Tariffs and Customs Terms I.1.72 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
use of computer for trade promotion.
informatics
a term that includes all kinds of technology used to store; analyze, or retrieve information often through computers
information technology
a multilateral agreement under the World Trade Organization that aims to eliminate tariffs, and non-tariff barriers to global trade of information technology products, like computer hardware, semi-conductor and integrated circuits, computer software, telecommunications equipment, etc.
Information Technology Agreement
like the Information Technology Agreement, this is the second phase of an attempt to eliminate tariff and non-tariff barriers to global trade of information technology products. A wide array of products has been included under this phase.
Information Technology Agreement Il
a situation wherein the consignee has been informed of the arrival of goods and/or equipment at a transit area or final destination.
informed consignee of arrival
a company that has some export experience usually averaging between one and 50 shipments annually but which still needs assistance to increase the size of its export marker or expand into new ones
infrequent exporter
any violation or piracy of copyright, patent, or trademark right of a person or firm
infringement
a charter clause which stipulates that if a ship chooses to loaa or discharge cargo in several ports of a geographic area, she still has to load or discharge at the originally agreed ports to prevent deviation. If the carrier fails to do so, he will shoulder the extra expenses for fuel or delay
ingeographical rotation
advantage of one mode of transport (in terms of cost and service benefits) over another
inherent advantage
a defect or inherent quality of the goods, or their packing, which, of itself, may contribute to their deterioration, injury, wastage and final destruction in, or after, transport, without any negligence or other contributing causes on the part of the shipper or the carrier.
inherent vice
a situation wherein the ship is in operation for charter voyage
in-hire
a right held by a member of the General Agreement on tariffs and Trade (GATT) to seek compensation if another GATT country violates certain tariff concession in the course of trade
initial negotiating right
the start of an anti-dumping investigation made through a written application of any aggrieved person or firm protesting against dumping of imported goods
inflation of action
an element of dumping which means that there exists material injury, or threat thereof, or retardation of a domestic market. It may be discerned from the volume, effect, and impact of the imported goods dumped into a country
injury
a bill of lading used in transporting goods by land; up to the exporter’s ocean-going carrier. Although a through bill of lading can sometimes be used, it is usually necessary to prepare both an inland bill of lading and an ocean bill of lading for export shipments
inland bill of lading
a carrier that moves export or import cargo between ports and inland points
inland carrier
an area where cargoes (especially those in container) may be cleared by Customs
inland clearance depot
a system of transport carriers that operate through navigable rivers
inland water transport
the value-added tax (VAT) paid by a VAT-registered person of firm in the course of importation or local purchase of goods or services, including lease or use of property. from a VAT-registered person. It includes input tax determined in accordance with the National Internal Revenue Code of the Philippines
input tax
a system whereby imported goods, which fall within the limits of a Minimum Access Volume, can be imported at lower tariff rates
in quota tariff
a phrase that means a ship will take her turn in the order of arrival with the other ships.
in-regular return
a legal action against the property, the res, with the objective of disposing it, without regard to title of a claimant., Thus, all Customs seizure proceedings are instituted against the cargo, not its owner or claimant.
in rem action
a condition wherein a person or firm is unable to pay obligation due to bankruptcy, or when liabilities exceed assets
Insolvency
a document issued by an agency, often a testing firm, which describes the goods, their quantity, customer, contractor, time and place of inspection, and findings
inspection certificate
satisfaction of obligation through a series of payments
installment
