Tariffs and Customs Terms V.1.131

Question 1

vendee a buyer, consignee, importer, shippee, of his agent.

Answer 1

vendee

Question 2

refers to the container with opening in the side and/end walls to allow the ingress of outside air when the doors are shut.

Answer 2

ventilated container

Question 3

a joint venture company organized by commercial banks and the government to provide capital assistance or equity financing to export firms.

Answer 3

Venture Capital Corporation

Question 4

cargo damage caused by rats and pests.

Answer 4

vermin damage

Question 5

trading company an export trading company that integrates a range of functions in the movement goods from suppliers to consumer.

Answer 5

vertical export

Question 6

includes every kind of boats, watercraft, or other artificial contrivance used, or capable of being used, as a means of transportation on navigable water, river, sea, or. ocean, and carries cargoes and/or passengers.

Answer 6

vessel

Question 7

any fishing vessel with nets, lines, trawls, or other fishing. apparatus which restricts maneuverability.

Answer 7

vessel engaged in fishing

Question 8

refers to the vessel/aircraft used for main transport.

Answer 8

vessel/aircraft

Question 9

a power-driven vessel that cannot deviate from her course to heavy load or shallow waters.

Answer 9

vessel constrained by her draught

Question 10

refers to vessels or watercrafts intending to undergo dry-docking repair as required by the classification Society or other government agencies.

Answer 10

vessel for dry-docking

Question 11

refers to vessels or watercrafts, which are no longer seaworthy to undertake, voyage and are eligible only for breaking up.

Answer 11

vessel for scrapping

Question 12

vessel, which has suffered, engine trouble marine accident, or has met a typhoon or other natural calamities or disasters during it voyage that forced her to call at the port repair, medica! help or shelter.

Answer 12

vessel in distress

Question 13

a vessel which, due to exceptional circumstances, is unable to maneuver as required by the Collision Regulations and unable to keep out of the way of another vessel.

Answer 13

vessel not under command

Question 14

a vessel which, from the nature of her work, is restricted to maneuver as required by the Collision Regulations, and is unable to keep out of the way of another vessel. It includes a vessel engaged in laying, servicing, or picking up a navigational mark. submarine cable or pipeline; in dredging, surveying, or underwater operations; in replenishment or transferring persons, provisions, ‘or cargo aircraft, in mine clearing operations; in towing operations.

Answer 14

vessel restricted in her ability to maneuver

Question 15

agreement between or among carries to pool their equipment on a given sea route.

Answer 15

vessel-sharing agreement

Question 16

refers to the first amendment in 1968 of the Hague Rules (Unification of Certain Rules Relating to Bills of Lading adopted August 25, 1924, at Brussels, Belgium). Also known as the Hague-Visby Rules,

Answer 16

Visby Protocol

Question 17

a Consul’s signature of approval on an entry document.

Answer 17

visa

Question 18

goods being traded.

Answer 18

visible items

Question 19

refers to the volume of the cargo in cubic meters, commonly known as CBW.

Answer 19

volume

Question 20

refers to the volume of the cargo in cubic meters, commonly known as CBM

Answer 20

volume (MTO)

Question 21

a transport charge for carriage of goods based on volume.

Answer 21

volume charge

Question 22

means a large quantity

Answer 22

voluminous

Question 23

an exporters oath to increase the price of goods, or to cease from exporting such goods, to prevent dumping:

Answer 23

voluntary price undertaking

Question 24

bilateral arrangements whereby an exporting country agrees to reduce or restrict export, without the importing country having to resort to imposition of quotas, tariffs, or other import controls. Also known as Voluntary Export Restrictions, these are undertaken to avoid global trade frictions.

Answer 24

Voluntary Restraints Agreements

Question 25

the route taken by a vessel.

Answer 25

voyage