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Business Terminology

Business Terminology Rules of Origin
Rules of origin

Rules of origin are specific provisions designed to establish origin of good. They are important as duties & restrictions may depend upon source of imports....

Contract Farming
Contract farming

The Food & Agriculture Organization defines contract farming as an agreement between farmers and processing and/or marketing firms for the production and supply of agricultural products under forward ...

TPCI IPR
Business Terminology – Intellectual Property Rights (IPR)

Intellectual property rights enable people to earn benefits from what they invent/create, but are challenged by differing legal interpretations and policy approaches across countries....

Cost Insurance and Freight

A common method of import and export shipping, CIF determines when the responsibility for goods transfers from the seller to the buyer. It is an expense borne by a seller to cover the costs, insurance...

Most Favoured Nation

Most Favoured Nation is a non-discriminatory trade policy that requires a country to provide any concessions, privileges, or immunities granted to one nation in a trade agreement to all other WTO memb...

TPCI Letter of Credit
Letter of Credit

The letter from the bank serves as a shield for the buyers & sellers as it seeks to evenly distribute risk between both the parties....

Certificate of Origin
CERTIFICATE OF ORIGIN (COO)

Certificate of Origin is a key international trade document that certifies that goods in a particular export shipment are wholly obtained, produced, manufactured or processed in a particular country. ...

Exclusive Economic Zone (EEZ)

Exclusive Economic Zone (EEZ) is defined as generally extending 200 nautical miles from shore, within which the coastal state has the right to explore and exploit, and the responsibility to conserve a...

Custom duty
Authorised Economic Operator (AEO)

The World Customs Organisation defines an Authorized Economic Operator (AEO) as a party involved in the world-wide movement of goods, in whatever function, that has been approved by, or on behalf of, ...

Free trade area
Free trade area

The Organisation for Economic Co-operation and Development (OECD) defines a free trade area as “a grouping of countries within which tariffs and non-tariff trade barriers between the members are gen...

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