Bretton-Woods Agreement of 1944



Bretton-Woods Agreement of 1944 :




Break Bulk Cargo

Conventional, uncontainerized cargo that is shipped in units of one (such as uncontainerized machinery or trucks) or shipped in units or packages (such as palletized or boxed cargo).

(U.S. Customs) Cargo that is not containerized and that can¬not be classified as ‘bulk” cargo under the U.S. Customs and Border Protection definition. For example, new and used ve¬hicles are considered break bulk cargo. Although uniform in nature, vehicles have identifying marks (such as a Vehicle Identification Number, or VIN). One necessary aspect of bulk cargo is fungibility (goods that are identical with others of the same nature). The presence of a VIN removes that compo¬nent from the shipment of new or used vehicles.

It is important to note that the difference between bulk and break bulk is based not only on the type of cargo, but also on the way in which the cargo is stowed or loaded. For ex¬ample, bananas stowed loosely in a hold (not in boxes or containers) is considered bulk. Palletized boxes of ba¬nanas loaded directly into a hold (but not loose or contain¬erized) is considered break bulk - bulk cargo


Breakage

A monetary allowance or credit that a manufacturer agrees to give a buyer to compensate for damage caused to goods during transit or storage

A fractional amount due as part of a payment to a party, such as pennies that re¬sult from a computation of interest on a loan or deposit.


Breakbulk - shipping

To unload and distribute a portion or all of the contents of a consolidated shipment for delivery or recon¬signment.


Break-Even Point – banking / foreign exchange

The price of a financial instru¬ment at which the option buyer recovers the premium, mean¬ing that he makes neither a loss nor a gain. In the case of a call option, the break-even point is the exercise price plus the pre¬mium, and in the case of a put option, the exercise price mi¬nus the premium – option - call option - put option


Bretton-Woods Agreement of 1944 – banking / foreign exchange

Articles of agreement adopted by the international monetary conference of 44 nations which met at Bretton Woods, New Hampshire in 1944. The International Monetary Fund and the International Bank for Reconstruction and Development were created as a result of this agreement. The Fund’s major responsibility was to maintain orderly currency practices in international trade, while the Bank’s function was to facilitate extension of long-term investments for productive purposes - Bretton-Woods System - International Monetary Fund - International Bank for Reconstruction and Development


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