Tariffs and Customs Terms OP.1.94

Question 1

to stack cargo on top of another aboard a ship.

Answer 1

overstow

Question 2

allocation a system of giving quota to garments exporters over the counter. Quotas are bid out based on projected FOB (free on board) price of export products.

Answer 2

over-the-counter quota

Question 3

long-distance, inter-city transport operations.

Answer 3

over-the-road

Question 4

a marine insurance clause which stipulates that the ship-owner participates in the policy for its own account. In case of total loss of the ship, he will be indemnified for the fill insured value

Answer 4

own risks

Question 5

a non-government organization founded in 1980, to promote cooperation among Asia-Pacific countries: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, the Pacific Islands, Peru, Philippines, Russia, Singapore, Taiwan, Thailand, and the U.S.

Answer 5

Pacific Economic Cooperation Council

Question 6

a trade agreement under the framework of the Asia-Pacific Economic Cooperation, forged among the U.S., Australia, New Zealand, Singapore, and Chile, to remove trade tariffs.

Answer 6

Pacific Five

Question 7

an informal term that generally refers to Canada, U.S., Japan, People’s Republic of China, and Taiwan, but it may also include Australia, Brunei, Cambodia, Hong Kong/Macau, Indonesia, Laos, North Korea, South Korea, Malaysia, New Zealand, the Pacific Islands, Philippines, Russia, Singapore, Thailand, and Vietnam. Usage sometimes includes Mexico, the countries of Central America, and the Pacific coast countries of South America

Answer 7

Pacific Rim

Question 8

any piece of cargo consisting of contents and packaging

Question 9

the final product of a packing operation

Answer 9

package

Question 10

the shape of a package to be transported

Answer 10

package type

Question 11

all articles or holder used to cover, wrap, contain, or protect goods during handing, transport, sale, or distribution. It excludes articles of transport equipment such as pallets and containers

Answer 11

packaging

Question 12

refers to the Customs convention on the temporary importation of packings, (Brussels, Belgium, October 6, 1960) which took effect on March 15, 1962.

Answer 12

packing convention

Question 13

the cost of packaging a shipment, plus expenses incurred for labor, fumigation, cleaning, coating, wrapping, container loading, etc.

Answer 13

Packing cost

Question 14

a document that specifies how goods should be packed.

Answer 14

packing instructions

Question 15

a short-term letter of credit (L/C) issued by a negotiating bank, with a peso equivalent from 50% to 80% of the L/C face value

Answer 15

Packing letter of credit

Question 16

a document that contains the quantity an kinds of packages, their contents, the net and gross weight in kilograms, the full dimensions and size of each package. it supplements the commercial invoice when numerous items are being shipped, or when the quantity, weight or content of articles in a shipment vary.

Answer 16

packing list

Question 17

shall refer to wrapping materials, receptables and containers, tags, labels, and such other materials as are necessary to put the product in exportable form

Answer 17

Packing materials

Question 18

a package for a standard quality of goods of particular brand, without additional packaging for storage and shipment

Answer 18

Packing unit

Question 19

a wooden platform used for assembly, storage, handling, and transport of goods, by means of fork lifts. It facilitates movement of goods form one factory to another, from the manufacturer to the consumer as a unit load, or through international channels as self-contained unit load, or within a container.

Answer 19

pallet

Question 20

a situation wherein articles have been put in a pallet loads

Answer 20

palletized

Question 21

a rigid or flexible skeleton framework that supports a number of pallet loads.

Answer 21

pallet rack

Question 22

refers to the European convention on Customs treatment of pallets used in international transport (Geneva, Switzerland, December 9, 1960), which took effect on June 12, 1962.

Answer 22

pallets convention

Question 23

a lift truck with forks not intended as a stacker.

Answer 23

pallet truck

Question 24

machine a machine that binds a pallet’s contents by means of metal or plastic wrapper.

Answer 24

pallet wrapping

Question 25

size the maximum dimension of a ship that can pass through the Panama Canal.

Answer 25

Panamax