(i) The selection of factors on which to base premium rates e.g., location, activities. (ii) A Class (iii) A Customs Term. The placement of an item under the correct number in the customs tariff for duty purposes. At times this procedure becomes highly complicated; it is not uncommon for importers to resort to litigation over the correct duty to be assessed by the customs on a given item.
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The systematic arrangement of properties, persons, or business operations into groups or categories according to certain criteria. Such classification creates a basis for establishing statistical experience and determining rates, and to avoid unfair discrimination.