Tariffs and Customs Terms S.1.111 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
any property seized or held for the satisfaction of any administrative fine or for the enforcement of any forfeiture under the Tariff and Customs Code
seized property
taking possession of goods by public authority
seizure
a computer-based Customs system whereby all goods are categorized under Red, Yellow, or Green Lane, based on certain criteria or parameters (known as filters). High-risk (Red) shipments are mandatory examined, Non-high risk goods are processed under Green Lane, which literally means “Go”. Those covered but doubtful documents pass trough Yellow Lane for review. This system aims to enhance risk-assessment and profiling of shipments to combat smuggling and minimize examination.
selectivity
imports funded from importer’s own foreign currency deposit account or prepaid abroad.
self-funded imports
cost of indirect materials, labor and expenses incurred in marketing, taking of orders, handling of goods, packing delivery
Selling and distribution overhead
a class of imports that an average income group can afford, in addition to the basic necessities such as food, clothing, shelter
semi-essential consumer goods
this class of import is limited to machinery, equipment, supplies, and raw materials required by industries engaged the production of semi-essential consumer goods and services. The classification shall include the import requirement of industries, whose products are both for export and domestic consumption
semi-essential procedure goods
imported materials processed in a bonded manufacturing warehouse, and considered as finished products. These may be used by another such warehouse as raw materials I the manufacture of export goods
semi-finished products
an imported motor vehicle without tires and battery. This also refers to parts and components for assembly purposes and imported in partially-assembled condition; and semi-assembled vehicles. Under the Motor Vehicle Development Plan of the Philippines, an SKD enjoys lower tariff rate, provided the importer is a certified member of the plan.
semi-knocked down
goods produced locally, but do not qualify as such owing to their quantity or price.
semi-unclassified consumer goods
this category shall cover producer goods which are produced locally but not fully qualify as to the quantity, quality or price.
semi-unclassified producer goods
a number that identifies the sender in an electronic data interchange
sender ID
goods that will be phased into the Common Effective Preferential Tariff (scheme) by 2001-2003, with 0-5% tariff imposition by 2010. also, non-tariff barriers to these products will be removed by 2010.
sensitive products
subject to endorsement on the policy.
SEP
a cost that a company can directly assign to a particular segment of the business
separable cost
significant damage inflicted on a domestic industry by imported goods.
serious injury
a computer or computer program that offers a service to another computer or computer program.
server
the temperature which must be maintained in a loaded container. It is specified in the bill of lading or air waybill.
setting delivery temperature
the giving consideration, i.e., payment of money or acceptance of a draft or bill of exchange, in return for documents presented under a documentary credit; payment or obligation; payment of penalty or fine imposed on a seized cargo the owner is trying to reclaim
settlement
the value of a shipment based on its total landed cost, plus penalty. The penalty ranges, 20% to 70% depending on the number of violations the shipment has committed (i.e., 20% for the first violation, 40% for the second, and so on)
settlement value
manufacturing costs for staging a production line to create a different item.
set-up costs
a seal affixed by the societe gnerale de surveillance on a container door after inspection of goods. If found intact at the port of destination, it indicates that the goods have not been switched or pilfered during transport.
SGS seal
the time during which stored goods will not deteriorate or lose commercial value.
shelf life
a portion of a work day
shift
a person entrusted with the provisioning of a vessel, or who represents her in the port where she lies. He takes charge of cargo unloading, issues tally sheets and receives claims for damages against the vessel. He represents ownership of the vessel.
ship-agent
