Terms used in business such as Consular Statement ,Consulate ,Consumer Price,Contestability,Contingent liability etc.
This post explains about terms used in business such as Consignee, Consignor, Consortium , Consular Statement ,Consulate ,Consumer Price,Contestability,Contingent liability,Contra Entry 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
Consideration: Something of value exchanged between parties of a contract; money, services, goods or promises
Consignee / Destinataire :The party such as mentioned in the transport document by whom the goods, cargo or containers are to be received.
Consignee - Party to whom goods are to be delivered.
Consignment - Delivery of merchandise from an exporter (the consignor) to an agent (the consignee) under agreement that the consignee sells the merchandise of the account of the consignor, while the consignor retains title to the goods until the consignee sells them. The consignee sells merchandise for commissions and remits the net proceeds to the consignor.
Consignor - A consignor is an individual entity, partnership or a company that ships its goods to another party to be taken care of. A consignor is usually an exporter.
Consolidate / Consolider :Using direct marketing to transform new and still uncertain buyers into satisfied customers, ready to follow up quickly on their first purchase and recommend you to their friends and neighbors.
Consolidated Income - The sum of income across all of the multinational corporation’s domestic and foreign subsidiaries.
Consolidation - A form of corporate reorganization in which two firms pool their assets and liabilities to form a new company. The term can also be used for shipping, in which a freight consolidator combines shipments of cargo that are less than truckload (LTL) in order to reduce shipping rates.
Consolidation (Consolidated Shipment) / Groupage :Shipment for which an agent (forwarding agent or other) consolidates several individual shipments to make a single shipment in order to benefit from preferential prices.
Consortium - A group of businesses, investors or financial institutions working together on a joint venture.
Constructive Spending - Helping the local economy by buying home produced goods, holidaying in your own country, etc., rather than buying imported goods and holidaying abroad.
Consular invoice / facture consulaire :Some countries require a consular invoice, whose details indicate the goods dispatched and mention the identity of the principal and consignee as well as the value of the shipment. Such invoices are certified by the authorities in the country of destination and must be presented to a customs agent.
Consular Invoice: An invoice signed by the Trade Commissioner or commercial Attache is called a consular invoice.
Consular Statement - A document required by some foreign countries, describing a shipment of goods and showing information such as the consignor, consignee, and value of shipment. Certified by a consular official of the foreign country, it is used by the country's officials to verify the value, quantity, and nature of the shipment.
Consulate - The diplomatic building located in a foreign country that represents the commercial interests of the home country.
Consultant - An expert who is paid by a company, individual, etc., to give advice on developing plans and achieving goals.
Consumer / Consommateur :Person who uses goods, resources or services to satisfy his needs.
Consumer - a person who buys goods or services for their personal use, not as part of a business.
Consumer - An individual who uses goods and services but who may not have been the purchaser.
Consumer Credit - Also called Personal Credit or Retail Credit. Loans given to consumers by financial institutions for household or personal use.
Consumer Debt - Money owed by people in the form of loans from banks or purchase agreements from retailers, such as 'buy now pay later'.
Consumer Panel - A group of selected people, usually a cross-section of a population, whose purchasing habits are monitored by an organization, in order to provide feedback on products, services, etc., which are used.
Consumer Price - The price which the general public pays for goods and services.
Consumer Price Index - CPI. A measure of inflation which involves regularly monitoring the change in price for everyday goods and services purchased by households.
Consumer Protection - Laws which protect consumers against unsafe or defective products, deceptive marketing techniques, dishonest businesses, etc.
Consumer Watchdog - An independent organization that protects the rights of individual customers and monitors companies to check for illegal practices.
Consumption / Consommation :Total value of goods and services purchased by consumers over a given period of time.
Consumption Tax - Tax paid which is based on the price of services or goods, e.g. value added tax.
Container / Conteneur :An item of equipment as defined by the International Organisation for Standardisation (ISO) for transport purposes.
Container Security Initiative (CSI) - The Container Security Initiative was launched in 2002 by the U.S. Bureau of Customs and Border Protection to increase the security of cargo containers shipped to the United States.
Contango - A situation in which the price of a commodity to be delivered in the future exceeds the immediate delivery price, often due to storage and insurance costs.
Contango: The term ‘contango’ is used in the Stock Exchange. It refers to a charge or consideration made by a broker and payable by the buyer of securities of a Stock Exchange.
Contestability:A process where government tests the market to make sure it is providing the public with the best possible solution at the best possible price.
Contiguous United States - The area consisting of 48 states and the District of Columbia which share common borders, as well as the offshore areas outside the boundaries of the coastal states to the extent that such areas pertain to and are subject to the jurisdiction and control of the United States within the meaning of the Outer Continental Shelf Land Act, 43 U.S.C Section 1331, et. seq.
Contingency Fee - In law, a fee that is payable to the lawyer out of any damages which have been awarded to the client by a court. There is no payment if the case is unsuccessful.
Contingency Insurance - Contingency insurance protects the exporter in any situation in which exporter responsibility relied on the buyer to insure, but sustained a loss because of inadequate coverage from that source. It will cover situations in which the FOB endorsement would have otherwise served had that been in force.
Contingent liability - a liability that only needs to be paid if a particular event or circumstance occurs.
Contingent Liability - This is recorded as a debt on a company's accounts which may or may not be incurred, depending on the outcome of a future event, such as a court case.
Continuous Quotation System - A trading system in which buy and sell orders are matched with market makers as the orders arrive, ensuring liquidity in individual shares.
Contra Entry - In accounting, an amount entered which is offset by another entry of the same value, i.e., a debit is offset by a credit.
Contra: Payment from the customer offset against the value of supplies purchased from the customer
Contraband - Goods prohibited by law from being exported or imported. Smuggling.
The above details describes about terms called in business such as Consignee, Consignor, Consortium , Consular Statement ,Consulate ,Consumer Price, Contestability, Contingent liability,Contra Entry 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 Competitor Analysis,Compliance Officer,Compulsory Purchase,Conciliation,Conditions etcTerms used in business such as Competitor Analysis,Compliance Officer,Compulsory Purchase,Conciliation,Conditions etc
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