Treaties of Friendship, Commerce and Navigation
Treaties of Friendship, Commerce and Navigation: usually known as FCN treaties. It is a bilateral treaty form favoured in the past by the United States and some European countries. It sets out the terms under which bilateral trade and shipping are conducted, and it describes the rights of persons from one state conducting business in the other state or establishing a commercial presence there, including ownership of property. Main subjects covered by FCN treaties usually are rights of entry for business and residence, protection of individuals and companies, practice of professions, acquisition of property, patents, taxes, remittance of earnings and capital, trade measures, expropriation and nationalization, etc. Earlier versions of FCN treaties also contained consular and customs provisions. FCN treaties are considered by some as a form of preferential trade arrangements. One of the earliest FCN treaties was that concluded between the United States and France in 1778. The FCN treaty form has now been replaced in the United States by bilateral investment treaties.
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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