AUTOMATED MANIFEST SYSTEM Definition

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AUTOMATED MANIFEST SYSTEM (AMS) is a multi-modular cargo inventory control and release notification system. AMS is the electronic system allowing a manifest inventory to be transmitted to the US Customs Service data center by carrier, port authority or service center computers. AMS interfaces directly with Customs Cargo Selectivity and In-Bond systems, and indirectly with ABI, allowing faster identification and release of low risk shipments.

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ENTITY CONCEPT is the concept that financial accounting and reporting relates only to the activities of a specific business entity and not to the activities of the owners of that entity.

FUTURES are contracts to buy or sell specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future.

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