Tariffs and Customs Terms F.1.59 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 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
floating dock
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
floating policy
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.
fob value
the lowest price of an article or lot offered for bidding in a public auction.
floor price
refers to the Protocol to the Agreement on the importation of educational, scientific, and cultural materials, held at Nairobi, Kenya, on November 26, 1978
Florence Agreement
articles floating at sea due to shipwreck.
flotsam
the direction of flow in which pallets have been positioned and stowed
flow line
an exporter, importer, or trader without due accreditation, deals in shady or illegitimate businesses, or has poor business reputation
fly-by-night
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
free trade zone
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.
freely importable commodities
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.
freely offered for sale
A stowage from the ship’s bow to the stem (lengthwise), as opposed to stowage from one side to another
fore and aft stowage
- The amount of cargo expected to be booked for a certain vessel
forecast
- The number of containers expected to be used in a certain area
forecast
Front of a vessel where stores, ropes and anchor chains are kept.
forecastle
Japan’s version of free trade zone established around airports and seaports, with global facilities for warehousing, cargo-sorting, distribution, import processing, wholesale, exhibition
Foreign Access Zone
authority issued by the collector of Customs, or his agent to effect transfer of cargo form an airport of discharge to a foreign port
Foreign air transshipment permit
A sales office maintained abroad and manned by the exporter’s employees.
foreign branch office
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.
foreign currency denominated sales
Reports from U.S. embassies describing the commercial trends, performance of American exports, foreign debt profile, and the fiscal policies of various countries.
foreign economic trends
foreign currency expressed in the units of account of another country.
foreign exchange
Purchase or sale of currency of a nation with that of another
foreign exchange transaction
foreign vessels registered in countries other than the Philippines.
foreign fishing vessels
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.
foreign merchandise
A port outside a country’s jurisdiction
foreign port
