Related Entries of the International Encyclopedia:

1. Column 2 Rate The rate of duty applied by U.S. Customs to imports from nations not enjoying Most Favored Nation (read this and related legal terms for further details) status. The Column 2 rate is the statutory rate of duty provided i......
2. Privileged Foreign Status A condition that may be accorded to foreign merchandise entering a foreign trade ZONE (read this and related legal terms for further details). Foreign merchandise entering a zone remains exempt from duty until withdrawn,......
3. Transaction Value Of Identical Merchandise An alternative method of valuing goods for customs purposes under the CustomsValuation Agreement (read this and related legal terms for further details).......
4. Bonded Warehouse Summary of Bonded Warehouse A warehouse storage area, or manufacturing facility in which imported merchandise may be stored or processed without payment of customs duties. Such premises are operated by a warehouse proprietor who holds a license from the U. S. Customs Service. Bonded [...]...
5. Goods In Free Circulation Merchandise not subject to customs restrictions. These goods would include locally produced (i.e., not imported) merchandise and goods that have been cleared by customs and upon which all duties and taxes have been paid.......
6. Customs Rate The rate of exchange employed by U.S. Customs in converting foreign currency invoices for the purpose of arriving at a value, in U.S. dollars, for imported merchandise. Ad valorem duties are applied on the dollar value. In accordance with the Customs Simplification Act of 1956, the secretary of the......
7. Privileged Domestic Status A condition that may be accorded to merchandise of U.S. origin, or to imported merchandise upon which duties have been paid, that is entered into a foreign Trade Zone (read this and related legal terms for further details...
8. Marking Duties A special duty, in addition to ordinary duties, imposed upon merchandise not properly marked so as to indicate to the ultimate purchaser the country of origin. Section 304 of the Tariff Act of 1930, as amended, requires that the country-of-origin marking be legible, indelible, and permanent. [...]...
9. Valuation Tariff A customs tariff in which ad valorem duties are applied not on the sale or commercial value of the merchandise, but on a nominal value for the product prescribed by governmental authority. For example, sheet steel might carry a duty of 5 percent ad valorem, but the tariff prescribes that the value f......
10. In-bond The condition of goods that have been temporarily exempted from customs clearance and duties, in lieu of which the importer or custodian of the goods has posted a surety with customs authorities to ensure that the goods will not be released or consumed until formal examination and clearance [...]...
11. Zone Restricted Status A condition accorded to goods entered into a Foreign Trade Zone (read this and related legal terms for further details) solely for destruction or exportation to another country. These goods may not be manipulated or proc......
12. Clearance The completion of customs formalities including, but not limited to, the physical examination of imported merchandise, and the submission of documents necessary to permit the release of merchandise from customs control to the importer.......
13. Nonprivileged Foreign Status The condition of imported merchandise entered into a Foreign Trade Zone (read this and related legal terms for further details), other than goods that have been granted privileged foreign status (...
14. Special Customs Invoice A special form of customs invoice formerly used for importations into the United States. Prior to March 1, 1982, the special customs invoice (SCI) was required on any importation when the purchase price of the merchandise exceeded five hundred dollars and the rate of duty was in any way dependent up......
15. Quota-Class Merchandise Goods subject to Quota (read this and related legal terms for further details) restrictions.......
16. Conditionally Free Merchandise that is permitted duty-free entry, providing certain conditions can be met, usually the submission of evidence that the goods are the product of a given country or will be used for an approved purpose. If the prescribed conditions are not met, the goods will be assessed the prevailing du......
17. Customs Transit The condition of merchandise that is transiting the customs territory of a nation without having been released from customs jurisdiction. Goods in customs transit are processed under an in transit entry at the time they enter the United States; the in transit, or I.T., entry is effected by filing wi......
18. Sliding Scale Tariff A customs tariff in which rates of DUTY (read this and related legal terms for further details) vary according to the price of a given import. Usually, as the price of the item declines, the duty is reduced. Duties may b......
19. Admission Temporaire The temporary duty free admission of otherwise dutiable merchandise, usually for the purpose of processing into goods for export. The most common vehicles for avoiding duties on such temporary imports are: (1) importation under bond the importer posts a bond with customs to cover duties in the event......
20. Customs Territory The geographical area of a country, its possessions, and surrounding waters within which the customs authority is empowered to impose duties and controls upon foreign merchandise entering therein. The customs territory need not necessarily incorporate all the territory over which a nation [...]...
21. General Order A condition imposed upon merchandise that is imported into the customs territory of the United States but that is not promptly cleared through customs. General order merchandise is deposited in an approved warehouse pending disposition. Section 127 of the Customs Regulations governs the [...]...
22. Nonprivileged Domestic Status The condition of merchandise of U.S. origin entered into a foreign trade zone (read this and related legal terms for further details), other than goods that have been granted privileged domestic STATUS (...
23. Proportional Rate A freight rate that is constructed by adding separate joint or local rates applying to a through movement. A proportional rate, unlike a Combination rate (read this and related legal terms for further details), is applic......
24. Customs Enforcement Area An area not to extend more than fifty miles seaward, beyond the CUSTOMS WATERS (read this and related legal terms for further details). Within this zone customs officers are authorized to enforce U.S. laws if the preside......
25. Entrepot A warehouse or storage facility where foreign merchandise may be deposited and withdrawn for re-export without incurring customs duties.......
26. Public Stores Generally, a warehouse or other facility operated by the Federal government for the storage of contraband, seized merchandise, or goods not released from Federal custody. Under the customs regulations, these storage facilities are operated by government personnel for merchandise not released from cu......
27. Assist Inputs to production, including tools, dies, blueprints, designs, or development engineering provided by an American importer to a foreign manufacturer for use in producing merchandise for export to the United States. Such inputs must be declared to U.S. Customs on the first importation of the [...]...
28. Commonwealth Preference Special preferential rates of duty applied by member states of the British Commonwealth on merchandise imported from other Commonwealth countries. In many cases, duties among Commonwealth members were totally abolished. The accession of Britain into the European Com-munities, coupled with the adopt......
29. Tariff (Customs) A document issued by a nation's customs authority principally for the purpose of specifying rates of duty to be applied on various imported products. A tariff customarily also includes quantitative restrictions (quotas) upon certain imports, preferential duties on products imported from specifie......
30. Fair Market Value The value an imported product would fetch, under similar circumstances of sale, were the goods sold in the country of origin. Customs authorities are usually interested in the fair market value of imported merchandise inasmuch as sales below such value may serve as the basis of a Dumping (...
31. Superdeductive A procedure authorized by U.S. Customs in ascertaining the deductive value of merchandise for assessment of ad valorem duties; deductive valuation is an alternative valuation method specified in the customs valuation agreement (...
32. Transaction Value Of Similar Goods Sold An alternative method of valuing goods for customs purposes under the Customs Valuation Agreement (read this and related legal terms for further details).......
33. Deductive Value Method An alternative method of valuing goods for customs purposes under the Customs Valuation code (read this and related legal terms for further details).......
34. General Order Merchandise Goods that have arrived at a U.S. port of entry but have not been claimed or entered within the prescribed period after arrival. In most cases an importer must claim and enter merchandise within five working days following arrival of the goods. District directors of customs may authorize a longer pe......
35. Summary Sale A simplified procedure for disposing of merchandise seized or forfeited for violation of the customs laws. Currently, the U.S. Customs Service may sell, without judicial proceedings, seized merchandise valued up to ten thousand dollars.......
36. Ordinary Course Of Trade A concept routinely applied in customs valuation that holds that the dutiable value of goods is the price at which they would normally sell if customary channels of distribution were observed. For example, where it was industry practice for a product to be sold directly by a manufacturer to an end u......
37. Trade Agreements Act Of 1979 An act of Congress implementing certain agreements negotiated under the Tokyo Round (read this and related legal terms for further details). The act replaced the Countervailing Duty Law and Antidumping Act of 1921 and ab......
38. Notional Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the price the goods "ought to fetch" under specified conditions; this view was widely held for many years and was embraced in the Brussels Definition Of Value (...
39. Transaction Value The primary method of valuing goods for customs purposes under the Customs Valuation Agreement (read this and related legal terms for further details).......
40. Articles Of Mixed Status Merchandise manufactured within a foreign trade zone (read this and related legal terms for further details) of components of more than one status. The status of merchandise is the product of several factors. An item in ......
41. Drawback A feature of U.S. customs law that permits an American exporter to recover duties paid on foreign components or raw materials later fabricated into American products and exported. Upon exportation of the manufactured article a recovery or drawback, equal to 99 percent of the duties paid on the [...]...
42. Quota Priority The precedence accorded one entry of quota-class merchandise (read this and related legal terms for further details) over other quota-class merchandise.......
43. Positive Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the actual value of the transaction, as defined by buyer and seller. This view has been substantially fulfilled by the recent adoption of the transaction value basis of valuation in the Customs Valuatio......
44. Quota Proration An adjustment to a consumption entry for quota-class merchandise (read this and related legal terms for further details) when the entry calls for more merchandise than will be allowed under the quota.......
45. Customhouse Broker A firm licensed by the U.S. Customs Service to act as the importer's agent in facilitating the clearance of goods through customs. In this capacity, the customhouse broker files all necessary documents with customs to ensure that the merchandise is expeditiously inspected by customs and that pr......
46. Customs Entry Read Entry (Customs) as cross-reference.......
47. Actual Value Rate A freight rate applicable to certain commodities where, depending upon the actual goods, value may vary greatly. For example, the classification "scientific instruments" may embrace low-value laboratory glassware or high-value precision instruments. In such cases, the shipper must declare ......
48. Flexible Tariff Special Drawing Ria customs tariff in which rates of duty can be raised or lowered by administrative action. In the United States the Reciprocal Trade Agreements Act of 1934 and other legislation have authorized the President to adjust duty rates downward in response to concessions from other nation......
49. Normal Price Within the scope of the Brussels Definition Of Value (read this and related legal terms for further details), the value basis upon which ad valorem duties will be assessed on imports. The normal price is the price the go......
50. Noncontract Rate The freight rate applicable to commodities shipped by a firm that has not executed an exclusive patronage contract (read this and related legal terms for further details).......
51. Dutiable Status A determination made by customs authorities, in accordance with the laws of the importing nation, as to whether a given imported article is subject to duty, and if so, at what rate. The dutiable status is determined by classifying the merchandise, i.e., determining into which category the [...]...
52. Floor In the case of a variable rate loan (read this and related legal terms for further details), a prearranged minimum rate of interest that will be imposed, irrespective of how low the money market index falls.......
53. Freely Offered Goods offered in the normal course of trade to all buying on essentially the same basis, e.g., with like prices, terms, discounts, et cetera. Under prior valuation schemes, the value at which the goods were "freely offered" served as the basis for the assessment of customs duties; this con......
54. Real Interest Rate Synonymous with effective interest Rate (read this and related legal terms for further details).......
55. Intermediate Goods Synonymous with Intermediate Products (read this and related legal terms for further details).......
56. American Goods Returned A provision, contained in Item 800.00, of the Tariff Schedules of the United States that permits duty-free return of merchandise of American manufacture. In order to qualify for duty-free return, the goods must not have been manipulated or advanced in value, except for the packaging of the product.......
57. Clearing Summary of Clearing An arrangement by which two firms in different countries agree to purchase goods from each other over a specific period of time, thereby balancing out obligations to each other. Clearing is not synonymous with barter, which implies a simultaneous or near simultaneous [...]...
58. Entry (Customs) The administrative processing associated with foreign merchandise that has landed in the United States for consumption, warehousing, or other reasons. The act of entry involves the submission to U.S. Customs of documents that identify the owner of the goods, the type and character of the merchandise......
59. Tariff Rate A rate for insurance coverage specifically prescribed by local regulation. Usually the rate is higher than might be derived through negotiations with a nonadmitted (read this and related legal terms for further details) ......
60. Fraudulent Entry The deliberate undervaluing or misclassifying of merchandise for the purpose of evading duties or customs control.......
61. Reliquidation An amendment of a customs entry Liquidation (read this and related legal terms for further details)......
62. Informal Entry A former abbreviated entry procedure permitted by U.S. Customs for shipments of merchandise under $250 and certain household effects. Unless the district director of customs provides otherwise on a given shipment, entry may be made on Customs Form 5119-A; at time of entry, estimated duties and taxes......
63. United States Customs Service An agency within the U.S. Department of the Treasury charged with the enforcement of the tariff acts and other laws relating to the importation of goods.The Customs Service was established by Congress in 1789. Among its duties are assessment and collection of duties, excises, and penalti......
64. Date For Value Determination The date on which imported merchandise was exported from its country of origin. The value of the merchandise in effect on that date will be applied in applying duties.......
65. Mtn Valuation Code An agreement on valuation for customs purposes, more commonly known as the customs valuation agreement (read this and related legal terms for further details).......
66. Through Rate A freight rate that is the total rate from origin to destination; in some cases, surcharges may be applicable to the basic freight, and are additional to the through rate.......
67. Joint Rate Summary of Joint Rate A single factor rate applicable to the movement of goods through two or more carriers.(Main Author: William J. Miller) Resources See Also Joint through rate Rate...
68. Queen's Warehouse A warehouse operated by Canadian customs for the safe storage of imported merchandise that has been abandoned, seized, or left unclaimed. Goods that remain in the warehouse for two months may be sold or disposed of otherwise.......
69. Temporary Importation Under Bond An arrangement whereby foreign merchandise may be entered into the United States for a limited period of time without payment of duties. Normally, duties paid on foreign merchandise are not recoverable upon re-exportation of the goods from the United States. To avoid a loss on duties paid but not re......
70. Carrier's Certificate A document issued by a steamship line, an airline, or other transportation company carrying imported merchandise certifying to the customs authorities that the party named is the legitimate recipient of the goods and is authorized to effect clearance through customs (see figure). The party so named ......
71. Prime Rate The rate of interest on business loans by commercial banks to their most creditworthy customers. The maintenance of a COMPENSATING BALANCE (read this and related legal terms for further details) by the borrower is custom......
72. Trade Gap The spread between the value of a nation's merchandise imports and a lesser value of merchandise exports during a fixed time period.......
73. Open Rate A freight rate that is not set by a Conference (read this legal term for further details) and is therefore negotiable. An open rate may result from the absence of a conference rate agreement, or similar rate-setting scheme over a given trade route......
74. Brussels Definition Of Value A system for the valuation of imports for the application of ad valorem duties, adopted in 1953 following attempts to establish a European customs union. The European Customs Union Study Group submitted to the contracting states the Convention on the Valuation of Goods for Customs Purposes, along w......
75. Freight Summary of Freight The earnings that a carrier derives from the carriage of merchandise. Freight should not be confused with cargo, which is the merchandise itself. Also, the term freight is used to represent payment made by a charterer to the vessel's owner for use of a ship under a [...]...
76. General Term Bond A surety provided by an importer to the U.S. Customs Service to cover duty obligations arising from the importation of merchandise. These bonds are issued in amounts over $100,000 by approved bonding firms and may be used to cover all of the firm's importations in any U.S. port.......
77. Preferential Duties Especially low rates of duty granted by members of a political system to one another, or by a mother country to her colonial possessions.......
78. Transit Zone An entry point established by a coastal state for the benefit of a neighboring nation that is landlocked or lacking adequate port facilities for its own trade. Generally a transit zone is cordoned off from the main port facility, and goods passing through the zone are usually exempt from the [...]...
79. Aforos An official value, as compared with actual market value, assigned by customs authorities to certain classes of imported merchandise and used as the basis of computing ad valorem duties. The term is peculiar to a few countries in Latin America, notably Brazil, Mexico, and Uruguay.......
80. Sale At Less Than Fair Value The sale of merchandise to a foreign purchaser at a price below the price that would be charged for a like sale in the home market. Such sales may serve as the basis for an allegation of Dumping (read this and related legal ......
81. Cap Summary of Cap The maximum rate of interest that may be charged on a variable or floating rate loan, irrespective of how high the money market index may fluctuate.(Main Author: William J. Miller) CAP and the European Union Resources See Also Rate (Rate cap) Resources See Also [...]...
82. Green Rate A special rate of exchange used in converting agricultural prices fixed in units of account into national currencies, within the framework of the Common Agricultural Policy (read this and related legal terms for further deta......
83. Knock-Off An unauthorized copy of trade- marked, copyrighted, or brand-identifiable merchandise. Imports of such counterfeits constitute a significant nuisance to brand name producers. U.S. customs authorities are empowered to seize knockoffs in those cases where trademark or copyright owners or authorized us......
84. Preemption The prerogative of customs authorities to seize and sell merchandise that an importer has deliberately undervalued to avoid payment of dudes.......
85. Railroad Through Bill Of Lading An export Bill of Lading (read this and related legal terms for further details), issued by a railroad, covering shipment overseas of merchandise by combined rail/water service under a through rate. The bill of lading ma......
86. Compound Compound Term in Legal Information Retrieval The following is a basic concept of Compound Term in relation to information retrieval. In addition to this, Compound Term may be applied to legal texts, including case law, legislation and scholarly works. Compound term can refer to a term [...]...
87. Compound Tariff Compound Tariff and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Compound Tariff: A combination of a specific duty and an ad valorem tariff on the same imported item (e.g., $100 per [...]...
88. Conventional Duty A customs duty, or rate of duty, arising out of a treaty or other international agreement, as contrasted with an autonomous duty unilaterally imposed by a government absent of any international agreement.......
89. Compound Larceny Resources See Also Compounding crime Larceny...
90. Compensatory Duty Cross-reference: Duty.......
91. Autonomous Duty A rate of duty imposed by law, as contrasted with concessional duties which arise as the result of treaty or other international agreement.......
92. Bound Duty A rate of duty that a nation agrees it will not raise without the concurrence of its trading partners.......
93. Differential Duty A rate of duty on a given commodity that varies according to the country of origin.......
94. Discriminating Duty Synonymous with DIFFERENTIAL DUTY (read this and related legal terms for further details).......
95. Duty Liability The obligation to the government that arises from the importation of dutiable merchandise. Unpaid duties constitute a personal obligation to the government and may be satisfied from any assets of the importer or his estate. The government retains a lien upon the imported merchandise pending satisfac......
96. Prohibitive Duty A rate of duty so high as to effectively preclude entry of an item. Generally, prohibitive duties increase the selling price to such a level that the item cannot compete with domestic substitutes. Prohibitive duties are designed to protect domestic infant or ailing industries from vigorous [...]...
97. Specific Duty Cross-reference: Duty......
98. Customs Duty Spanish Translation of exemption from customs dutyThis is the legal translation of English to Spanish in relation to exemption from customs duty and / or a definition of this topic: Franquicia Aduanera (in Spanish, without translation of the dictionary entry)....
99. Countervailing Duty Countervailing Duty (CVD) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Countervailing Duty (CVD): A special duty levied on imports to enable domestic producers to compete on an [...]...
100. Ad Valorem Duty Any duty that is expressed as a percentage of the value of the imported merchandise. Most customs duties, particularly in the developed nations, are ad valorem duties.......
101. Duty A tax imposed by governmental authority on goods imported. The amount of the duty imposed on any given article is prescribed in the nation's [...]...
102. Export Duty A tax imposed on exports. This mechanism serves as a source of government revenue and is imposed by some countries on a limited number of products. Export duties are expressly forbidden by the U.S. Constitution.......
103. Import Duty Import Duty in International Trade Meaning of Import Duty, according to the Dictionary of International Trade (Global Negotiator): Any tax on items imported. See also tariff....
104. Statutory Rate Of Duty The rate of duty on the given product specified by the Smoot- Hawley Act (read this and related legal terms for further details) of 1930. The rates established by this act are applied to Column 2 countries, i.e., those t......
105. Delivered Duty Paid Spanish Translation of delivered duty paidThis is the legal translation of English to Spanish in relation to delivered duty paid and / or a definition of this topic: D.D.P. (in Spanish, without translation of the dictionary entry)....
106. Delivered Duty Unpaid Spanish Translation of delivered duty unpaidThis is the legal translation of English to Spanish in relation to delivered duty unpaid and / or a definition of this topic: D.D.U. (in Spanish, without translation of the dictionary entry)....
107. Anticircumvention Duty Anticircumvention Duty and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Anticircumvention Duty: A term used by the European Community for penalty charges imposed on the output of [...]...
108. Duty Laws In the United States For information about Duty laws in the context of international trade, click here...
109. Duty of Care Duty of Care in Aging Law Concept of Duty of Care in the context of Community Health Care and Services for Older Persons, published by the World Health Organization (WHO):A legal requirement that a person act towards others and the public with the watchfulness, attention, caution and prudence [...]...
110. Duty Paid Duty Paid in International Trade Meaning of Duty Paid, according to the Dictionary of International Trade (Global Negotiator): A price that includes the cost of import clearance. See DDP Incoterms....
111. Duty Owed References See Also Tort Product Liability Resources See Also Tort Product Liability...
112. Fiduciary Duty Fiduciary Duty: Main Elements The coverage of Fiduciary Duty includes the following element(s): Fiduciary Duty For detailed information on this issue, please read the corresponding entry. References See Also Business Law (in international or comparative law) Business Organizations (in [...]...
113. Civic Duty Literature Review on Civic Duty In the Encyclopedia of Public Administration and Public Policy, [1] Vera Vogelsang-Coombs and Larry Bakken provide the following summary about the topic of Civic Duty: This entry discusses the civic duty of public administrators, based on legal, ethical, and [...]...
114. Active Duty Description of Active Duty In this reference work, active duty is a sort of the Military law category. Resources See Also Positive Duty Under Duty Military law...
115. Breach of Duty Resources See Also Non-support...
116. Judicial Duty Resources See Also Judicial act Judicial action Judicial discretion...
117. Active-operations Duty Description of Active-operations Duty In this reference work, active-operations duty is a sort of the Maritime law category. Resources See Also Turnover Duty; Intervention Duty Shipping Maritime law...
118. Anti-dumping Duty Resources See Also Dumping Act...
119. Gross Neglect of Duty Resources See Also Desertion Non-support...
120. Injury Determinations in Countervailing Duty Investigations Injury Determinations in Antidumping and Countervailing Duty Investigations and the World Trade Organization Injury Determinations in Antidumping and Countervailing Duty Investigations in relation to the World Trade Organization (WTO) covers several issues....