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O

ODA (Official Development Assistance)
Economic or technical assistance extended to developing countries by the governments of developed countries and by international organizations, as contrasted with gifts, loans, and investments financed by the private sector. Official development assistance is construed by the OECD Development Committee as including only "concessional" transfers to developing countries, meaning that all or part of each ODA transaction is a grant or is loaned at rate of interest and/or on repayment terms more beneficial to the recipient than market rates and terms.

Offset Requirements
Conditions imposed on certain large exporters in other countries by importing governments, usually to reduce cash outflows, such as by requiring the exporter to purchase goods or services produced in the importing country, to establish manufacturing facilities in the country, or to use locally produced components in manufacturing. Offset requirements are frequently associated with sales of military equipment.

Offshore Manufacturing
The foreign manufacture of goods by a domestic firm primarily for import into its home market.

OMAs (Orderly Marketing Agreements)
International compacts negotiated between two or more governments in which the trading partners agree to restrain the growth of trade in specified "sensitive" products, usually through the imposition of export quotas. Orderly marketing agreements are intended to ensure that future trade increases will not disrupt, threaten, or impair competitive industries or their workers in importing countries.

Open Account
Open Account offers the least security to an exporter.  The goods and accompanying documents are sent directly to an overseas buyer who has agreed to pay within a certain period after the invoice date – usually not more than 180 days.  The buyer undertakes to remit money to the exporter by an agreed method.

Open Insurance Cover, see Floating Insurance

OPR (Outward Processing Relief)
A form of export Custom’s Entry, which indicates to the Customs that the goods are being temporarily exported, and that will be subsequently re-imported to the Country of Origin without the need to charge Import Duty upon their return.