Terms used in shipping such Foreign Availability ,Foreign Branch Office ,Foreign Buyer Program,Foreign Corrupt Practices Act

 

Terms used in shipping such Foreign Availability ,Foreign Branch Office ,Foreign Buyer Program,Foreign Corrupt Practices Act etc.

 

 

This post explains about terms used in shipping such as Food For Progress,Force Majeure,Foreign Access Zone,Foreign Agricultural Service,Foreign Assets Control , Foreign Availability ,Foreign Branch Office ,Foreign Buyer Program,Foreign Corrupt Practices Act 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 shipping

 

Food For Progress - The "Food for Progress" program, established by the 1985 Farm Bill, is carried out by the Department of Agriculture, using the authority of either Public Law 480 or Section 416 of the Agricultural Act of 1949. The program donates surplus government-owned agricultural commodities or Title I (of P.L. 480) funds to needy countries for development and agricultural reform purposes. Food for Progress operates in a less restrictive manner than either P.L. 480 or Section 416. See: Food for Peace Section 416.

 

FOR/FOT - Free on Rail/Free on Truck

 

FOR:Abbreviation for "Free on Rail."

 

FOR:Free on Rail

 

Force Majeure - Circumstance which is beyond the control of one of the parties to a contract and which may, according to the terms and conditions, relieve that party of liability for failing to execute the contract.

 

Terms used in shipping such Foreign Availability ,Foreign Branch Office ,Foreign Buyer Program,Foreign Corrupt Practices Act etcFORDTIS - Foreign Disclosure and Technical Information System

 

Fore and Aft:The direction on a vessel parallel to the center line.

 

FORECASTLE:The raised part of the forward end of a ship’s hull. The inside space may be used for crew accommodation or quarters, though on new ships this space is being used for the storage of paints, tackle, deck and engine stores, tarpaulins, etc.

 

Foreign Access Zone - FAZ is a term adopted by Japan for its form of free trade zone. FAZs are the outgrowth of Japan's effort to improve its trade balance and to stimulate regional economic areas. FAZs are intended to be established around airports and seaports, with facilities (warehouses, cargo-sorting, distribution, import processing, wholesale, design-in centers, exhibition halls) on an international scale. The FAZ concept -- which emphasizes imports rather than the processing and job creation -- extends from the July 1992 Law on Extraordinary Measures for the Promotion of Imports and the Facilitation of Foreign Direct Investment in Japan. Passage of the law is linked to the Structural Impediments Initiative (SII). See: Free Trade Zones Structural Impediments Initiative.

 

Foreign Affairs Administrative Support - The FAAS program is the mechanism used by the Department of State (DOS) to define the additional costs it incurs for providing services necessary to support the overseas operations of agencies external to DOS. Under FAAS, DOS funds core costs required for its own programs while the supported agencies fund incremental costs of their service requirements. These latter costs are shared through the application of workload factors which measure agency participation in the services.

 

Foreign Affiliate - See: Affiliate.

 

Foreign Affiliate of a Foreign Parent - A foreign affiliate of a foreign parent is, with reference to a given U.S. affiliate, any member of the affiliated foreign group owning the U.S. affiliate that is not a foreign parent of the U.S. affiliate.

 

Foreign Agricultural Service - The FAS, an agency of the U.S. Department of Agriculture, collects foreign market information regarding agricultural production and trade, develops foreign markets for U.S. agricultural products, and represents U.S. agricultural interests overseas and in multilateral fora. FAS maintains over 60 counselor and attache posts, located in U.S. embassies and consulates, and about fifteen Agricultural Trade Offices (ATOs) which provide market development and trade promotion services in overseas locations. FAS also administers USDA's export credit and concessional sales programs. FAS headquarters are located in Washington, D.C.

 

Foreign and Commonwealth Office - The FCO, equivalent to the U.S. State Department, is Britain's Diplomatic Service, with posts in about 170 countries. Among its functions, the FCO supports overseas trade and export promotion services in cooperation with Britain's Department of Trade and Industry.

 

Foreign Assets Control - The Treasury Department's Office of Foreign Assets Control, OFAC, administers sanctions programs involving specific countries and restricts the involvement of U.S. persons in third country strategic exports.

 

Foreign Assistance Act of 1991 - This Act replaced the Support for East European Democracy (SEED) Act. The Foreign Assistance Act allows support to 26 countries, including all East European nations and most of the Soviet republics, but not to the Soviet Union itself.

 

Foreign Availability - The Bureau of Export Administration conducts reviews to determine the foreign availability of selected commodities or technology subject to export control. The reviews use four criteria to determine foreign availability: comparable quality, availability-in-fact, foreign source, and adequacy of available quantities that would render continuation of the U.S. control ineffective in meeting its intended purpose. A positive determination of foreign availability means that a non-U.S. origin item of comparable quality may be obtained by one or more proscribed countries in quantities sufficient to satisfy their needs so that U.S. exports of such item would not make a significant contribution to the military potential of such countries. A positive determination may result in the decontrol of a U.S. product that has been under export control, or the approval of an export license. However, the control may be maintained if the President invokes the national security override provision of the Act. Beginning with the 1977 amendments to the Export Administration Act, the Congress directed that products with foreign availability be identified and decontrolled unless essential to national security. In January 1983, a program to assess the foreign availability of specific products was established within the Office of Export Administration, now the Bureau of Export Administration, or BXA. Further, 1985 amendments to the Act directed that an Office of Foreign Availability be created.

 

Foreign Bank Supervision Enhancement Act - The FBSEA, passed in 1991, increased the Federal Reserve's supervisory powers over foreign banks by: (a) requiring Federal Reserve review before a foreign bank enters or expands in the United States; (b) tightening the standards for entry and expansion that must be considered by the Federal Reserve; (c) requiring Federal Reserve Board approval of U.S. representative offices of foreign banks; and (d) requiring that each U.S. office of a foreign bank be examined at least once a year by the Federal Reserve. See: International Banking Act.

 

Foreign Branch Office - A sales (or other) office maintained in a foreign country and staffed by direct employees of the exporter.

 

Foreign Broadcast Information Service - FBIS and the Joint Publication Research Service (JPRS) publish political, military, economic, environmental, and sociological new, commentary, and other information, and scientific and technical data reports. All FBIS and JPRS information is obtained from foreign radio and television broadcasts, news agency transmissions, newspapers, books, and periodicals.

 

Foreign Buyer Program - The Foreign Buyer Program, FBP, is a joint industry-International Trade Administration program to assist exporters in meeting qualified foreign purchasers for their product or service at trade shows held in the United States. ITA selects leading U.S. trade shows in industries with high export potential. Each show selected for the FBP receives promotion through overseas mailings, U.S. embassy and regional commercial newsletters, and other promotional techniques. ITA trade specialists counsel participating U.S. exhibitors.

 

Foreign Claims Settlement Commission - The FCSC is authorized to determine claims of United States nationals for loss of property in specific foreign countries. These losses have occurred either as a result of nationalization of property by foreign governments or from damage and loss of property as a result of military operations in specific conflicts. The Commission is an independent quasi-judicial agency within the Justice Department.

 

Foreign Corrupt Practices Act - The FCPA prohibits U.S. individuals, companies and direct foreign subsidiaries of U.S. companies from offering, promising, or paying anything of value to any foreign government official in order to obtain or retain business.

 

Foreign Direct Investment in the United States - Foreign direct investment in the United States is the ownership or control, directly or indirectly, by a single foreign person (an individual, or related group of individuals, company, or government) of 10 percent or more of the voting securities of an incorporated U.S. business enterprise or an equivalent interest in an unincorporated U.S. business enterprise, including real property. Such a business is referred to as a U.S. affiliate of a foreign direct investor. See: Committee on Foreign Investment in the United States Foreign Person Portfolio Investment.

 

Foreign Disclosure and Technical Information System - FORDTIS is a classified information system that contains an automated database of munition and dual-use export licenses. The system is maintained by the Defense Department's Defense Technology Security Administration. See: Defense Technology Security Administration Export Control Automated Support System.

 

The above details describes about terms called in shipping such as Food For Progress,Force Majeure,Foreign Access Zone,Foreign Agricultural Service,Foreign Assets Control , Foreign Availability ,Foreign Branch Office ,Foreign Buyer Program,Foreign Corrupt Practices Act 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 shipping business below this post.Terms used in shipping such as Flatbed,Full Liner Terms,Free On Board,FOB Airport,FOB Freight Allowed

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