Tariffs and Customs Terms E.1.55

Question 1

a Customs document or form wherein the details of an export shipment (quantity, nature, weight volume, value, shipper, consignee) are specified.

Answer 1

export entry

Question 2

the supplier, vendor, seller, consignee, or his agent, who exports goods.

Answer 2

exporter

Question 3

a type of credit insurance wherein the insurance firm undertakes to pay a percentage of the buyer’s unpaid obligation through a promissory note or other obligation.

Answer 3

export finance insurance

Question 4

firms that provide marketing assistance, export management, and extend credit to exporters. They may buy and sell goods directly on their own account.

Answer 4

export houses

Question 5

a bank that lends credit to Japanese exporters.

Answer 5

Export-Import Bank of Japan

Question 6

a Philippine law that provides tax credit, reduced income tax, tax exemption on capital equipment, exemption from export tax, export assistance fund, and other incentives, to exporters.

Answer 6

Export Incentives Act of 1970

Question 7

the country from which a commodity is exported.

Answer 7

exporting country

Question 8

a government permit issued to a person or firm to engage in export business.

Answer 8

export license

Question 9

a firm that acts as a purchasing agent for either the buyer or the seller, and on commission basis.

Answer 9

export management company

Question 10

executives who provide complete export management service and handle. export functions required by their principals. They serve as a firm’s virtual export department and get paid commission or regular retainer.

Answer 10

export managers

Question 11

a company that buys goods directly from manufacturers, then packages and marks them for sale overseas under its own name. He does not hire a broker compare with import merchant.

Answer 11

Export merchant

Question 12

potential the practical viability of producing goods for a foreign market.

Answer 12

export potential

Question 13

the Ex-Works price at the point of sale for export, or the FOB (free on board) price at the point of shipment

Answer 13

export price

Question 14

under the Anti-Dumping law, it is the price at which the product has been purchased or agreed to be purchased, at arm’s length transaction, by the person by whom, or for whose account the product is imported. It excludes post-export charges like freight or insurance.

Answer 14

export price

Question 15

an industrial area for enterprises that engage primarily on manufacture of export goods.

Answer 15

Export Processing Zone

Question 16

a service government corporation created in November 1972 through P.D. No. 66. the EPZA operates and manages the zones with the goal of making them major contributors to the countries industrialization and export expansions programs.

Answer 16

Export Processing Zone Authority

Question 17

an economic policy of giving assistance to exporters through counseling, training and representation, provision of market information, trade fair opportunities, and credit financing.

Answer 17

export promotion

Question 18

is a privilege, but once a party has been enjoying it for some time, it evolves into some form of property right which should not be removed from it arbitrarily and without due process only to hurriedly confer on another.

Answer 18

export quota

Question 19

a system that limits the amount or volume of products that may be exported to a particular country. This intends to product domestic producers and consumers from temporary shortages of such goods, or as a means to achieve moderate world prices of specific commodities. See also quota system.

Answer 19

export quota system

Question 20

shall mean the manufacture, processed and/or assembled products, whether physical or non-physical, belonging to the class of products approved by the Board to be undertaken by the enterprise, including such packing materials and containers as may be necessary to put the product into exportable form.

Answer 20

export product

Question 21

a freight rate especially imposed on export goods and generally lower than the, domestic freight rate.

Answer 21

export rate

Question 22

data that measure the quantity or value of all exported goods, whether from within customs territory, from a bonded warehouse, or from a free port.

Answer 22

export statistics

Question 23

in an acceptable foreign currency, or its equivalent in goods or services, b) raw materials or packaging to a non-resident buyer, for delivery to a local export-oriented firm, c) raw materials or packaging to an export-oriented firm, which export sales exceed 70% of annual production, d) gold to the Central Bank of the Philippines, e) those made under Philippine law.

Answer 23

exports good paid

Question 24

electronic, components and products, garments and textiles, furniture, processed foods, metal components and parts, shrimps, prawns, fish product, gifts and houseware, carageenen and seaweed, jewelry and ceramics, marble, information technology services, construction services, and professional services.

Answer 24

export winners

Question 25

a kind of abandonment effected through a letter (notarized or coursed through a custom officer) by an importer, or his agent, to the collector of Customs signifying intention to abandon cargo.

Answer 25

express abandonment