import deposita sum of money paid to the government by importers of a specified good on arrival of the good in the country prior to its eventual sale. Import deposits are used primarily to discourage imports as a means of protecting a country's BALANCE OF PAYMENTS.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
import depositthe requirement that importers of a product (see IMPORT) pay to the government a specified sum of money (calculated as a percentage of the value of the product) on arrival of the product in the domestic market prior to its eventual sale. Import deposits are used primarily as a means of assisting in the removal of a BALANCE OF PAYMENTS deficit. See BALANCE OF PAYMENTS EQUILIBRIUM, IMPORT RESTRICTIONS.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005