Tariffs and Customs Terms LM.1.82 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
factors that determine a facility’s location
locational determinant
a space in a canal (e.g. Suez Canal or Panama Canal) enclosed by walls so that a vessel can be floated up or down at a different sea levels.
lock
dues imposed for the use of a lock (in the Panama Canal or Suez Canal) and charged according to tonnage.
lock dues
a locked compartment in a shed or vessel used to safeguard valuable articles.
locker
encoding of details of an import entry in a customs computer system.
lodgment
a daily report of all events and particulars of a vessel, attested to by proper authorities as a true record
logbook
daily record of a driver’s activities; driving, off-duty, sleeping, on duty but not driving, etc.
logbook
a computerized system that transmits logistics information electronically.
Logistics data interchange
an agreement forged in Lome, Togo, in 1975, to govern the implementation of aid program and trade tariff preferences given to African, Caribbean, and Pacific economies, when they transact with the European Community.
Lome Convention
a draft drawn to last more than 30 days.
long bill
similar to continuous dumping, it le a kind of dumping that takes place during an indefinite period
long run dumping
refers to 2.240 pounds.
long ton
synonymous to the British “heavy goods vehicles”, it is a large four wheeled motor truck used to transport goods
lorry
a situation wherein import goods are no longer wanted by the consignee upon arrival. This is considered a business loss that cannot be recovered under a marine cargo insurance policy.
Loss of market
the quantity of goods a company purchase or products for use or sale.
lot size
normally loaded in larger containers, these goods include paper towels, plastics, and similar articles
low density goods
cargo with a low-bulk, high-weight relation, meaning, relatively compact, heavy cargo that fills up less space.
low stowage factor
a less-than-truck load shipment that weighs less than what a company minimally needs.
LTL shipment
a crane that can move or load cargoes horizontally.
luffing crane
refers to traveler’s baggage, suitcases, boxes which are usually accompanied by passengers
luggage
also known as the Treaty of European Union, it attempts to a) commit the 12 members of the European Economic Community (EEC) to both a European Monetary Union and a political union, b) introduce a single currency, the euro, c) establish a European System of Central Banks, d)create a European Central Bank, and e) broaden EEC integration by including both a common foreign and security policy, and cooperation in justice and home affairs.
Maastricht Treaty
shall refer to capital equipment, major components therof, non-perishable tools, machines and other mechanical, chemical and or electrical apparatus, whether fixed or movable, needed in the registered operations of the ECOZONE Enterprise.
machinery and equipment
imported vehicles with nine seats or less
luxury vehicles
a provision in a charter contract that means a fixed lump sum will be paid by the charterer regardless of the volume of cargo shipped,
lump sum charter
means any statutory law concerning carriage of goods, the provisions of which cannot be departed from by contractual stipulation to the detriment of the merchant.
mandatory national law
