Independent entity

Independent entity

Constituted jointly by the International Federation of Inspection Agencies (IFIA), representing preshipment inspection agencies, and the International Chamber of Commerce (ICC), representing exporters, this body administers an independent review procedure under the Agreement on Preshipment Inspection to resolve disputes between an exporter and a PSI agency.

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Part of Speech: noun
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Industry/Domain: Economy
Category: International trade
Organization: WTO
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United Nations Center for International Trade Law (UNCITRAL)

Economy; International trade

An international body that drafts model laws such as the one on government procurement.

Uruguay Round

Economy; International trade

Multilateral trade negotiations launched at Punta del Este, Uruguay in September 1986 and concluded in Geneva in December 1993. Signed by Ministers in Marrakesh, Morocco, in April ...

variable levy

Economy; International trade

Customs duty rate which varies in response to domestic price criterion.

voluntary restraint arrangement (VRA)

Economy; International trade

Bilateral arrangements whereby an exporting country (government or industry) agrees to reduce or restrict exports without the importing country having to make use of quotas, ...

waiver

Economy; International trade

Permission granted by WTO members allowing a WTO member not to comply with normal commitments. Waivers have time limits and extensions have to be justified.

Washington Treaty

Economy; International trade

Treaty for the protection of intellectual property in respect of lay-out designs of integrated circuits.

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