Tariffs and Customs Terms VW.1.132

Question 1

a marine insurance

Answer 1

voyage and time policy

Question 2

a charter contract wherein the charterer places the ship on berth as a general ship, and the exact nature of the cargo is unknown, although the charterer will be liable to the ship-owner for deadfreight if he fails to load, a full cargo.

Answer 2

voyage berth charter

Question 3

a charter contract wherein the ship-owner himself appoints the ship’s master and crew, and acts as a private carrier. Part of the ship’s space may be rented out to a charterer.

Answer 3

voyager charter

Question 4

a reference number assigned by a carrier or his agent to a particular voyage of the vessel.

Answer 4

voyage number

Question 5

a marine insurance policy that covers a vessel’s voyage between certain ports or terminal.

Answer 5

voyage policy

Question 6

an insurance clause which provides that any action by the insurance firm to recover, save, or preserve the insured vessel, does not mean admission of liability for loss of the vessel, or that the insurer accepts abandonment of the vessel.

Answer 6

waiver clause

Question 7

an insurance policy issued without insurable interest, or with a condition that the insurance firm will dispense with any proof of interest. It is void due to public policy

Answer 7

wagering policy

Question 8

an insurance clause which stipulates that the policy terminates automatically (even without notice) upon detonation of a nuclear weapon if the vessel is being requisitioned, or upon outbreak of war between any of these countries: United Kingdom, the U.S.A., France, Russia, and China.

Answer 8

war cancellation clause

Question 8

a peril of the sea arising from war (whether accidental or not), pirate attack, arrest by government authority, strikes, riots, labor unrest, civil disturbances:

Answer 8

war and strike

Question 9

refers to buildings, establishments, sheds, yards, stores, other areas for storing, processing, repacking, and manufacturing imported raw materials, and the byproducts or wastage incident to such activities. For payment of value-added tax, it means the place or premises where the inventory of goods are withdrawn for delivery to customers, dealers, or persons acting in behalf of the business.

Answer 9

warehouse

Question 10

operator a person or firm licensed to operate a Customs bonded warehouse.

Answer 10

warehouse operator

Question 10

wholesale business that engaged in retail to consumers, who must first apply for memberships in such clubs.

Answer 10

warehouse clubs

Question 10

accountable form being filed to the collector of customs in order to facilitated the transfer of goods from the BOC to bonded warehouses.

Answer 10

warehouse form BOC

Question 11

a document issued by a warehouseman to one who deposits goods in a warehouse. It serves as evidence of ownership over said goods.

Answer 11

warehouse receipt

Question 12

a law that governs the juridical relation between a warehouseman and a depositor of goods.

Answer 12

Warehouse Receipts Law

Question 12

long-term promissory note (with interest) issued by a bonding company in behalf of a warehouse operator.

Answer 12

warehousing bond

Question 13

an export/import insurance policy clause that provides protection to the goods transported from the shipper’s warehouse to the consignee’s warehouse. The coverage terminates on delivery to the consignee or named warehouse, or after a lapse of 60 days after discharge of goods from the vessel, whichever comes first.

Answer 13

warehouse to warehouse clause

Question 13

an entry used for imported articles to be stored in a bonded warehouse; i.e., the articles are not for consumption. Such articles are imported tax- and duty-free and mat remain in the warehouse for a maximum period of one year (normally nine months). Duties and taxes are paid upon withdrawal of the articles.

Answer 13

warehousing entry

Question 14

a document that authorizes a person to act in behalf of another. A Warrant of Seizure and Detention, for instance, authorizes a designated officer to seize contraband in behalf of a collector or Customs Commissioner

Answer 14

warrant

Question 14

service rendered by a warehouseman, like receiving and storing goods for profit, compensation, hire, or commercial use.

Answer 14

warehousing service

Question 15

a warranty which ensures that a vessel, in times of war, has papers that establish her neutrality.

Answer 15

warranted neutral

Question 16

a surcharge imposed by some conferences on cargoes destined for ports within or near war zones

Answer 16

war risk surcharge

Question 17

policy a marine insurance policy against cargo damage or loss due to war risks; like civil war, revolution, rebellion, insurrection; capture, seizure, arrests, restraints of kings, princesses and people; hostilities, civil strike, mines, torpedoes, bombs, other engines of war. War risks are not covered under a policy for marine perils, but under a separate policy.

Answer 17

war risk

Question 18

refers to the Convention for the Unification of Certain Rules relating to International Carriage by Air, signed at Warsaw, Poland, on October 12, 1929, which sets forth the obligations and limitations of air carriers and other parties.

Answer 18

Warsaw Convention

Question 19

rate the speed at which waste occurs in production.

Answer 19

wastage