The authority to act for another in legal or financial matters. In international, some countries require that a customs broker and/or forwarder have a power of attorney in order to represent a principal for import or export control purposes. For…
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A maximum period set by statute within which a legal action can be brought or a right enforced. A statute may prohibit, for example, any individual or legal entity from bringing an action for breach of contract more than one…
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A Latin term frequently encountered in foreign trade that means “on first appearance.” When a steamship company issues a clean bill of lading, it acknowledges that the goods were received “in apparent good order and condition” and this is said…
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