Tariffs and Customs Terms I.1.73 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
sale of property through a series of payments
installment sale
successive shipments permitted under a letter of credit (L/C) for a prescribed period. If not shipped in time, the credit ceases to be available unless otherwise authorized in the L/C.
installment shipments
warranties that fix the standard trading limits of vessel not engaged in regular services. For example, these warranties prohibit voyages in far northern or Antarctic regions due to marine perils, such as icebergs
institute warranties
a thermal container without a cooling or heating device
insulated container
traffic lift vans, cargo, vans, shipping tanks, skids, pallets, caul boards, and cores for textile fabrics, used in global transport of goods
Instrument on international
container a container frame that holds one or more thermal tanks for liquid cargo
insulated tank
a ship, goods, or other movables exposed to marine perils
insurable property
a certificate used to assure the consignee that an insurance has been provided to cover cargo damage or loss during the course of transport.
insurance certificate
a contract whereby an insurance firm undertakes to indemnify the insured ship or cargo for damage or loss during the course of transport.
insurance
the party that undertakes to indemnity the insured in case of damage or loss to cargo or ship
insurance company
the insurance contract that specifies the nature of the risk or perils insured by the exporter or importer of goods during the entire course of transport. It sets forth the terms and conditions of the contract, the amount of policy, the rights and obligations of parties, etc.
insurance policy
the beneficiary to whom compensation will be paid according to the terms of an insurance contract
insured
in marine cargo insurance, it is the mount arrived at by adding invoice cost, guaranteed freight, other costs, and insurance premium, plus a percentage commonly fixed at 10% This usually represents landed value
Insured value
measure a phrase in, timber trade that means all deals, battens, boards, scantlings, and ends, whether fully cut or scant, are considered in their customary dimension.
intake measure
carriers that have both air and ground fleets, of other combinations, such as sea, rail, and truck. Since they usually handle thousands of shipments or parcels an hour, they are less expensive and offer more diverse services than do regular carriers.
integrated carriers
a publication or regulations that govern import export operations in the European Community
Integrated Tariff of the European Community
the bundle of rights vested on persons or entities over their intellectual creation, like patents, copyrights, trademarks, know-how, design, and moral. rights. These rights gives the creators the exclusive right over the use of the creation for a certain period
intellectual property rights
following the provisions of the United Nations Commission on International Trade Law, it conducts arbitration and conciliation of trade disputes throughout the Western Hemisphere.
Inter-American Commercial Arbitration Commission
internal arrangements.
Inter-Arr
pieces of hardware that fit into the comer holes of a container. These connectors are turned or twisted to lock the container.
inter-box connector
- transfer of cargo and equipment from one carrier to another
Interchange
- communication between business partners, in the form of a structured set of messages and service, using electronic data interchange
Interchange
sea port operations carried out between coasts (e.g. between Pacific coasts and Atlantic coasts)
inter-coastal
water carriers that transport cargo between East and West Coast ports of the U.S. via the Panama Canal.
inter-coastal carriers
a method of offsetting foreign exchange payable to against receivables from, parent/affiliate companies on a continuing basis.
intercompany open account/offset arrangement
