glossary on trade financing terms g

Français: GATS Español: GATS GATT: See General Agreement on Tariffs and Trade.. Français: Accord Général sur les Tarifs Douaniers et le Commerce AGETAC Español: Acuerdo General sobre Ara

GATS:

See General Agreement on Trade in Services

Français: GATS

Español: GATS

GATT:

See General Agreement on Tariffs and Trade

Français: GATT

Español: GATT

GDP:

See Gross Domestic Product

Français: GDP

Español: GDP

Gearing:

This indicates the degree of a company’s indebtedness The most common measures of corporate indebtedness are the debt ratio (measuring the share of the company’s capital which is in the form of debt) and the debt-equity ratio(the ratio between the company’s debt and the equity provided by its shareholders) The higher the gearing ratios, the more critical is the company’s financial situation and the more vulnerable it is to bankruptcy The term gearing may also refer to the ratio

between ordinary shares and preference shares in the company’s equity The expression "income gearing" refers to the proportion of the company’s profits used to pay interest The US expression for gearing isleverage

Français: Effet de levier

Español: Apalancamiento

General Agreement on Tariffs and Trade (GATT):

An international agreement, established in January 1994, providing the legal framework for

international trade, whose primary mission is the reduction of barriers to free trade between

member countries The GATT is now managed by the World Trade Organisation, based in Geneva, Switzerland

Français: Accord Général sur les Tarifs Douaniers et le Commerce (AGETAC)

Español: Acuerdo General sobre Aranceles Aduaneros y Comercio (GATT )

General Agreement for Trade in Services (GATS):

Created in the Uruguay Round as a comprehensive system establishing multilaterally-agreed and legally enforceable rules and disciplines covering international trade in services The Agreement contains a framework of general rules and disciplines, annexes addressing special conditions relating

to individual sectors and liberalization commitments specific to the service sectors listed in each country's schedule

Français: Accord Général pour le Commerce des Services

Español: Acuerdo General sobre el Comercio de Servicios (AGCS)

General Arrangement to Borrow:

A credit line set up in 1962 by the Group of Ten on behalf of the International Monetary Fund Until January 1983, this credit line was limited to loans to G10 members but since then it has been open to all IMF members

Français: Disposition Générale pour Emprunter

Español: Acuerdos Generales para la Obtención de Préstamos (AGP)

General creditor:

An unsecured creditor

Français: Créancier général

Español: Deudor general

General Export License:

This gives its holder the right to export to specified countries without requiring any additional formal application or prior written authorisation Compare with Validated Exports License

Français: Licence d’Exportation Générale

Español: Licencia general de exportación

General tariff:

A tariff which applies to countries which do not enjoy preferential or Most Favoured Nation

(MFN) tariff treatment Where the general tariff rate differs from the MFN tariff rate, the general tariff rate is usually the higher

Français: Tarif général

Español: Arancel general

Generalized System of Preferences (GSP):

A preferential trade framework under which exports of developing countries are allowed to enter the markets of industrialised countries at a lower preferential tariff rate However, the GSP framework includes a number of important exceptions, mainly in relation to exports of textiles and agricultural goods from developing countries In general, the GSP is one element of a co-ordinated effort by the industrial trading nations to bring developing countries more fully into the international trading system

Français: Système Généralisé des Préférences (Privilèges)

Español: Sistema Generalizado de Preferencias (SGP)

Gilt-edged bonds:

Highly rated bonds, whose issuers have a long-standing reputation of paying interest on time See also Gilt-edge securities

Français: Obligations de premier ordre

Español: Gilt-edged bonds

Gilt-edged securities:

A UK term indicating the loans made to the government This type of security is considered

practically "risk free", since the risk of default associated with the government is the lowest possible Some types of gilt-edged securities are known also as Treasury bills

Français: Titres de premier ordre

Español: Gilt-edged security

Giro:

A payment system set up by a group of banks or postal authorities which allows customers of one bank to make payments to customers of any other bank without the use of cash or cheques The customer simply needs to fill in an instruction form which is passed through a central clearing system operated by the group

Français: Giro

Español: Giro bancario, transferencia bancaria

Global policy:

A credit insurance policy which covers all export activities of the exporter during an agreed period, usually one year

Français: Police globale

Español: Póliza global

Global quota:

An import quota applying to the total imports of a specific product coming from all countries

Français: Quota global

Español: Contingente global

GNP:

Gross National Product.

Français: PNB

Español: GNP

Good delivery:

A term used in purchase or sales contracts indicating that the merchandise, securities or precious metals which are the object of the transactions meet the general delivery conditions of the market Français: Bonne livraison

Español: Buena entrega

Grace period:

The period during which no repayments of principal (sometimes principal plus interest) are due from the borrower to the lender With reference to public sector debt rescheduling, it indicates the period, usually of several years, during which no payments (either principal or interest) need to be made See also rescheduling agreement

Français: Période de grâce

Español: Período de gracia, período de amortización diferida

Grant element:

A measure of the degree of concessionality of a loan It is defined by the OECD's Development Assistance Committee (DAC) as the difference between the face value of the loan and the present value of the stream of repayment on that loan (discounted at a flat rate of 10 percent regardless of the currency of denomination), expressed as a percentage of the face value

Français: Elément de subvention

Español: Factor concesionario, factor de donación

Green clause credit:

A clause in a letter of credit enabling the buyer to receive pre-shipment advances against a collateral represented by, for example, warehouse receipts/warrants It is commonly used in the export of agricultural commodities, where the company may raise funds to harvest new crops for export by pledging available stocks as collateral

Français: Crédit à clause verte

Español: Carta de crédito con cláusula verde

Gross:

The total amount of money given before any deductions have been made For example, Gross income refers to income before taxation, Gross Domestic Product indicates the value of a country's output of goods and services before any deduction is made for the depreciation of the country's capital investment or for taxation Opposite: Net

Français: Brut

Español: Bruto

Gross Income:

See Gross

Français: Revenu Brut

Español: Ingreso bruto

Gross interest:

Interest paid before deductions for withholding tax are made from the original amount Opposite: net interest

Français: Intérêt brut

Español: Interés bruto

Gross Domestic Product (GDP):

A measure of the market value of all goods and services produced in a given country during the reference period of time, regardless of the asset’s ownership Unlike Gross National Product, GDP excludes receipts from that country’s assets invested abroad, such as the earnings of foreign affiliates

of domestic corporations

Français: Produit Intérieur Brut (PIB)

Español: Producto interno bruto (PIB)

Gross National Product (GNP):

A measure of the value of a nation's output of goods and services during a particular time period produced by domestic assets It thus includes the revenues from the country’s business operations conducted abroad, as well as earnings from foreign investments Nominal GNP measures the value of output expressed in present day prices, while Real GNP measures output value in constant prices (i.e taking account of inflation) The latter is the better indicator of the country’s economic growth Français: Produit National Brut (PNB)

Español: Producto Nacional Bruto (PNB)

Gross profit:

The difference between a company’s sales revenues and its production costs (such as inventories, raw materials, wages, etc.) before taxation

Français: Profit brut

Español: Beneficio bruto

Gross weight:

The full weight of a shipment, including both goods and packaging Compare with Tare weight Français: Poids brut

Español: Peso bruto

Gross yield:

The revenue produced by investments (such as securities, real estate, property, etc.) before any deductions, such as for charges or taxes, are made Net yield is the opposite

Français: Rendement brut

Español: Rendimiento bruto, producto bruto

Group of Ten:

The group of wealthy industrial countries ready to lend their currencies to the International

Monetary Fund under the General Agreements to Borrow, up to specified amounts when

supplementary resources are needed The finance ministers of these countries comprise the Group

of 10 Its members include: Belgium, Canada, France, Germany, Italy, Japan, The Netherlands, Sweden, Switzerland, the United Kingdom and the United States The numerical name persists, although the number has increased to 11 with the addition of Switzerland in 1984

Français: Groupe des dix

Español: Grupo de los Diez

Guarantee:

A contractual engagement protecting the holder of the guarantee against default, bankruptcy or failure of a third party The guarantor will pay the debt to the obligee if the third party (principal debtor or obligor) fails to perform It also refers to the commitment provided by an Export Credit Agency to reimburse the lender (frequently a commercial bank) if the exporter fails to repay a loan

In return for this coverage, the lender pays a guarantee fee Although guarantees may be

unconditional, they frequently have conditions attached to them

Français: Garantie

Español: Garantía

Guarantee credit:

A bank credit not involving the actual provision of funds by the bank, but rather the bank’s

assumption of liabilities or obligations on behalf of its customers, e.g bill guarantee, acceptance or surety credit Compare with money loan

Français: Garantie de crédit

Español: Crédito de garantía

Guarantee Fee:

A fee charged by an Export Credit Agency to provide assurance of payment or compliance by a third party Sometimes also called Premium

Français: Honoraires, commission de garantie

Español: Comisión de garantía

Guaranteed bond:

A bond issue where a third party (e.g parent company) guarantees the fulfilment of the terms of the issue

Français: Obligation garantie

Español: Obligación garantizada

Guaranteed credit:

A credit secured by one or several guarantees In some European countries, special guarantee co-operatives have been founded for this purpose, such as mortgage guarantee co-co-operatives The bank usually requires joint and several guarantees before agreeing to extend credit

Français: Crédit garanti

Español: Crédito garantizado