| C. & F. |
|---|
| Cost and freight - a delivery term under which the seller prices his goods to include their cost and the freight costs for delivering them to a named port. Refer to INCOTERMS for standard definition. |
| C.I.F. |
|---|
| Cost, insurance and freight. A delivery term under which the seller prices his goods to include their cost, the freight costs for delivering them to a named port and the cost of insuring them during transit. Refer to INCOTERMS for standard definition. |
| CAC |
|---|
| Compagnie des Agents de Change. The index of largest companies listed on the Paris bourse. |
| CARNET |
|---|
| A customs document allowing temporary importation of goods to a particular territory. Often used for temporary importation goods and equipment for exhibitions, concerts etc. May be issued by chambers of commerce. |
| CAT BOND |
|---|
| Catastrophe bond. An investment instrument issued to raise funds in respect of an insurance against a future catastrophe occurring, such as a hurricane for example. |
| CAT MARK |
|---|
| A standard introduced by the British government as its mark of approval for ISA investment products. The ISAs are measured against three criteria, Cost, Access and Terms. |
| CD |
|---|
| See Certificate of Deposit. |
| CERTIFICATE OF DEPOSIT |
|---|
| A document issued by a bank confirming that it has received a deposit of funds and when it will repay them. |
| CERTIFICATE OF INSPECTION |
|---|
| See Inspection Agency. |
| CERTIFICATE OF ORIGIN |
|---|
| A certificate often issued by chambers of commerce attesting to the origin of manufactured goods. |
| CERTIFICATION |
|---|
| A process normally carried out by embassies, consulates, chambers of commerce or other official bodies whereby documents or signatures and other details borne by documents are confirmed as being authentic. |
| CESCE |
|---|
| Compania Espanola de Seguros de Credito a la Exportacion. The Guaranteeing arm of the Spanish state export credit agency. |
| CHAEBOL |
|---|
| South Korean manufacturing and trading conglomerate. |
| CHAPS |
|---|
| Clearing House Automated Payment System. A same day clearing system for high value payments in Pounds Sterling. |
| CHIPS |
|---|
| Clearing House Inter-Bank Payments System. The real time New York-based clearing system which processes US Dollar payments. |
| CILC |
|---|
| Confirmed Irrevocable Letter of Credit. See Confirmation, Irrevocable and Letter of Credit. |
| CIRR |
|---|
| Commercial Interest Reference Rate, a concessionary interest rate applied to ECA- supported export credit loans. |
| CLAUSED BILL OF LADING |
|---|
| A Bill of Lading that indicates that a cargo was damaged, short-shipped or otherwise impaired at the time it was accepted for shipment. |
| CLEAN ON BOARD BILL OF LADING |
|---|
| A Bill of Lading evidencing that goods were shipped in good order. The opposite of a Claused Bill of Lading. |
| CLEAN REPORT OF FINDINGS |
|---|
| An inspection certificate issued by Societe Generale de Surveillance (SGS) the Swiss based cargo inspection firm. See Inspection Agency. |
| CLUB LOAN |
|---|
| A loan made by a small group of banks, a mini-Syndication. |
| CME |
|---|
| Chicago Mercantile Exchange |
| CMO |
|---|
| Central Money markets Office |
| CMR (NOTE) |
|---|
| "Convention relative au contrat de transport international de Marchandises par Route". A CMR Note is a transport document relating to carriage by road. |
| COLLECTION |
|---|
| An arrangement by which a bank forwards shipping documents provided by a seller to an overseas bank for collection by the buyer. The documents will be released against payment. Also known as a Documentary Collection. |
| COMBINED TRANSPORT DOCUMENT |
|---|
| A transport document covering two or more modes of transport by which goods may be moved. |
| COMECON |
|---|
| The trading bloc formerly made up of the communist countries of eastern and central Europe. |
| COMMERCIAL INVOICE |
|---|
| Invoice issued by the seller, addressed to the buyer, describing the goods or services supplied and showing the price and other details of the commercial transaction. |
| COMMITMENT |
|---|
| An undertaking by a bank that it will make funds available or issue its guarantee. |
| COMMITMENT COMMISSION / FEE |
|---|
| A fee charged by a bank for committing to make funds available or to issue its guarantee. Commitment commissions are usually charged on the basis of the time during which the commitment is remains in place. |
| COMPLIANCE |
|---|
| In banking and financial services this means complying with the rules or laws set out by a regulatory authority which govern the type of business in question. |
| CONFIRMATION |
|---|
| In the context of a Letter of Credit when a bank is requested by a bank Issuing a credit to inspect documents presented and make payment. |
| CONFIRMING BANK |
|---|
| A bank which adds its Confirmation to a Letter of Credit. |
| CONFIRMING HOUSE |
|---|
| A company which makes payment to a supplier on behalf of a buyer because the buyer has insufficient credit strength for a bank to be prepared to issue a letter of credit on its behalf. |
| CONSENSUS |
|---|
| Proper name: Guidelines for Officially Supported Export Credits. An agreement between ECAs governing the terms of their support of export credit guarantees and interest rate subsidies. |
| CONSIGNEE |
|---|
| The party to whom goods are consigned. |
| CONSIGNMENT NOTE |
|---|
| Regarded by many banks as the same as a CMR Note. |
| CONSIGNOR |
|---|
| The party who delivers goods to a freight carrier. It is often a manufacturer or exporter. |
| CONSOB |
|---|
| Commissione Nazionale per la Società e la Borsa. Italian Stock Exchange body. |
| CONVERGENCE |
|---|
| The process of aligning the economic performance of EMU member states prior to joining the single currency. |
| CONVERSION RATES |
|---|
| The irrevocable fixed exchange rates at which 11 European currencies converted to the euro. |
| CORRESPONDENT BANK |
|---|
| A bank in another financial centre with whom a bank may hold an account or co- operate on other forms of business. Thus a German bank may hold an account with a correspondent bank in New York to enable it to pay and receive US Dollars. |
| COUNTERPARTY |
|---|
| A person or company with whom one transacts. E.g. banks involved in a foreign exchange transaction with each other are counterparties. |
| COUNTERTRADE |
|---|
| The generic name for various forms of trade where goods are used to trade with rather than being simply bought or sold for cash. |
| COUNTRY RISK |
|---|
| The risk that a borrower, customer or obligor will not pay on due date because of events, often of a political nature, taking place in his country and which are beyond his control. Also referred to as Political Risk. |
| CREDIT DERIVATIVE |
|---|
| A financial structure added to or deriving from a credit risk to improve its standing. |
| CREDIT RISK |
|---|
| The risk that a borrower, customer or Obligor will not pay on due date. |
| CURRENCY SWAP |
|---|
| A financial instrument which enables one or a series of payments or cashflows to be exchanged for payments or cash flows in another currency. |
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