- V.C. - Valuation clause
- V.L.C.C. - very large crude carrier
- v.o.p. - Value as in original policy
- V.T.S. - Vessel Traffic Systems
- Validated Export License - A document issued by the U.S.
government authorizing the export of commodities for which written
export authorization is required by law. Two types exist: an Individual
Validated License (IVL) and a Special License.
- Value Added Counseling - Valued added counseling is defined
as assessing a company's current international business operations
and assisting a client in one or more of the following: (a) identifying
and selecting the most viable markets; (b) developing an export
market strategy; (c) implementing the export market strategy;
and (d) increasing market presence.
- Value Added Tax (VAT) - A tax which is assessed at each
stage of production on the amount of value contributed at each
stage to the final product.
- Value Date - The date on which payment must be made by
the named bank. This date is determined by the payee, the payer
or the bank.
- Value for Customs Purposes Only - The U.S. Customs Service
defines "value for Customs purposes only" as the value submitted
on the entry documentation by the importer which may or may not
reflect information from the manufacturer but in no way reflects
Customs appraisement of the merchandise.
- Variable Levy - A tariff subject to alterations as world
market prices change, the alterations are designed to assure that
the import price after payment of the duty will equal a predetermined
"gate" price.
- Vd. - Valued
- VER - Voluntary Export Restriction
- Vertical Export Trading Company - An export trading company
that integrates a range of functions taking products from suppliers
to consumers.
- vessel - Ship or boat.
- Visa - Visas are required by many countries for entry
of a foreigner.
- Visa Waiver - A program of selected countries to eliminate
the visa requirement on a test basis.
- Visit USA Committee - A committee of U.S. tourism managers
located in foreign markets. Visit USA Committees work with USTTA
and the U.S. & Foreign Commercial Service in planning and
promoting travel to the U.S.
- VL - Variable Levy
- VLCC - Very large crude carrier
- VO-MTO - Vessel-operating multimodal transport operator
- VOA - Voice of America
- Voluntary Export Restriction - An understanding between
trading partners in which the exporting nation, in order to reduce
trade friction, agrees to limit its exports of a particular good.
Also called voluntary restraint agreement.
- Voluntary Restraint Agreement - Informal bilateral or
multilateral understandings in which exporters voluntarily limit
exports of certain products to a particular country destination
in order to avoid economic dislocation in the importing country
and the imposition of mandatory import restrictions. These arrangements
do not involve an obligation on the part of the importing country
to provide "compensation" to the exporting country, as would be
the case if the importing country unilaterally imposed equivalent
restraints on imports. See: Voluntary Export Restriction.
- VRA - Voluntary Restraint Agreement
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