Tariffs and Customs Terms L.1.79

Question 1

loss of a vessel’s cargo due to leakage or breakage during voyage

Answer 1

leakage

Question 2

a contract whereby one party gives to another the use of property or equipment for a specific period; in consideration of payment.

Answer 2

lease

Question 3

weight of the goods and their immediate packing or wrapper.

Answer 3

legal weight

Question 4

a ship’s maximum length and width

Answer 4

length and breadth

Question 5

maximum length of a ship.

Answer 5

length over-all

Question 6

a person or firm to whom a lease is granted. lessor a person or firm that grants a lease.

Answer 6

lessee

Question 7

a container loaded with cargoes covered by more than one bill of lading and belonging top a number of consignees. This denotes articles in any quantity intended for carriage in a container. The goods delivered to the carrier for containerization may be consolidated with other cargoes to fill a box or package. The carrier is responsible for packing and unpacking of goods into, and from, the container.

Answer 7

less-than-container load

Question 8

a term that means the quantity or volume of goods does not fill up a truck’s space

Answer 8

less than truckload truck’s

Question 9

a written request of a bank to advance money or credit to a third person. Upon fulfillment on conditions by the letter, on the promise of the issuing bank to repay the same.

Answer 9

letter of credit

Question 10

a banker’s document that specifies the goods made collateral by an exporter, and empowers the bank to repossess such goods if the loan defaults.

Answer 10

letter of hypothecation

Question 11

a letter sent by a manufacturer guaranteeing against any loss or claim that may arise if the cargo is shipped in dab order. It is also used to allow the consignee to receive the goods without surrender of bill of lading or to indemnify a bank against documents that are not in order.

Answer 11

letter of indemnity

Question 11

a letter or certificate issued by a local manufacturer indicating that he does not object to the fact that other producers also import similar articles he manufactures.

Answer 11

letter of no objection

Question 12

expenses incurred by the owner of a chartered vessel for the leveling of sulfur, and other similar cargoes in bulk.

Answer 12

leveling charges

Question 13

to impose and collect tax.

Answer 13

levy

Question 14

legal responsibility that attaches to a person for his acts, omission, or negligence.

Answer 14

liability

Question 15

a situation wherein certain commodities, previously restricted or regulated by government, have been allowed to be imported without limit.

Answer 15

liberalized

Question 16

an authority given by a government agency to a person or firm to conduct a particular business. licensee holder of license.

Answer 16

license

Question 17

holder of license.

Answer 17

licensee

Question 18

a legal claim over real or personal property for the satisfaction of certain debt or obligation.

Answer 18

lien

Question 19

weight of an individual cargo being lifted or carried.

Answer 19

lift

Question 20

tankers and barges loading petroleum at a terminal or transshipment point

Answer 20

lifting

Question 21

the act of recovering or nullifying a hold or alert order against imported shipments

Answer 21

lifting

Question 22

hoisting of shipments, vehicles, container, by means of cranes, stackers or spreaders

Answer 22

lifting

Question 23

containership a container that can be handled even without gears or equipment of a vessel

Answer 23

lift-off

Question 24

loading and discharge of cargo through the ship’s cranes or derricks.

Answer 24

lift-on lift-off