The World Trade Organization Provides Two Procedures for the Resolution

question 10

Multiple Choice

The World Trade Organization provides two procedures for the resolution of disputes between countries.One way is to request the WTO Council to appoint a "panel" to adjudicate the dispute; the other way is

• A)a consultation and,if necessary,conciliation procedure-essentially a diplomatic solution.
• B)to turn over the matter to the International Mediation Review Board.
• C)by arbitration through an international arbitration panel.
• D)to submit to the International Compensation Board,who will review the matter and publish a report with their recommendations.
• E)to refer the dispute to the Free Trade Commission for settlement.

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Definitions:

Bank Credit

The amount of credit available to a company or individual from a banking institution.

Short-Term Financing

Refers to the borrowing of funds for a period of less than one year to meet immediate financial needs.

Trust Receipts

Trust receipts are documents issued by banks to borrowers indicating that the bank holds the title to imported goods until the loan is repaid.

Collateral

An asset that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid.