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Definitions (219)
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validity date
The date on which a bond or guarantee expires.
Meaning awaits approval from a moderator |
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switch trading
This is when a third party buys the imbalance that has arisen on a bilateral clearing account in hard currency but at a discounted rate.
Meaning awaits approval from a moderator |
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expropriation risk
Risk of loss of an investment due to expropriation, nationalISation, or confiscation by a foreign government. This risk is typically covered by political risk insurance.
Meaning awaits approval from a moderator |
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remitting bank
The bank instructed by the exporter/seller in the handling of collections. The remitting bank will, in its turn, instruct the collecting bank.
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local costs
Those expenses incurred in the buyer’s country which are provided by the supplier. The export credit agencies do not usually finance or guarantee these costs but may do so up to 15% of the export valu [..]
Meaning awaits approval from a moderator |
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final delivery
The date on which final delivery is effected.
Meaning awaits approval from a moderator |
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counter-indemnity
An exporter’s irrevocable commitment to repay the bank if a bond is called.
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world trade organisation
The WTO is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nat [..]
Meaning awaits approval from a moderator |
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vostro account
Used to facilitate international payments, this is the account of a bank with an agent or correspondent in a foreign country which is recorded in the currency of the bank’s own country.
Meaning awaits approval from a moderator |
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warehouse receipts
Warehouse receipts provide evidence that specified physical assets of a creditor are being held in storage. They may be used as a form of guarantee in countertrade operations.
Meaning awaits approval from a moderator |
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