„Preference“

1.A creditor’s right to be paid before other creditors of the same debtor.

2. A trade preference is the granting of a preferred status to some or all of the goods of a preferred country, such as lower rates of duty or admissibility of goods in quantities over and above those normally permitted.

Source:

Eichengreen, Barry J. “Globalizing Capital: A History of the International Monetary System.” Princeton University Press, 2008.