Tariffs and Customs Terms C.1.34

Question 1

a common carrier that publishes a schedule for specific routes. It is considered a special type of air taxi.

Answer 1

commuter

Question 2

an affiliate of the French National Railways for container traffic

Answer 2

Compagneurs Nationales des Conteneurs

Question 3

a term that means an article is like another, identical in all respects with another, substantially of the same material as another, or, even if it has a different composition, serves the same purpose as another. This term refers to two articles, one local and another imported, but are comparable with each other.

Answer 3

comparability

Question 4

the domestic price of an export product from a country of same economic development, sold, or offered for sale at wholesale on the date of exportation to another country.

Answer 4

comparable price

Question 5

David Ricardo’s economic doctrine which states that countries tend to specialize on export products that have advantage over those produced by their trading counterparts.

Answer 5

Comparative advantage

Question 6

a numerical list corresponding to headings of the Harmonized System nomenclature and of the Classification Opinions adopted by the World Customs Organization. It complements the Harmonized System Code.

Answer 6

Compendium of Classification Opinions

Question 7

a principle of the General Agreement on Tariffs and Trade (GATT)which mandates that in a trade between two member-countries, one must lower its tariff or make certain concessions to another, if the former raises a tariff above the agreed rate, withdraws tariff binding, or violates a trade concession

Answer 7

Compensation

Question 8

indemnification or payment for property damage or loss.

Answer 8

Compensation

Question 9

an International Monetary Fund facility that provides resources to its members, which suffer shortfall in export earnings, or pay excessive cereal import costs, due to factors beyond their control.

Answer 9

Compensatory and Contingency Financing Facility

Question 10

the purpose of competitive bidding is to invite competitions and to guard against favoritism, fraud and corruption. It is held for the protection of the public and to give the public the best possible advantage by means of open competition among bidders

Answer 10

Competitive bidding

Question 11

is defined as a concise statement of the ultimate facts constituting the plaintiff’s cause or causes of action. Like all other pleadings, the complaint shall contain in a methodical and logical form a plain, concise and direct statement of the ultimate facts on which the plaintiff relies for his claim, omitting the statement of mere evidentiary facts. Its office, purpose or function is to inform the defendant clearly and definitely of the claims made against him so that he may be prepared to meet the issues at the trial. The complaint should inform the defendant of all the materials facts on which the plaintiff relies to support his demand; it should state the theory or cause of action which forms the bases of the plaintiffs claim of liability.

Answer 11

Complaint

Question 12

refers to a motor vehicle imported in completely-assembled form, and offered for sale at wholesale to the dealers or through sales agents as determined by the assembler or importer.

Answer 12

completely built-up

Question 13

an imported vehicle which parts and components for assembly are in disassembled condition. A CKD shipment may include assemblies and sub assemblies, like engine transmission, axe assemblies, chassis and body assemblies.

Answer 13

completely knocked down

Question 14

a system wherein goods traded globally are inspected prior to their shipment to importing countries. An inspection agency ( e.g. Societe Generale de Surveillance) determines the nature, quantity, weight, volume, value, tariff classification, etc., of the goods to facilitate trade and allow value comparison.

Answer 14

Comprehensive Import Supervision Service

Question 15

settlement of obligation or differences by mutual concession.

Answer 15

compromise

Question 16

the fifth method of alternative Customs value, it determines the value of goods based on their production cost, plus an amount for profit and general expenses.

Answer 16

computed value

Question 17

use of computers in simplifying and enhancing procedures, liké export and import declaration through electronic data interchange; payment of duties and taxes via electronic transfer; transactions. with banks and sureties on guarantees and bonds; interchange of tariff and trade data within the trading community; enforcement, control techniques, and cargo risk management, etc.

Answer 17

computerization

Question 18

a system of tariff reduction, tariff binding, or other agreements that attempt to minimize restrictions on imported goods. Any of these actions may be taken by a country to favor a trading partner that provides the same concession.

Answer 18

concession

Question 19

the act of burying, burning, destroying, or disposing abandoned goods that have completely lost commercial value, rotten, hazardous, or imported in violation of patent, trademark, or copyright laws.

Answer 19

condemnation

Question 20

imported articles exempt from Custom duty, subject to compliance with legal formalities, like approval from the Department of Finance. These goods are enumerated in section 105 of the Tariff and Customs Code of the Philippines

Answer 20

conditionally-free importations

Question 21

the granting of an MFN treatment subject to certain terms or conditions.

Answer 21

Conditional Most-Favored Nation Treatment

Question 22

the general terms and conditions set by a carrier with respect to a contract of carriage.

Answer 22

conditions of carriage

Question 23

conical devices inserted at the bottom casings of a container to facilitate its loading, positioning, and lashing.

Answer 23

cones

Question 24

a group of shipping lines that adopts a common set of rules and regulations and imposes standard freight rates for specific sea routes.

Answer 24

conference

Question 25

a ship belonging to a conference.

Answer 25

conference line vessel