Tariffs and Customs Terms A.1.09

Question 1

the taking of the shipment into legal custody by government authorities for violation of Customs laws, rules, and regulation.

Answer 1

apprehension

Question 2

the water areas at a port’s entrance.

Answer 2

approaches

Question 3

an agreement between the owners of an equipment and a government body to allow continuous examination of such equipment (e.g., container van).

Answer 3

Approved Continuous Examination Program

Question 4

an area between the transit shed and the quay wall.

Answer 4

apron

Question 5

a regional trade arrangement among Egypt, Iraq, Jordan, Libya, Mauritania, Syria, and Yemen. It was signed in 1964.

Answer 5

Arab Common Market

Question 6

created in 1989 to promote economic cooperation and integration among Egypt, Iraq, Jordan, and North Yemen.

Answer 6

Arab Cooperation Council

Question 7

a funding institution that promotes. economic integration and social development among the Arab states of Algeria, Bahrain, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Somalia, Sudan, Syria, and Tunisia.

Answer 7

Arab Fund for Economic and Social Development

Question 8

a bank that helps foster trade among Oman, Qatar, and United Arab Emirates.

Answer 8

Arab International Bank

Question 9

established in 1989 to foster integration of the Maghreb economies: Algeria, Libya, Mauritania, Morocco, and Tunisia.

Answer 9

Arab Maghreb Union

Question 10

established in 1989 by the Arab Monetary Fund to promote trade among Arab economies.

Answer 10

Arab Trade Financing Program

Question 11

a person appointed to settle a legal controversy or issue.

Answer 11

arbiter

Question 12

the simultaneous buying and selling of commodity, foreign exchange, or securities, into or more markets to take advantage of the difference in the rate of exchange, or prices of securities and commodities in said markets

Answer 12

arbitrage

Question 13

as additional freight imposed on exports from an output or inter-island port.

Answer 13

arbitrary charge

Question 14

a clause in a sales contract that provides the method for resolving seller-buyer disputes.

Answer 14

arbitrary clause

Question 15

a code for an area where a container lies.

Answer 15

area code

Question 16

an area where a leased container is off-hire.

Answer 16

area off-hire lease

Question 17

an area where a subleased container is off-hire.

Answer 17

area off-hire sublease

Question 18

an area where a container is under repair.

Answer 18

area of repair

Question 19

an area where a leased container is being hired.

Answer 19

area on-hire lease

Question 20

an area where a subleased container is being hired

Answer 20

area on-hire subleased

Question 21

a sales transaction effected by a broker or intermediary

Answer 21

arm’s length transaction

Question 22

a transaction whereby the price of products is not effected by a commercial relationship, the buyer does not obtain a reimbursement or other benefit, or where the price is the only consideration

Answer 22

arm’s length transaction

Question 23

an agreement forged under the Organization for Economic Cooperation and Development, providing the conditions for medium- and long-term export credit. Such conditions may touch on interest rate, repayment term, and cash down payment

Answer 23

Arrangement on Guidelines for Officially Supported Export Credits

Question 24

the entire operations involved in receiving, handling, moving, stacking, or temporarily storing cargoes within the piers and wharves or Custom premises.

Answer 24

arrastre

Question 25

the amount paid as bail or security for the handling of goods/merchandise in the piers (unloading of cargoes in the piers) by the importer or consignee which is being entrusted to the arrastre service.

Answer 25

Arrastre bond