Tariffs and Customs Terms F.1.59

Question 1

a floating structure that can be partially submerged to enable vessels to enter and leave a port, and which can be raised as a dry dock

Answer 1

floating dock

Question 2

a marine insurance policy that describes the insurance in general terms and leaves the name of the vessel and other details for later declaration, which may be made by indorsement on the policy or in other customary manner

Answer 2

floating policy

Question 3

refers to the Free on Board value in dollars, commonly used in shipping documents or arrived at by deducting other factors such as freight and/or insurance.

Answer 3

fob value

Question 4

the lowest price of an article or lot offered for bidding in a public auction.

Answer 4

floor price

Question 5

refers to the Protocol to the Agreement on the importation of educational, scientific, and cultural materials, held at Nairobi, Kenya, on November 26, 1978

Answer 5

Florence Agreement

Question 6

articles floating at sea due to shipwreck.

Answer 6

flotsam

Question 7

the direction of flow in which pallets have been positioned and stowed

Answer 7

flow line

Question 8

an exporter, importer, or trader without due accreditation, deals in shady or illegitimate businesses, or has poor business reputation

Answer 8

fly-by-night

Question 9

refers to an isolated policed area adjacent to a port of entry (such as a seaport) and/or airport where imported goods may be unloaded for immediate transshipment or stored, repacked, sorted, mixed, or otherwise manipulated. However, movement of these imported goods from the free-trade area to a non-free-trade area in the country shall be subject to customs and internal revenue rules and regulations

Answer 9

free trade zone

Question 10

commodities these are commodities the importations of which neither regulated or prohibited. They may be effected without the prior approval of/or clearance from any government agency.

Answer 10

freely importable commodities

Question 11

means offers or sales to purchasers at wholesale without restrictions as to the disposition or used of the merchandise by the purchasers, except restriction as. to such disposition or used except those imposed by law.

Answer 11

freely offered for sale

Question 12

A stowage from the ship’s bow to the stem (lengthwise), as opposed to stowage from one side to another

Answer 12

fore and aft stowage

Question 13

1. The amount of cargo expected to be booked for a certain vessel

Answer 13

forecast

Question 14

2. The number of containers expected to be used in a certain area

Answer 14

forecast

Question 15

Front of a vessel where stores, ropes and anchor chains are kept.

Answer 15

forecastle

Question 16

Japan’s version of free trade zone established around airports and seaports, with global facilities for warehousing, cargo-sorting, distribution, import processing, wholesale, exhibition

Answer 16

Foreign Access Zone

Question 17

authority issued by the collector of Customs, or his agent to effect transfer of cargo form an airport of discharge to a foreign port

Answer 17

Foreign air transshipment permit

Question 18

A sales office maintained abroad and manned by the exporter’s employees.

Answer 18

foreign branch office

Question 19

A sales to a non-resident of goods, assembled of manufactured in the Philippines for delivery to a resident therein, paid for in acceptable foreign currency and accounted for pursuant to rules of the Bangko Sentral ng Pilipinas.

Answer 19

foreign currency denominated sales

Question 20

Reports from U.S. embassies describing the commercial trends, performance of American exports, foreign debt profile, and the fiscal policies of various countries.

Answer 20

foreign economic trends

Question 21

foreign currency expressed in the units of account of another country.

Answer 21

foreign exchange

Question 22

Purchase or sale of currency of a nation with that of another

Answer 22

foreign exchange transaction

Question 23

foreign vessels registered in countries other than the Philippines.

Answer 23

foreign fishing vessels

Question 24

shall mean those articles imported into the Philippines, except those previously exported therefrom and returned having been advanced in value or improved in condition by any process of manufacture or other similarly artificial means or processes and upon which no drawback or bounty has been allowed.

Answer 24

foreign merchandise

Question 25

A port outside a country’s jurisdiction

Answer 25

foreign port