U.S. Trade Stats and Trends | Q1 2021

U.S. Trade Stats and Trends | Q1 2021

Through the first quarter of 2021, U.S. trade has been making a recovery after collapsing in 2020 due to the COVID-19 pandemic. The WTO estimates that the volume of world merchandise trade is expected to increase by 8.0% in 2021 after falling 5.3% in 2020, continuing its rebound from the collapse that was lowest in…

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What is an End of Policy Adjustment?

What is an End of Policy Adjustment?

When your policy expires, your marine cargo insurance provider will review the estimated shipping amount you initially provided compared to the actual volume of cargo you shipped through the year. Then, they will likely make an adjustment to your policy based on the difference between your estimated and actual shipping amounts. What is an End…

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What is an Airport Security Bond?

What is an Airport Security Bond?

When operating a business inside an airport behind secure lines, it is necessary to obtain both an airport security bond and a Customs access seal for security reasons. What is an Airport Security Bond? An Airport Security Bond (ASB) is a U.S. Customs bond needed for outsourced service companies to enter secured areas of airports….

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Why FBA Sellers ShouldPurchase a Customs Bond

Why FBA Sellers Should Purchase a Customs Bond

When importing for Amazon, it is essential that you take the initiative to purchase your own Customs bond to avoid liability and likely save money. What is a Customs Bond, and Why do I Need it? A Customs import bond is a financial guarantee between the surety issuing the bond, the importer of record, and…

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Suez Canal Blockage Results in General Average

Suez Canal Blockage Results in General Average

The Suez Canal was blocked for six days between March 23rd and 29th, 2021, after the accidental grounding of a cargo ship known as the Ever Given. General average has officially been declared as a result of this event. What Happened on the Suez Canal? On the morning of March 23rd, 2021, strong winds and…

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8 Things to Know When Importing Wine Into the U.S.

8 Things to Know When Importing Wine Into the U.S.

Those shipping wine to the United States will need to work with Customs to get it imported, and there are a few things to know about navigating this. The key to efficiently importing wine into the U.S. is knowing all the restrictions and regulations that apply, along with a few other specific steps. 1. Ensure…

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