Terms used in business such as such Forfeiture,Forward Integration, Forward procurement,Forwarding Agents,Foul Bill of Lading etc.
This post explains about terms used in business such Forfeiture,Forward Integration, Forward procurement,Forwarding Agents,Foul Bill of Lading,Franchise Agreement, Franchise,Franchising 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
Forfeit financing / Forfaitage :Forfeiting or forfeit financing is a discount-based financing technique based on del credere discounts (against the exporter) of short-term and long-term export credit, evidenced by commercial papers endorsed or guaranteed by a bank acceptable to the forfeiting banker.
Forfeiture:It is the action of having something taken away as a result of, or as punishment for, doing something wrong. For doing such wrong or illegal act, a person loses title to his property.
Forgery:Forgery is the fraudulent making or altering of a written or printed document to the prejudice of another man’s right. This is done with the intention of deceiving anybody to that person’s detriment.
Fortune 500 - Published by Fortune magazine, an annual list of the 500 US corporations with the largest revenue.
Forward exchange contract / Contrat de Change à terme :Technique to hedge against exchange risks, which allows the bank to guarantee to its client the rate at which it will sell him foreign currency (futures buying) or buy it from him (futures sale), at a future date.
Forward Exchange:It is the contract of a purchase or sale of foreign currency for delivery at a future date at a price agreed upon at the time of arranging for the purchase or sale. By this operation the buyer or seller is protected from any adverse fluctuations in the rate of exchange between the date of the forward contract and the date of delivery.
Forward Foreign Exchange - An agreement to purchase or sell a defined amount of forward currency in the future at a certain fixed rate.
Forward Integration - A business strategy whereby a company takes control of its distributors, therefore guaranteeing the distribution of the controlling company's products.
Forward pricing: the establishment of the price of a share in a mutual fund based on the next asset valuation.
Forward procurement:Advertisements on forward procurement schedules give suppliers an idea of what tenders may be available in the coming year. For example, the Australian Government releases an annual procurement plan that scopes proposed procurements for the coming year (published before 1 July each year). The Queensland Government also publishes notices of potential future procurements on the QTenders website.
Forward rate: an estimate of what an interest rate will be at a specified future time.
Forwarding agent (Forwarder) / Transitaire :The forwarding agent is a professional who organises all the aspects of the carriage of the goods from departure to arrival at destination.
Forwarding Agents:Persons who are” employed to collect, deliver and otherwise forward goods on behalf of others are called forwarding agents. With the expansion of, business, many manufacturers take recourse to middlemen (forwarding agents) who -would • relieve the manufacturers from the troubles of collecting, goods from suppliers and delivering goods to the destination.
Forwarding company - Also called a 'freight forwarder', a company specialising in transfer of freight from businesses or individuals by finding an appropriate transporter of the goods.
Foul Bill of Lading - A receipt issued by a carrier to the exporter making use of its services which, to reduce the carrier's liability, notes that the goods were in some way damaged, short in quantity, or improperly packaged.
Four-Colour Process - In printing, the use of four ink colours - yellow, magenta, cyan and black - which are combined together to produce the whole spectrum of colours.
Fractional Ownership - An arrangement where a number of people or companies each buy a percentage of an expensive asset, such as a property. The individual owners then share the asset, and when it is sold the profits are distributed back to the owners.
Franchise Agreement - An agreement in which a domestic company (the franchiser) licenses its trade name and/or business system to an independent company (the franchisee) in a foreign market.
Franchise chain: a number of retail outlets operating the same franchise. A franchise chain may vary in size from a few to many thousands of outlets and in coverage from a small local area to worldwide.
Franchise fees: Cash paid to a franchiser for the use of a franchise
Franchise/Franchising - An authorization or licence - effectively a business methodology, which can be bought - enabling someone (franchisee) to use the franchisor's company name and trademarks to sell their products services, etc., and usually to receive certain support, in a particular town, area of a country, or international region. A franchise for a whole country is typically called a master franchise, and typically may include rights to operate as a sub-franchisor responsible for developing and managing a franchise network. The term derives from the term franc, Old French for free, which was adopted into English corporate law in the late middle-ages to signify a grant of legal immunity, which in turn grew in legal application and technical meaning to become franchising, whereby a franchisor grants licence to a franchisee to make use of its business methods, products, brands, technologies, innovation, purchasing power, marketing, etc. Some extremely well-known large corporations have grown using the franchise model, for example, Mcdonald's, Subway, Avis, and Hilton Hotels. While franchising can theoretically be applied to any market sector, it typically entails reliable replication of high quality products/services, supported by clever/protected technology, patents, branding, together with proven training, marketing and business support. Most franchises emerge at the beginning of their respective product life-cycle, when innovation and novelty is significant, and barriers to market entry are challenging. As such, many entrepreneurs decide that franchising offers an appealing option compared to starting up a business completely independently from nothing. When innovation and novelty has declined in major established franchise organizations, market appeal and position is subsequently maintained by exploiting strengths of brand(s), marketing, and financial strength.
Franchise: an agreement enabling a third party to sell or provide products or services owned by a manufacturer or supplier. The franchise is regulated by a franchise contract, or franchise agreement, that specifies the terms and conditions of the franchise.
Franchise: An agreement under which the franchiser (owner of the rights) licenses the franchisee (the business owner) the right to sell a given product/service or to use certain trademarks or trade names, usually within a designated area
Franchised trade / Commerce associé :Franchised trade involves forming groups of traders in order to increase their individual purchasing capacity and to strengthen their position between upstream wholesalers and downstream consumer associations. There are three main forms of franchised trade: groups of retailers, voluntary retail buying chains and franchises.
Franchising / Franchise :Franchising is a concept first developed in the United States. It defines a form of long-term contractual co-operation between two legally independent entities (the franchiser and the franchisee) with a view to marketing goods, services or techniques. The franchiser pledges to help the franchisee in the technical, commercial or accounting fields. In return, the franchisee pays an entry fee and royalties on an annual basis. He is also obliged to comply with quality standards laid down by the franchiser and to participate in promotional operations organized by the latter. For the franchiser, this type of contract is a good means of breaking into a market without having to pay real-estate costs. The franchisee, for his part, can implement a sophisticated trade concept without having to pay for all the development costs.
Franchising - A parent company grants another independent entity the privilege to do business in a pre-specified manner, including manufacturing, selling products, marketing technology and other business approach.
Franchising - commercial agreements that allow one business to deal in a product or service controlled by another. For example, most car manufacturers give franchises to sell their cars to local garages, who then operate using the manufacturer's brand.
Franco:Franco means free delivery. When a franco price is quoted, it includes the price of goods and all sorts of expenses incurred for delivery of the same from the seller’s warehouse to the buyer’s warehouse.
The above details describes about terms called in business such as Forfeiture,Forward Integration, Forward procurement,Forwarding Agents,Foul Bill of Lading,Franchise Agreement, Franchise,Franchising 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 trade such as Force Majeure,Foreign Bottom,Foreign Branch, Foreign Exchange Rate,Foreign Exchange etc
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