Tariffs and Customs Terms M.1.84 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
a contract either for chartering of a vessel or a shipping of goods by sea.
marine contract
a marine insurance clause that extends coverage even during. deviation, delay, re-shipment, transshipment, or any variation in the normal transit of cargo.
marine extension clause
a kind of insurance against all risks related to navigation, wherein a ship, cargo, freightage, profits, or other insurable interest in movable property, may be exposed during a certain voyage or period
marine insurance
hazards and perils of sea journey covered by a marine insurance policy, like fire, piracy, enemies, rovers, thieves, captures, seizures, jettisons, taking at sea, barratry, detainments of princes or kings, arrests, restraints, stranding or sinking of ship, collision, damage (due to typhoon, tempests, winds, rocks, lightning, or other acts of God), and all other similar perils.
marine perils
a written statement of the master of the vessel, arrested to by a proper judicial officer or a notary public, and sets forth that damage of the ship during voyage was caused by storm or other perils of the sea (like collision), without negligence or misconduct on his part.
marine protest
a specialist who determines the nature, extent and cause of cargo damage
marine surveyor
a Philippine government body that issues clearance for the operation of shipping lines, and for importation of warships of all kinds.
Maritime Industry Authority
laws, rules, and practices governing commerce at sea or those transactions on navigation, ships, seamen, harbors, ports, and maritime affairs.
maritime law
a place or commercial activity where goods are bought and sold.
market
the willingness of an economy to allow entry of imports that might compete. with similar goods produced locally.
market access
the means through which sale are achieved, and products distributed. For example, an article is sold to the importer, who sells it to the wholesaler, then the retailer, and ultimately to the public
market channels
a situation wherein a surge of imports in a given product line causes severe decline in sales of locally produced goods
market disruption
a subsidiary that performs the same functions and offers similar advantages and disadvantage branch office. The basic difference is that the subsidiary is incorporated as a local company.
marketing subsidiary abroad
a discussion between the U.S, and Japan to effect removal of trade barriers in telecommunications, medical equipment, and pharmaceuticals, electronics, forests productions, and car parts
Market-Oriented Sector-Selective
the price a commodity commands in the market.
market price
