Terms used in international trade business such as Euro,european economic community,exchange rate,Ex factory ,EX SHIP

 

Terms used in international trade business such as Euro,european economic community,exchange rate,Ex factory ,EX SHIP etc.

 

 

This post explains about terms used in international trade business such European Commission,Euro,european economic community,exchange rate,Ex factory ,EX SHIP,Exchange rate,Exercise price,EX-IM 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

 

Euro Dollars: US funds deposited in banks outside the United States. This usually means banks in Europe or the European Union.

 

Euro: The single currency of the European Economic and Monetary Union (EMU) introduced in January 1999. EMU members are Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain.

Terms used in international trade  business such as Euro,european economic community,exchange rate,Ex factory ,EX SHIP etc

Eurobonds:A bond placed in countries other that the one in whose currency the bond is denominated.

 

Eurocurrency:Any currency banked outside of its country of origin.

 

Eurodollar:Name for U.S. dollar-denominated deposits and claims held outside the U.S.

 

European Commission - One of the five major institutions of the European Community, the Commission is responsible for ensuring the implementation of the Treaty of Rome and Community rules and obligations; submission of proposals to the Council of Ministers; execution of the Council's decisions; reconciliation of disagreements among Council members; administration of EC policies, such as the Common Agricultural Policy and coal and steel policies; taking necessary legal action against firms or member governments; and representing the Community in trade negotiations with non-member countries.

 

European Community (EC) - One of the three pillars of the European Union (EU) created under the Maastricht Treaty (1992), the customs union of countries in Europe, organizing freedom of movement for goods, services, capital and people.

 

EUROPEAN ECONOMIC COMMUNITY (EEC):An economic grouping of countries also known as the European Common Market, organized by the Treaty of Rome in 1957. Member countries are Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain and the United Kingdom. The EEC was the largest trading bloc in the world until the North American Free Trade Agreement created a larger market beginning in January 1994.

 

European Monetary System (EMS):EU system designed to create a zone of monetary stability in Europe, control inflation, and coordinate exchange rate policies of EU countries.

 

European option:An option that can be exercised only on the expiration date, not during the option period as with an American option.

 

European Union (EU):An economic group of 15 European nations: Austria,Belgium, Great Britain, Denmark, Finland, France, Germany,Greece, the Netherlands, Ireland, Italy, Luxembourg,Portugal, Spain and Sweden.


exchange rate:The rate at which one currency is converted into another.

 

Eurozone:The Eurozone specifically refers to the member countries that belong to the Economic and Monetary Union of European and which have adopted the Euro in place of having a national currency.

 

Ex - From - When used in pricing terms such as "ex factory" or "ex-dock," it signifies that the price quoted applies only at the point of origin (in the two examples, at the seller's factory or a dock at the import point). In practice, this kind of quotation indicates that the seller agrees to place the goods at the disposal of the buyer at the specified place within a fixed period of time.

 

Ex factory - Non-standard trade term, a variation of the preferred formation: EXW Incoterms® 2010.

 

Ex From: It is used in pricing terms in the phrase "ex [location]" (e.g. "ex factory", "ex dock") to signify that the quoted price applies only at the location named (in the two examples, at the seller's factory or a dock at the import point). In practice, this kind of quotation indicates that the seller agrees to place the goods at the disposal of the buyer at the location named within a fixed period of time.

 

EX MILL (EX WAREHOUSE, EX MINE, EX FACTORY): Obligates the seller to place a specified quantity of goods at a specified price at his warehouse or plant, loaded on trucks, railroad cars or any other specified means of transport. Obligates the buyer to accept the goods in this manner and make all arrangements for transportation.

 

EX number: Number preceded by the prefix “EX”, assigned by the DOT, to an item that has been evaluated and classified as an explosive material.

 

EX SHIP: An international trade term meaning that the seller shall make the goods available to the buyer on board the ship at the destination named in the sales contract. The seller must bear the full cost and risk involved in bringing the goods to the buyer.

 

Ex works (EXW) - EXW (named place); Incoterms®rule for when the seller is required to make the goods available at seller’s premises, which commonly is at his factory or warehouse, but may be any place on the seller’s side of the transaction. All other obligations, risk and costs are borne by the buyer including export formalities from the origin country.

 

EX WORKS: An international trade term meaning that the sellers only responsibility is to make the goods available at sellers premises. The seller is not responsible for loading the goods on the vehicle provided by the buyer, unless otherwise agreed. The buyer bears the full cost and risk involved in bringing the goods from there to buyers desired destination. This term thus represents the minimum obligation for the seller.

EXBO:Export Buying Office

 

Exchange control:State control of all payment and asset transactions with foreign countries.

 

Exchange permit - A government permit sometimes required by the importer's government to enable the import firm to convert its own country's currency into foreign currency with which to pay a seller in another country.

 

Exchange rate - Price of one currency in terms of another, that is, the number of units of one currency that may be exchanged for one unit of another currency.

 

Exchange rate: The price of one currency in terms of another.

 

Exchange Regulations/Restrictions:Restrictions imposed by an importing country to protect its foreign exchange reserves. See "Exchange Permit."

 

Excise Tax:A domestic tax assessed on the manufacture, sale, or use of a commodity within a country. Usually refundable if the product is exported.

 

Exd:Examined

 

Exercise price:The price at which the option buyer can purchase (call option) or sell (put option) the underlying currency. Also called the strike price.

 

Ex-Im Bank: The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States. Ex-Im Bank’s mission is to assist in financing the export of US goods and services to international markets. Ex-Im Bank enables US companies — large and small — to turn export opportunities into real sales that helps to maintain and create US jobs and contribute to a stronger national economy.Ex-Im Bank does not compete with private sector lenders but provides export financing products that fill gaps in trade financing. We assume credit and country risks that the private sector is unable or unwilling to accept. We also help to level the playing field for US exporters by matching the financing that other governments provide to their exporters. Ex-Im Bank provides working capital guarantees (pre-export financing); export credit insurance; and loan guarantees and direct loans (buyer financing). No transaction is too large or too small. On average, 85% of Ex-Im Banks transactions directly benefit US small businesses.

EX-IM: The US Export/Import bank.

 

Eximbank - Export-Import Bank of the United States.

 

The above details describes about terms called in international trade business such as European Commission,Euro,european economic community,exchange rate,Ex factory , EX SHIP,Exchange rate,Exercise price,EX-IM 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 as Export ,Export broker,Export credit insurance,Export house,Export invoice, Export Licenses 

 

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