Tariffs and Customs Terms W.1.134

Question 1

the price at which the same, like, or similar article is freely offered for sale at the time and place of appraisal, in the same usual wholesale quantity or quantities of goods sold in the ordinary course and trade.

Answer 1

wholesale domestic selling price

Question 1

an international listing of firms and organizations. Manning agencies, maritime schools, and training centers that completely adhere to the Standard and Training Certification and Watchkeeping convention.

Answer 1

white list

Question 2

an economic activity involving the exchange of goods in bulk.

Answer 2

wholesale trade

Question 2

includes imported price, inland transportation cost, advertising, promotion, distribution, interest, wholesaler’s profit, plus stock expenses.

Answer 2

wholesaler’s price

Question 3

a firm or person engaged in wholesale trading.

Answer 3

wholesaler

Question 4

a person who operates a device on the deck of a ship to raise. or lower cargoes.

Answer 4

Winchman

Question 4

sale of goods in bulk by the producer or trader to retailers.

Answer 4

wholesaling

Question 5

obtained terminology in the Harmonized Rules of Origin that means any of the following: 1. the raw material was obtained in its natural and unprocessed state (original state), 2. waste and scrap in the country of origin, 3. grown and harvested.

Answer 5

wholly

Question 6

a wooden container fastened by wires.

Answer 6

wirebound box

Question 7

a marine insurance term that means a shipment is protected from partial damage whenever it exceeds a certain minimal percentage. If the ship is involved in a major catastrophe, such as collision, fire or stranding, the minimum percentage requirements are waived and the insurance company pays for all damage.

Answer 7

with average

Question 8

a Customs document issued by a warehouseman to the operator of a bonded warehouse when raw materials are withdrawn for manufacture.

Answer 8

Withdrawal permit

Question 9

a condition specified in a negotiable instrument or a bill of exchange, which does not vest right to charge a payee (the person to whom payment is made) if the document is unpaid.

Answer 9

without recourse

Question 10

a term indicating that a shipper’s agent is empowered to make definite decisions abroad without approval of his principal

Answer 10

without reserve

Question 11

the original copy of import or shipping documents being processed with Customs, viz., bill of lading, invoice, entry, packing list, inspection report, relevant certificates.

Answer 11

working copy

Question 11

parts and sub-assemblies in the process of becoming completely assembled components. These items are not considered part of the raw materials inventory and are not included in the finished goods inventory.

Answer 11

work in progress

Question 12

a 24-hour day, when part of work is ordinarily done at the port.

Answer 12

working day of 24 consecutive hours

Question 13

a 24-hour period of normally counted as one day, even though the 24 hours are spread over two or more calendar days.

Answer 13

working days of 24 hours

Question 14

formerly the Customs Cooperation Council (1952), it is an independent, inter-government, global body that aims to enhance the effectiveness and efficiency of Customs administration. It presently administers the international Convention on the Harmonized Commodity Description and Coding System (Harmonized System). It also administers the Valuation Code assigned by the World Trade Organization, and implements the use of transaction value for Customs valuation.

Answer 14

World Customs Organization

Question 15

a general reference books of European-made motor vehicles

Answer 15

World Book

Question 16

Organization established in 1967 and became a specialized agency of the United Nations in 1974, it promotes the protection of intellectual property around the world.

Answer 16

World Intellectual Property Organization

Question 17

the integrated global economic and political system.

Answer 17

world system

Question 18

a successor of the General Agreement on Tariffs and Trade (GATT). It was organized as a single, formal, and permanent, international trade body of 134 countries to oversee the implementation of 30 agreements and 22 ministerial decisions arising from the Uruguay Round and the Agreement to establish the WTO at Morocco. It took effect on January 1, 1995, and encompasses trade in services and intellectual property rights. It is expected to facilitate implementation of trade agreements reached in the Uruguay Round by bringing them under one institutional umbrella, requiring full participation of all countries in a single new trading system, and providing a permanent forum to discuss new issues facing the international trading system. The WTO is available only to countries which: a) are contracting parties to the GATT, b) agree to adhere to all of the Uruguay Round agreements, and c) submit schedules of market access commitments for industrial and agricultural goods and services.

Answer 18

World Trade Organization

Question 19

the agreement forged by WTO members to set forth the rules in determining the Customs value of imported goods.

Answer 19

World Trade Organizations Valuation Agreement

Question 19

a service of the U.S. Department of Commerce providing confidential report on a foreign firm, like type of organization, year of establishment, size, number of employees, reputation, territory covered, language used, product lines, owners, financial and trade references

Answer 19

World Traders Data Reports

Question 20

any sheet, paper, plastic material, that covers a commodity or article.

Answer 20

wrapping