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Va Ve Vi Vo

Variable levy

A tariff subject to alterations as world market prices change. The alterations are designed to assure that the import cost after the payment of the duty will equal a predetermined “gate” price.

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VAT

The Value Added Tax is a tax assessed on the increased value of goods as they pass from raw material stage through the production and distribution processes to final consumption. The tax on processors or merchants is levied on the…

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Vendor agreement

A vendor agreement is a legal agreement that clearly states the provisions and conditions of the work to be performed by a contractor. The key points to be included in a vendor agreement include date, time and location where the…

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Vienna Convention

Officially known as United Nations Convention on Contract for the International Sale of Good (CISG) is a 1980 international treaty signed by over 80 countries, between them most leading trading nations, that amounts to a virtual commercial code for international…

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