Terms used in business such as Clearance,Clearing , Clicklexia,Close-end credit,Closing Statement etc.
This post explains about terms used in business such as Clearance,Clearing , Clicklexia,Close-end credit,Closing Statement,Coercion,Collecting Bank ,Collective agreement ,Co-located 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
Clearance - The completion of customs entry requirements that results in the release of goods to the importer.
Clearance sale / Soldes :An event held by a trader to dispose of old stock, usually at reduced prices, to make way for new stock.
Clearing / Verification :Administrative procedure which constitutes the final stage of a customs or accounting transaction and whereby it is possible to check, by comparing the documents, whether the formalities have been accomplished correctly.
Clearing - The settlement of a transaction, often involving exchange of payments and/or documentation.
Clearing House Interbank Payments System (CHIPS) - Financial network through which banks in the United States conduct their financial transactions.
Clearing House: In the course of daily transactions, each bank has to receive a number of cheques drawn on other banks. When the value of these cheques received by each bank is calculated and compared, it is found that some banks become indebted to other banks. These debts are settled through a department of the central bank, which is known as a clearing house.
Click Farm - A supplier of fraudulent website traffic/visitors - typically an organized and exploited group of low-paid workers who are tasked to visit websites to post false reviews/comments or to click on PPC adverts so as to generate fraudulent clickthrough advertising revenues.
Clicklexia - Ironic computing slang for a user's tendency to double-click on items when a single click is required, often causing the window or utility to open twice.
Clicks and brick: a business strategy that involves combining the traditional retail outlets with online commerce.
Clicks And Mortar - Also known as Clicks and Bricks. Refers to businesses which trade on the Internet as well as having traditional retail outlets, such as shops.
Clickstream - A record of an internet user, including every web site and web page which have been visited, and e-mails sent and received.
Click-Through/Clickthrough/'Clickthru' - When a person clicks on an advertisement on a web page which takes them to the advertisers website. See PPC.
Clip-Art - Ready made pictures of computerised graphic art which can be copied by computer users to add to their own documents.
Close Company - In the UK, a company which is controlled by five or less directors.
Close corporation: a public corporation in which all of the voting stock is held by a few shareholders, for example, management or family members. Although it is a public company, shares would not normally be available for trading because of a lack of liquidity.
Close-end credit: a loan, plus any interest and finance charges, that is to be repaid in full by a specified future date. Loans that have real estate or motor vehicles as collateral are usually closed-end.
Closer Trade Relations Trade Agreement - An accord between Australia and New Zealand designed to facilitate the exchange of goods between the two countries. It was signed on January 1, 1983.
Closing Costs: The costs of seller and buyer at conveyance of business and property (These can include accounting and legal fees as commissions to a business broker or intermediary.)
Closing Statement: A written accounting of funds to seller and buyer at passing of papers
CND: Cash next delivery
CNIL / CNIL :The French data protection authority (Commission Nationale Informatique et Libertés). Its responsibility is to protect privacy and individual and public freedom. For this purpose, the organization is in charge of surveying all files.
COA :Uniform Chart of Accounts.
COD / COD :Cash On Delivery is a system of payment wherein the carrier collects the amount due and ensures its repatriation. This system is to be used only if the exporter is sure that the buyer will accept the goods and if the consignments are packages with a low unit value.
COD :Cash on delivery
Code-Sharing - An arrangement between different airlines in which they all agree to carry passengers on the same flight using their own flight numbers.
Codex Alimentarius Commission - An organization created in 1963 by the Food and Agriculture Organization and the World Health Organization to develop food standards, guidelines and related texts such as codes of practice under the Joint FAO/WHO Food Standards Program.
Coercion - Forcing someone, by some method or other, to do something or abstain from doing something against their will.
Collateral - see Security.
Collateral Security: A commercial bank is a type of an organization that deals in credit i,e. it accepts deposits from the public withdraw able by a cheque and it advances, short-term loans.
Collateral: property or goods used as security against a loan and forfeited to the lender if the borrower defaults.
COLLATERAL: An asset that can be sold for cash and which has been pledged to a creditor to secure a future obligation. (For example, if you finance a car it is the collateral for the loan).
Collecting Bank - A bank that acts as the agent of the seller to collect payment from the buyer and then transfer the payment to the seller's bank.
Collective agreement - a term used for agreements made between employees and employers, usually involving trade unions. They often cover more than one organisation. Although these can be seen as contracts, they are governed by employment law, not contract law.
Collectivist Society - A society in which people feel more comfortable thinking and acting in groups.
Collusion - An agreement (usually secret) among mostly oligopolistic competing firms in an industry to control the market, raise the market price, and otherwise act like a monopoly.
Co-located - Any access installation that is directly connected to a Sprint Point of Presence without utilizing the network services of a local access carrier or another interexchange carrier.
Combined Ratio - In insurance, a way of measuring how much profit has been made by comparing the amount of money received from customers to the amount paid out in claims and expenses.
Combined transport / Transport Combiné :Intermodal transport where the main leg is by rail, navigable waters or sea and where the initial and/or final legs of the journey take place by road over the shortest possible distance.
Comfort letters - documents issued to back up an agreement but which do not have any contractual standing.
Command Economy - An economy based on government ownership and/or control of society's resources; during the 20th century, the dominant form of command economy was communism.
Commercial Bank - A bank whose primary function is to accept demand deposits (which can be withdrawn upon depositories' demand), and grant short-term and long-term loans.
The above details describes about terms called in business such Clearance,Clearing , Clicklexia,Close-end credit,Closing Statement,Coercion,Collecting Bank ,Collective agreement ,Co-located 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 Channel Of Distribution,Chart of accounts,Charter Party,Chattel Mortgage,Circular Cheque etc
Related posts about free online training on export and import trade:
How to import your product?
Click here to know HS code of your product
12 Major risks and solutions in Imports and Exports
Different types of export containers
How to get GSP certificate of origin in India?
Types of export containers
Foreign Trade Policy of India 2015-20
Procedure for import of Vanaspati, Bakery etc to India
Preferential Trade Agreements in India
Can export benefits be claimed with payment through insurance companies?
Address of government offices for Special Economic Zone
Master prepaid house prepaid
Material used for testing is eligible for Modvat
Mode of payments in international trade
Mode of transport under EX WORKS/FCA/CPT/CIP/DAT/DAP/DDP/FAS/FOB/CFR/CIF
MSDS Material Safety Data Sheet
Multiple Country Textile Declaration
Negotiation procedures and formalities of export bills
Non receipt of Cargo Arrival Notice, Can importer sue against shipping company