A B C D E F G H I J K L M N O P Q R S T U V W Y Z

About

A letter of credit term meaning plus or minus 10% of whatever immediately follows. The terms approximately and circa are synonymous

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Abrogation

The cancellation of the part of a contract that has not yet been performed. For example, if parties agree to several deliveries of goods, but after the first delivery, war is declared in the buyer´s country and no further goods…

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Absolute advantage

In the theory of international trade an absolute advantage occurs when a country or company is more efficient (using fewer resources) at producing the same good or service than another country or company. This theory was first suggested by British…

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Acceptance

The act of formally acknowledging a debt by signing a financial instrument called a draft. When done by a non-bank party, a trade acceptance is created. When done by a bank, a banker´s acceptance is created. See banker´s acceptance.

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