Tariffs and Customs Terms L.1.81 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
to ascertain with finality the duties and taxes on imported shipment
liquidate
to pay a debt or obligation.
liquidate
a situation wherein the operator stays with the trailer or boxcar during cargo loading or unloading.
live
a daily British publication that provides data or names of vessels, their arrivals and departures, ports of call, and destination.
Lloyd’s List
adopted in 1779, it is the standard form of modern marine insurance contract
Lloyd’s policy
a British ship classification society.
Lloyd’s Register of Shipping
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.
Lloyd’s Voyage Records
the quantity, volume, or nature of goods carried by a means of transport or vessel.
load
the weight of the ship when loaded to the depth of her seasonal water line
load displacement
the system of maximizing the cargo carrying capacity of a means of transport.
load factor management
the process of bringing cargo into a means of transport or vessel.
loading
allowance a reduced freight rate for less-than-truck load shipments.
loading allowance
a flat surface that facilitates loading of cargo alongside a warehouse.
loading platform
a document showing that a ship has been surveyed, inspected, and marked
load line certificate
a calculator that measures the vessel’s stability, and is approved by a ship classification society
loadmaster
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.
loan on bottomry
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.
loan on respondentia
a requirement in production wherein the raw materials or parts thereof must come from local to bolster the growth of a domestic industry concerned.
local content
subsidy of export goods that use domestic inputs
local content subsidy
a raw material found only in certain locations.
localized raw material
a port not served by a liner shipping company.
local port
to pinpoint the exact site of goods.
locate
an area in a container yard or warehouse where a container or shipment is deposited.
Location
an accredited and duly-registered firm operating business in a Special Economic Zone
locator
an employee of the arrastre company who determines the location of shipments in the Customs zone or container yard.
locator
