Tariffs and Customs Terms A.1.11 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
a process by which a semi-finished parts are put together to form a distinct product without substantially alerting the physical, mechanical, electro-magnetic, or: chemical properties of such parts
assembly
to test the purity or quality of metal or oil
assay
to compute the value of goods
assess
The computation and imposition of duties, charges, penalty (if any), on imported goods
assessment
a Customs office responsible for assessment of duties and taxes of import items
assessment
funds, stocks, bonds, and other financial sources from which a firm or person derives fund to operate business. These may constitute a security in favor of the government for failure to pay duties and taxes on goods stored in a bonded warehouse.
assets
transfer of title of ownership from one person or firm to another
assignment
particular duty given to an employee or subordinate
assignment
a term used to describe the value of certain goods and services used in producing imported goods, like industrial materials, components, parts and other items of imported goods; tools, dies, molds, and similar items in production; materials used for production; and engineering and art works used in production.
assists
a group that promotes harmony and communication among African states on matters of trade policy, research and training.
Association of African Trade Promotion Organization
a regional political and trade arrangement of Philippines, Indonesia, Malaysia, Thailand, Brunei, Singapore, Laos, Myanmar, (Burma), Kampuchea (Cambodia), and Vietnam
Association of Southeast Asian Nations
behind a vessel or on aircraft; In a reverse direction
astern
combination of the French words admission temporaire (temporary admission) and the English phrase “temporary admission”
ATA
Air Transport Association
ATA
International Customs document used to cover temporary importation of goods (used for exhibitions) without payment of duty or tax. So far, more than 40 countries have been using this document
ATA Carnet
refers to the Customs Convention on the ATA Carnet ( held at Brussels, Belgium, on December 6,1961), which took effect on July 30, 1963, governing the temporary admission of goods used for exhibitions
ATA Convention
a draft or negotiable instrument payable upon presentation
at sight
arrangement of cargo from one side of a ship to another
athwarthships
a government official attached to a foreign legation or embassy
attaché
a legal action wherein the properties of a debtor (e.g. importer or warehouse operator) are constituted as security or lien to satisfy an obligation to the government
attachment
the time proximate or near enough to reflect the price of goods on the date of exportation of goods
at the time of exportation
derived from the Latin auction, meaning increase, it is the process by which seized, forfeited or abandoned or articles are offered for open bidding to potential buyers. The amount of bids increase until a winner the highest bidder) is declared
auction
an offering for public bidding of quota or limit for export of certain goods
auction
a person who conducts an auction
auctioneer
the periods within which auditing is made.
audit cycle
