Foreign Trade Transaction

Foreign Trade Transaction

 

a transaction that involves import-export operations relating to the exchange of goods, services, products of creative activity, and so forth, in which at least one of the parties is a foreign citizen or foreign juristic person. The basic types of foreign trade transactions are contracts of sale, work contracts, contracts of carriage, contracts of agency, and commissions.

In the USSR, foreign trade transactions are effected by all-Union foreign trade associations; other persons have the right to effect such transactions only by special permission of the government of the USSR. The rights and duties of parties to foreign trade transactions are determined by the laws of the place in which the transactions are effected, unless established otherwise by an international treaty or agreement to which the USSR adheres or by an agreement of the parties. The form of the foreign trade transactions effected by Soviet organizations and the procedure for signing the transactions are determined by Soviet legislation, regardless of where the transactions are effected.

References in periodicals archive ?
The procedures are performed even-handedly and in parallel between the entities involved in a specific foreign trade transaction, with everyone continuously informed of progress.
The Eurasian Development Bank (EDB) and Alfa Bank signed an agreement to finance foreign trade transactions of Alfa Banks clients.
In addition to this, the banking sector has collected $47 billion since the flotation from foreign trade transactions, CBE's sub-governor Tarek Fayed said in September.
Tunisia had previously proposed the simplification of custom fees on agricultural products by transforming these taxes into studied rates to facilitate the Tunisian products' access to markets and to consolidate transparency of foreign trade transactions.
However, since documents are negotiated and L/Cs are settled through the formal banking sector, banks are required to enhance their capacity to process foreign trade transactions with extreme care and diligence, he said.
Primary responsibility in this regard lies with Pakistan Customs, however, since documents are negotiated and L/Cs are settled through formal banking sector, banks are required to enhance their capacity to process foreign trade transactions with extreme care and diligence.
Our current annual foreign trade transactions ratio to GDP is one of the highest worldwide.
Money laundering occurs through the Venezuelan government currency control regime, commercial banks, exchange houses, gambling sites, fraudulently invoiced foreign trade transactions, smuggling, real estate, agriculture and livestock businesses, securities transactions, and trade in precious metals.
The bank focuses on foreign exchange transactions since it was established in 1978 to handle payments by North Korean companies for their foreign trade transactions.
Therefore, in Iran's foreign trade transactions with other countries, for the past year and a half it has been using the currencies of those other countries.
Foreign trade transactions during the previous two events totalled 12 billion U.
foreign trade transactions, using documentary letters of credit and guarantee operations.

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