Tariffs and Customs Terms E.1.53 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
one of five major institutions of the European Community, it ensures, among others, enforcements of rules and obligations; submission of proposals to the EC Council of Ministers, execution of the Council’s decisions; conciliation of disputes among Council members; administration of EC policies, such as the Common Agricultural Policy and coal and steel policies; taking legal action against erring firms or member-governments; representing EC in trade negotiations with non-member countries
European Commission
a body that formulates product standards among members of the European Community and the European Free Trade Association.
European Committee for Standardization
the regional trade arrangement among Belgium (1958), Denmark (1973), France (1958), Germany (West, 1958), Greece (1981), Ireland (1973), Italy (1958), Luxembourg 1958), Netherlands (1958), Portugal (1986), Spain (1986), and the United Kingdom (1973). It provides for elimination of Customs duties and other trade barriers, and applies a common external tariff against non-members. The term has been used interchangeably with the European Economic Community (EEC), although strictly speaking, EEC is a regional organization under EC. The EC is presently known as the European
European Community
established in 1958 to support interpretation, application and enforcement of laws crafted by the European Community
Europe Court of Justice
an organization of countries under the European Community and the European Free Trade Association (except Switzerland). It consists of Austria, Finland, Iceland, Norway, Sweden, and the 12 members of the European Union. It promotes free movement of goods, persons, services, and capital. It is a free trade area, not a Customs union.
European Economic Area
the predecessor of the European Community, EEC is one of three separate regional organizations under the European Community. The other groups are the European Atomic Energy Community and the European coal and Steel Community.
European Economic Community
a regional trade arrangement among Austria, Finland (1961), Iceland (1970), Liechtenstein (1991), Norway, Sweden and Switzerland, it was established in December 1959 by the Stockholm Convention as an alternative to the common market to provide a free trade area for industrial products among member countries. In contrast with the European Community, EFTA neither has a common external tariff nor a common agricultural trade policy.
European Free Trade Association
former system aimed at stabilizing exchange rates among Europeans currencies
European Monetary System
an agreement between European nations to centralize and standardize patent laws and procedures.
European Patent Convention
an office that promotes easier, cheaper, and more reliable patent protection by establishing a single procedure for granting patents based on a single European patent law.
European Patent Office
refers to the European Community and European integration efforts introduced by the Maastricht Treaty, like common Foreign and Security Policy (including defense), and Justice and Home Affairs (principally cooperation between police and other authorities on crime, terrorism, and immigration issues).
European Union
European countries that use the eiro as their currency.
euro-zone
it is the mode and manner of proving competent facts and circumstances on which a party relies to establish the fact in dispute in judicial proceedings and is fundamentally procedural law.
evidence
an umbrella agreement between a highly-developed economy and a government agency of a developing country to facilitate reciprocal trade
Evidence account
inspection of a shipment by Customs officials to verify if the nature, origin, condition, quantity, and value of the goods conform with the particulars declared by the importer.
examination of goods
a deviation from the class rate
exception rate
fiscal measures that restrict the inflow and outflow of foreign and domestic currencies, gold, and other assets to stabilize balance of payments problems
exchange controls
refers to the rate of exchange between the US Dollar and the currency of the country where the cargo came from. The other currency is to be represented at the top of the box by the currency code (Annex “G”) of the country followed by the rate thus THB 25.30 per dollar. The lower portion, as indicated, is to show the rate between the Philippine Peso (PHP) and the US Dollar (USD), thus PHP 25.44.
exchange rate
a kind of tax impose on sale, consumption, or manufacture of luxury goods in the country of origin. It is a tax that is imposed on the performance of an act, the engaging in an occupation, or the enjoyment of a privilege.
excise tax
a change or toll payable on certain goods produced and consumed within the country, It is also paid for licensed e.g. for the sale.
excise duty
a list of products that are not afforded tariff preferences under the Common Effective Preferential Tariff (Scheme) for the ASEAN Free Trade Area. In the case of the Philippines, the list includes unprocessed agricultural products, petroleum-based items. garments, paper, motor vehicle, processed food, sensitive items, and those falling under general exceptions.
exclusion list
an agent who represents only one client or principal and is not an employee of the latter.
exclusive agent
refers to the rights of coastal states to manage, conserve, and control all resources of the sea up to 200 miles from their coasts while allowing navigation of foreign ships beyond 12 miles, as agreed at the 6th session of the 3rd United Nations Conference on the Law of the Sea
Exclusive Economic Zone
under these terms, a shipper agrees to use only a vessel, which is a member of a conference, in return for 10% to 15% freight rate reduction.
exclusive patronage agreements
these are rules and regulations promulgated by the President, to implement or carry out his administrative function as head of all departments. Executive Order has the force and effect of law.
executive order
