Downpayment
Downpayment: an initial conditional offer of tariff reductions, an undertaking to follow an agreed negotiating plan or another stratagem demonstrating a serious interest in the outcome of proposed negotiations. In APEC, an initial instalment on the longer-term commitment to free and open trade and investment as shown in an APEC individual action plan. This was agreed as part of the November 1995 Osaka Action Agenda.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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