Tariffs and Customs Terms IJ.1.76

Question 1

exports that generate foreign exchange through tourism, shipping, foreign investment, banking, and other services

Answer 1

invisible exports

Question 2

non-merchandise or intangible imports and exports, such as financial services

Answer 2

invisibles

Question 3

administrative measures taken by an importing government as an indirect protectionist policy against imports. These include marking regulation, safety and heart standards, labeling and container regulation, product standards, etc.

Answer 3

invisible tariff

Question 3

sometimes called a “bill” or “statement of goods” sold, and usually made to accompany an export shipment, it specifies the goods, their value, quantity, other particulars, subject of a sale between a buyer and a seller.

Answer 3

invoice

Question 4

a manifest that lists cargoes aboard a ship (including their marks, numbers, quantity, description of packages, consignees) from overseas.

Answer 4

inward foreign manifest

Question 4

the value or price declared in the covering commercial invoice, trade or sales invoices.

Answer 4

invoice value

Question 5

a Customs regime implemented in the European Community (EC), which allows duty-free importation of raw materials, provided they are processed or manufactured for export overseas.

Answer 5

Inward Processing Relief

Question 6

customs procedures involved in clearing an imported shipment.

Answer 6

inwards Customs clearance

Question 7

a carrier that provides transport service on any route.

Answer 7

irregular route carrier

Question 8

a document sent by the importer to the exporter once trade negotiation and terms of sale have been agreed upon.

Answer 8

irrevocable corporate purchase order

Question 9

a letter of credit the terms of which can only be amended or-canceled with the consent of the issuing bank and the exporter. The terms are irrevocably fixed, and the exporter is assured of payment provided the documents comply with the terms.

Answer 9

irrevocable letter of credit

Question 10

otherwise known as the opening bank, it is the bank which issues the letter of credit upon application by an importer

Answer 10

issuing bank

Question 11

the carrier that uses an air waybill or bill of lading.

Answer 11

issuing carrier

Question 12

the route taken by a means of transport indicated by the ports of call or other locations; It includes estimated dates of arrival and departure.

Answer 12

itinerary

Question 13

a stipulation in a charter contract that in case of maritime accident wherein the ship-owner is not responsible, the shipper of cargo, consignee, or owner contributes with the ship-owner in general average

Answer 13

Jason clause

Question 14

goods thrown into the sea and sink.

Answer 14

jetsam

Question 14

a version of SITPRO in Japan.

Answer 14

Jastpro

Question 15

a marine or sea peril that involves throwing overboard of a ship’s cargo, equipment, and stores to lighten her load and stay afloat.

Answer 15

jettison

Question 16

a port structure that projects out the sea to block waves and serves as berthing area for ships.

Answer 16

jetty

Question 17

refers to pearls, precious and semi-precious stones, or ornamented, mounted or fitted with precious metals imported for the local manufacture of fine or imitation jewelry. It includes imitations.

Answer 17

jewelry

Question 18

the direct inputs in jewelry making.

Answer 18

Jewelry raw materials

Question 19

the other raw materials used in jewelry, such as clasps, chains in spools, wires, sheets, findings, setting; rubber molds, cleaning solution, soldering pads, binding wires, points wheel, and sharpening stone; and consumables, such as injection waxes, powder, fluxes, solders, enamels, electroplating materials, and polishing compound.

Answer 19

jewelry supplies

Question 20

arm of a crane that extends outwards. At one end hangs a hook that lifts goods.

Answer 20

jib

Question 21

a middleman

Answer 21

jobber

Question 22

the best price that can be negotiated from a supplier. This price is between 25% to as much as 60% lower than the manufacturer’s wholesale price.

Answer 22

jobber’s price