Countertrade
English Legal System: Countertrade
In the context of the English law, A Dictionary of Law provides the following legal concept of Countertrade :
A form of trading in which an exporter of goods or services undertakes to accept goods or services (rather than money) from the importer in exchange.
Countertrade in Global Commerce Policy
In this regard, countertrade is: a more sophisticated and sometimes highly complex form of barter trade. For example, a country may export coal and accept mining equipment in payment. No money changes hands in this transaction. The buyer of the coal then seeks to place it in a third market in exchange for payment or some other product. Goods to be traded in this way are usually valued in a third-country currency, e.g. Swiss Francs, for accounting purposes. Countertrade is an inefficient way to trade, but it has sometimes been attractive to countries experiencing severe foreign exchange shortages. See also compensation trade.[1]
Countertradein the wold Encyclopedia
For an introductory overview on international trade policy, see this entry.
Resources
Notes and References
- Dictionary of Trade Policy, “Countertrade” entry (OAS)
See Also
Hierarchical Display of Countertrade
Trade > Trade > Trading operation
Meaning of Countertrade
Overview and more information about Countertrade
For a more comprehensive understanding of Countertrade, see in the general part of the online platform.[rtbs name=”xxx-xxx”]
Resources
Translation of Countertrade
- Spanish: Comercio de compensación
- French: échange compensé
- German: Kompensationshandel
- Italian: Scambio di compensazione
- Portuguese: Trocas compensadas
- Polish: Handel kompensacyjny
Thesaurus of Countertrade
Trade > Trade > Trading operation > Countertrade
Leave a Reply