Domestic Preference
Definitions
- (n.) A procurement policy favoring domestic goods and services over foreign ones, to support local industries and economy.
The government adopted a domestic preference policy to boost local manufacturing.
- (n.) A principle in insolvency law where payments made to domestic creditors are given priority over foreign creditors.
The court applied domestic preference rules to prioritize claims from local creditors.
Forms
- domestic preference
Related terms
See also
Commentary
Domestic preference often arises in government procurement and insolvency contexts and may have different legal implications accordingly.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.