Tariffs and Customs Terms S.1.118 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 situation wherein the goods have been loaded in a sealed container
stuffed and sealed
a clause in a charter contract which implies that the ship-owner has the right to decline an offer of a charterer if the ship is being readied for another business prior to receipt of such offer.
subject open
filing a container with goods
stuffing
a condition in a charter contract wherein the ship-owner is not free to commit the ship to a charterer without approval from a competent authority.
subject to license being granted
a condition for loading of full cargoes of coal, which implies that the coal supplier or charterer must still arrange delivery during the laydays agreed upon.
subject to stem
a person or firm accredited bu customs to manufacture finished products in behalf of a bonded warehouse, which lacks facilities or time to meet export commitments.
sub-contractor
the right of a charterer to sub-lease whole or part of the chartered ship. In a voyage charter, for example, the charter may accept other cargoes.
subletting
a minor port under the jurisdiction of a customs collector of the principal port of or entry
sub-port
substitution of one person by another, who assumes the rights and liabilities of the former. For example, in case of total loss of the vessel or cargo, the insurer can take over the interest of the insured with respect to said property.
subrogation
government assistance to exporters in the form of tax credit, grants, loans, loan guarantees, equity infusion, in provision of goods and services, purchase of import goods, income support, or price support.
subsidy
a country that supplies about 10% of a particular import product to another country.
substantial supplier
a buyer’s ability to substitute different products if the seller.
substitutability
expenses covered by cargo insurance incurred to prevent or minimize loss or damages.
sue and labor charges
the ship’s maximum draft.
summer loadline
a phrase that means Sundays and holidays are included in the computation of days, for purposes of determining dispatch or demurrage.
Sundays and Holidays included
the shipper’s agent in charge of cargo aboard a ship, he acts as the agent of the shippers in the sale of commodities at the port of destination, and buys goods for her return voyage.
super cargo
a proposed law whereby the countervailing duty imposed on imported goods expires as a matter of course five years after its imposition, unless upon review there is threat of injury to the domestic market. The review is initiated before the sunset date and concluded within a year.
sunset clause
a variant of deductive value, it is an alternative customs value arrived at by working back from the price of finished goods derived from imported goods. It deducts the costs of further processing in the country of importation, plus the usual expenses in sales.
superdeductive value
a carrier without a scheduled route, and provides service under a charter or contract per plane per trip.
supplemental carrier
the exporter, consignor, vendor, shipper, or his agent.
supplier
an assurance that a country will have a fair and equitable access to supply of imported raw materials and essential merchandise.
supply access
a sequence of events, like conversion, assembly, disassemble, or movement, which adds to the value of goods.
supply chain
a charge imposed in addition to the applicable charges; a charge imposed by a liner conference, in addition to the basic freight rates, to cover sudden cost increases; an additional charge imposed by customs on imported cargoes, which are found more than the declared quantity, provided the difference is less than 30%
surcharge
a kind of bond or guarantee put up by a person or firm to ensure performance of a contract by another party.
surety
a contract wherein a surety firm guarantees the performance by another party of an obligation I favor of a third party.
suretyship contract
