15 Questions
What is the meaning of Abatement?
The reduction or diminution of duties and taxes
What is the purpose of an Airway Bill (AWB)?
To serve as a contract of carriage with carrier conditions
What occurs when goods are transported out of the Philippine territory?
Actual or Outright Exportation
What is Admission in the context of customs procedures?
The act of bringing imported goods into a free zone
What is not a customs procedure according to the given text?
Import Declaration
What is the function of an Authorized Economic Operator (AEO)?
To provide a seamless movement of goods through secure international trade supply chains
What is the purpose of Conditional Importation under the Revised Kyoto Convention (RKC)?
To allow certain goods to be brought into a customs territory conditionally relieved from payment of import duties and taxes
Who has the right to claim delivery of goods at the port of destination based on a Bill of Lading (B/L)?
Importer
What does the term 'Clearance' refer to in customs procedures?
Completion of customs and other formalities to allow goods to enter or leave a territory
Under what circumstances can goods be conditionally relieved from payment of import duties and taxes?
If they are imported for a specific purpose and intended for reexportation within a specified period
Who is responsible for determining the amount of duties and taxes due on imported and exported goods?
The Assessment process
What action does 'Appeal' refer to in the context presented?
Seeking redress before the Bureau, Secretary of Finance, or competent court for any grievances
Who is referred to as the 'Carrier' in customs terminology?
Person transporting goods across international borders
What role does a Customs Broker play in international trade?
Completing customs formalities for goods shipments
What does the term 'Commission' refer to in customs procedures?
Referring to the Tariff Commission in customs terminology
Test your knowledge of customs terminologies with this quiz covering terms like abatement, actual exportation, admission, and airway bill. Expand your understanding of customs procedures and documentation.
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