Tariffs and Customs Terms C.1.30

Question 1

clean payment or clean letter of credit.

Answer 1

Clean credit

Question 2

a draft without any attached documents. It also means the draft is not honored for payment unless the conditions are complied with.

Answer 2

Clean draft

Question 3

motor and aviation spirit, benzine, white spirit, tractor vaporizing oil, kerosene, some grades of gas oil, some grades of high-speed diesel oil.

Answer 3

Clean oil

Question 4

a situation wherein the goods are loaded on board a ship, and the covering documents are in order.

Answer 4

Clean on board

Question 5

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).

Answer 5

Clean Report of Findings

Question 6

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.

Answer 6

Clearance

Question 7

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.

Answer 7

Clearance for home use

Question 8

a terminal where Customs facilities for clearance of goods are kept.

Answer 8

Clearance terminal

Question 9

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

Answer 9

Clear days

Question 10

a situation wherein the port authority has given permission to allow goods and/or means of transport to leave a port.

Answer 10

Cleared by port authority

Question 11

a situation wherein the goods and/or equipment, which were held due to some restrictions, have been subsequently released for export.

Answer 11

Cleared export restrictions

Question 12

a situation wherein the goods and/or equipment, which were held due to some restrictions, have been subsequently released for import.

Answer 12

Cleared import restrictions

Question 13

a situation wherein a shipment is cleared by Customs without inspection.

Answer 13

Cleared without examination

Question 14

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.

Answer 14

Clearing house

Question 15

owned and operated by the New York clearing house banks, it is an automated clearing system used primarily for international payments.

Answer 15

Clearing House interbank Payments Systems

Question 16

one who engages the services of a broker or attorney to represent the former in his business transactions

Answer 16

client

Question 17

a sealed crate

Answer 17

closed crate

Question 18

a closed type container with natural or mechanical ventilation system.

Answer 18

closed ventilated container

Question 19

the last date for delivery of goods by a charter vessel.

Answer 19

closing date

Question 20

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.

Answer 20

Clustering

Question 21

carriers that provide transport service along seacoast.

Answer 21

coastal carriers

Question 22

domestic or inter-island sea transport.

Answer 22

coastwise

Question 23

domestic ports open to coastwise trade only. These include all ports, harbors, and places that are no ports of entry.

Answer 23

coastwise ports

Question 24

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.

Answer 24

Coordinating Committee

Question 25

the general law that governs the acts of merchants, and those on contracts, credits, transportation, letters of credit, maritime commerce, etc.

Answer 25

Code of Commerce