Tariffs and Customs Terms P.1.101 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
- installment payments of an insurance policy
premium
a mode of payment wherein the exporter gets paid before shipment is made.
pre-paid
high-quality goods or services
premium
the charge entered on a bill of lading or an air waybill for payment in advance by the shipper of cargo.
pre-paid charge
the time when a negotiable instrument, say a check, is given to the drawer or paying bank for encashment.
presentment
examination of export goods by a surveying firm to determine their quantity, nature; value, tariff heading, rate of duty, and other particulars. It may also be done for phytosanitary and veterinary requirements prior to shipment.
pre-shipment inspection
the placement of cargo on a vessel’s slings to facilitate cargo loading or unloading.
Pre-slinging
compressing articles (like textiles and garments) in sacks or bales
pressing
a loss that may be deduced from circumstances, as when a ship cannot be located after a lapse of time.
presumed total loss
an interference as to existence of a fact not actually known arising from its usual connection with another, which is known.
Presumption
inspection of reefer containers prior to positioning or loading of cargo.
pre trip inspection
a sum paid for an article subject of sale.
price
total payment made or to be made by the buyer to the exporter of goods, through money, letter of credit, negotiable instrument.
price actually paid or payable
price ceiling imposed by government or cartel for a particular commodity.
price control
an element of dumpling that means the difference between the price prevailing in the export country and the selling price to an importer in the affected economy
price deference
the system by which the price of goods is fixed.
pricing
is the quantum of evidence required sufficient enough to overcome any doubt or innocence for purposes of filing a case
prima facie
compensation paid by a shipper to the captain for the protection of goods
primage
a test used by the International Chamber of Commerce to determine if a trucking operation is legitimate and incidental to, and in furtherance of, a firm’s primary business
primary-business test
a fact presumed true unless proven otherwise or rebutted in court.
prima facie evidence
a product in an unprocessed, original, or natural state (e.g., an agricultural, mineral, or fishery product)
primary product
a specially-built truck that carries containers lowered by a quay crane
prime mover
applies only to the following: a. liquids and pastes (including latex, whether or not prevulcanized, and other dispersions and solutions); b. blocks of irregular shapes, lamps bales, powders, granules, crumbs, and similar bulk forms.
primary forms
the cost of production for materials, labor, and other direct expenses
prime cost
a person who hires an agent
principal
