International Commercial Terms Document - G

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GATT: The Generalized Agreement on tariffs and Trade, a multilateral treaty designed to help reduce trade barriers between the signatory countries and to promote trade through tariff concessions.

General export license: A type of export license for which individually validated export licenses are not required. No individual authorization is needed to ship exports under a general export license.

Gross Domestic Product (GDP): A measure of the market value of goods and services produced by a nation. Unlike Gross National Product, GDP excludes profits made by U.S. firms overseas, as well as the share of reinvested earning in U.S. firms' foreign-based operations.

Gross weight: The total weight of a shipment, including goods and packing.

Guideline Lease: A lease written under criteria established by the IRS to determine the availability of tax benefits to the lessor.