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What is an Import Penalty?

What is an Import Penalty?

Inaccurate classification of goods, valuation of goods, country of origin, or goods not invoiced or declared can lead to CBP applying an import penalty on an importer. Import penalties are fines and...

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Types of Customs Import Duties

Types of Customs Import Duties

When importing into the United States, shippers should have an understanding of the different types of duties they will be required to pay upon entry. Customs Duties are an indirect tax imposed on...

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What is an Endorsement Clause?

What is an Endorsement Clause?

An insurance endorsement clause, also called a rider, is an amendment attached to an insurance contract that adds, removes, or changes the policy's coverage. An endorsement clause can be added when...

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What is Marine Cargo Insurance?

What is Marine Cargo Insurance?

Marine Cargo Insurance covers the loss, damage, or theft of commodities while in transit between the point of origin and final destination. This is also known as shipping insurance or freight...

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