The date upon which foreign exchanges bought and sold have to be delivered and the prices payable for them in local currency. Also, date entry to an account becomes effective and subject to interest.

Value Added Tax.

1980 Vienna Convention on the International Sale of Goods. International treaty signed by approximately 45 nations, including most leading trading nations. Amounts to a virtual commercial code for international sales transactions, but excludes contracts for services, securities, electricity, and some others; parties may be able to �opt out� of coverage by the Vienna Convention by explicitly stating so in the contract of sale.

An account held by a bank with its foreign correspondent bank, in the currency of the bank�s domestic country.