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V
- VRA
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- V.C. - Valuation clause
- V.L.C.C. - very large crude carrier
- v.o.p. - Value as in original policy
- V.T.S. - Vessel Traffic Systems
- Validated Export License - A document issued by the U.S. government
authorizing the export of commodities for which written export
authorization is required by law. Two types exist: an Individual
Validated License (IVL) and a Special License.
- Value Added Counseling - Valued added counseling is defined
as assessing a company's current international business operations
and assisting a client in one or more of the following: (a) identifying
and selecting the most viable markets; (b) developing an export
market strategy; (c) implementing the export market strategy;
and (d) increasing market presence.
- Value Added Tax (VAT) - A tax which is assessed at each stage
of production on the amount of value contributed at each stage
to the final product.
- Value Date - The date on which payment must be made by the
named bank. This date is determined by the payee, the payer or
the bank.
- Value for Customs Purposes Only - The U.S. Customs Service
defines "value for Customs purposes only" as the value
submitted on the entry documentation by the importer which may
or may not reflect information from the manufacturer but in no
way reflects Customs appraisement of the merchandise.
- Value-Added Tax - A European Community (EC) tax assessed on
the increased value of goods as they pass from the raw material
stage through the production process to final consumption. The
tax on processors or merchants is levied on the amount by which
they increase the value of items they purchase. The EC charges
a tax equivalent to the value added to imports and rebates value-added
taxes on exports.
- Variable Levy - A tariff subject to alterations as world market
prices change, the alterations are designed to assure that the
import price after payment of the duty will equal a predetermined
"gate" price.
- VAT - Value-Added Tax
- Vd. - Valued
- VER - Voluntary Export Restriction
- Vertical Export Trading Company - An export trading company
that integrates a range of functions taking products from suppliers
to consumers.
- vessel - Ship or boat.
- Visa - Visas are required by many countries for entry of a
foreigner. A visa is a stamp in a foreign national's passport
issued by a U.S. consular officer which creates a legal presumption
that there are no apparent reason to deny entry into the U.S.
Regardless of the stamp, the final decision to grant admission
is made by an officer of the U.S. Immigration Service at the port
of entry.
- Visa Waiver - A program of selected countries to eliminate
the visa requirement on a test basis.
- Visit USA Committee - A committee of U.S. tourism managers
located in foreign markets. Visit USA Committees work with USTTA
and the U.S. & Foreign Commercial Service in planning and
promoting travel to the U.S.
- VL - Variable Levy
- VLCC - Very large crude carrier
- VO-MTO - Vessel-operating multimodal transport operator
- VOA - Voice of America
- Voluntary Export Restriction - An understanding between trading
partners in which the exporting nation, in order to reduce trade
friction, agrees to limit its exports of a particular good. Also
called voluntary restraint agreement.
- Voluntary Restraint Agreement - Informal bilateral or multilateral
understandings in which exporters voluntarily limit exports of
certain products to a particular country destination in order
to avoid economic dislocation in the importing country and the
imposition of mandatory import restrictions. These arrangements
do not involve an obligation on the part of the importing country
to provide "compensation" to the exporting country,
as would be the case if the importing country unilaterally imposed
equivalent restraints on imports. See: Voluntary Export Restriction.
- Voluntary Restraint Agreements (VRAs) - Generally, a bilateral
arrangement whereby an exporting country agrees to reduce or restrict
exports without the importing country having to make use of quotas,
tariffs or other import controls. These agreements are generally
undertaken to avoid action by the importing country against imports
that may major or in some way threaten the positions of domestic
firms in the industry in question.
- VRA - Voluntary Restraint Agreement
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