Tariffs and Customs Terms C.1.39

Question 1

the master, officers, and seamen, who man a vessel.

Answer 1

crew

Question 2

the point in international trade where the seller’s responsibility ends and the buyer’s responsibility begins

Answer 2

critical point

Question 3

from one national border to another.

Answer 3

cross-border

Question 4

synonymous with destination principle, it espouses the levying of Value-Added Tax on goods, property, or services destined, used, or consumed in another country

Answer 4

Cross Border Doctrine

Question 5

movement of goods directly from the receiving dock to the shipping dock to eliminate storage expense.

Answer 5

cross-docking

Question 6

a check where a person or banker is named therein, and whose intervention is required before the drawee bank pays the check

Answer 6

crossed check

Question 7

the volume of a ship’s cargo (excluding insulated cargo space), expressed in bale or grain capacity, and in cubic meters

Answer 7

cubic capacity

Question 8

a system under the General Agreement on Tariffs and Trade wherein an economy has the right asses the adverse effects of imports from different countries, especially within the principle of anti-dumping.

Answer 8

cumulation of imports

Question 9

a revolving credit that allows as unutilized amount (for a particular period) to be carried over and added to the amount for a subsequent period.

Answer 9

Cumulative revolving credit

Question 10

is the unit of activity. A quantity of radioactive material has an activity of one curie if the number of disintegrations of atoms per second is 3.7 x 10° (37 thousand million).

Answer 10

Curie

Question 11

money circulated in a particular country.

Answer 11

currency

Question 12

factor the adjustment of transport freight rates to reflect foreign exchange fluctuations.

Answer 12

currency adjustment

Question 13

the difference between a country’s total exports and imports.

Answer 13

current account balance

Question 14

a bill of lading that covers goods delivered to the custody of the carrier.

Answer 14

custody bill of lading

Question 15

a service of the U.S. Department of Commerce that provides American firms information on export marketing, pricing, product demand and competition, and other relevant data.

Answer 15

customized sales survey

Question 16

the established customs and practices t a port, and becomes part of a contract of carriage, unless otherwise stipulated.

Answer 16

custom of the port

Question 17

it has been defined as a rule of conduct formed by repetition of acts, uniformly observed as a social rule, legally binding and obligatory. Courts take no judicial notice of customs. A custom must be proved as a fact, according to the rules or evidence

Answer 17

customs

Question 18

A government agency tasked to impose duties and taxes on imported goods, combat smuggling, and promote trade facilitation

Answer 18

customs

Question 19

Refers to duties imposed on imported goods

Answer 19

customs

Question 20

a warehouse for storage, processing, manufacturing of imported raw materials into finished product for exports. Such importation Is tax- and duty-free, but subject to a filing of a bond in favor of the government.

Answer 20

Customs bonded manufacturing warehouse

Question 21

the process of clearing a shipment through Customs and accounting for any duties, taxes, fines, or penalties payable.

Answer 21

Customs clearance

Question 22

measures adopted to ensure compliance with Customs laws and regulations.

Answer 22

Customs controls

Question 23

these refer to the following conventions under the World Customs Organization: 1. Establishment of the Customs Cooperation Council (1952), 2. Harmonized Commodity Description and Coding System, 3. carnets for commercial samples (1957), 4. importations of packing (1962),5. temporary importation of professional equipment (1962), 6. facilities for the importation of goods fro display or use at exhibitions, fairs, meetings, and similar events (1962), 7. ATA carnet for the temporary admission of goods, or ATA Convention (1963), 8. welfare materials for seafearers (1965), 9. temporary importation of scientific equipment (1962), 10. temporary importation of pedagogical materials (1971), 11. international transit of goods done on June 7, 1971, but yet to take effect, 12. simplification and harmonization of customs procedures (1974 Kyoto convention, Japan), 13. mutual administrative assistance for the prevention, investigation, and repression of Customs offenses (1980 Nairobi convention, Kenya), and 14. temporary admission of imported goods (for exhibition purposes), 1993 Istanbul Convention, Turkey.

Answer 23

Customs Conventions

Question 24

an international organization of some 150 countries, it serves as a technical body that studies and resolves problems on harmonization of Customs operations worldwide to promote trade. Established in 1950, it drafted the Customs Cooperation Council Nomenclature.

Answer 24

Customs Cooperation Council

Question 25

drafted by the Customs Cooperation Council, it is the most updated, modern, and scientific descriptions of articles in international trade. It is the formal coding system chiefly used for commodities traded globally. All products are given codes from 01.01 to 99.06. It has been superseded by the Harmonized System Nomenclature, to which most major trading nations, including the U.S., adhere.

Answer 25

Customs Cooperation Council Nomenclature