Tariffs and Customs Terms R.1.108

Question 1

means ff even or 1,1326 cubic meters (40 cu. F.) whichever yields the greater amount of revenue

Answer 1

revenue tonnage

Question 2

tariff advantages once offered by less developed countries to imports from the European Community prior to the advent of the Generalized System of Preferences.

Answer 2

reversed preferences

Question 3

the process of collecting, packing, moving and storing used, damaged, or outdated products form the end-users

Answer 3

reverse logistics

Question 4

a situation wherein the tariff rate of duty imposed on raw materials is higher than that on finished product.

Answer 4

reverse tariff differential

Question 5

a phrase in a charter contract which implies that a ship will load and discharge cargo at a given average per day. This is common in tank charters and those carrying bulk cargoes.

Answer 5

Reversible laydays

Question 6

Classification a system of product classification in India that combines the Brussels Tariff Nomenclature and the Standard International Trade Classification

Answer 6

Revised International Tariff Classification

Question 7

can be amended or canceled by the issuing bank up to such time as the documents are presented to the advising bank without prior notice to the beneficiary.

Answer 7

revocable L/C

Question 8

an irrevocable letter of credit (L/C) often used when the importer anticipates a regular flow of merchandise from the exporter. The amount in the L/C is automatically renewed after each drawing or specified period.

Answer 8

revolving letter of credit

Question 9

a percentage of the value of a forfeited smuggled shipment given to the apprehending officers and the informant; compensation given for salvaging an abandoned or shipwrecked vessel.

Answer 9

reward

Question 10

sheets attached to an import entry or manifest, to describe/detail other articles that are part of a whole shipment.

Answer 10

rider

Question 11

techniques used to assess shipments and combat smuggling and other violations of Customs laws.

Answer 11

risk management

Question 12

a principle declared in the Uruguay Round for the dismantling of the trade restrictions of distortions, consistent with the provisions of the General Agreement on Tariff and Trade. It also refers to imposition of less quantitative restrictions on imports

Answer 12

rollback

Question 12

cargo that can be driven or towed.

Answer 12

rolling cargo

Question 13

container ship specially designed and constructed carry container and chassis elbows loading unloading containers on chassis or traders by providing a ramp over the side at the term of the ship

Answer 13

roll-on/roll-off container ship

Question 14

a type of ship that allows cargoes to be driven on and off ramps. It is used extensively for transport of automobiles

Answer 14

roll-on/roll-off vessel

Question 15

the sequence by which a ship calls at ports listed in her itinerary.

Answer 15

rotation

Question 16

multilateral trade negotiations under the General Agreement on Tariff and Trade (GATT), which culminated in a simultaneous agreement to reduce tariff and non-tariff trade barriers: 1st round, 1947, Geneva, Switzerland (creation of the GATT); 2ND round, 1949, France (tariff reduction); 3rd round, 1951, Torquay, England (accession to GATT and tariff reduction) 4th round, 1956, Geneva (accession to GATT and tariff reduction); 5th round, 1960-62, Geneva (“Dillon” round, revision of GATT rules and accession of other countries); 6th round , 1964-67, Geneva (“Kennedy” round); 7th round, 1973-79, Geneva (“Tokyo” round, 186-93, Geneva (“Uruguay” round)

Answer 16

rounds

Question 17

the charter freight paid for a round trip, at a specified period.

Answer 17

round voyage time-charter hire

Question 18

finding the method of transporting a shipment from one place to another; Supply of weather forecasts and provision of most economical sea route.

Answer 18

routing

Question 19

a ship’s vertical division that indicates the placement of containers

Answer 19

row

Question 20

a payment made for the right to use, produce, or sell a commodity, which is protected by parents, trademarks, and copyrights.

Answer 20

royalty

Question 21

international vehicle registration or civil aircraft marking for the Philippines

Answer 21

RP

Question 22

means the following products, whether or not vulcanized or hard: natural rubber, balata, gutta-pecha, guayela chicle and similar natural gums, synthetic rubber, tactics derived from oils, and such substances reclaimed

Answer 22

rubber

Question 23

rules and regulations, administrative issuances, which ascertain the country where imported goods originated. These rules determine the nationality of goods.

Answer 23

rules of origin laws

Question 24

a phrase in a charter contract that refers to consecutive calendar days, counting from midnight or midnight, and includes Sunday and Holidays, whether work is actually done or normally done at the port

Answer 24

running days