Related Entries of the International Encyclopedia:

1. 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).......
2. 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 [...]...
3. 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......
4. 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 Foreign merchandise entering a zone remains exempt from duty until withdrawn,......
5. 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......
6. 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......
7. 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......
8. 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......
9. 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......
10. 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 ......
11. 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......
12. 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......
13. 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 [...]...
14. 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.......
15. 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 [...]...
16. Letter of Indemnity A document issued by a shipper of merchandise to a steamship line as an inducement for the carrier to issue a clean bill of Lading (read this and related legal terms for further details) where it might not otherwise do s......
17. Quota-Class Merchandise Goods subject to Quota (read this and related legal terms for further details) restrictions.......
18. 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.......
19. 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...
20. 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 (...
21. 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).......
22. 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 (...
23. Commercial Bill A bill of exchange (read here for further details) that arises out of a transaction involving the sale of goods.......
24. 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......
25. 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......
26. 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......
27. 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 [...]...
28. 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......
29. 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).......
30. 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......
31. 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 (...
32. 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......
33. Cross Bill Synonymous with re-draft (read this and related legal terms for further details).......
34. 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 (...
35. 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 [...]...
36. Clause Paramount A provision in an ocean bill of lading that incorporates by reference laws or international agreements into the bill. The term is most commonly used with reference to the enacting clause of the CARRIAGE OF GOODS BY SEA ACT (......
37. Discriminating Duty Synonymous with DIFFERENTIAL DUTY (read this and related legal terms for further details).......
38. 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......
39. 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 [...]...
40. 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).......
41. 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......
42. 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.......
43. Hypothecation Certificate Also known as a letter of hypothecation, a document attached to a bill of exchange (read here for further details) that arises from a shipment of merchandise. The hypothecation certificate empowers the bank presenting the bill or any subsequ......
44. 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. [...]...
45. Specific Duty Cross-reference: Duty......
46. Contract Of Affreightment Contract Of Affreightment Summary of Contract Of Affreightment A contract, between the shipper of goods and a transport company, specifying the terms and conditions under which a given lot of merchandise is to be moved. The contract is usually evidenced by a bill of lading containing the [...]...
47. 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......
48. Bill Of Sufferance A document given by customs authorities to coastal vessels authorizes the movement of goods in bond.......
49. 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.......
50. 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.......
51. 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 ......
52. Datafreight Receipt A document issued by some steamship operators in lieu of a bill of LADING (read this and related legal terms for further details) on straight consignment shipments. Rather than issue a formal bill of lading, the carrier ......
53. Straight Consignment Goods conveyed under a straight, i.e., nonnegotiable, Bill of lading (read this and related legal terms for further details).......
54. 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......
55. 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)....
56. Delivery Order Written instructions issued by the owner of goods or his authorized agent to the holder of such goods directing that the merchandise be released or shipped to a specified party.......
57. 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 [...]...
58. 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......
59. Under Deck Bill Of Lading An ocean bill of Lading (read this and related legal terms for further details) bearing the specific notation that the goods have been stowed below deck. Under deck stowage has been traditionally regarded as safer than s......
60. 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 [...]...
61. 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......
62. 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......
63. Combined Transport Bill Of Lading A bill of lading covering movement of goods through more than one carrier, and perhaps through several modes of transport (water, air, rail, motor). The issuer of a combined transport bill of lading assumes responsibility for the goods throughout the journey until final destination, but his legal li......
64. Entrepot A warehouse or storage facility where foreign merchandise may be deposited and withdrawn for re-export without incurring customs duties.......
65. 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).......
66. 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......
67. 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.......
68. Clean Bill of Exchange Any bill of exchange (read here for further details) not accompanied by documents, such as invoices, bills of lading, et cetera. See direct collection.......
69. 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.......
70. 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......
71. Prime Bill Of Exchange A bill of exchange (read here for further details) that states on its face that it arises from the sale of goods.......
72. Real Interest Rate Synonymous with effective interest Rate (read this and related legal terms for further details).......
73. Transferable Letter of Credit A Letter Of Credit (read this and related legal terms for further details) that is transferable from the original beneficiary to a subsequent beneficiary. This type of credit is used when the original beneficiary is a br......
74. Kyoto Convention An international agreement, sponsored by the Customs cooperation Council (read this and related legal terms for further details), the object of which is to harmonize the methods and procedures of national customs authori......
75. 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 ......
76. 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......
77. Count Certificate A document confirming the count of merchandise at time of shipment or delivery. The document is often issued by an independent third party, such as an inspection bureau.......
78. 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......
79. Merchandise In the United States For information about Merchandise in the context of international trade, click here...
80. Bound Duty A rate of duty that a nation agrees it will not raise without the concurrence of its trading partners.......
81. Differential Duty A rate of duty on a given commodity that varies according to the country of origin.......
82. Intermediate Goods Synonymous with Intermediate Products (read this and related legal terms for further details).......
83. 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.......
84. Customs Cooperation Council An international organization established for the purpose of harmonizing the customs procedures and techniques of member countries. The agency is concerned with the mechanics of customs administration and is not involved in matters relating to tariff levels or similar substantive economic [...]...
85. 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) ......
86. Confirming Confirming in International Trade Meaning of Confirming, according to the Dictionary of International Trade (Global Negotiator): A financial service in which an independent company confirms an export order in the seller's country and makes payment for the goods in the currency of that [...]...
87. Confirming Bank Confirming Bank in International Trade Meaning of Confirming Bank, according to the Dictionary of International Trade (Global Negotiator): In a letter of credit transaction, the bank that assumes responsibility to the seller (usually the exporter) for payment from the issuing bank (buyer's [...]...
88. House-to-house House-to-house in International Trade Meaning of House-to-house, according to the Dictionary of International Trade (Global Negotiator): This term generally refers to a container yard to container yard (CY/CY) shipment, in which case it may be uses merely to quote the rental rate for the [...]...
89. House Pier-to-house in International Trade Meaning of Pier-to-house, according to the Dictionary of International Trade (Global Negotiator): A shipment loaded into a container at the pier or terminal, thence to the consignee's facility....
90. Acceptance House A nonbank financial institution that specializes in acceptance financing (read this and related legal terms for further details).......
91. Custom-house Resources See Also Bureau of Customs? Customs broker Customs Service...
92. Customs House Resources See Also Custom-house Customs Service...
93. Clearing House Resources See Also Library Law Library Legal Deposit Public Law Library Information Science Research Investigation Legal Research Study...
94. House Airway Bill House Airway Bill (Hawb) in International Trade Meaning of House Airway Bill (hawb), according to the Dictionary of International Trade (Global Negotiator): A bill of lading issued by a freight forwarder for consolidated air freights shipments. In documentary letter of credit transactions [...]...
95. House Bill of Lading House Bill of Lading (House B/L) in International Trade Meaning of House Bill of Lading (house B/l), according to the Dictionary of International Trade (Global Negotiator): A bill of lading issued by a freight forwarder. Often covers a consignment of parcels from various shippers that has been [...]...
96. House Bill A bill of exchange drawn by a bank upon its branch or subsidiary abroad.......
97. Upper House Upper House in Election Law One of the two chambers in a bicameral legislature, often seen either as containing 'the representatives of regions/federal states' or as 'a chamber of review'. This is the less powerful chamber when the powers of the two chambers are unequal. [...]...
98. Speaker of the House Concept of Speaker of the House Note: explore also the meaning of this legal term in the American Ecyclopedia of Law. Resources See Also Congress...
99. U.s. House of Representatives Concept of U.s. House of Representatives Note: explore also the meaning of this legal term in the American Ecyclopedia of Law. Resources See Also Congress...
100. White House White House Fact Sheet In relation to the international law practice and White House Fact Sheet in this world legal Encyclopedia, please see the following section: Use of Force, Arms Control, Disarmament, Nonproliferation About this subject: Use of Force Under this topic, in the [...]...
101. Gaming House Resources See Also Gambling place...
102. Automated Clearing House Definition of Automated Clearing House (ach) in International Trade The following is a concept of Automated Clearing House (ach) in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): An electronic clearing system in which payments orders [...]...
103. Blair House Accord Blair House Accord and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Blair House Accord: A bilateral agreement between the United States and the EC Commission, concluded in November 1992 [...]...
104. Brethren of Trinity House Resources See Also Elder brethren...
105. White House Fact Sheet White House Fact Sheet in 2011 United States views on international law (based on the document "Digest of U.S. Practice in International Law"): On March 7, 2011, the White House released a fact sheet regarding its detainee policy and new actions taken to close the detention facility [...]...
106. Lower House Lower House in Election Law In a bicameral legislature, this is the chamber with the highest power in legislative matters and with regards to government. It is always elected by universal suffrage, unlike the Upper House, which is sometimes not elected by direct popular vote. Resources See [...]...
107. In-house Lobbyists Concept of In-house Lobbyists Note: explore also the meaning of this legal term in the American Ecyclopedia of Law. Resources See Also Political Participation Interest Groups Lobbying...
108. Combined Transport Document A bill of lading issued by a combined transport operator (read this and related legal terms for further details) covering shipment of goods by more than one mode of transport. The document specifies the point at which th......
109. Commodity Summary of Commodity A nondifferentiated product produced with commonly available technology.(Main Author: William J. Miller) The Legal History of Commodity in Islamic Law This section provides an overview of Commodity in Islamic Law Commodity in International Trade Meaning of [...]...
110. Common Carrier Read Carrier as cross-reference......
111. Common External Tariff Summary of Common External Tariff The uniform customs tariff applied by all the member states of a customs union or common market to imports from nonmember nations.(Main Author: William J. Miller) Common External Tariff and the GATT Policy Negotiations In relation to the GATT [...]...
112. Common Market Summary of Common Market A supranational organization of trading nations, created to promote economic collaboration and minimize constraints on the free movement of goods among the member states. Features of a common market include elimination of tariffs on goods moving between member [...]...
113. Compensation Deal A semibarter arrangement in which goods are purchased partially in cash and partially with other goods.......
114. Compound Duty Cross-reference: Duty......
115. Consignee The person or firm to whom goods are shipped under a bill of lading (read this and related legal terms for further details) and so named in the bill.......
116. Consignment Summary of Consignment Goods in transit under a bill of lading (read this and related legal terms for further details)(Main Author: William J. Miller) Consignment in International Trade Meaning of Consignment, according to the Dictionary of International Trade (Global [...]...
117. Consignor The person or firm shown as shipper on the BILL OF LADING (read this and related legal terms for further details).......
118. Consolidation Summary of Consolidation The combination of various small shipments into one large shipment so as to achieve a lower overall freight rate.(Main Author: William J. Miller) Consolidation of Results in Election Law A process of bringing together election results from a number of [...]...
119. Container Freight Station A warehouse or terminal licensed by U.S. Customs to receive in-bond consolidations of containerized cargo. The containers delivered to this station carry imported merchandise in small lots destined to many consignees; the goods will be removed from the containers under customs supervision and [...]...
120. Container Yard A facility at which a steamship operator makes full container loads of merchandise available for pick-up by the consignee following discharge from the vessel.......