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An B C Con D E F G H I J K L M N O P Q R S Sp T U VWXYZ
Rank in Person
The personal rank that a Foreign Service officer maintains even when occupying a job of
higher or lower rank.
Rate of Exchange.
The basis upon which money of one country will be exchanged for that of another. Rates of
exchange are established and quoted for foreign currencies on the basis of the
demand, supply, and stability of the individual currencies. See "Exchange."
Real Dollars
See Constant Dollars.
Reciprocal Defense Procurement
Memoranda of Understanding
Reciprocal memoranda of understanding (MOU) are broad bilateral umbrella MOUs that seek to
reduce trade barriers on defense procurement. They usually call for the waiver of
"buy national" restrictions, customs and duties to allow the contractors of the
signatories to participate, on a competitive basis, in the defense procurement of the
other country. These agreements were designed in the late 1970's to promote
rationalization, standardization, and interoperability of defense equipment within NATO.
At that time, the MOU's were also intended to reduce the large defense trade advantage the
United States possessed over the European allies. The first agreements were signed in
1978.
Reciprocity
The reduction of a country's import duties or other trade restraints in return for
comparable trade concessions from another country.
Reciprocity includes the lowering of
customs duties on imports in return for tariff concessions from other countries; the
negotiated reduction of a country's import duties or other trade restraints in return for
similar concessions from another country. Reciprocity is a traditional principle of GATT
trade negotiations that implies an approximate equality of concessions accorded and
benefits received among or between participants in a negotiation. In practice this
principle applies only in negotiations between developed countries. Because of the
frequently wide disparity in their economic capacities and potential, the relationship
between developed and developing countries is generally not one of equivalence. The
concept of "relative reciprocity" has emerged to characterize the practice by
developed countries to seek less than full reciprocity from developing countries in trade
negotiations.
Reengineering.
Reengineering changes the way work processes are carried out, to better serve the
customer, client, or citizen. Reengineering is a strategy to redefine, and perhaps reduce,
the business processes of an organization. Workforce reduction may be part of
reengineering. Today, information technology is usually central to the reengineering of
business processes. Synonyms: process management, process redesign
Reexports
For export control purposes: the
shipment of U.S. origin products from one foreign destination to another. For statistical
reporting purposes: exports of foreign-origin merchandise which have previously entered
the United States for consumption or into Customs bonded warehouses for U.S. Foreign Trade
Zones.
Register.
A company is normally required to maintain records of the members (shareholders),
directors and officers and secretary of the company. These records are often referred to
as a register and may or may not be open to inspection by the public, dependent on the
laws of the country in which the company is incorporated.
Registered Office.
The official address of the company to which legal documents can be sent. Often it is a
requirement under company law that the registered office is within the country in which
the company is incorporated.
Remitting Bank.
The bank that sends the draft to the overseas bank for collection.
Renminbi (RMB)
China's currency. The RMB is not convertible into foreign currency, and is used for
internal commerce, but not in the purchase of imported goods. See also FEC (Foreign
Exchange Certificate) which is a part of a two tiered china's currency system.
Request/Offer
A negotiating approach whereby requests are submitted by a country to a trading partner
identifying the concessions another seeks through negotiations. Compensating offers are
similarly tabled and negotiated by delegates of the countries involved.
Requirement Contract
A purchase agreement for goods, equipment or services, the quantity or amount of which is
based upon the actual needs or requirement of the agency.
Requisition Time Schedule (RTS)
A schedule issued by the State Purchasing Bureau which designates the dates that
requisition for various categories of purchase will be required during the calendar year.
Reserve Tranche
Member countries of the International Monetary Fund (IMF) have a reserve tranche position
to the extent that their quotas exceed the IMF's holdings of its currency in the General
Resources Account, excluding holdings arising out of purchases made by the member under
all policies on the use of the IMF's general resources. A member may purchase up to the
full amount of its reserve tranche at any time, subject only to the requirement of balance
of payments need. A reserve tranche position does not constitute a use of IMF credit and
is not subject to charges or to an expectation or obligation to repurchase.
See: International Monetary Fund.
Residence.
or Domicile. These are complex concepts regarding where a company or individual are
considered to be located for the purposes of taxation, immigration and the application of
law. 'Migration of Domicile' refers to the ability to move (a company) from one
jurisdiction (country) to another.
Residual Restrictions
Quantitative restrictions that have been maintained by governments before they became
contracting parties to GATT and, hence, permissible under the GATT "grandfather
clause." Most of the residual restrictions still in effect are maintained by
developed countries against the imports of agricultural products.
Restrictive Business Practices
Actions in the private sector, such as collusion among the largest international
suppliers, designed to restrict competition so as to keep prices relatively high.
Restrictive Specification
Specifications that unnecessarily limit competition.
Retaliation
Action taken by a country whose exports are adversely affected by the raising of tariffs
or other trade restricting measures by another country. The GATT permits an adversely
affected contracting party (CP) to impose limited restraints on imports from another CP
that has raised its trade barriers (after consultations with countries whose trade might
be affected). In theory, the volume of trade affected by such retaliatory measures should
approximate the value of trade affected by the precipitating change in import protection.
Rethinking.
Rethinking is both broader and more fundamental than rightsizing. Rethinking strategically
identifies and refocuses the core mission. Rethinking asks, for example: Why do we exist
at all? What is our mission? Is it still the right mission? Is it still worth doing?
Rethinking also asks: Assuming we should still exist, how should we go about our mission?
What are our performance capacities? What redesign is relevant to the core mission?
Rethinking is necessary and appropriate in periods of the greatest change. Antonym: repair
Returned Without Action
For export control purposes: the return of a license application without action is used
when the application is incomplete, additional information is required, or the product is
eligible for a General License.
Reverse Preferences
Tariff advantages once offered by developing countries to imports from certain developed
countries that granted them preferences. Reverse preferences characterized trading
arrangements between the European Community and some developing countries prior to the
advent of the Generalized System of Preferences (GSP) and the signing of the Lom‚
Convention.
Revocable Letter of Credit
A letter of credit which can be
cancelled or altered by the drawee (buyer) after it has been issued by the drawee's bank.
Revocation of Antidumping Duty
Order & Termination of Suspended Investigation
An antidumping duty order may be revoked or a suspended investigation may be terminated
upon application from a party to the proceeding. Ordinarily the application is considered
only if there have been no sales at less than fair value for at least the two most recent
years. However, the International Trade Administration may on its own initiative revoke an
antidumping duty order or terminate a suspended investigation if there have not been sales
at less than fair value for a period of 3 years.
See: Tariff Act of 1930.
Rightsizing.
Organization structure, however, is more than the boxes on a chart; more than the number
of employees, positions, or jobs; and more than business processes (e.g., it
includes formal and informal patterns of interaction that link all organizational elements
toward mission accomplishment). Rightsizing can involve reducing the workforce
(downsizing) as well as eliminating functions, reducing expenses, and redesigning systems
and policies (e.g., to reduce costs or reduce organizational size). It can also require
upsizing (increasing the workforce) in certain areas. Rightsizing eliminates unnecessary
work and improves and prioritizes the most important work. It is a multifaceted attempt to
reshape the total organization. Some adherents also give rightsizing a strong humanistic
orientation. Synonyms: lean organization, revitalization, renewal, reinvention, total
organizational performance, organizational design
Rio Group
The Rio Group is a political forum of Latin American and Caribbean countries which
promotes regional political, economic and social cooperation. The Group is comprised of 13
countries, including 11 permanent members: Argentina, Bolivia, Brazil, Colombia, Chile,
Ecuador, Mexico, Paraguay, Peru, Uruguay and Venezuela and two rotating members which
representing the Central American countries and the Caribbean nations.
Rollback
Rollback refers to an agreement among Uruguay Round participants to dismantle all
trade-restrictive or distorting measures that are inconsistent with the provisions of the
GATT. Measures subject to rollback would be phased out or brought into conformity within
an agreed timeframe, no later than by the formal completion of the negotiations. The
rollback agreement is accompanied by a commitment to "standstill" on existing
trade-restrictive measures. Rollback is also used as a reference to the imposition of
quantitative restrictions at levels less than those occurring in the present.
See: Standstill.
Rounds
Cycles of multilateral trade negotiations under GATT, culminating in simultaneous
agreements among participating countries to reduce tariff and non-tariff trade barriers.
- 1st Round: 1947, Geneva (creation of
the GATT)
- 2nd Round: 1949, Annecy, France (tariff reduction)
- 3rd Round: 1951, Torquay, England (accession & tariff reduction)
- 4th Round: 1956, Geneva (accession and tariff reduction)
- 5th Round: 1960-62, Geneva ("Dillon" Round; revision of GATT; addition of more
countries)
- 6th Round: 1964-67, Geneva ("Kennedy" Round)
- 7th Round: 1973-79, Geneva ("Tokyo" Round)
- 8th Round: 1986-93, Geneva ("Uruguay" Round)
RTS
See Requisition Time Schedule.
Russian Project Finance Bank
The RPFB is a new financial institution set up with the assistance of the European
Community. The Bank is intended to develop efficient financial systems in Russia capable
of channeling foreign and domestic investment into priority areas by providing medium and
long-term financial and high quality investment banking advisory services to businesses.
Russian Union of Industrialists and
Entrepreneurs
RUIE promotes commerical links between Western firms and Soviet defense firms. The Union,
an independent agency created by the Russian Central government, consists of hundreds of
major entreprises and associations.
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