What Is a Bilateral Tax Agreement? A bilateral tax agreement, a type of tax treaty signed by two nations, is an arrangement between jurisdictions that mitigates the problem of double taxation that can occur when tax laws consider an individual or company to be a resident of more than one country. A bilateral tax agreement
What Is Bilateral Trade? Bilateral trade is the exchange of goods between two nations promoting trade and investment. The two countries will reduce or eliminate tariffs, import quotas, export restraints, and other trade barriers to encourage trade and investment. In the United States, the Office of Bilateral Trade Affairs minimizes trade deficits through negotiating free trade
What Is Bill and Hold? A bill and hold is a type of sales arrangement that enables payment ahead of the delivery of the item. It constitutes a sales arrangement in which a seller of a product bills a customer for the product upfront but does not ship the product until a later date. For
What is Bill Announcement? Bill announcements are published by the U.S. Treasury to announce the terms of the next bill auction and must contain the date and time of the auction, as well as the amount of bills to be tendered. Key Takeaways Bill announcements are published weekly by the U.S. Treasury to announce the terms of
What Is a Billing Cycle? A billing cycle is the interval of time from the end of one billing statement date to the next billing statement date for goods or services a company provides to another company or consumer on a recurring basis. Although billing cycles are most often set on a monthly basis, they
What is a Billing Statement? A billing statement is a monthly report that credit card companies issue to credit card holders showing their recent transactions, monthly minimum payment due, and other vital information. Billing statements are issued monthly at the end of each billing cycle. For example, credit card holders can receive their billing statements
The term billionaire refers to an individual with assets or a net worth of at least one billion currency units in their native currency such as dollars, euros, or pounds. Billionaires are extremely rich, with assets ranging from cash and cash equivalents to real estate, as well as business and personal property. These individuals are
What Is a Bill of Lading? A bill of lading (BL or BoL) is a legal document issued by a carrier (transportation company) to a shipper that details the type, quantity, and destination of the goods being carried. A bill of lading also serves as a shipment receipt when the carrier delivers the goods at
What Is a Bill of Materials (BOM)? A bill of materials (BOM) is an extensive list of raw materials, components, and instructions required to construct, manufacture, or repair a product or service. A bill of materials usually appears in a hierarchical format, with the highest level displaying the finished product and the bottom level showing individual
What Is the Bimetallic Standard? A bimetallic standard, or bimetallism, is a monetary system in which a government recognizes coins composed of both gold or silver as legal tender. The bimetallic standard backs a unit of currency to a fixed ratio of gold and/or silver. The mint ratio, or gold/silver ratio, is the price of an
