Tariffs and Customs Terms EF.1.56 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 person or firm that arranges and delivers express consignments. It issues its own air way bill to shippers under its solicitation service.
express cargo operator
consolidated air cargoes that must be delivered fast and directly to individual consignees.
express consignment
warranty a kind of warranty in marine insurance policy expressed in words, and from which an intention to give warranty may be clearly inferred.
express warranty
a marine peril involving ship breakage and leakage, theft and pilferage. stealing, non-delivery of cargoes.
extraneous peril
outside the boundaries of a country.
extra-territorial
a trading arrangement wherein the sellers fulfills his obligation to deliver goods to the buyer at the factory or warehouse. The buyer bears all costs and risks of loading of * goods, and their delivery to destination.
Ex-Works
the total price of goods, taking into account the production cost, packing, marking, containerization, labeling, and manufacturer’s profits.
Ex-Works price
includes the costs for labor and assembly, and indirect costs for factory supervision, maintenance, payment for overtime.
fabrication cost
(Spanish: factura) invoice
fact
a firm that administers the sales ledger and collects payments in behalf of an exporter.
factoring company
a firm that purchases collectibles or accounts of an exporter at a discounted price, usually about two to four percent less than their face value.
Factoring house
a plant or facility where production or assembly of goods takes place.
factory
delivery of goods by a factory whereby the goods are put at the disposal of another party, like a commercial department.
factory delivery
costs of production, like indirect materials, indirect labor, factory supplies and equipment, and other indirect expenses.
factory overheads
under the COA Circular, there is failed bidding where there is only one offeror or where all the offerors are disqualified.
Failed bidding
published brochures and readings distributed in trade fairs and exhibits.
fair catalog
the price at which a seller will sell, and a buyer will buy, voluntarily and aware of relevant facts
fair market value
similar to a reasonable rate, it is a profit which enables a carrier to recoup his investment at a fair rate, taking into account the business risk. See also reasonable rate.
fair return
the value of a carrier’s property, which computation includes original cost minus depreciation, replacement cost, and market value.
fair value
part of a waterway kept navigable.
fairway
value the last method of Customs value, it is based on previously determined values and methods in their original order and applied with flexibility without resorting to capricious or arbitrary manner.
fallback
a scheme under the Common Effective Preferential Tariff which reduced tariff rates of certain products to 0-5% last 1998 and early 2000.
fast-track tariff reduction
when the wrongful act result from prudence, negligence lack of foresight.
fault
free of capture, seizure, arrest, detainment, and the consequences thereof, and damage caused by riots and civil commotion.
f.c.s.r.c.c
American federal agency that enforces air transport safety regulations
Federal Aviation Administration
