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Economy

Pertaining to the system or range of economic activity in a country, region, or community.

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Economy > International trade

Devaluation

Economy; International trade

The official lowering of the value of one country's currency in terms of one or more foreign currencies. For example, if the U.S. dollar is devalued in relation to the French ...

Deferred payment credit

Economy; International trade

Type of letter of credit providing for payment some time after presentation of shipping documents by exporter.

Date draft

Economy; International trade

A draft that matures in a specified number of days after the date it is issued, without regard to the date of acceptance. See Draft, Sight draft, and Time draft.

Customs

Economy; International trade

The authorities designated to collect duties levied by a country on imports and exports. The term also applies to the procedures involved in such collection.

Customhouse broker

Economy; International trade

An individual or firm licensed to enter and clear goods through customs.

Credit risk insurance

Economy; International trade

Insurance designed to cover risks of nonpayment for delivered goods. Compare Marine insurance.