Tariffs and Customs Terms E.1.52 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
a Philippine government agency that mandates importer of petroleum products to comply with prior notice and reportorial requirements under the Downstream Oil Industry Deregulation Act of 1998 (R.A. 8479).
Energy Industry Administration Bureau
a Philippine government agency that issues clearance for the importation of refined petroleum products, coal and coal derivatives, aviation gasoline, motor spirit, petroleum naphtha, kerosene, diesel oil, gas oils, fuel oils, bunker oils, lubricating oils, slop oils, low aromatic solvents of heavy petroleum oils, heavy oil preparations, and liquefied petroleum gas.
Energy Regulatory Board
the value declared by the importer or broker in the import entry declaration.
entered value
- an intermediary storage facility where goods are kept momentarily for local distribution or eventual export,
entrepot
a kind of specificity wherein the government subsidizes a particular company, or companies.
enterprise-specificity
- an intermediate center of trade and transshipment, like Singapore
entrepot
a businessman.
entrepreneur
the entry of imported merchandise into a particular port. Elements: a) The commodity must have previously arrived within the limits of the port of entry, b) The entry document, together with other import papers, shall have been filed and processed with Customs, and c) The duties, taxes, fees, other charges, plus penalty, if any, have been paid, or secured to be paid, at the time of entry,
entry
a principle under the World Trade Organization that promotes uniformity in technical regulations governing bilateral trade, to lessen the cost incurred in such transactions.
equivalence
entry of a ship, or any related means of transport, into a port
entry
the system of encoding into a computer the details of an import entry: nature of goods, shipper, consignee, value, tariff heading, rate of duty, quantity, weight, and other details.
entry data processing
a Customs office where entry declaration of imported goods is encoded in a computer.
Entry Encoding Center
a Philippine government agency that issues clearance for the importation of sodium cyanide, chlorofluorocarbon, and other ozone-depleting substances.
Environmental Management Bureau
removable articles aboard a vessel, like life-boats, life-saving devices, furniture, her apparel, and similar items, except her spare parts.
equipment
a navigational error in the third zone, which covers the period when the risk of collision has become a certainty to the period of actual impact.
error in extremis
a provision of the General Agreement on Tariffs and Trade that allows a country to suspend tariff or other concessions when certain imports injure, or threaten to injure, domestic producers or competing goods or services. Before taking such action, however, an aggrieved country must consult with her trade counterpart to determine proper compensation.
Escape Clause
a special bank account into which earnings from sales (e.g., convertible currency proceeds from exports) are accumulated. These revenues are set aside for acquisition of goods and services from a foreign supplier
escrow account
in auction of articles still subject of a pending forfeiture case, this refers to the proceeds of sale set aside temporarily for the benefit of whoever is adjudged to have legal title over the goods
escrow account
these refer to basic necessities.
essential consumer goods
this class of imports is limited to machinery, equipment, supplies and raw materials required by industries engage in the production of (1) essential consumer goods; (2) export commodities; (3) franchised public utility services, and (4) essential, semi-essential and non-essential producer goods, PROVIDED, materials required for the manufacture of semi-essential and non-essential producer goods undergo transformation in their mechanical or electro-magnetic characteristics and/or chemical properties in the process of production.
essential producer goods
the standard set by government commodity offices that must be met for export products.
established standard
refers to the EV ascertained and duly approved by the collector of customs and/or commissioner of customs; or EV applied in a discrepancy report approved by the collector of customs and/or commissioner of customs.
established value
currency now officially used by member-economies of the European Community of the European Union.
Euro
deposits denominated in U.S. dollars at banks and other financial institution outside the U.S.
Eurodollars
an association of European countries that undertakes activities to operate a common market for coal and steel, and attempts to remove barriers to trade in coal, coke, steel, pig-iron, and scrap iron.
European Coal Steel Community
