Tariffs and Customs Terms A.1.09 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
the taking of the shipment into legal custody by government authorities for violation of Customs laws, rules, and regulation.
apprehension
the water areas at a port’s entrance.
approaches
an agreement between the owners of an equipment and a government body to allow continuous examination of such equipment (e.g., container van).
Approved Continuous Examination Program
an area between the transit shed and the quay wall.
apron
a regional trade arrangement among Egypt, Iraq, Jordan, Libya, Mauritania, Syria, and Yemen. It was signed in 1964.
Arab Common Market
created in 1989 to promote economic cooperation and integration among Egypt, Iraq, Jordan, and North Yemen.
Arab Cooperation Council
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.
Arab Fund for Economic and Social Development
a bank that helps foster trade among Oman, Qatar, and United Arab Emirates.
Arab International Bank
established in 1989 to foster integration of the Maghreb economies: Algeria, Libya, Mauritania, Morocco, and Tunisia.
Arab Maghreb Union
established in 1989 by the Arab Monetary Fund to promote trade among Arab economies.
Arab Trade Financing Program
a person appointed to settle a legal controversy or issue.
arbiter
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
arbitrage
as additional freight imposed on exports from an output or inter-island port.
arbitrary charge
a clause in a sales contract that provides the method for resolving seller-buyer disputes.
arbitrary clause
a code for an area where a container lies.
area code
an area where a leased container is off-hire.
area off-hire lease
an area where a subleased container is off-hire.
area off-hire sublease
an area where a container is under repair.
area of repair
an area where a leased container is being hired.
area on-hire lease
an area where a subleased container is being hired
area on-hire subleased
a sales transaction effected by a broker or intermediary
arm’s length transaction
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
arm’s length transaction
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
Arrangement on Guidelines for Officially Supported Export Credits
the entire operations involved in receiving, handling, moving, stacking, or temporarily storing cargoes within the piers and wharves or Custom premises.
arrastre
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.
Arrastre bond
