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Understanding Customs Terminology
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Understanding Customs Terminology

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Questions and Answers

What does 'abatement' refer to in the context of this Act?

  • Act of bringing imported goods into a free zone
  • Customs procedure applicable to goods leaving the Philippine territory
  • Reduction or diminution of duties and taxes where payment has not been made (correct)
  • Transport document for airfreight used by airlines
  • What does 'actual or outright exportation' refer to in the context of this Act?

  • Customs procedure applicable to goods leaving the Philippine territory (correct)
  • Act of bringing imported goods into a free zone
  • Transport document for airfreight used by airlines
  • Reduction or diminution of duties and taxes where payment has not been made
  • What does 'admission' refer to in the context of this Act?

  • Act of bringing imported goods into a free zone (correct)
  • Reduction or diminution of duties and taxes where payment has not been made
  • Transport document for airfreight used by airlines
  • Customs procedure applicable to goods leaving the Philippine territory
  • What is an 'airway bill (AWB)' in the context of this Act?

    <p>Transport document for airfreight used by airlines</p> Signup and view all the answers

    Which term refers to the act of bringing imported goods directly or through transit into a free zone?

    <p>Admission</p> Signup and view all the answers

    What is the Bill of Lading (B/L) used for?

    <p>Claiming delivery of goods at the port of destination</p> Signup and view all the answers

    What does 'clearance' refer to in the context of customs?

    <p>The completion of customs and government formalities for goods to enter a territory</p> Signup and view all the answers

    What does 'conditional importation' refer to under the RKC?

    <p>Importing goods for a specific purpose and reexporting within a specified period</p> Signup and view all the answers

    Who is considered an Authorized Economic Operator (AEO)?

    <p>Any person accredited by the Bureau based on international trade standards</p> Signup and view all the answers

    Who is considered a 'Carrier' in the context of customs?

    <p>The person in charge of transporting goods or operating means of transport</p> Signup and view all the answers

    What is the primary purpose of an Airway Bill (AWB) in the context of customs?

    <p>To act as a contract of carriage that includes carrier conditions</p> Signup and view all the answers

    In the context of customs, what does 'actual or outright exportation' refer to?

    <p>The customs procedure applicable to goods leaving the Philippine territory and intended to remain permanently outside it</p> Signup and view all the answers

    What is the primary function of an Abatement in the context of this Act?

    <p>To reduce or diminish duties and taxes where payment has not been made</p> Signup and view all the answers

    What does 'admission' refer to in the context of this Act?

    <p>The act of bringing imported goods directly or through transit into a free zone</p> Signup and view all the answers

    What is the purpose of an Airway Bill (AWB) in the context of customs?

    <p>To specify the holder or consignee of the bill who has the right to claim delivery of the goods</p> Signup and view all the answers

    What is the purpose of a Bill of Lading (B/L) in the context of customs?

    <p>To assert the right to claim delivery of goods at the port of destination</p> Signup and view all the answers

    In the context of customs, what does 'Clearance' refer to?

    <p>The completion of customs and government formalities to allow goods to enter for consumption</p> Signup and view all the answers

    What is an 'Authorized Economic Operator (AEO)' in the context of customs?

    <p>An entity accredited by the Bureau based on international trade supply chain guidelines</p> Signup and view all the answers

    What does 'Conditional Importation' refer to under the RKC?

    <p>Temporary admission of certain goods into a customs territory conditionally relieved from import duties and taxes</p> Signup and view all the answers

    What does 'Carrier' refer to in the context of customs?

    <p>The person responsible for the operation of means of transport, such as airlines and shipping lines</p> Signup and view all the answers

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