Podcast
Questions and Answers
Match the following terms with their definitions:
Match the following terms with their definitions:
Customs territory = Areas in the Philippines where customs and tariff laws may be enforced Diversion = Bringing bonded articles to a place other than its intended destination without prior authority Goods Declaration = Statement made regarding the entry or admission of imported goods Client Exporter = Person engaged in manufacturing products for export using raw materials
Match the following facilities with their descriptions:
Match the following facilities with their descriptions:
Customs bonded warehouse (CBW) = Facility licensed to import, receive, and store goods without payment of duties and taxes underbond Extension Warehouse = Separate CBW facility granted to optimize capacity and efficiency in operation Free Zone = Special economic zone registered with PEZA under Republic Act No. 1716 Customs Premises = Includes customs offices, warehouses, ports, airports, and other premises exclusively controlled for customs purposes
Match the following processes with their definitions:
Match the following processes with their definitions:
Exportation = Process of bringing goods out of Philippine territory Entry = Process of bringing imported goods into the customs territory Importation = Act of bringing goods from a foreign country into Philippine territory Formula of manufacture = Conversion formula issued by authorized institution to CBW operator determining raw material usage for export
Match the following terms with their definitions:
Match the following terms with their definitions:
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Match the following terms with their meanings:
Match the following terms with their meanings:
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Match the following terms with their descriptions:
Match the following terms with their descriptions:
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Match the following terms with their definitions:
Match the following terms with their definitions:
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Match the following terms with their meanings:
Match the following terms with their meanings:
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Match the following terms with their descriptions:
Match the following terms with their descriptions:
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Study Notes
Client Exporter
- Refers to a person engaged in manufacturing products using raw materials, accessories, and packaging materials for export or storage for authorized end users and clients.
Customs Bonded Warehouse (CBW)
- A facility licensed by the bureau to import, receive, and store goods without payment of duties and taxes under bond.
- Goods stored in CBW can be for manufacture into finished products for export or storage for authorized end users and clients.
Customs Premises
- Includes customs offices, facilities, warehouses, ports, airports, wharves, infrastructure, and other premises under the bureau's exclusive control, direction, and management for customs purposes.
Customs Territory
- Refers to areas in the Philippines where customs and tariff laws may be enforced.
Diversion
- The act of bringing bonded articles to a place other than their intended destination without prior authority from the bureau.
Entry
- The act of documentation and process of bringing imported goods into the customs territory, including goods coming from free zones.
Exportation
- The act of documentation and process of bringing goods out of the Philippine territory.
Extension Warehouse
- A separate CBW facility granted by the bureau to an already authorized CBW operator to optimize capacity and efficiency in its operation.
Free Zone
- A special economic zone registered with the Philippine Economic Zone Authority (PEZA) under Republic Act No. 7916, as amended, or duly chartered or legislated special economic zones and free ports.
Formula of Manufacture
- A formula issued by a duly authorized government institution to a CBW operator, determining the raw material usage and wattages of a particular finished product for export and subsequent liquidation.
Goods
- Articles, ware, merchandise, and other items subject to importation and exportation.
Goods Declaration
- A statement made in the manner prescribed by the bureau and other appropriate agencies, indicating the procedure to be observed in the application for the entry or admission of imported goods and the particulars required by the customs administration.
Importation
- The act of bringing in goods from a foreign country into the Philippine territory.
Alert Order
- A written issue by the Commissioner or District Collector, or other customs officer authorized in writing by the Commissioner, after the lodgement of goods declaration and before their actual release from customs authority.
Authority to Operate
- Authority given by the bureau to a person, natural or juridical, to establish and operate a CBW.
Authority to Transfer
- A document issued by the District Collector to a CBW, allowing the transfer or sale of imported raw materials, semi-finished products, or finished products.
Certificates
- Certificate of Authority to Operate: A document issued by the Bureau to operate a CBW.
- Certificate of Identification (CI): A document certifying that a finished product is from a particular warehouse entry.
- Certificate of Importer Accreditation: A document issued by the Bureau to an entity registered as an importer, recognized as electronically lodging goods declarations in the Bureau's existing registration system.
- Certificate of Inspection and Loading (CIL): A document issued by the Bureau, certifying the conduct of inspection over the cargo for export and its actual loading on the exporting carrier.
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Description
Test your knowledge on customs authority terminology such as alert order, authority to operate, and authority to transfer. Learn about the written issues by customs officers and the documents required for establishing and operating a Customs Bonded Warehouse (CBW).
