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Sale Salv

Sales agent

A person or a company that acts as a sales agent on behalf of the exporting company (principal), introducing its products to potential buyers in the external market, in exchange for a commission based on the value of the business…

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Sales representative

An individual or firm that serves as the foreign representative of a domestic supplier and seeks sales abroad for the supplier. The Representative carries out his/her activity continuously and is paid by commission based on sales achieved, although on occasions…

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Sales tax

A tax levied on the exchange of goods and services in the process of distribution. See also indirect tax; VAT.

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Salvage

Compensation paid for the rescue of a ship, its cargo or passengers from a loss at sea. The act of saving a ship or its cargo from possible loss. Property saved from a wreck or fire.

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Salvage loss

A method of insurance adjustment where the underwriter pays the difference between the amount of insurance and the net proceeds of the sale of damaged goods. It is sometimes incorrectly assumed that when damaged goods are sold to determine the…

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