Tariffs and Customs Terms A.1.03

Question 1

A kind of subsidy that can be challenged through multilateral dispute settlement or countervailing action.

Answer 1

actionable subsidy

Question 2

the word has invariably been defined as the legal demand of one’s right, or rights; the lawful demand of one’s rights in the form given by law; a demand of a right in court of justice; the lawful demand of one’s right in a court of justice; the legal and formal demand of one’s right from another or party, made and insisted on in a court of justice; a claim made before a tribunal; an assertion in a court of justice or a right given by law; a demand or legal proceeding in a court of justice to secure one’s rights; the means by which man litigates with each other; the means that the law has provided to put the cause of action into effect.

Answer 2

Action

Question 3

raw materials, work in progress, and finished products to be used or sold at no extra cost.

Answer 3

active inventory

Question 4

goods that can be readily picked up from a certain location (e.g. warehouse) upon order.

Answer 4

active stock

Question 5

it has been defined as an accident, due directly and exclusively to natural causes without human intervention, which by no amount of foresight, pains or care, reasonably to have been prevented. The principle requires that the act must be one occasioned exclusively by the violence of nature and all human agencies are to be excluded from creating or entering into the cause of the mischief.

Answer 5

Act of God

Question 6

it consists in giving of actual possession to the vendee or his agent, as for example, in manually transferring the possession of a thing from the vendor to the vendee.

Answer 6

actual delivery

Question 7

Refers to customers’ orders and allocation of items, ingredients, and raw materials for production or distribution.

Answer 7

actual demand

Question 8

is intentional fraud; it consists in deception, intentionally practiced to induce another to part with property or to surrender some legal right, and which accomplishes the end designed.

Answer 8

actual fraud

Question 9

the phrase has been construed as the price which an article would command in the ordinary course of business, that is to say, when offered for sale by one willing to sell, but not under compulsion to sell, and purchased by another who is willing to buy, but under no obligation to purchase it, or the price which the property will bring in a fair market after fair and reasonable efforts have been made to find a purchaser who will five the highest price for it. For purposes of taxation, it means the selling price of the article in the course of ordinary business.

Answer 9

actual market value

Question 10

an insured cargo totally destroyed or irretrievably lost, and therefore, rendered worthless.

Answer 10

actual total loss

Question 11

a specialist who calculates the risk of property being insured.

Answer 11

actuary

Question 12

the value of products and services due to a particular process, like production, storage, and transport.

Answer 12

added value

Question 13

a record of payment formats in an Automated Clearing House

Answer 13

addenda record

Question 14

an increase in the price of goods by a retailer over and above that pegged by the producer.

Answer 14

additional mark-on

Question 15

a reduction in freight paid by the charterer to the ship-owner in case there is no extra service performed by the ship on her return.

Answer 15

address commission

Question 16

a situation wherein the delivery address is beyond a carrier’s area of operation.

Answer 16

address ex delivery area

Question 17

resolution of a legal case by a hearing body.

Answer 17

adjudication

Question 18

a modification in the assessment of duties and taxes due to a discrepancy in the importer’s original declaration; Determination of compensation for the insured.

Answer 18

adjustment

Question 19

it is a government body charged with administering and implementing particular legislation. The term “agency” includes any department independent establishment, commission, administrator, authority, board, or bureau. An __________ _______ has only such powers as are expressly granted to it by law and those that are necessarily implied in the exercise thereof.

Answer 19

Administrative agency

Question 20

the body of law concerning the organization, operations responsibilities and functions of the government, especially its administrative agencies.

Answer 20

Administrative Law

Question 21

expenses for the payment of salary, rental, insurance, electricity, heating, stationery, utility and janitorial services.

Answer 21

administrative overhead

Question 22

refers to the formal or written opposition submitted by the aggrieved party against the decision or ruling of the Collector of customs in case where liability for duties, taxes, fees or other charges are determined by presenting the same within fifteen (15) days after payment or upon payment of duties and taxes setting forth his objection and his reasons against the ruling made.

Answer 22

administrative protest

Question 23

a procedure for establishing and enforcing legal rights by going to an administrative agency rather than filing a law suit in the courts.

Answer 23

administrative remedy

Question 24

these rules and regulations promulgated by administrative agencies in pursuance of the procedure and authority conferred upon the latter by law, with the force and effect of laws. The details and the manner of carrying out the law are oftentimes left to the administrative agency entrusted with its enforcement. In this sense, it has been said that rules and regulations are the product of a delegated power to create a new or additional legal provisions that have the effect of law. These rules are binding on the courts so long as the procedure fixed for their promulgation is followed and their scope is within the statutory authority granted by the legislature, even if the courts are not in agreement with the policy stated therein or its innate wisdom.

Answer 24

administrative rules

Question 25

a court of law dealing with maritime disputes.

Answer 25

admiralty