Insurance coverage taken out by a party to an international transaction to insure against insurance coverage taken by the counterparty. The contingent insurer pays its beneficiary and attempts to collect from primary insurer. For example, a pre-paying buyer purchasing on…
Read MoreContingent Protection
It is all measures put in place to form a certain barrier to trade. They are only imposed if certain harmful circumstances on domestic market appear. (e.g. of those measures anti-dumping or countervailing duties (to offset subsidies) and safeguards).
Read MoreContract guarantee
An agreement by a third party to be responsible for the performance of a contracting party. There are three major types of contract guarantee: tender bonds, performance guarantees, and repayment guarantees. See Uniform Rules for Contract Guarantees; Uniform Rules for…
Read MoreContract manufacturing
Contract manufacturing in international markets is used in situations when one company arranges for another company in a different country to manufacture its products; this is also known as international subcontracting or international outsourcing. The company provides the manufacturer with…
Read MoreContracting parties
Parties that have entered a contract with each other. Countries that are members of the World Trade Organization (WTO) and therefore have accepted the specified obligations and privileges.
Read More