Tariffs and Customs Terms R.1.108 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
means ff even or 1,1326 cubic meters (40 cu. F.) whichever yields the greater amount of revenue
revenue tonnage
tariff advantages once offered by less developed countries to imports from the European Community prior to the advent of the Generalized System of Preferences.
reversed preferences
the process of collecting, packing, moving and storing used, damaged, or outdated products form the end-users
reverse logistics
a situation wherein the tariff rate of duty imposed on raw materials is higher than that on finished product.
reverse tariff differential
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.
Reversible laydays
Classification a system of product classification in India that combines the Brussels Tariff Nomenclature and the Standard International Trade Classification
Revised International Tariff Classification
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.
revocable L/C
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.
revolving letter of credit
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.
reward
sheets attached to an import entry or manifest, to describe/detail other articles that are part of a whole shipment.
rider
techniques used to assess shipments and combat smuggling and other violations of Customs laws.
risk management
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
rollback
cargo that can be driven or towed.
rolling cargo
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
roll-on/roll-off container ship
a type of ship that allows cargoes to be driven on and off ramps. It is used extensively for transport of automobiles
roll-on/roll-off vessel
the sequence by which a ship calls at ports listed in her itinerary.
rotation
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)
rounds
the charter freight paid for a round trip, at a specified period.
round voyage time-charter hire
finding the method of transporting a shipment from one place to another; Supply of weather forecasts and provision of most economical sea route.
routing
a ship’s vertical division that indicates the placement of containers
row
a payment made for the right to use, produce, or sell a commodity, which is protected by parents, trademarks, and copyrights.
royalty
international vehicle registration or civil aircraft marking for the Philippines
RP
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
rubber
rules and regulations, administrative issuances, which ascertain the country where imported goods originated. These rules determine the nationality of goods.
rules of origin laws
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
running days
