Tariffs and Customs Terms D.1.42

Question 1

the importer, consignee, broker, agent, or attorney in-fact who declares an imported shipment for payment of customs duties and taxes.

Answer 1

declarant

Question 2

a statement made by an importer of broker on the nature of imported goods, their quantity, value, weight, and the like, for the purpose of paying duties and taxes

Answer 2

declaration

Question 3

in marine insurance, a form filled up by the insured and sent to the insurance company when reporting individual shipments being transported under the terms of an open policy

Answer 3

declaration

Question 4

a declaration made with Customs upon the arrival or departure of a commercial means of transport. The declarant sets forth the particulars on transport, route, cargo, stores, crew, passengers and the like.

Answer 4

declaration of arrival/declaration of departure

Question 5

a statement of the origin of goods, prepared by their manufacturer, supplier, exporter, or an appropriate official.

Answer 5

declaration of origin

Question 6

a document that shows the ship owner’s qualifications, details on the building of the ship, the master’s name, the number of shares of ownership. It is A requirement prior to registration of a ship.

Answer 6

declaration of ownership

Question 7

is an action which any person interested under a deed, will, contract, or other written instrument, whose rights are affected by a statute, executive order or regulation, or ordinance, may, before breach of violation thereof, bring to determine, any question of construction or validity arising from the instrument or statute and for a declaration of his rights or duties thereunder. The action must be predicated on the following facts or conditions: (1) there must be a justifiable controversy; (2) the controversy must be between persons whose interests are adverse; (3) the party seeking declaratory relief must have a legal interest in the controversy; and (4) the issue involved must be ripe for judicial determination.

Answer 7

declaratory relief

Question 8

vessels which are not engaged in commercial trade, as certified to by the Maritime Industry Authority or the Phil. Coast Guard.

Answer 8

decommissioned vessel

Question 9

an economic policy of eliminating controls or restraints on foreign investment and importations.

Answer 9

decontrol

Question 10

the computer process that enables a bank or an electronic data user to read certain coded messages or computer data.

Answer 10

decryption

Question 11

the fourth alternative method, of determining Customs value by. computing the established selling price of an import product (or identical or similar goods) in the importing country. It deducts the cost of sales, taxes, profit, and other expenses.

Answer 11

deductive value

Question 12

a tank for the carriage of vegetable oil (e.g., palm oil and coconut oil) and other liquids in bulk. It has heating facilities to meet the required cargo temperature.

Answer 12

deep tank

Question 13

failure to satisfy an obligation arising from a loan or contract.

Answer 13

default

Question 14

this phrase means that a defective equipment has been put to use.

Answer 14

defective equipment release

Question 15

a terms of payment for duties on goods imported by ne government owned or controlled firms, or by those who do so for their own account, but under the name of a particular government agency

Answer 15

deferred payment account

Question 15

items that were returned, delivered in damage condition, or damage during warehouse handling. It also refers to goods which freight has not been paid.

Answer 15

defective goods inventory

Question 16

a letter, of credit issued for the purchase of goods and requires presentation of sight drafts on installment often for a year or more.

Answer 16

deferred payment letter of credit

Question 17

splitting up of shipment into small consignment

Answer 17

Degroupage

Question 18

a clause is an open marine cargo insurance policy which states that damage caused by delay of cargo delivery is not recoverable even if due to an insured peril

Answer 18

delay clause

Question 19

the failure or omission of an agent, master, pilot in command, or responsible officer of a vessel to fulfill his duty. The penalty for delinquency is fine

Answer 19

delinquency

Question 20

a term that resembles the trade arrangement under cost, insurance, and freight, except in two ways. First, under delivered terms, the seller’s risks are greater because the buyer pays based on the quality or quantity of goods that are landed. Thus, the seller is responsible for any cargo damage or loss. Second, the seller may be responsible for Customs clearance and payment of duties.

Answer 20

delivered

Question 21

a trade arrangement wherein the seller fulfills his obligation to deliver when the goods have been made available, and cleared for export, at a designated place at a country’s frontier, but before reaching the Customs border of the adjoining country. This is often used in carriage of goods by rail or by road.

Answer 21

Delivered at Frontier

Question 22

a trade arrangement wherein the seller fulfills his obligation to deliver goods up to the designated country of importation. He bears the costs and risks of ocean voyage, and pays the duties, taxes, and charges on the cargo.

Answer 22

Delivered Duty Paid

Question 23

a trade arrangement wherein the seller fulfills his obligation to deliver goods up to the destination country of importation. He bears all costs and risks of ocean voyage, but not the duties, taxes, and charges on the cargo.

Answer 23

Delivered Duty Unpaid

Question 24

a trade arrangement wherein the seller fulfills his obligation to deliver the goods from the ship, to the designated country of destination, but prior to Customs clearance. The seller bears all the cost and risk of ocean voyage. This system is often used in sea or inland waterway carriage of non-containerized goods.

Answer 24

Delivered Ex-Ship