Commercial treaty till the middle of the century, apparently with irresistible support, they suddenly collapsed under the strain of a season of exceptionally short crops. Both their continued maintenance and their final sudden abolition are in some respects divergent from the general course of British tariff history. Commercial treaty A commercial treaty is a formal agreement between states for the purpose of establishing mutual rights and regulating conditions of trade. It is a bilateral act whereby definite arrangements are entered into by each contracting party towards the other—not mere concessions. For example, the Methuen Treaty was a commercial treaty between Portugal and
Nepal–Britain Treaty of 1923 as a fully sovereign nation. In 1921, when the Prince of Wales, later Edward VIII, came to Kathmandu, Chandra Shumsher raised the question of formulating a new peace treaty between Nepal and Britain. The treaty was discussed by the British authorities in Kathmandu, Nepal and London for more than a year before the final treaty was signed, 21 December 1923, in Singha Durbar, Kathmandu. The terms of the 1923 Nepal Britain Treaty were: "1) Nepal and Britain will forever maintain peace and mutual friendship and respect each other's internal and external independence. "2) All previous treaties, agreements and engagements, since