics; provinces and cities; marital
status; family planning; ethnic, religious and language groups;
literacy and education; labor force, employment, income and gross
national product; and household size and housing indicators. IDB
data users include the U.S. government, private firms, research
institutions, and international organizations. See: Center for
International Research.
- International Depository Receipt - An IDR is a negotiable bank-issued
certificate representing ownership of stock securities by an investor
outside the country of origin. The securities backing the receipt
remain in the custody of the issuing bank or a correspondent.
- International Development Association - The IDA, a part of
the World Bank Group, was created in 1959 (began operations in
November 1990) to lend money to developing countries at no interest
and for a long repayment period. IDA provides development assistance
through soft loans to meet the needs of many developing countries
that cannot afford development loans at ordinary rates of interest
and in the time span of conventional loans. The Association's
headquarters are in Washington, D.C. See: World Bank.
- International Electrotechnical Commission - The International
Electrotechnical Commission was established in 1906 to deal with
questions related to international standardization in the electrical
and electronic engineering fields. The members of the IEC are
the national committees, one for each country, which are required
to be as representative as possible of all electrical interests
in the country concerned: manufacturers, users, governmental authorities,
teaching, and professional bodies. They are composed of representatives
of the various organizations which deal with questions of electrical
standardization at the national level. Most of them are recognized
and supported by their governments.
- International Emergency Economic Powers Act - The International
Emergency Economic Powers Act (IEEPA) was enacted in 1977 to extend
emergency powers previously granted to the President by the Trading
with the Enemy Act of 1917 (which still authorized the President
to exercise extraordinary powers when the United States is at
war). IEEPA enables the President, after declaring that a national
emergency exists because of a threat from a source outside the
United States, to investigate, regulate, compel or prohibit virtually
any economic transaction involving property in which a foreign
country or national has an interest.
- International Energy Agency - The IEA was founded in 1974 as
a forum for energy cooperation among 21 member nations. The IEA
helped participating countries prepare to reduce the economic
risks of oil supply disruptions and to reduce dependence on oil
through coordinated and cooperative research efforts.
- International Executive Service Corps - The IESC is a non-profit,
Agency for International Development-funded organization which
recruits retired U.S. executives and technical advisers to counsel
businesses in developing nations on a volunteer basis. IESC's
program includes short-term technical and managerial assistance
and long-range trade and investment services. IESC was founded
in 1964; headquarters is in Stamford, Connecticut.
- International Exhibitions Bureau - The IEB governs the frequency
of international exhibitions and oversees the guarantees and facilties
which the host nation is required to offer. By agreement, member
states may mount international exhibitions only after the events
have been registered with IEB. Member states are also precluded
from participating in exhibitions in non-member states in the
absence of agreement by the Bureau. IEB, originally created in
in 1928, was revised in 1972; headquarters are in Paris, France.
- International Finance Corporation - The IFC was established
in 1956 as a member of the World Bank Group. The IFC promotes
private sector investment in developing countries. The IFC charges
market rates and seeks profitable returns. See: Africa Enterprise
Fund Africa Project Development Facility African Management Services
Company Caribbean/Central America Business Advisory Service World
Bank.
- International Frequency Registration Board - The IFRB (French:
Comite International d'Enregistrement des Frequences) is an organizational
entity under the International Telecommunication Union (ITU).
Located in Geneva, IFRB is composed of five full-time elected
officials with a rotating chairmanship. IFRB maintains the International
Frequency Register, monitors and analyzes all ITU records of frequency
use around the world, and makes determinations as to whether or
not certain systems are in compliance with the Radio Regulations.
- International Fund For Agricultural Development - IFAD, created
in 1976 (began operations in December 1977), provides financial
support for programs which improve agricultural policies and increase
food production among members. The Fund also seeks to improve
nutrition in developing countries. IFAF membership includes over
140 nations; headquarters are in Rome, Italy.
- International Industrial List - The CoCom industrial list contains
dual-use items whose export are controlled for strategic reasons.
- International Institute for the Unification of Private Law
- UNIDROIT studies methods for coordinate and unify the private
and trade laws of member countries. The Institute (originally
established in 1926 at the initiative of Italy and associated
with the League of Nations) is independent, with headquarters
in Rome, Italy.
- International Intellectual Property Alliance - The IIPA represents
U.S. copyright-based industries in bilateral and multilateral
efforts to improve international protection of copyrighted works.
IIPA is composed of trade associations each representing a significant
segment of the U.S. copyright community. IIPA was formed in 1984;
headquarters are in Washington, D.C.
- International Investment - See: Foreign Direct Investment in
the United States Portfolio Investment.
- International Labor Organization - The ILO, set up in 1919,
became a specialized agency of the United Nations in 1946. The
ILO seeks to promote improved working and living conditions by
establishing standards that reduce social injustice in areas such
as employment, pay, health, working conditions, and freedom of
association among workers. Headquarers are in Geneva, Switzerland.
- International Maritime Organization - The IMO was established
as a specialized agency of the United Nations in 1948. The IMO
facilitates cooperation on technical matters affecting merchant
shipping and traffic, including improved maritime safety and prevention
of marine pollution. Headquartrers are in London, England.
- International Maritime Satellite Organization - INMARSAT is
an international partnership of signatories from 67 nations. The
partnership provides mobile satellite capacity to its signatories,
who, in turn, use the capacity to provide worldwide mobile satellite
services to their maritime, aeronautical and land-mobile customers
-- including shipping, cruise, fishing, research and offshore
exploration industries, and airlines. INMARSAT began service in
1976. COMSAT is the U.S. signatory to INMARSAT.
- International Market Research - See: Industry Subsector Analysis.
- International Market Insights - International Market Insight,
IMI, reports are prepared by staff at American embassies and consulates.
An IMI covers developments in a single country that are of interest
to traders and investors. Topics may include: new laws, policies
and procedures, new trade regulations, and marketplace changes.
- International Monetary Fund - The IMF, established in December
1945, promotes international monetary harmony, monitors the exchange
rate and monetary policies of member nations, and provides credit
for member countries which experience temporary balance of payments
deficits. Each member has a quota, expressed in Special Drawing
Rights, which reflects both the relative size of the member's
economy and that member's voting power in the Fund. Quotas also
determine members' access to the financial resources of, and their
shares in the allocation of Special Drawing Rights by, the Fund.
The IMF, funded through members' quotas, may supplement resources
through borrowing. IMF membership is approximately 175 countries.
See: Compensatory and Contingency Financing Facility Credit Tranches
Enhanced Structural Adjustment Facility Extended Fund Facility
General Arrangements to Borrow Reserve Tranche Special Drawing
Rights Stand-By Arrangements.
- International Munitions List - The International Munitions
List, IML, is one of three lists controlled by the 17-member Coordinating
Committee on Multilateral Export Controls (CoCom). The IML contains
23 categories and is similar in coverage, but less restrictive,
than the U.S. Munitions List (USML).
- International Organization for Migration - The IOM assists
countries in meeting individual needs arising from immigration
and emigration. The Organization was established in 1951; headquarters
are in Geneva, Switzerland.
- International POW WOW - The International POW WOW promotes
foreign tourism to the United States. It is an annual trade fair,
sponsored by the Travel Industry Association of America, which
brings together over 1,200 international buyers (tour operators
and wholesalers) from 55 countries. The buyers are chosen through
international selection criteria and purchase packages which they
sell to their respective travel retailers.
- International Radio Consultative Committee - CCIR (French:
Comite International des Radiocommunications) studies and issues
recommendations on technical and operating questions connected
with radiocommunications. CCIR, a subsidiary organization of the
International Telecommunications Union, is located in Geneva,
Switzerland. The Department of State is the U.S. member. See:
International Telecommunications Union.
- International Service for National Agricultural Research -
See: Consultative Group on International Agricultural Research.
- International Social Security Association - The ISSA, established
in 1927, is comprised of organizations responsible for the administration
of social security. ISSA aims to protect and develop social security
throughout the world. The Assocation works closely with the International
Labor Organization (ILO). The ISSA secretariat is locaated in
the ILO building in Geneva, Switzerland.
- International Standards Organization - The ISO, established
in 1947, is a worldwide federation of national bodies, representing
approximately 90 member countries. The scope of the International
Standards Organization covers standardization in all fields except
electrical and electronic engineering standards, which are the
responsibility of the IEC, International Electrotechnical Commission.
Together, the ISO and IEC form the specialized system for worldwide
standardization -- the world's largest nongovernmental system
for voluntary industrial and technical collaboration at the international
level. The result of ISO technical work is published in the form
of International Standards. There are, for example, ISO standards
for the quality grading of steel; for testing the strength of
woven textiles; for storage of citrus fruits; for magnetic codes
on credit cards; for automobile safety belts; and for ensuring
the quality and performance of such diverse products as surgical
implants, ski bindings, wire ropes, and photographic lenses. See:
International Accreditation Forum.
- International Standards Organization 9000-9004 - ISO 9000 is
the general name for the quality standard accepted throughout
the European Economic Community. It was initially adopted in 1987.
ISO is a series of documents on quality assurance published by
the Geneva-based International Standards Organization. The five
documents outline standards for developing Total Quality Management
and a Quality Improvement Process. 9000 consists of guidelines
for the selection and use of the quality systems contained in
9001-9003. 9001 outlines a model for quality assurance in design,
development, production, installation, and servicing. 9002 outlines
a model for quality assurance in production and installation.
9003 outlines model for quality assurance for final inspection
and testing. 9004 is not a standard but contains guidelines for
quality management and quality system elements.
- International Standards Organization Information Network -
ISONET is an agreement between standardizing bodies to make information
on standards, technical regulations, and related matters readily
available. ISONET links the information centers of national standards
bodies with each other and with the ISO Information Centre in
Geneva, Switzerland. National members of ISONET are responsible
for serving as the international reference point for information
about the standards, technical regulations and certification systems
which operate in the individual member's country and for providing
their own nationals with information on national, foreign, regional
and international technical rules.
- International Swaps and Derivatives Association - ISDA promotes
orderly practices in the swap market, conducts research on the
volume and quality of transactions, and public understanding.
The Association, established in 1985, is a not-for-profit corporation,
with headquarters in New York City; members include over 140 institutions
worldwide representing dealers in swaps, corporations, software
firms, and law firms. ISDA, formerly known as the International
Swap Dealers Association, changed its name in August 1993. See:
Derivatives.
- International Telecommunications Satellite Organization - INTELSAT,
created in 1964 under a multilateral agreement, is a nonprofit
cooperative of about 120 countries that jointly own and operate
a global communications satellite system serving the world. The
system is used primarily for international communications, and
by many countries for domestic communications. In 1991, the INTELSAT
system comprised a network of 16 satellites in geosynchronous
orbit over the Atlantic, Indian, and Pacific Ocean regions, with
service to about 1,500 international and domestic earth station
antennas. COMSAT is the United Statess representative to and participant
in Intelsat.
- International Telecommunications Services - These are transborder
services provided via cable, radio, or satellite. These service
offerings have traditionally been international message telephone
service (IMTS), telex, and telegraph, but during the 1980's have
grown to include private leased lines, overseas value-added services,
and international 800 services.
- International Telecommunication Union - The ITU (French: Union
Internationale des Telecommunications, UIT) is a specialized agency
of the United Nations with responsibilities for developing operational
procedures and technical standards for the use of the radio frequency
spectrum, the satellite orbit, and for the international public
telephone and telegraph network. ITU develops telecommunications
standards in the form of recommendations covering all technical
aspects of systems and equipment including interfaces, methods
of operation and principles governing the fixing of tariffs and
rates to be charged. There are over 160 member nations of the
ITU. The Radio Regulations that results from ITU conferences have
treaty status and provide the principal guidelines for world telecommunications.
In the case of the U.S., they are the framework for development
of the U.S. national frequency allocations and regulations. The
ITU has four permanent organs: the General Secretariat, the International
Frequency Registration Board (IFRB), the International Radio Consultative
Committee (CCIR), and the International Telegraph and Telephone
Consultative Committee (CCITT). The Union is located in Geneva,
Switzerland. The Department of State is the U.S. member. See:
International Frequency Registration Board International Radio
Consultative Committee International Telegraph and Telephone Consultative
Committee.
- International Telegraphy and Telephone Consultative Committee
- CCITT (French: Comite Consultatif International Telegraphique
et Telephonique) studies and issues recommendations on standards
and specifications on techincal, operating, and tariff questions
connected with telephony, data transmission, and telegraphy. CCITT,
a subsidiary organization of the International Telecommunications
Union, is located in Geneva, Switzerland. The Department of State
is the U.S. member. See: International Telecommunication Union.
- International Trade Commission - An independent U.S. Government
agency concerned with imports, import duties, and the effect of
imports on U.S. industry. The Commission has six commissioners
who review and make recommendations concerning countervailing
duty and antidumping petitions submitted by U.S. industries seeking
relief from imports that benefit unfair trade practices. Known
as the U.S. Tariff Commission before its mandate was broadened
by the Trade Act of 1974.
- International Trade Development Centers - ITDCs provide programs
and services to farmers and agribusinesses to enhance exports
of agricultural and forestry commodities and related products.
Activities include developing and promoting programs unique to
a region's products, conducting research, providing market information,
and offering conferences and seminars for exports. Grants for
the ITDCs are administered by the Agriculture Department's Cooperative
State Research Service.
- International Traffic in Arms Regulations - The International
Traffic in Arms Regulations, ITAR, are administered by the State
Department to control the export of U.S. defense articles and
services. The provisions implemented in the ITAR are governed
by the Arms Export Control Act. Direct commercial sales of U.S.-origin
defense products, components, technologies, and services are controlled
under the ITAR by the State's Office of Defense Trade Controls.
See: Defense Trade Regulations.
- International Value-Added Network Services - IVANS include
advanced telecommunications services, such as voice mail and electronic
banking. IVANS agreements play a growing role in maintaining the
competitiveness of American firms and provide benefits for consumers
worldwide.
- Investment Climate Statements - Investment climate statements,
ICSs, are prepared occasionally by the commercial sections of
the U.S. embassies for the U.S. and Foreign Commercial Service,
covering 67 individual countries. The ICSs provide statistics
and analysis of policies and issues effecting the climate for
direct investment in the individual country.
- Investment Sector Loan Program - The ISLP, administered by
the Inter-American Development Bank (IDB) as part of the Enterprise
for the Americas initiative, supports investment sector reforms
in Latin America and the Caribbean. The IDB evalutes the need
for reform in individual countries and, with input from several
U.S. government agencies, negotiates the terms for investment
sector loans. See: Enterprise for the Americas Initiative.
- Investment Promotion Services - See: United Nations Industrial
Development Organization.
- Invisibles - This refers to areas of non-merchandise "invisible
trade" that include expenses such as freight and insurance
and most types of services and investment.
- Irrevocable Letter of Credit - A letter of credit in which
the specified payment is guaranteed by the issuing bank if all
terms and conditions are met by the drawee. It is as good as the
issuing bank.
- Islamic Conference Organization - See: Organization of the
Islamic Conference.
- Islamic Development Bank - The IsDB (sometimes IDB) finances
economic aid and social development in member countries. The Bank
also supports Muslim communities in non-member countries. Membership
is open to all countries which are members of the Islamic Conference.
Members include: Afghanistan, Algeria, Bahrain, Bangladesh, Benin,
Brunei, Burkina, the Cameroon, Chad, Comoros, Djibouti, Egypt,
Gabon, The Gambia, Guinea, Guinea-Bissau, Indonesia, Iran, Iraq,
Jordan Kuwait, Lebanon, Libya, Malaysia, Maldives, Mali, Mauritania,
Morocco, Niger, Oman, Pakistan, the Palestine Liberation Organization,
Qatar, Saudi Arabia, Senegal, Sierra Leone, Somalia, Sudan, Syria,
Tunisia, Turkey, Uganda, the United Arab Emirates, and Yemen.
The Bank was created in 1973 (began operations in October 1975);
headquarters are in Jeddah, Saudi Arabia.
- Istituto Nazionale per il Commercio Estero - ICE (English:
Institute of Foreign Trade) is an Italian agency which promotes
exports through a network of domestic and foreign offices. Although
ICE obtains overall policy directiel Commercio con l'Estero),
it functions as an autonomous public corporation. The Ministry
of Foreign Affairs (Ministero degseas embassies and consulates,
though ICE's overseas officers are independent of these organizations.
- IACAC - Inter-American Commercial Arbitration Commisoalition
- IADB - Inter-American Development Bank
- IAEA - International Atomic Energy Agency
- IAEL - International Atomic Em
- IAIGC - Inter-Arab Investment Guarantee Corporation
- IARCs - International Agricultural Research Centers
- IATA - International Air Transport Association
- IAU - International Accounting Unit
- IBA - International Banking Act
- IBF - International Banking Facility
- IBOR - Interbank Offered Rate
- IBOS - International Business Opportunities Service
- IBRD - International Bank for Reconstruction and Development
- IC - Import Certificate, Integrated Circuit
- IC - International Coffee Organization, International Congress
Office, Islamic Conference Organization
- ICA - International Civil Aviation Organization
- ICA - International Cocoa Agreement, International Coffee Agreement,
International Commodity Agreement
- ICAC - International Confederation of Agricultural Credit
- ICB - International Competitive Bidding
- ICC - International Chamber of Commerce
- ICE - Istituto Nazionale per il Commercio Estero
- ICFTU - International Confederation of Free Trade Unions
- ICHCA - International Cargo Handling Coordination Association
- ICON - Indexed Currency Option Note
- ICS - Investment Climate Statement
- ICSID - International Centre for the Settlement for Investment,
Disputes
- ICSU - International Council of Scientific Unions
- ICTF - Intermodal Container Transfer Facility
- IDA - International Development Association
- IDB - Inter-American Development Bank, International Data Base,
Islamic Development Bank
- IDR - International Depository Receipt
- IE - Infrequent Exporter
- IEC - International Electrotechnical Commission
- IEEPA - International Emergency Economic Powers Act
- IEPG - Independent European Program Group
- IESC - International Executive Service Corps
- IFAC - Industry Functional Advisory Committee
- IFAD - International Fund for Agricultural Development
- IFC - International Finance Corporation
- IFRB - International Frequency Registration Board
- IFS - Industry Focused Seminar, In-Flight Survey
- IFU - Industrialization Fund for Developing Countries
- IGADD - Inter-Governmental Authority on Drought and Development
- IGC - Interagency Group on Countertrade
- IIC - Inter-American Investment Corporation
- IIPA - International Intellectual Property Alliance
- IIT - Instruments of International Traffic
- IL - Industrial List
- IL - International Labor Organization
- IM - International Maritime Organization
- IM - International Maritime Organization
- IMF - International Monetary Fund
- IMI - International Market Insight
- IML - International Munitions List
- INMARSAT - International Maritime Satellite Organization
- INR - Initial Negotiating Right
- INTELSAT - International Telecommunications Satellite Organization
- IOGA - Industry-Organized, Government-Approved Mission
- IOM - International Organization for Migration
- IPA - Investment Promotion Services
- IPAC - Industry Policy Advisory Committee
- IPR - Intellectual Property Rights
- IS - International Standards Organization
- ISA - Industry Sub-Sector Analysis, International Sugar Agreement
- ISAC - Industry Sector Advisory Committee
- ISDA - International Swaps and Derivatives Association
- IsDB - Islamic Development Bank
- ISDN - Integrated Services Digital Network
- ISLP - Investment Sector Loan Program
- ISNAR - International Service for National Agricultural Research
- ISONET - International Standards Organization Information Network
- ISSA - International Social Security Association
- ITA - International Tin Agreement, International Trade Administration
- ITAR - International Traffic in Arms Regulations
- ITC - International Trade Commission
- ITDCs - International Trade Development Centers
- ITU - International Telecommunication Union
- IVL - Individual Validated License
- IWC - International Whaling Commission
- i. and/or o. - In and/or overdeck
- I.A.E.A. - International Atomic Energy Agency
- I.A.T.A. - International Air Transport Association
- I.B. - Invoice book. In bond
- I.B.C. - Institute Builders' Clauses
- I.B.N.R. - Incurred but not reported
- I.B.R.D. - International Bank for Reconstruction and Developement
- I.C. & C. - Invoice coast and charges
- I.C.A.O. - International Civil Aviation Organization
- I.C.C. - International Chamber of Commerce, Institute Cargo
Clauses
- I.C.E.S. - International Council for the Exploration of the
Sea
- I.C.F.U. - International Confederation of Free Trade Unions
- I.C.S. - Institute of Chartered Shipbrokers, International
Chamber of Shipping
- I.C.S.U. - International Council of Scientific Unions
- I.D.A. - International Development Association
- i.f. - In full
- I.F.C. - Institute Freight Clauses, International Finance Corporation
- I.F.F. - Institute of Freight Forwarders
- I.F.V.C. - Institute Fishing Vessel Clauses
- I.H.P. - Indicated Horse-Power
- I.I.L. - Insurance Institute of London
- I.L.A. - International Longshoremen's Association
- I.L.O. - International Labor Organization
- I.L.U. - Institute of London Underwriters
- I.M.F. - International Monetary Fund
- I.M.I.F. - International Maritime Industry Forum
- I.M.O. - Intrnational Maritime Organization
- I.M.R.O. - Investment Management Regulatory Organization
- I.M.T.A. - International Meat Trade Association
- i.p.f. - Intaken piled fathom
- I.P.R.C. - Institute Port Risks Clauses
- I.R. - Inland Revenue
- i.r.o. - In respect of
- I.R.S. - Indian Register of Shipping
- I.S.F. - International Shipping Federation
- I.T.C. - Institute Time Clauses
- I.T.U. - International Telecommunications Union
- i.v. - Invoice value. Increased value
- I.V.C. - Institute Voyage Clauses (Hulls)
- I.Y.C. - Institute Yacht Clauses
- i/o - In and/or overdeck
- IAPH - International Association of Ports and Harbours
- ICC - International Chamber of Commerce
- ICD - Inland clearance depot
- ICHCA - International Cargo Handling Co-ordination Association
- IMF - International Monetary Fund
- Ince. - Insurance
- Inst. Wties - Insurance warranties
- Int. - Interest
- Inter Arr - Internal arrangements
- IRR - Internal rate of return
- ISO - International Organization for Standardization
- Immediate Transportation Entry - A customs form declaring goods
for transportation by a bonded carrier from a port of entry to
a bonded warehouse at an inland port, or another port of entry.
- Import Merchant - A merchant who buys overseas for his own
account for the purpose of later resale, handling all details
of import documentation and transportation. Usually the merchant
is specialized in one or two commodities.
- Import Rate - A rate established specifically for application
on import traffic and generally less, when so published, than
a domestic rate.
- Import Surcharge - A charge on imports over and above regular
tariffs or customs fees.
- Importer Distributor - A merchant who imports goods, usually
on an exclusive territory arrangement, maintains an inventory
and, through a sales staff, sells to retailers.
- In Bond - Goods are held or transported in bond under customs
control either until import duties or other charges are paid,
or in order to avoid paying such duties or charges. (Example:
Canadian goods are transported in bond through the United States
for export to a third country to avoid paying United States customs
duties.) Bonded warehouses are available at more ports for storing
goods awaiting payment of import duty, or export.
- Indent - A requisition for goods, enumerating conditions of
the sale. Acceptance of an indent by a seller constitutes his
agreement to the conditions of the sale.
- Indirect Exporting - Sale by the exporter to the buyer through
a domestically located intermediary.
- Indirect Tax - A tax that is levied on expenditures, i.e.,
a sales tax, excise tax or value added tax.
- Infant Industry - This term derives from the idea that temporary
protection in the form of tariffs or non-tariff barriers can help
establish an industry and ensure its eventual competitiveness
in world markets. Although a case may be made for restricting
trade due to the infant industry argument under the GATT, the
company may be required to compensate adversely affected signatories.
Article XVIII outlines where Balance of Payments and Infant Industry
restrictions may be legitimately used.
- Initial Negotiating Right (INR) - A right held by one GATT
country to seek compensation for an impairment of a given bound
tariff rate by another GATT country. INRs stem from past negotiating
concessions and allow the INR holder to seek compensation for
an impairment of tariff concessions regardless of its status as
a supplier of the product in question.
- Injury - In U.S. law, a finding by the U.S. International Trade
Commission that imports are causing harm to a U.S. industry. An
injury determination is the basis for Section 201 case. It is
also a requirement in all antidumping (AD) and most countervailing
duty (CVD) cases. In conjunction with Commerce Department, determinations
on dumping and subsidization, the ITC determines whether there
is serious injury to U.S. industry in a 201 case, while in AD/
CVD cases it investigates whether there is material injury.
- Inland Carrier - A transportation line which hauls export or
import traffic between ports and inland points.
- Installment Shipments - Successive shipments permuted under
letters of credit. Usually they must take place within a given
period of time. If not shipped within that period, the credit
ceases to be available automatically unless otherwise authorized
in the letter of credit.
- Intellectual Property Rights (IPRs) - This is the ownership
of the right to possess or otherwise use or dispose of products
created by human ingenuity. Trademarks, patents and copyrights
are examples of this. There are international organizations which
deal solely with intellectual property.
- International And Territorial Operations - In general, operations
outside the territory of the United States, including operations
between U.S. points separated by foreign territory or major expanses
of international waters.
- International Bank for Reconstruction and Development (IBRD)
- Commonly referred to as the World Bank, the IBRD is an intergovernmental
financial institution with the objective of raising world living
standards and reducing poverty in developing countries.
- International Monetary Fund (IMF) - This is an international
financial institution that was created in 1946 after the 1944
Bretton Woods Conference. The purpose of the fund is to assist
in the expansion of stable world trade while continuing to monitor
exchange rate policies of member countries. As needed, the member
countries are able to acquire financial resources to aid their
adjustment policies.
- Irrevocable - This the most common instrument of credit in
international trade, carries an irrevocable obligation of the
issuing bank to pay the beneficiary when drafts and documents
are presented in accordance with the terms of the letter of credit.
An irrevocable letter of credit, once issued, cannot be amended
or canceled without the agreement of all named parties. As such,
it must have a fixed expiration date.
- Issuing Bank - A bank which opens a straight or a negotiable
letter of credit. This bank assumes the obligation to pay the
beneficiary or a correspondent bank if the documents presented
are in accordance with the terms of the letters of Edit.
|
|
|