Tariffs and Customs Terms P.1.96

Question 1

a clause in an ordinary charter contract that penalizes the charterer in case of non-fulfillment of contract. The penalty, however, does not exceed the amount of freight

Answer 1

Penalty clause

Question 2

a clause in an ordinary, charter contract, which stipulates that expenses for the ship’s fuel oil must be paid by the ship-owner

Answer 2

per diem basis clause

Question 3

a Customs bond filed by an importer, or concerned party, to guarantee performance of certain duties, like submission of documentary requirements for clearance of goods. It has no collateral.

Answer 3

performance bond

Question 3

cosmetics or toilet preparations in heading no, 33.07 applies inter alia, to the following products scented sachets, odoriferous preparations which operates by burning; perfumed papers impregnated, coated with cosmetics, contacts lens or artificial eye solution, wedding felt and nonwovens, impregnated, coated or covered with perfume or cosmetics; animal toilet preparations.

Answer 3

perfumery

Question 3

a clause that specifies the nature and extent of perils being insured by the owner of cargo.

Answer 3

perils clause

Question 4

the importer/claimant shall have a period of one (1) year from the date the totally or partially unutilized L/C is canceled by the AAB.

Answer 4

period of file claim refund

Question 4

articles that easily deteriorate, or likely to deteriorate, during transport or storage.

Answer 4

Perishable goods

Question 5

under the expanded Value-Added Tax (VAT) law of the Philippines, a taxable person includes an importer, who may be an individual, trust, estate, partnership. corporation, joint venture, cooperative, or association liable to pay VAT upon filing of entry.

Answer 5

person

Question 6

a diplomatic representative acceptable to the government of a country where he/she is assigned.

Answer 6

persona grata

Question 7

imposition of varying freight rates on shippers with similar transportation characteristics, or imposition of similar rates on shipper’s with dissimilar transportation characteristics.

Answer 7

personal discrimination

Question 7

embraces all articles that are personal and not considered as merchandise like Books, furniture, carpets, paintings, tableware, wearing apparels (except luxury items), articles of personal adornment, toiletries, portable appliances, instruments, household furnishings, wearing apparels, but excluding vehicles, watercraft and animal. Embraces all articles of personally not merchandise; it includes household effects.

Answer 7

Personal effects

Question 8

the opposite of persona grata.

Answer 8

persona non grata

Question 9

refers to foreign missionaries as, technicians, educators, officials, and other persons under contract or assigned to the Philippines for a specific or indefinite period.

Answer 9

persons coming to settle

Question 10

an application for legal remedy

Answer 10

petition

Question 11

an intermediate chemical derived from petroleum, hydrocarbon liquids, or natural gas, such as ethylene, propylene, benzene, toluene, and xylene

Answer 11

petrochemical

Question 12

a Philippine agency that conducts research and performs coordinating functions on the development and competitiveness of the petrochemical and plastics industries, specifically those falling under tariff heading number 39.01 to 39.26 (including their subheadings)

Answer 12

Petrochemical Competitiveness Board

Question 13

a generic name for hydrocarbons, including crude oil, natural gas liquids, refined and product derivatives.

Answer 13

Petroleum

Question 14

include not only petroleum oils and oils obtained from bituminous minerals but also similar oils, as well as those consisting mainly or mixed unsaturated hydrocarbons, obtained by any process, provided that the weight of the non-aromatic constituents exceed that of the aromatic constituents. However, the reference do not include liquid synthetic polyolefin’s of which less than 60% by volume distill at 300c, after conversion to 1,013 mill bars when is reduced pressure distillation method is used.

Answer 14

Petroleum oils and oils obtained from bituminous minerals

Question 15

a symbol that indicates a discounted airline fare

Answer 15

PEX

Question 16

a conference for Asian countries

Answer 16

Philippine Asia Conference

Question 17

a publication of the Philippine Tariff Commission that serves as a practical guide to the application of CEPT rate of duty, and indicates which ASEAN economy in entitled to Philippine CEPT rate of duty.

Answer 17

Philippine CEPT Concessions Exchange Manual in the 1996 Harmonized System

Question 18

a government agency that issues export and commodity clearance for the export of coconut and its by-products.

Answer 18

Philippine Coconut Authority

Question 19

it is the one of the branches or area of foreign affairs will be located outside the country having a responsible for negotiation between the Philippine and the concern country in the form of economics development, trade relation and affairs.

Answer 19

Philippine Embassy

Question 20

a conference for Europe and the Mediterranean Sea region

Answer 20

Philippine Europe Conference

Question 21

a government agency that issues insurance policies and certificates of guarantee against credit risks arising out of, or in connection with, export transactions.

Answer 21

Philippine Export Credit Insurance and Guarantee Corporation