Tariffs and Customs Terms E.1.53

Question 1

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

Answer 1

European Commission

Question 2

a body that formulates product standards among members of the European Community and the European Free Trade Association.

Answer 2

European Committee for Standardization

Question 3

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

Answer 3

European Community

Question 4

established in 1958 to support interpretation, application and enforcement of laws crafted by the European Community

Answer 4

Europe Court of Justice

Question 5

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.

Answer 5

European Economic Area

Question 6

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.

Answer 6

European Economic Community

Question 7

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.

Answer 7

European Free Trade Association

Question 8

former system aimed at stabilizing exchange rates among Europeans currencies

Answer 8

European Monetary System

Question 9

an agreement between European nations to centralize and standardize patent laws and procedures.

Answer 9

European Patent Convention

Question 10

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.

Answer 10

European Patent Office

Question 11

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).

Answer 11

European Union

Question 12

European countries that use the eiro as their currency.

Answer 12

euro-zone

Question 13

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.

Answer 13

evidence

Question 14

an umbrella agreement between a highly-developed economy and a government agency of a developing country to facilitate reciprocal trade

Answer 14

Evidence account

Question 15

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.

Answer 15

examination of goods

Question 16

a deviation from the class rate

Answer 16

exception rate

Question 17

fiscal measures that restrict the inflow and outflow of foreign and domestic currencies, gold, and other assets to stabilize balance of payments problems

Answer 17

exchange controls

Question 18

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.

Answer 18

exchange rate

Question 19

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.

Answer 19

excise tax

Question 20

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.

Answer 20

excise duty

Question 21

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.

Answer 21

exclusion list

Question 22

an agent who represents only one client or principal and is not an employee of the latter.

Answer 22

exclusive agent

Question 23

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

Answer 23

Exclusive Economic Zone

Question 24

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.

Answer 24

exclusive patronage agreements

Question 25

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.

Answer 25

executive order