Terms used in business such as Commission,Commodity Swap,Common Law , Commonwealth,Companies House,Company seal etc

 

Terms used in business such as Commission,Commodity Swap,Common Law , Commonwealth,Companies House,Company seal etc.

 

 

 

This post explains about terms used in business such as Commercial bill ,Commercial Credit,Commission,Commodity Swap,Common Law ,Commonwealth,Companies House,Company seal,Competition Law etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.

 

Terms used in business

 

Commercial bill - (also known as a bill of exchange) is a form of commercial loan that can be offered on an interest only basis, or reducing basis. Commercial bills typically require some sort of security and suit short-term funding needs such as inventory.

 

Commercial Court / Tribunal de commerce :This is a non-criminal specialised jurisdiction of the first degree with judges and a court clerk. The "lay magistrates" (tradesmen acting as judges) have a voluntary mandate and are responsible for judging disputes between partners, traders or those relating to commercial laws.

 

Commercial Credit - A letter of credit that assures the seller that buyer will pay for the goods being sold. Such letter is usually issued by a bank upon client's request.

 

Commercial Document - General term for documents describing various aspects of a transaction, e.g. commercial invoice, transport document, insurance document, certificate of origin, certificate of inspection, etc.

 

Commercial Monopoly - The control of a commodity or service by one provider in a particular market, virtually eliminating competition.

 

Commercial Paper - An unsecured and unregistered short-term agreement in which organizations can borrow money from investors who cannot take the assets from the organization if the loan is not repaid.

 

Terms used in  business such as Commission,Commodity Swap,Common Law , Commonwealth,Companies House,Company seal etcCommercial paper: uncollateralized loans obtained by companies, usually on a short-term basis.

 

Commercial Risk - The possibility that a debtor may not be able to pay back debts because of business events, like bankruptcy.

 

Commingling - Method of packing a shipment in which various goods subject to differing duties are grouped together. Because of this, the value of each type of item is difficult to determine.

 

Commission - In finance, a payment based on percentage of transaction value, according to the local interpretation of value (e.g., based on total revenue, or gross profit, etc).

 

Commission Broker - A person who buys and sells shares, bonds, etc., on a commission basis on behalf of their clients.

 

Commodity Exchange : An exchange where futures are traded, for example, the commodity exchange for metals.

 

Commodity Future: A contract to buy or sell a commodity at a predetermined price and on a particular delivery date.

 

Commodity Price Risk - The risk of unexpected changes in a commodity price, such as the price of oil.

 

Commodity Swap - A swap in which the (often notional) principal amount on at least one side of the swap is a commodity such as oil or gold.

 

Commodity: A good or service, for example, cotton, wool, or a laptop computer, resulting from the process of production.

 

Common Carrier - An organization that transports persons or goods for a fee.

 

Common Law - The body of law based on customs, usages, and court decisions rather than statutory laws.

 

Common Market - A common market is a group of countries that have common external tariffs against non-member nations. It may also allow labor mobility as well as common economic policies. For example, the European Union (EU).

 

Common Market for Eastern and Southern Africa (COMESA) - An organization of states that intends to promote the development of the resources of its members, COMESA forms a major trading block of 19 nations: Burundi, Comoros, D.R. Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe.

 

Common stock:  Ownership in a corporation resulting from investment (Common stockholder rights usually include a  right to vote, share in dividends, purchases additional shares, and share in cash if the corporation is liquidated.)

 

Commonwealth - An association of independent states that promotes cooperation, consultation, and mutual assistance among members. However, such association has no treaty or constitution. For example, the British Commonwealth.

 

Commonwealth of Independent States (CIS) - An association of former Soviet republics that was established in December 1991 by Russia, Ukraine, and Belarus to help ease the dissolution of the Soviet Union and coordinate inter republican affairs. Other members include Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Uzbekistan and Ukraine.

 

Communications Site - The premises to which Sprint is providing access, provided, however such term shall not include the teleconference facility.

 

Community goods / Marchandise communautaire :This expression refers to goods: either obtained entirely from the Community's customs jurisdiction , with no input of goods imported from countries or territories outside the Community's customs jurisdiction, or imported from countries or territories outside the Community's customs jurisdiction but found in a free zone.

 

Community of Interest: It refers to a group of persons having stakes or interests in something. When the business policy of several companies is controlled by a group of common shareholders, or directors without any formal central administration, a community of interest is formed.

 

Companies House - A government agency in the UK which is responsible for collecting and storing information about limited companies. The companies must file annual accounts or face penalties.

 

Company / Société :Contract - and, by extension, the legal entity itself created by this contract - whereby two or more entities agree to allocate to a common enterprise their goods or services with the objective of sharing the profits or the economies that may arise from the arrangement. It can also be constituted by an act of law, or by the will of one individual.

 

Company seal - an embossing press used to indicate the official signature of a company when accompanied by the signatures of two officers of the company. Since 1989 it has been possible for a company to indicate its agreement without use of the seal, by two signatures from the directors or company secretary, plus a formal declaration. However, some companies still prefer to use a seal and the articles of a company can override the law and require a seal to be used.

 

Comparative Advantage - A comparative advantage exists when a nation or economic region is able to produce a product at a lower opportunity cost compared to another nation or region. The rule of economics that states that each country should specialize in producing those goods that it is able to produce relatively most efficiently.

 

Compensation Fund - A fund set up by a company or organisation from which to pay people who have suffered loss or hardship which has been caused employees or members of the company or organisation.

 

Compensatory Trade - The sale of goods or services that is paid for by bartering other goods or services.

 

Competition Law - Known as Antitrust law in the US, regulates fair competition between companies, including the control of monopolies and cartels.

 

Competition: Rivalry between companies to achieve greater market share. Competition between companies for customers will lead to product innovation and improvement, and ultimately lower prices.

 

Competitive Advantage - A position a business gains over its competitors.

 

Competitive Advantage:  A distinct characteristic that makes your product or service more appealing than your competitor's

 

Competitor - A business rival, usually one who manufactures or sells similar goods and/or services.

 

The above details describes about terms called in business such as Commercial bill , Commercial Credit,Commission,Commodity Swap,Common Law , Commonwealth, Companies House,Company seal,Competition Law etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in business trade below this post.Terms used in business such as Clearance,Clearing , Clicklexia,Close-end credit,Closing Statement etc

 

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