Glossary on Trade Financing Terms - U

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U

Ultimate consignee:

The final recipient of the shipped goods, who will use them for the designated end use.

Français: Consignataire final
Español: Destinatario final, consignatario final

Underlying:

The "something" (commodity, security, foreign exchange etc.) that the parties agree to exchange in a Derivative contract.

Français: Sous-jacent
Español: Subyacente

(1) In security markets, the financial institution which agrees to purchase an unsubscribed new issue of securities at an agreed price on a fixed day with a view to selling it publicly, for an underwriting fee.

(2) In an insurance contract, the insurer who underwrites the policy.

Français: Syndicataire
Español: Suscriptor, Asegurador

Unfair calling cover:

An insurance cover to compensate for loss, in case of an unfair call of a Bid bond by the overseas buyer.

Français: Appel injustifié à la couverture
Español: Cobertura de ejecución injusta

Unit of account:

A benchmark against which to base the value of payments. It is a specially defined unit, rather than a real payment medium, used in international payments.

Français: Unité de compte
Español: Unidad de cuenta

Unit of currency:

The monetary unit of a country (e.g. US dollar) or of an international monetary system (e.g. ECU).

Français: Unité monétaire
Español: Unidad de moneda

Unitary tax:

A taxation system whereby taxes are calculated on a percentage basis of a company's world-wide operations, rather than on the profits made in the area where the taxing authorities are located.

Français: Taxe unitaire
Español: Impuesto unitario

Unit costs:

The costs per unit produced. Can be used to analyse a company's performance.

Français: Coûts unitaires
Español: Costos unitarios

Unsecured credit:

A credit extended without the pledge of collateral, usually for a highly creditworthy borrower. Opposite: Secured credit.

Français: Crédit non-garanti
Español: Crédito al descubierto, crédito no garantizado

Use-or pay contract:

Another term for take-or-pay contract.

Français: Contrat du type "Utilisez-ou-payez"
Español: Use-or pay contract

Usuance; Usuance draft:

The same as tenor.

Français: Usuance; Usuance draft
Español: Usuance; usuance draft

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