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LSDefine

Simple English definitions for legal terms

favored nation

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A quick definition of favored nation:

Favored Nation: A special agreement between two countries that allows one country to enjoy the same benefits and privileges as other countries under similar circumstances. This agreement usually applies to international trade and results in lower trade tariffs. It is also known as Most Favored Nation (MFN) status.

A more thorough explanation:

Definition: Favored nation refers to a treaty status granted to a nation, usually in international trade, allowing it to enjoy the same privileges that the other party accords to other nations under similar circumstances. This status primarily results in lower trade tariffs.

Example: If Country A grants most favored nation status to Country B, it means that Country B will receive the same trade benefits as any other country that Country A has granted the same status to. For instance, if Country A has granted a 10% tariff reduction to Country C, then Country B will also receive the same 10% tariff reduction.

Explanation: The example illustrates how favored nation status works in international trade. It means that a country that has been granted this status will receive the same treatment as other countries that have been granted the same status. This status is usually granted to promote fair trade practices and to encourage countries to engage in trade with each other.

favored beneficiary | favored-nation clause

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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