| Ocean Bill of Lading |
A receipt for the cargo and a contract for transportation issued by an ocean carrier. When issued in negotiable form, it is also an instrument of title. |
| Offer |
1. A proposal that is made to a certain individual or legal entity to enter into a contract, that is definite in its terms, and that indicates the offerer's intent to be bound by an acceptance.
2. With respect to securities, the price at which one is ready to sell. |
| Office Of Export Licensing (OEL) |
An agency under the Bureau of Industry and Security that administers export licenses. |
| Office Of Management And Budget |
An executive office of the President which evaluates, formulates and coordinates management procedures and program objectives within and among federal departments an agencies. It also controls the administration of the federal budget. |
| Offer |
1. A proposal that is made to a certain individual or legal entity to enter into a contract, that is definite in its terms, and that indicates the offerer's intent to be bound by an acceptance.
2. With respect to securities, the price at which one is ready to sell. |
| Official Development Assistance |
Official Development Assistance Financial flows to developing countries and multilateral institutions provided by official government agencies. |
| Offshore Bank |
A bank located in a country other than the bank which owns it. The owning bank is usually in a major country and the "offshore bank" in a smaller country. |
| Offshore Banking Center |
A financial center where many of the financial institutions have little connection with that country's financial system, but have located themselves there to benefit from less regulation and/or lower taxes. |
| Old-To-Market |
(USA) This is a term used by the International Trade Administration to define larger scale firms who are committed and experienced in export trade and have export sales often in excess of 15% . |
| On Board |
Notation on a bill of lading indicating that the goods have been loaded on board a named ship. |
| On Deck Bill Of Lading |
An ocean bill of lading containing the notation that the goods have been loaded on the deck of the vessel. |
| Open Account |
Credit extended that is not supported by a note, mortgage, or other formal written evidence of indebtedness. |
| Open Conference |
A shipping conference in which there are no restrictions upon membership other than ability and willingness to serve the trade and abide by the rules of the conference. |
| Open Economy |
An economy free of trade restrictions. |
| Open-End Contract |
An agreement by which the buyer may purchase an unspecified amount of goods from a seller over a certain period of time without changes in the price or the contract terms. |
| Operator of Foreign Trade Zone |
(USA) A corporation that operates a foreign trade zone under the terms of an agreement with a foreign trade zone grantee. |
| Order |
1. A request to deliver, sell, receive or purchase goods or services.
2. An instruction, command or direction authoritatively given.
3. A designation of the person to whom a bill of exchange is to be paid, or delivery of goods made, or a bill of lading consigned (A key word which makes a document negotiable.)
4. A rank, class or division of men. |
| Order Bill |
A bill of lading that states that goods are consigned "to the order" of the person named, or simply "to order" (of no one in particular.) Such a bill of lading is a negotiable document. |
| Order Notify |
A bill of lading which is negotiable because it is consigned to "order" with no entity named; but it does have a named party indicated to whom the carrier is expected to send a notice of arrival. |
| Outright |
Free from reserve or restraint; direct; positive; downright; altogether; entirely; openly. |
| Over the Counter |
Securities trading which takes place outside the normal Security Exchanges. |
| Overnight |
The period in which settlement is required on a transaction such as a currency trade or a swap - on the next business day after the transaction. |
