Market Intelligence Introduction

Glossary of Trade Terms

Value Date	The date upon which foreign exchanges bought and sold have to be delivered and the prices payable for them in local currency. Also, date entry to an account becomes effective and subject to interest.
VAT	Value Added Tax.
Vienna Convention	1980 Vienna Convention on the International Sale of Goods. International treaty signed by approximately 45 nations, including most leading trading nations. Amounts to a virtual commercial code for international sales transactions, but excludes contracts for services, securities, electricity, and some others; parties may be able to ‘opt out’ of coverage by the Vienna Convention by explicitly stating so in the contract of sale.
Vostro Account	An account held by a bank with its foreign correspondent bank, in the currency of the bank’s domestic country.

Agricultural and Processed Food Products Export Development Authority (APEDA)
(Ministry of Commerce & Industry, Govt. of India)

NCUI Building 3, Siri Institutional Area, August Kranti Marg, New Delhi - 110 016
Phone : 91-11-41486013, 20863919, 20867008, 20867007