Tariffs and Customs Terms S.1.116 Flashcards
Terms and meaning from Dictionary of Tariff and Customs Terms with organization and functions of the various Offices of the Bureau of Customs.
a report that details inspection findings of a spot-checking or apprehending team.
spot-check report
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.
spreader
the highest tide of the month, occurring at the time of the full and the new moon
spring tide
the capacity of a ship to return to her original navigational position after having been displaced by external forces.
stability
a marine insurance policy clause that provides coverage to risk of strikes, riots, and civil commotion
strikes, riots and civil commotion
a condition in a charter contract that gives right to the ship-owner to replace the vessel to complete the charter voyage
SS or substitute
containers arranged and piled up orderly in a terminal, container yard, depot, container freight station, or apron of the pier.
stack
the stowing or piling up of containers, boxes, bags, pallets, cartons, on top of each other
stacking
a customs regime implemented in the European Community, which allows for importation of goods to replace or repair articles later to be exported
Standard Exchange System
the total weight of all boxes, bags, pallets, containers, cartons, in a row.
stackweight
a standard numerical code system used by the U.S. government to classify products and services.
Standard Industrial Classification
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.
Standard International Trade Classification
technical specifications of a traded product, such as quality, performance, safety or dimensions.
standards
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.
standby documentary credit
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.
stand-by letter of credit
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.
standstill
starboard the right side of a vessel.
starboard
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.
Start of Commercial Operations
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.
statement of facts
a system practiced in centrally planned or socialist economies, wherein foreign trade is state-controlled and determined by national plans.
state trading
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.
station bills
entitles established by governments (e.g., marketing boards or private firms) to engage in export and import business.
State Trading Enterprises
a guarantee issued by a steamship line (shipping line) against financial loss if a consignment is released without appropriate shipping document
steamship guarantee
a large ship propelled by steam.
steamship
a computerized system that facilitates movement of empty containers to areas of optimal demand.
steering of containers
