Glossary on Trade Financing Terms - T

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T

Take-and-pay contract:

A contractual term indicating that the buyer is required to take and pay for goods or services only if delivered.

Français: Contrat du type : "Prend-et-paye"
Español: Contrato de compra contra entrega

A contractual term whereby the buyer is unconditionally obligated to take any product or service that he is offered (and pay the corresponding purchase price), or to pay a specified amount if he refuses to take the product or service.

Français: Contrat du type : "Prend-ou-paye"
Español: Contrato firme de compra, contrato sin derecho de rescisión

Take over:

A general term referring to the transfer of control of a company from one group of shareholders to another group of shareholders.

Français: Prise de contrôle, achat
Español: Adquisición, absorción

Tare weight:

The weight of a container and/or the packing materials holding the shipped merchandise. Compare with Gross weight.

Français: Poids à vide
Español: Tara

Tariff:

A tax imposed by a government on goods as they enter (or leave) the country. It may be imposed for Protectionist reasons and/or to generate revenues for the government. Tariff types include ad valorem, specific, variable or some combination of these. See also duty.

Français: Tarif
Español: Arancel

Tariff anomaly:

A term indicating a situation where a tariff applied on raw materials or semi-manufactured goods is higher than the corresponding tariff on finished products.

Français: Tarif anormal
Español: Anomalía arancelaria

Tariff escalation:

A situation where tariffs on manufactured goods are relatively high, tariffs on semi-processed goods are moderate and tariffs on raw materials are low or non-existent.

Français: Tarif par paliers croissants
Español: Progresión arancelaria

Tariff preferences:

See Preferences.

Français: Tarifs préférentiels
Español: Tariff preferences

Tariff quotas:

A two tier tariff system, i.e. when imports within a set quota may enter at a lower tariff rate than imports exceeding such a quota.

Français: Tarifs par quotas
Español: Contingente arancelario

Tariff schedule:

A comprehensive list of the goods which may be imported into a country, together with the relative tariff rates applicable to each category.

Français: Barème de tarifs
Español: Arancel de aduanas

Tax haven:

A country with low levels of taxation (including on income from foreign sources) and/or liberal tax incentives for undertaking specific economic activities.

Français: Paradis fiscal
Español: Paraíso fiscal

Tax haven subsidiary:

A subsidiary of a company, established in a tax haven in order to minimize the burden of taxation.

Français: Filiale domiciliée dans un paradis fiscal
Español: Filial en paraíso fiscal

Tender; Bid:

A general offer made by a company or a public sector agency for the purchase of specific goods and services. The potential suppliers respond to the tender notice or invitation by submitting their proposals, which specify the technical, commercial and financial aspects of how they would carry out work. See also Open Tender; Restricted Tender.

Français: Soummission, offre
Español: Licitación, oferta

Tender bond:

Another name for a bid bond.

Français: Tender bond
Español: Tender bond

Tender to contract period:

The period of time ranging between the submission of a tender and the actual signature of the contract.

Français: Période comprise entre la soumission et la signature
Español: Período de licitación a contrato

Tenor:

The term established for the payment of a draft or a loan, i.e. the draft or loan's maturity. The tenor may be either

(1) At sight, i.e. payable upon presentation.

(2) Time, i.e. payable at some specified future date, for example thirty days after sight or sixty days after bill of lading date.

Français: Echéance
Español: Vencimiento

Term bonds:

Often referred to as bullet-bonds, whose principal is payable at maturity.

Français: Obligations sans amortissement
Español: Term bond

Term loan:

A business loan with a final maturity of more than one year, payable according to a specified schedule.

Français: Prêt à terme
Español: Préstamo a plazo, crédito a plazo

Terms of trade:

An index expressed as a ratio between the price of exports and the price of imports. When the index rises the terms of trade improve, and vice versa. Broadly speaking, the index measures the purchasing power of a country's exports in terms of the imports it buys (i.e. the quantity of imports which can be bought with the country's export revenues.

Français: Termes de l'échange
Español: Relación de intercambio

Through bill of lading:

A single bill of lading covering the inland transport of a cargo from the point of origin to that of final delivery to the ultimate consignee, when two or more modes of transportation are used. Ocean shipments however usually require two separate documents. i.e. an Inland bill of lading for the domestic carriage and an Ocean bill of lading for international carriage. Through bills of lading cannot, therefore, be used. See also Air Waybill.

Français: Connaissement direct
Español: Conocimiento de embarque directo

Tick:

The minimum price fluctuation of a security or commodity, either up or down.

Français: Tick
Español: Movimiento mínimo de precios, variación de precio

Tied aid credit:

This refers to the practice of providing a grant and/or a concessional loan, either alone or combined with an export credit, which is linked to an export sale from the donor country.

Français: Crédit couplé à une aide
Español: Crédito de ayuda condicionada, crédito de ayuda vinculada

Tied loan:

A loan made by a government agency whereby the foreign borrower is required to spend the related financial resources in the lender's country.

Français: Prêt lié
Español: Préstamo condicionado, empréstito de uso condicionado

Time deposits; fixed term deposits:

Money placed on deposit for a fixed period determined in advance, in return for relatively high interest. This is indicated in the bank's balance sheet together with its fixed due date. This type of deposit may not usually be transferred or withdrawn without notice. If the depositor chooses to withdraw the money before the due time, he sacrifices all or part of the interest. Notice of withdrawal might be waived for small withdrawals. Sometimes referred to as saving deposits. Related: Certificate of deposit.

Français: Dépôts à terme, dépôts à terme fixe
Español: Depósito a plazo, depósito término

Time draft:

A draft calling for payment at a later period than the delivery of the goods or services. Compare with Date Draft, Sight Draft.

Français: Traite à terme
Español: Letra de cambio a plazo

Tolling contract:

Another name for take-or-pay contract.

Français: Tolling contract
Español: Tolling contract

Trade acceptance:

A draft drawn by the seller of goods on the buyer and accepted by the latter for payment at specified future date.

Français: Acceptation commerciale
Español: Aceptación comercial

Trade account:

See Balance of trade.

Français: Compte commercial
Español: Trade account

Trade creditors (UK); Accounts payable (US):

See Accounts payable.

Français: Dettes passives / Créanciers commerciaux (GB)
Español: Cuentas a pagar

Trade related investment measures (TRIMs):

The Agreement on TRIM's, negotiated in the Uruguay Round, recognizes that certain investment measures can restrict and distort trade. It requires countries to phase out TRIM's which have been identified as being inconsistent with GATT rules. The phasing out period, from 1 January 1995, was two years for developed countries, five years for developing countries and seven years for transitional economies.

Français: Mesures au sujet des investissements en rapport avec le commerce (TRIMs)
Español: Medidas en materia de inversiones relacionadas con el comercio (MIC)

Traders:

An individual, or a company, who takes positions on the market with the objective of making a profit, typically consisting of the Spread between the Bid and the Ask price or rate. Traders can make markets by trading the flow. See also Speculators.

Français: Courtiers
Español: Agente

Tranche:

(1) A term used to refer to IMF's borrowing facilities. The reserve tranche refers to the 25% of a member's quota paid in reserve assets.

(2) In security markets, the term indicates a part issue of securities.

Français: Tranche
Español: Tramo

Transfer risk:

The risk that the borrower will not be able to convert local currency into foreign exchange, therefore being unable to make the due debt-service payments. Such risk typically arises from currency exchange restrictions imposed by the government of the borrower's country. This is a particular kind of political risk.

Français: Risque de transfert
Español: Riesgo de transferencia

Transaction costs:

The time, effort and expense involved in the transfer an asset from the seller to the buyer (for example, search costs, commission fees, costs of transport, etc.).

Français: Coût de transaction
Español: Costo de transacción

Transit tariff:

A tax placed on goods transiting (i.e. passing through) a country.

Français: Droit de transit
Español: Arancel de tránsito

Transmittal letter:

A letter containing a detailed description of the shipped goods, the documents being transmitted together with instructions for the use of such documents. Any special instructions are also included.

Français: Lettre de transmission
Español: Carta anexada

Treasury bills (T-Bills):

Short-term papers issued by governments in many countries, with maturity of one year or less.

Français: Bons du Trésor
Español: Bono del Tesoro, letra del Tesoro

Triangular arbitrage:

The process of buying and selling an asset, commodity or foreign exchange at a profit, due to price discrepancies, where three different currencies are involved. See also Arbitrage.

Français: Arbitrage triangulaire
Español: Arbitraje triangular

Trust receipt:

A receipt for goods which are to be held in trust for the lender, who retains title to the merchandise. The lender may release such goods to the buyer, who may use them for manufacturing or sales purposes, with the obligation of maintaining the goods under trust (or the proceeds from their sale) distinct from the remainder of his assets, ready for repossession by the lender.

Français: Reçu fiduciaire
Español: Recibo fiduciario

Trustee:

An individual or company who holds and administers a sum of money or property on behalf an individual, group or organization.

Français: Fiduciaire
Español: Administrador fiduciario, fideicomisario

Turn-Key:

A term used in a construction contract, whereby the contractor has a contractual responsibility to build and hand over to a client a completed and tested plant, operating to specification. The contractor is thus totally responsible for all activities from design through to final completion of the project.

Français: Clé en main
Español: Llaves en mano

Turnover tax:

A form of indirect taxation imposed on a firm's sales revenues.

Français: Taxe sur le chiffre d'affaires
Español: Impuesto sobre el volumen de negocio, impuesto sobre la cifra de venta

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