Terms used in international trade business such as Movement certificate,multidomestic strategy,Multi-Fiber Agreement, Multilateral Agreement etc.
This post explains about terms used in international trade business such as Most Favored Nation ,Movement certificate,multidomestic strategy,Multi-Fiber Agreement, Multilateral Agreement,multinational enterprise,NAFTA Origin ,Negotiable B/L,National Treatment,NAFTA 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 international trade business
MM:Made Merchantable
MMA:Merchandise Marks Act
MN:Merchant Navy
MNC:Multinational corporation
MO - Money order.
MOLOO:More or Less at Owners Option
Most Favored Nation (MFN) - Commitment that a country will extend to another country the lowest tariff rates it applies to any other country. All contracting parties undertake to apply such treatment to one another under Article I of GATT. When a country agrees to cut tariffs on a particular product imported from one country, the tariff reduction automatically applies to imports of this product from any other country eligible for most-favored nation treatment. This principle of nondiscriminatory treatment of imports appeared in numerous bilateral trade agreements prior to establishment of GATT. A country is under no obligation to extend MFN treatment to another country unless both are bilateral contracting parties of the General Agreement on Tariffs and Trade or MFN treatment is specified in a bilateral agreement.
most favoured nation :one of the countries that a particular country agrees to give the most advantages to in its international trade
Movement certificate: required where goods are being exported from the EU to a country covered by EU trade agreements. These certificates ensure preferential rates of duty on an exporter's goods.
MPC:Multi Purpose Vessel
Mst or msm:Measurement
MT:Metric Tonne
MTCR - See Missile Technology Control Regime.
MTN:Multilateral Trade Negotiations
MTO - See Ministry of International Trade and Industry.
MTO - See Multimodal transport operator.
MTO:Multimodal Transport Operator
MTS (Multilateral Trading System): the processes through which large numbers of countries agree to trade with each other. The World Trade Organisation is part of this system.
multidomestic strategy:Emphasizing the need to be responsive to the unique conditions prevailing in different national markets.
Multi-Fiber Agreement - International umbrella compact, authorized by the General Agreement on Tariffs and Trade (GATT), that allows contracting parties to negotiate bilaterally quantitative restrictions on textile imports (which normally would be considered contrary to GATT provisions) to the extent the importing country considers them necessary to prevent market disruption. The Uruguay Round Agreement on Textiles and Clothing contains an agreed schedule for the gradual phase-out of quotas established pursuant to the MFA over a ten-year transition period, after which textile and clothing trade will be fully integrated into the GATT and subject to the same disciplines as other sectors.
Multilateral Agreement - International compact in which three or more parties participate.
Multimodal transport bill of lading - Bill of lading used for carriage whenever there are at least two different forms of transport, such as shipping by rail and by sea.
Multimodal transport operator (MTO) - Carrier who concludes multimodal transport contracts; i.e. contracts involving transport by more than one mode of carriage, and for which the MTO accepts liability as a carrier.
multinational enterprise (MNE):A firm that owns business operations in more than one country.
Multiple exchange rate - Several countries operate systems by which different exchange rates are used for different transactions.
MULTIPLE EXCHANGE RATES: A number of countries operate systems by which different exchange rates are used for different transactions.
MV or mv:Motor Vessel
N/A - Not applicable.
N/F - No funds.
N/S/F - Not sufficient funds.
N/T:Nett Terms
NAFTA Documentation and Procedures - This book provides a complete overview of NAFTA regulations and their implications for trade with Mexico, Canada and the United States.
NAFTA Origin - Enter “MX,” “CA,” or “US” for textile and agricultural goods exported to a NAFTA country. For all other items, enter “MX,” “CA,” or “US” if the goods originate in that NAFTA country (per Annex 302.2, and if subsequent processing in another NAFTA country does not increase the transaction value of the items by more than seven percent). If the item results from a joint production between Mexico, Canada, or the U.S., enter “JNT” (for co-production).
NAFTA: A Practical Guide to Regulation, Documentation & Procedures - This publication helps businesses understand the NAFTA and to develop practical business processes for participating in the free trade agreement. The book was designed predominantly with U.S. exporters and importers in mind.
NAFTA: North American Free Trade Agreement, involving Canada, the United States and Mexico. Implemented January 1, 1994.
Named Point:See "Specific Delivery Point."
National Treatment: The concept that countries must afford foreign companies the same access and other benefits they do local domestic firms.
NATS:National Air Traffic Services
NCND - See Non-circumvention non-disclosure agreement.
NCTE: Customs and Excise's new computerised transit system, introduced in 2003.
NCV - No commercial value.
ND;No Discount
NDPS:National Data Processing Service
ne - Not exceeding.
NE:Not Exceeding
NEC:Not Elsewhere Classified
Negotiable B/L - Original Bill of Lading endorsed by shipper that is used for negotiating documents with bank.
The above details describes about terms called in international trade business such as Most Favored Nation ,Movement certificate,multidomestic strategy,Multi-Fiber Agreement, Multilateral Agreement,multinational enterprise,NAFTA Origin ,Negotiable B/L,National Treatment,NAFTA etc. These phrases may help importers and exporters on their day to day export import business activities. The readers can also add more information about terms used in international business trade below this post.Terms used in international trade business such Master Lease,Mercantilism,Microbridge,Middle Market,Minilandbridge,Missile Technology Control Regime
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