Tariffs and Customs Terms C.1.30 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
clean payment or clean letter of credit.
Clean credit
a draft without any attached documents. It also means the draft is not honored for payment unless the conditions are complied with.
Clean draft
motor and aviation spirit, benzine, white spirit, tractor vaporizing oil, kerosene, some grades of gas oil, some grades of high-speed diesel oil.
Clean oil
a situation wherein the goods are loaded on board a ship, and the covering documents are in order.
Clean on board
a document issued by the Société Générale de Surveillance, a cargo-surveying firm, setting forth in detail the goods being imported, their value, tariff classification, quantity, quality, weight, consignee, supplier, etc. during the era of the Comprehensive Import Supervision Scheme (CISS).
Clean Report of Findings
the document entitled “Clearance of Vessel to a Foreign Port”, which enables a vessel to leave a port after her master or agent has processed clearance documents with Customs.
Clearance
a Customs procedure that allows imported goods to remain permanently in the commerce of the country after payment of duties and taxes. Synonymous with consumption entry.
Clearance for home use
a terminal where Customs facilities for clearance of goods are kept.
Clearance terminal
a phrase in a charter contract which indicates that the first and last days of a given period, in the computation of laydays, are not counted. See also charter; laydays
Clear days
a situation wherein the port authority has given permission to allow goods and/or means of transport to leave a port.
Cleared by port authority
a situation wherein the goods and/or equipment, which were held due to some restrictions, have been subsequently released for export.
Cleared export restrictions
a situation wherein the goods and/or equipment, which were held due to some restrictions, have been subsequently released for import.
Cleared import restrictions
a situation wherein a shipment is cleared by Customs without inspection.
Cleared without examination
a financial institution where claims are settled between the accounts of member depository institutions. It may act as buyer to all sellers, and seller to all buyers, to ensure financial integrity of trade transactions.
Clearing house
owned and operated by the New York clearing house banks, it is an automated clearing system used primarily for international payments.
Clearing House interbank Payments Systems
one who engages the services of a broker or attorney to represent the former in his business transactions
client
a sealed crate
closed crate
a closed type container with natural or mechanical ventilation system.
closed ventilated container
the last date for delivery of goods by a charter vessel.
closing date
in auction sales, the deadlock that occurs when the amount of the second highest bid is so close to the highest. To resolve this, an open re-bidding is conducted to allow registered bidders to participate. The highest bid during the cluster becomes the new floor price, but the subsequent offer must be higher than the new floor price. This is an old system.
Clustering
carriers that provide transport service along seacoast.
coastal carriers
domestic or inter-island sea transport.
coastwise
domestic ports open to coastwise trade only. These include all ports, harbors, and places that are no ports of entry.
coastwise ports
for Multinational Export Controls Cooperation Forum a. forum for new states of Central and Eastern Europe, and the Soviet Union (e.g., Hungary, Romania, Russia), to allow discussions on export controls and to coordinate mutual technical assistant.
Coordinating Committee
the general law that governs the acts of merchants, and those on contracts, credits, transportation, letters of credit, maritime commerce, etc.
Code of Commerce
