Glossary on trade financing terms b

Glossary on trade financing terms b bao gồm các khái niệm tài chính, kinh tế bắt đầu bằng B. Đây là tài liệu hữu ích cho các bạn trong việc đọc hiểu văn bản hoặc cho các bạn phiên biên dịch hay làm việc trong lĩnh vực kinh tế, tài chính.

Back bond:

A Eurobond created by the exercise of a warrant Also known as a virgin bond

Français: Back bond

Español: Bono garantizado

Back-to-Back Letter of Credit:

A letter of credit issued for the account of a buyer of merchandise already holding a letter of credit inhis favour The back-to-back L/C is issued in favour of the supplier of the merchandise to cover the shipment stipulated in the L/C already held by the buyer The terms of L/Cs, except for the amount and expiration date, are similar, and the same documents presented under the "back to back" L/C aresubsequently used against the L/C in favour of the buyer However, the buyer or beneficiary of the first credit, substitutes his draft and invoice for those presented by the supplier

Français: Lettre de crédit "Back-to-Back"

Español: Carta de crédito garantizada

Back to back loan:

A loan in which two companies in different countries borrow each other's currency for a specific timeperiod, with repayment of the other's currency at an agreed maturity This technique allows

companies to eliminate or reduce their foreign exchange risks Also known as a Parallel loan

Français: Prêt "Back to back"

Español: Préstamo cruzado en divisas, crédito con garantía de otro crédito

Bad debt:

A non-performing loan i.e a loan which is not repaid To absorb losses arising from bad debts over a period of time, banks usually set aside provision out of their profits

Français: Mauvaise dette, dette irrécouvrable

Español: Deuda incobrable, deuda morosa, crédito fallido

on investments), and the capital account, reporting direct and portfolio investments and capital flows

in general

Français: Balance des paiements

Español: Balanza de pagos

Balance of payments deficit:

A negative imbalance of some specific components within the balance of payments

Français: Déficit de la balance des paiements

Español: Déficit de la balanza de pagos

Balance of payments surplus:

Opposite of Balance of payments deficit

Français: Excédent de la balance des paiements

Español: Superávit de la balanza de pagos, excedente de la balanza de pagos

Balance of trade:

The monetary difference between a country's total imports and its exports If exports exceed importsthe country experiences a favourable balance of trade Also known as merchandise trade balance.Français: Balance commerciale

Español: Balanza comercial

Balance of trade deficit/surplus:

When the value of a country's exports is lower/higher than that of its imports

Français: Balance commerciale déficitaire/excédentaire

Español: Deficit/Superávit de la balanza comercial

Balance Sheet:

A complete double entry account statement of assets and liabilities drawn up by an enterprise on a specific date (usually at the end of a fiscal year) Total liabilities always equal total assets The asset side of the balance sheet provides information on the use of the company's funds The liabilities’ sidedetails sources of external financing (i.e cash, money market loans and advances, etc) and the composition of the shareholders' equity Compare with Profit and loss statement

Français: Balloon maturity

Español: Requisito de fondo de amortización

Balloon repayment:

A loan whose repayments are not spread evenly over its life Interest payments are accumulated and are paid along with the principal in one lump sum at the end of the loan period

Français: Remboursement unique

Español: Reimbolso balloon

Bank(er's) Acceptance; Bank bill:

A draft or bill of exchange whose acceptor is a bank When accepted for payment by a bank it becomes a banker's acceptance and may be used by the drawer or payee as collateral, or may be sold and discounted Such an arrangement originates on the initiative of the importer, who instructs his local bank to provide for a commercial acceptance credit to the bank of the exporter The bank of the exporter then issues an acceptance credit, in effect guaranteed by the foreign bank, to the exporter under which he may draw a time bill of exchange maturing in 60 or 90 days Supported by the documents demonstrating the shipment, this bill of exchange is then accepted by the bank which endorses it, thus signifying that it will pay the bill at maturity The exporter may retain the bill until maturity or sell it on the discount market This technique is frequently utilized in the financing

of foreign trade, making possible the payment of cash to an exporter covering all or a part of the value of his shipment When the amounts involved are large and in support of commodity

transactions the banker’s acceptance can be placed on the market and sold through a syndicate of banks

Français: Acceptation bancaire, effet bancaire

Español: Aceptación bancaria, letra bancaria

Bank commission:

A bank charge for special services (credit commission) or for risk coverage, added to the interest on loans extended to its clients

Français: Commission bancaire

Español: Comisión bancaria

Bank discount rate:

(1) The rate at which a bank discounts notes A rate quoted on a discount basis understates bond equivalent yield This difference must be calculated when comparing the return on yields on a discount basis and equivalent coupon securities

(2) A technique of evaluating the yield of short-term non-interest-bearing money market securities tomake them comparable with equivalent coupon securities

Français: Taux d'escompte bancaire

Español: Tasa de descuento bancario, tasa oficial de descuento

Bank draft:

An international transfer of funds through an instrument very similar to a cheque

Français: Transfert bancaire

Español: Giro bancario

Bank for International Settlements (BIS):

An international bank based in Basel, Switzerland, serving as a forum for monetary co-operation between several European central banks, the Bank of Japan and the U.S Federal Reserve System.Français: Banque des Règlements Internationaux (BRI)

Español: Banco de Pagos Internacionales, BPI

Bank guarantee:

A guarantee, issued by the bank of the foreign purchaser, to pay the seller/exporter up to an agreed percentage of the value of the goods shipped in case of default by the purchaser See also Letter of credit

Français: Garantie bancaire

Español: Garantía bancaria, fianza bancaria, aval bancario

Bank-issued medium-term note:

A medium-term certificate of indebtedness, issued by a bank on demand, with maturities ranging between 2 to 8 years

Français: Papier bancaire à moyen terme

Español: Pagaré a mediano-plazo emitido por el banco

Bank notes:

Promissory notes issued by the Central Bank, payable to the bearer on demand

Français: Papiers bancaires

Español: Billete bancario

Bank release:

A negotiable time draft drawn on and accepted by a bank, which adds its credit and standing to that

of the importer

Français: Traite à terme

Español: Descargo bancario

Banker's Bank:

A bank established by consent by independent and unaffiliated banks as a clearing house for financialtransactions

Français: Banque des banquiers

Español: Banco de banqueros

Banker's draft:

This is an order from a buyer/importer to his bank to make a payment to the bank of the

seller/exporter The draft is sent to the exporter who presents it to his bank for payment It is

regarded as cash and cannot be returned unpaid The exporter's bank in return presents it to the buyer's bank for reimbursement

Français: Chèque bancaire

Español: Giro bancario, letra bancaria

Bank for International Settlements:

See BIS

Français: Banque pour les Réglements Internationaux

Español: Banco de Pagos Internacionales, BPI

Français: Monnaie de base

Español: Divisa de referencia

Base lease term:

The underlying term of the lease used by the lessor in computing interest payments and regarded by the lessee as the minimum time period during which he will have the use and custody of the

equipment

Français: Délai de base du bail

Español: Período de arrendamiento de base

Français: Point de base

Español: Puntos básicos

Basis swap:

An interest rate swap from one floating instrument into a non floating instrument in the same currency, undertaken to eliminate or minimize interest-rate risk

Français: Swap de base

Español: Swap de índices, intercambio de índices

Bearer bond:

A bond whose owner is not registered on the books of the issuer Such bonds are held in physical form by the owner, who receives payments by physically detaching coupons from the bond

certificate and handing them to the paying agent All Eurobonds are issued in bearer form

Français: Obligation au porteur

Español: Bono al portador, obligación al portador

Bearer mortgage note:

A mortgage debt instrument or note, issued in a bearer form The holder of the instrument or note atany time is the creditor

Français: Cedule hypothécaire au porteur

Español: Pagaré de hipoteca al portador

Español: Beggar-my-neighbour policy

Below par:

A share or a bond whose market value is below its nominal value or face value A bond will be rated below par when the market interest rates are higher than at the time the bond was issued This may

also happen if investors are sceptical about the creditworthiness or future prospects of the company

or government which has issued the bond Opposite: Above par

Français: Au dessous du pair

Español: Por debajo de la par, por debajo de su valor nominal, por debajo de la paridad

Berne Union (International Union of Credit and Investment Insurers):

An association founded in 1934, gathering over 40 export credit agencies from developing and industrialised countries The Union works for sound principles in the export credit insurance

business, through the exchange of information, constant consultation and close co-operation

between its members The agencies participating in the Berne Union do so as insurers and not as representatives of their respective governments

Français: Union de Berne (L’Union Internationale des assureurs de Crédit et d’Investissement)

Español: Unión de Berna (Unión Internacional de Aseguradores de Crédito e Inversiones)

Beta:

An indicator of the risk of a share or a portfolio in relation to the average market risk A Beta of 0.7 implies that the yields of the share or portfolio are likely to move up or down by 70% of the average market change A Beta of 1.2% indicates that such yields are likely to move up or down 20% more than the average market change Beta is an index of systematic risk, i.e risk linked to general market conditions which cannot be diversified See also Alpha

Français: Beta

Español: Beta

Bid; Buying price:

The price or the terms on which a person is willing to buy (e.g securities, commodities, foreign exchange etc.) Opposite: Asked price, Offer See also Tender

Français: Cours acheteur

Español: Cotización de compra, precio de compra, precio de oferta

Bid Bond:

A guarantee by a party (usually a bank) on the order of the seller, to pay a part of the bid

price (usually 5-10%) as compensation to the buyer should the seller, having accepted the bid by the buyer, be unwilling or unable to fulfil the tender terms and undertake the corresponding delivery or performance contract Bid bonds are frequently used in export financing See also Guarantee bonds.Français: Caution de soumission

Español: Fianza de licitación, caución de licitación, aval de oferta

Bid bond coverage:

An insurance or guarantee which protects the supplier or issuing bank from the unjustified or capricious calling of the bid bond

Français: Garantie de couverture

Español: Cobertura de la fianza de licitación

Bid rate:

The lower range of interest rate quotations, i.e the interest rate a bank is prepared to pay for deposits or to acquire securities

Français: Taux demandé

Español: Tipo comprador

Bilateral Agreements:

Agreements reached bilaterally between a debtor country and each of the creditor countries participating in a Paris Club rescheduling The agreements establish the legal basis of the Debt rescheduling, as set forth in the Agreed Minute, specify the interest rate on amounts deferred or rescheduled, etc.

Français: Accords bilatéraux

Español: Acuerdos bilaterales

Bilateral deadline:

The date by which all of the Bilateral agreements must be concluded The period for concluding bilateral agreements is usually around six months from the date of the Agreed Minute

Français: Date limite bilatérale

Español: Fecha límite bilateral, plazo máximo bilateral

Bilateral investment treaty (BIT):

A bilateral treaty meant to ensure national or most-favoured-nation treatment for foreign

investments deriving from the partner country BITs ensure the right to make investment-related transfers and assign top managers in the foreign country without regard to their nationality They also guarantee that expropriation takes place only in accordance with accepted international rules, and access to impartial and binding international arbitration for the settlement of disputes

Français: Traité d’investissement bilatéral (TIB)

Español: Tratado bilateral sobre inversiones

Bill for collection:

A bill of exchange presented to a bank for collection (and not for discounting) On collection the countervalue of the bill is credited to the account of the client

Français: Effet à l’encaissement

Español: Letra por cobrar

Bill guarantee:

A commitment, generally by signature of the document, to honour a bill of exchange if the specified signatories fail to do so

Français: Garantie d’un effet

Español: Garantía de la letra

Bill of Exchange (Draft):

An instrument of payment frequently used in international business It is an unconditional written order signed by the exporter and addressed to the importer to pay, on demand or at a specified future date, a stipulated monetary sum to the exporter See also Commercial paper, Draft, Letter of credit

Français: Lettre de change (Traite)

Español: Letra de cambio, giro

Bill of Lading (B/L):

A document setting out the terms of the contract between the exporter of the goods and the carrier, under which the freight is to be transported from the port of shipment to that of destination The B/Lserves as a document of title, a contract of carriage and a receipt of goods Its holder has the right to gain possession of the shipped goods

There are two main types of B/L:

(1) Straight bill of lading: A non-negotiable B/L, under which the goods are handed directly to the stipulated consignee

(2) Negotiable or Shipper's order bill of lading: This can be bought, sold or traded while the goods are

in transit, or used to support a Letter of credit transaction To take possession of the shipped goods, the final holder of the B/L needs the original or a copy as proof of ownership

See also Air Waybill, Inland Bill of Lading, Ocean Bill of Lading, Through Bill of Lading, Claused Bill of Lading, Clean Bill of Lading, Foul Bill of Lading

Français: Connaissement

Español: Conocimiento de embarque

Bill renewal:

Prolonging the validity of a bill by postponing its expiry date

Français: Effet renouvelable

Español: Renovación de la letra

See Bank for International Settlements

Français: Banque pour les Réglements Internationaux

Español: Banco de Pagos Internacionales

Black economy:

Transactions of goods and services which are not declared for tax payment and which neither show

up in trade statistics nor are taken into account in the calculation of the Gross National Product (GNP)

Français: Economie de l’ombre

Español: Economía sumergida