Terms used in shipping such as Tare Weight,Tariff,Tariff Anomaly,Tariff Schedule ,Tariff Quota,Tariff Escalation etc.
This post explains about terms used in shipping such Tare Weight,Tariff,Tariff Anomaly,Tariff Schedule ,Tariff Quota,Tariff Escalation,Team drivers,Technical Barrier to Trade,Table of Denial Orders etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
Terms used in shipping
Tare Weight - It is the weight of the container and/or packed materials without considering the weight of the goods inside the container.
Tare:The weight of packaging or a container without the goods.
Targeted Export Assistance Program - See: Market Promotion Program.
Tariff - A tax assessed by a government in accordance with its tariff schedule on goods as they enter (or leave) a country. May be imposed to protect domestic industries from imported goods and/or to generate revenue. Types include ad valorem, specific, variable, or some combination.
Tariff - It is the duty levied on goods transported from one customs area to another, or on imported products.
Tariff - Schedule of charges. such as the freight tariff of a shipping line or conference, in which are published freight rates, generally for a wide variety of commodities.
Tariff (Trf.):A publication setting forth the charges, rates and rules of transportation companies.
Tariff Act of 1930 - Title VII of the Tariff Act of 1930, as amended, provides for the imposition of antidumping duties on imported merchandise found to have been sold in the United States at "less than fair value," if these sales have caused or are likely to cause material injury to, or materially retard the establishment of, an industry in the United States. The following terms and phrases are commonly used in connection with procedings under The Tariff Act of 1930, as amended. See: Administrative Review Antidumping Duty Antidumping Investigation Notice Antidumping Duty Order Antidumping Petition Assessment "Class or Kind" of Merchandise Constructed Value Cost of Production Critical Circumstances Deposit of Estimated Duties Disclosure Meeting Dismissal of Petition Dumping Margin Exporter's Sales Price Fair Value Final Determination Foreign Market Value Hearing Period of Investigation Preliminary Determination Protective Order Purchase Price Revocation of Antidumping Duty Order & Termination of Suspended Investigation Section 337 Summary Investigation Suspension of Investigation Suspension of Liquidation.
Tariff Anomaly - A tariff anomaly exists when the tariff on raw materials or semi-manufactured goods is higher than the tariff on the finished product.
Tariff Bindings - The agreement by contracting parties to maintain the duty rates on specified goods at negotiated levels or below. Bindings are provided for in GATT Article II.
Tariff Code:Every product has a corresponding code that’s used when goods are cleared through UK customs. This code denotes percentage of duty that’s paid on that product and can be found at www.gov.uk/trade-tariff.
Tariff Escalation - This term refers to the common situation whereby raw materials and less processed goods are generally dutied at lower rates than more processed versions of the same or derivative goods. For instance, the import duty in most countries is generally higher for petrochemicals than for the petroleum and other raw materials necessary for their production. It is argued by primary commodity exporting nations that this situation confers a higher degree of protection for the processing industries of importing countries than nominal tariff rates would suggest.
Tariff Quota - A tariff that remains at the same level until a certain quantitative limit (quota) is reached. The duty on imports ports in excess of that level will be higher.
Tariff Schedule - A comprehensive list of the goods which a country may import and the import duties applicable to each product.
Tariff Schedules of the United States Annotated - Effective 1979 to January 1989, the U.S. import statistics were initially collected and compiled in terms of the commodity classifications in the Tariff Schedules of the United States Annotated (TSUSA), an official publication of the U.S. International Trade Commission embracing the legal text of the Tariff Schedules of the United States (TSUS) together with statistical annotations. This publication was superseded by the Harmonized Tariff Schedule of the United States Annotated for Statistical Reporting Purposes (HTSUSA) in January 1989. Effective 1979 to January 1989, the U.S. export statistics were initially collected and compiled in terms of the commodity classifications in Schedule B, Statistical Classification of Domestic and Foreign Commodities Exported from the United States. Schedule B is a U.S. Bureau of the Census publication and, during this period, was based on the framework of the TSUS. In January 1989, this publication was replaced by Schedule B based on the Harmonized System. See: Schedule B.
Tariff Surcharges - An import tax that is usually assessed at a flat rate over and above whatever duties are assessed.
tariff: Schedule, system of duties imposed by a government on the import/export of goods; also, the charges, rates and rules of a transportation company as listed in published industry tables.
TARIFF:(1) A general term for any listing of rates or charges. The tariffs most frequently encountered in foreign trade are: tariffs of international transportation companies operating on sea, land, and in the air; tariffs of international cable, radio, and telephone companies; and the customs tariffs of the various countries that list goods that are duty free and those subject to import duty, giving the rate of duty in each case. There are various classes of customs duties.
Tax Information Exchange Agreement - A TIEA imposes on the agreeing countries a mutual and reciprocal obligation to exchange information relating to the enforcement of their respective tax laws. A TIEA provides a means by which a signatory government can pursue certain tax evaders, particularly in cases involving large tax claims or drug enforcement. Countries that sign a TIEA agree to: (a) exhange tax information at the government level in a form admissable to U.S. or host country courts; (b) collect information without regard to the taxpayer's nationality; (c) establish a means for compelling the production of tax information; and (d) ensure that local laws do not prohibit the sharing of tax information. A TIEA can support tourism in a signatory country because the Agreement facilitates Internal Revenue Service approval of the destination as a necessary business expense (deductible for Federal income tax purposes) for U.S. citizens and companies which seek to justify attendance at business conventions and seminars in a signatory country.
TBA - To be advised.
TBN - To Be Nominated - Said in respect of a voyage for which a specific ship has yet to be designated by the shipowner or shipping line.
TCI - Third Country Initiative
TCMD - Third Country Meat Directive
Tcpa. - Target closest point of approach
TD - Table of Denial Orders
TDA - Trade and Development Agency
TDR:Terminal Departure Report
TEA - Targeted Export Assistance Program
Team drivers:when two drivers are utilized in the cab of one truck so that when the first driver has reached maximum time allowed to drive by law, the second driver can take over while the first driver rests.
Technical Advisory Committees - The TACs are voluntary groups of industry and government representatives who provide guidance and expertise to Commerce on export control matters, including evaluation of technical issues; worldwide availability, use and production of technology; and licensing procedures related to specific industries. TACs have been set up for: (a) materials (Materials Technical Advisory Committe, MATAC), (b) biotechnology (Biotechnology Technical Advisory Committee, BIOTAC), (c) computer systems (CSTAC), (d) electronics (ETAC) (formerly "semiconductors"), (e) sensors (STAC) (formerly "electronic instrumentation"), (f) materials processing equipment (MPETAC) (formerly "automated manufacturing equipment"), (g) regulations and procedures (RPTAC), (h) telecommunications equipment (TETAC), and (i) transportation and related equipment (TRANSTAC).
Technical Barrier to Trade - According to the Standards Code, a specification which sets forth characteristics or standards a product must meet (such as levels of quality, performance, safety, or dimensions) in order to be imported.
The above details describes about terms called in shipping such as Tare Weight,Tariff,Tariff Anomaly,Tariff Schedule ,Tariff Quota,Tariff Escalation,Team drivers,Technical Barrier to Trade,Table of Denial Orders etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in shipping business below this post.Terms used in shipping such as Technology,Technology Transfer,Telex Release,Tenor,Terminal Receiving Charge,Terminal etc
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