International Trade Law Specialists.

Glossary of Terms

Parallel Imports

The importation of products produced legally (i.e. not pirated) abroad without the permission of the intellectual property right-holder (e.g. the trademark or patent owner). Some countries do not allow parallel importation.

Partial Binding

See BINDING.

Peaks (Tariff)

A customs tariff contains tariff peaks if it is relatively homogeneous but contains in selected sectors high tariffs compared to the overall average tariff.  During the Uruguay Round, tariff peaks were defined as duties over 15%.

Plurilateral (Consultations Or Negotiations)

Several participants involved in consultations or negotiations among themselves.

Post-Uruguay Duty

See Pre-Uruguay and Post-Uruguay Duty.