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l-text">Last updated: 22 Feb, 2017  
SME Glossary
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Glossary of Export Import Trade Terms Starting with - S
Words   Description
SBA (Small Business Administration) An independent agency of the U.S. federal government that aids, counsels, assists, and protects the interests of small business concerns to preserve free competitive enterprise and to maintain and strengthen the overall economy of the nation.
SEPC An exclusive Services Export Promotion Council announced in the Foreign Trade Policy to map opportunities for key services in key markets.
SEZs SEZs means Special Economic Zones In principle approvals have already been given for setting up of 26 new SEZs (state government/private sector) at Nanguneri (Tamil Nadu), Paradeep (Orissa), Gopalpur (Orissa), Kulpi (West Bengal), Bhadohi (U
STPs STP means Software Technology Parks
SWIFT (Society for Worldwide Interbank Financial Transactions) Network through which international banks conduct their financial transactions.
Scenario Analysis A process of asking What if? using scenarios that capture key elements of possible future realities.
Schedule - B Refers to Schedule B, Statistical Classification of Domestic and Foreign Commodities Exported from the India.
Security Market Line (SML) In the CAPM, the relation between required return and systematic risk (or beta): Rj - RF + bj (E[RM] - RF).
Security Selection An investment strategy that attempts to identify individual securities that are under priced relative to other securities in a particular market or industry.
Seeking Stability Rather than Risk An element of the Paris Convention for the Protection of Industrial Property that gives an inventor 12 months from the date of the first application filed in a Paris Convention country in which to file in other Paris Convention countries.
Segmented Market A market that is partially or wholly isolated from other markets by one or more market imperfections.
Semi-Strong form Efficient Market A market in which prices fully reflect all publicly available information.
Sensitivity Analysis (SA) Analysis of the effect on the project when there is some change in critical variables such as sales and costs.
Separation Principle The principle that portfolio choice can be separated into two independent tasks: (1) determination of the optimal risky portfolio, which is purely technical problem, and (2) the personal choice of the best mix of the risky portfolio.
Set-of-Contracts Perspective A view of the corporation as the nexus of a set of legal contracts linking the various stakeholders. Important contracts include those with customers, suppliers, labor, management, debt, and equity.
Sharpe Index A measure of risk-adjusted investment performance in excess return per unit of total risk: SI = (RP - RF)/(sP).
Ship's Manifest An instrument in writing, signed by the captain of a ship, that lists the individual shipments constituting the ship's cargo.
Shipper Usually the supplier or owner of commodities shipped.
Short Position A position in which a particular asset (such as a spot or forward currency) has been sold.
Short Selling Selling an asset that you do not own, or taking a short position.
Side Effect Any aspect of an investment project that can be valued separately from the project itself.
Sight Draft A draft that is payable upon presentation to the drawee.
Signaling The use of observable managerial actions in the marketplace as an indication of management’s beliefs concerning the prospects of the company.
Simple Interest Interest calculated by considering only the original principal amount.
Smoot Hawley Act Passed in 1930, this protectionist act increased import duties to the highest rate ever imposed by the United States, resulting in the downfall of the world trade system.
Social Capital Physical or real capital that is owned by the public sector rather than by private firms.
Sogo Sosha A term referring to general trading companies that import and export merchandise.
Sole Proprietorship A business owned by a single individual. The sole proprietorship pays no corporate income tax but has unlimited liability for business debts and obligations.
Special Drawing Right (SDR) An international reserve created by the International Monetary Fund and allocated to member countries to supplement foreign exchange reserves.
Specific Tariff A tariff assessed at a specific amount per unit of weight.
Spot Exchange The purchase or sale of foreign exchange for immediate delivery.
Spot Exchange-Rate Exchange-rate today for settlement in two days.
Spot Market A market in which trades are made for immediate delivery (within two business days for most spot currencies).
Stabilization Policies Government policies designed to promote economic growth, steady employment, and stable prices.
Stakeholders Those with an interest in the firm. A narrow definition includes the corporation’s debt and equity holders. A broader definition includes labor, management, and perhaps other interested parties, such as customers, suppliers, and society at large.
Stamp Tax A tax on a financial transaction.
Standard Deviation The positive square root of the variance. This is the standard statistical measure of the spread of a sample.
Standard Industrial Classification (SIC) A standard numerical code system used by the U.S. Government to classify products and services.
Standard International Trade Classification (SITC) A standard numerical code system developed by the U.N. to classify commodities used in international trade.
Stated Annual Interest Rate The interest rate expressed as a percentage per annum, by which interest payment is determined.
Stationary Time Series A time series in which the process generating returns is identical at every instant of time.
Steamship Conference A group of steamship operators that operate under mutually agreed upon freight rates.
Stock Index Futures A futures contract on a stock index.
Stock Index Swap A swap involving a stock index. The other asset involved in a stock index swap can be another stock index (a stock-for-stock swap), a debt index (a debt-for-stock swap), or any other financial asset or financial price index.
Stock Market An institution that facilitates the buying and selling of stocks.
Straight Bill of Lading A nonnegotiable bill of lading in which the goods are consigned directly to a named consignee.
Strategic Alliance A collaborative agreement between two companies designed to achieve some strategic goal. Strategic alliances include international licensing agreements, management contracts, and joint ventures as special cases.
Striking Price The price at which an option can be exercised (also called the exercise price).
Subpart F Income In the U.S. tax code, income from foreign subsidiaries owned more than 10 percent and controlled foreign corporations that is taxed on a pro rata basis as it is earned.
Subsidiary Any organization controlled by another with more than 50 percent of its whose voting capital held by the latter.
Subsidized Financing Financing that is provided by a host government and that is issued at a below-market interest rate.
Subsidy Monetary assistance granted by the government to an individual or other entity in support of an activity that is regarded as being in the public interest.
Subsistence Agriculture Small-scale agriculture designed to meet the consumption needs of individual households.
Subzone A special purpose zone established as part of a zone project for a limited purpose, that cannot be accommodated within an existing zone.
Sunk Cost A cost that has already occurred and cannot be removed. Because sunk costs are in the past, such costs should be ignored when deciding whether to accept or reject a project.
Sunk Costs Expenditures that are at least partially lost once an investment is made.
Supervisory Board The board of directors that represents stakeholders in the governance of the corporation.
Swap An agreement to exchange two liabilities (or assets) and, after a prearranged length of time, to reexchange the liabilities (or assets).
Swap Book A swap bank’s portfolio of swaps, usually arranged by currency and by maturity.
Swaption A swap with one or more options attached.
Switching Options A sequence of options in which exercise of one option creates one or more additional options. Investment-disinvestments, entry-exit, expansion-contraction, and suspension-reactivation decisions are examples of switching options.
Syndicate The selling group of investment banks in a public securities offering.
Synergy In an acquisition or merger, when the value of the combination is greater than the sum of the individual parts: Synergy = VAT - (VA + VT).
Synthetic Forward Position A forward position constructed through borrowing in one currency, lending in another currency, and offsetting these transactions in the spot exchange market.
Systematic Risk Risk that is common to all assets and cannot be diversified away (measured by beta).
 
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  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 16 Dec, 2018
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