|| To relinquish a right: used in collections
with BC charges and/or interest to be collected from
the drawee: these can be waived in certain circumstances
as set out in ICC 522.
|| A form declaring goods imported and placed in a
bonded warehouse. Duty payment may not be required
until the importer withdraws the goods.
|| A receipt issued by a warehouse listing goods received
|| Refers to economic policies being put forth by
the US Administration and Congress as well as the
Washington DC-based International Monetary Fund and
World Bank. Some of the elements of this Consensus
are trade liberalization, privatization, deregulation,
etc. that are often applied to all countries and all
situations. See also neoliberalism and globalization
|| A charge assessed by a pier or dock owner for handling
incoming or outgoing cargo.
|| A term indicating that a shipper's agent or representative
is empowered to make definitive decisions and adjustments
abroad without approval of the group or individual
||A Wharfinger is a keeper or owner of a wharf. The
Wharfinger takes custody and is responsible for goods
delivered to the wharf. Click
here to learn more.
||An acknowledgement of the receipt of goods by the
wharfinger. It has no legal value.
|| Officially called the International Bank for Reconstruction
and Development, this bank was established in 1944
to provide loans for the reconstruction of Europe.
In the 1970s the World Banks' focus shifted to assist
in the reconstruction and development of its poor
members by facilitating capital investment, making
loans, and promoting foreign investment. The Bank
has historically focused on large infrastructure and
other development projects. Like the International
Monetary Fund, the World Bank has a set of strict
requirements for economic policy reform before making
grants or loans(see SAPs).
|World Trade Organization (Wto)
|| The World Trade Organization, established in 1995
as the successor to the 1948 General Agreement on
Trade and Tariffs, administers trade agreements, provides
a forum for trade negotiations, and monitors national
trade policies for the 147 member countries. The overall
aim of the WTO is to reach a single framework of rules
for trade and "trade-related" activities.