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FrançaisA no longer valid Incoterms, but still used for some traders when goods are delivered in railway station in the seller´s country. The suitable term from Incoterms rules is FCA Free Carrier. See Incoterms. Practical Guide to Incoterms.
Read MoreForce majeure clause
A contract clause that excuses who breaches the contract when performance is prevented by the occurrence of certain events such as natural disasters (earthquakes, floods), war or labor strike, that is beyond the party´s reasonable control. If a force majeure…
Read MoreForeign currency
The currency of any foreign country which is authorized medium of circulation and the basis for record keeping in that country. Foreign currency is traded by banks either by the actual handling of currency or checks, or by establishing balances…
Read MoreForeign currency account
An account maintained in a foreign bank in the currency of the country in which the bank is located. When such accounts are kept, they usually represent that portion of the carrying bank´s foreign currency account that is in excess…
Read MoreForeign exchange
Current or liquid claims payable in foreign currency and in a foreign country (bank balances, checks, bills of exchange). Not to be confused with foreign bank notes and coin, which are not included in this definition.
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