Jargon beginning with: g

G20: A group of twenty finance ministers and central bank governors from 19 influential countries plus the EU. The 20 members are: Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK and USA

GAAP: Generally Accepted Accounting Principles – a framework of accounting guidelines and principles used in a particular jurisdiction e.g US GAAP

GATT: General Agreement on Tariffs and Trade. The forerunner of the World Trade Organisation (WTO).

GCC: Gulf Co-operation Council - full name: the Cooperation Council for the Arab States of the Gulf. A political and economic co-operation between states bordering the Persian Gulf - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates.

GDP: Gross domestic product.

Geneva Convention on Negotiable Instruments: A body of law governing, among other things, Bills of Exchange. Significantly for discounting operations it allows Endorsers of Bills to avoid liability in the event of default leaving the Drawer of a Bill to bear liability.

GNP: Gross National Product.

Golden Handshake: A final payment or benefit paid to an employee on leaving his/her employment.

Golden Parachute: A sum payable, usually to a senior executive if he/she is forced to leave his/her company, in the event, for example, of a takeover by another firm.

Good Value: The correction of a payment between banks. By altering the date of payment or by paying interest, the payment is effectively received by the payee on the date on which it should have been received.

Grace Days: Days which are added to a transaction to allow for administration delays in the banking system. Commonly used in Forfaiting.

Grace Period: A period of time following an advance under a loan or other financing during which no principal is repaid.

Grant Aid: Gifts of aid by wealthier countries to developing ones not expected to be repaid.

Green Clause Letter Of Credit: A mechanism by which funds may be advanced to an exporter under a Letter of Credit in advance of goods being shipped.

GSP: Generalized System of Preferences. Preferential trade arrangements under which goods from emerging markets receive more favourable import tariff treatment.