Tariffs and Customs Terms L.1.81

Question 1

to ascertain with finality the duties and taxes on imported shipment

Answer 1

liquidate

Question 2

to pay a debt or obligation.

Answer 2

liquidate

Question 3

a situation wherein the operator stays with the trailer or boxcar during cargo loading or unloading.

Answer 3

live

Question 4

a daily British publication that provides data or names of vessels, their arrivals and departures, ports of call, and destination.

Answer 4

Lloyd’s List

Question 5

adopted in 1779, it is the standard form of modern marine insurance contract

Answer 5

Lloyd’s policy

Question 6

a British ship classification society.

Answer 6

Lloyd’s Register of Shipping

Question 7

these provides important shipping information just like what Lloyd’s List does, except that the use and distribution of publication is limited to copyright owners.

Answer 7

Lloyd’s Voyage Records

Question 8

the quantity, volume, or nature of goods carried by a means of transport or vessel.

Answer 8

load

Question 9

the weight of the ship when loaded to the depth of her seasonal water line

Answer 9

load displacement

Question 10

the system of maximizing the cargo carrying capacity of a means of transport.

Answer 10

load factor management

Question 11

the process of bringing cargo into a means of transport or vessel.

Answer 11

loading

Question 12

allowance a reduced freight rate for less-than-truck load shipments.

Answer 12

loading allowance

Question 13

a flat surface that facilitates loading of cargo alongside a warehouse.

Answer 13

loading platform

Question 14

a document showing that a ship has been surveyed, inspected, and marked

Answer 14

load line certificate

Question 15

a calculator that measures the vessel’s stability, and is approved by a ship classification society

Answer 15

loadmaster

Question 16

a kind of loan wherein the vessel self is made the security, on condition that the loan will be paid only if the ship arrives safely at a port of destination. If the vessel is lost due to marine peris stated in the contract, the lender losses the money loaned. Note that salaries of crew cannot be pledged.

Answer 16

loan on bottomry

Question 17

a kind of loan wherein the cargoes aboard a vessel are themselves constituted as security. If the goods are entirely lost by marine perils as per contract, the lender losses money loaned.

Answer 17

loan on respondentia

Question 18

a requirement in production wherein the raw materials or parts thereof must come from local to bolster the growth of a domestic industry concerned.

Answer 18

local content

Question 19

subsidy of export goods that use domestic inputs

Answer 19

local content subsidy

Question 20

a raw material found only in certain locations.

Answer 20

localized raw material

Question 21

a port not served by a liner shipping company.

Answer 21

local port

Question 22

to pinpoint the exact site of goods.

Answer 22

locate

Question 23

an area in a container yard or warehouse where a container or shipment is deposited.

Answer 23

Location

Question 24

an accredited and duly-registered firm operating business in a Special Economic Zone

Answer 24

locator

Question 25

an employee of the arrastre company who determines the location of shipments in the Customs zone or container yard.

Answer 25

locator