Tariffs and Customs Terms S.1.116

Question 1

a report that details inspection findings of a spot-checking or apprehending team.

Answer 1

spot-check report

Question 2

a machine that enables a crane to lift and transfer containers in different locations. It moves the containers with great precision and can determine the weight of each; a beam or frame that holds the ship’s slings vertically when lifting cargo.

Answer 2

spreader

Question 3

the highest tide of the month, occurring at the time of the full and the new moon

Answer 3

spring tide

Question 4

the capacity of a ship to return to her original navigational position after having been displaced by external forces.

Answer 4

stability

Question 4

a marine insurance policy clause that provides coverage to risk of strikes, riots, and civil commotion

Answer 4

strikes, riots and civil commotion

Question 5

a condition in a charter contract that gives right to the ship-owner to replace the vessel to complete the charter voyage

Answer 5

SS or substitute

Question 6

containers arranged and piled up orderly in a terminal, container yard, depot, container freight station, or apron of the pier.

Answer 6

stack

Question 7

the stowing or piling up of containers, boxes, bags, pallets, cartons, on top of each other

Answer 7

stacking

Question 8

a customs regime implemented in the European Community, which allows for importation of goods to replace or repair articles later to be exported

Answer 8

Standard Exchange System

Question 8

the total weight of all boxes, bags, pallets, containers, cartons, in a row.

Answer 8

stackweight

Question 9

a standard numerical code system used by the U.S. government to classify products and services.

Answer 9

Standard Industrial Classification

Question 10

developed by the United Nations in 1950, it is a system of classifying globally-traded commodities. Like that of the Customs Cooperation Council Nomenclature and the Harmonized System, SIYC provides statistics for economic analysis and comparison of the trade data. It is published in the Commodity Index for the United Nations.

Answer 10

Standard International Trade Classification

Question 11

technical specifications of a traded product, such as quality, performance, safety or dimensions.

Answer 11

standards

Question 12

issued to cover a “non performance” (default) by one party to the credit, stipulating that a sum of money will be paid to the beneficiary upon demand in the event the beneficiary submits assigned statement setting forth that there has been a default or non performance.

Answer 12

standby documentary credit

Question 13

a letter of credit issued for the full amount of the contract between buyer and seller, but negotiable after all deliveries have been made, usually for one year and a day, or one week. It is made to effect payment in case of default. The issuing bank is not expected to pay as long as the transaction is being fulfilled.

Answer 13

stand-by letter of credit

Question 14

a commitment of contracting parties, under the General Agreement on Tariffs and Trade, not to imposed new trade restrictions during the past Uruguay Round negotiations.

Answer 14

standstill

Question 15

starboard the right side of a vessel.

Answer 15

starboard

Question 16

for purposes of the income tax holiday shall be the date specified in the Registration Agreement or the date when the particular ECOZONE export enterprise actually begins production of the registered product for commercial purposes, whichever comes first, irrespective of phases or modules or schedule of development.

Answer 16

Start of Commercial Operations

Question 17

prepared by the agent of a shipping line, it is daily report of ship’s condition upon arrival and departure. it also indicates her burden, tonnage, details on discharge of cargoes.

Answer 17

statement of facts

Question 18

a system practiced in centrally planned or socialist economies, wherein foreign trade is state-controlled and determined by national plans.

Answer 18

state trading

Question 18

a notice posted conspicuously on the ship’s decks, showing the location of her lifeboats and the officers and crew that would man them during emergencies.

Answer 18

station bills

Question 18

entitles established by governments (e.g., marketing boards or private firms) to engage in export and import business.

Answer 18

State Trading Enterprises

Question 19

a guarantee issued by a steamship line (shipping line) against financial loss if a consignment is released without appropriate shipping document

Answer 19

steamship guarantee

Question 19

a large ship propelled by steam.

Answer 19

steamship

Question 20

a computerized system that facilitates movement of empty containers to areas of optimal demand.

Answer 20

steering of containers