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 legal action applied to importers by U.S. Customs and Border Protection (CBP) when goods are imported into the United States in violation of…

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Importing for Amazon: 8 Steps to Begin Selling on Amazon

Importing For Amazon: 8 Steps to Begin Selling on Amazon

Those who want to sell products manufactured outside the United States using Fulfillment by Amazon (FBA) will need to learn the basics of importing and the steps for becoming an Amazon seller. FBA sellers can import their products, send them directly to an Amazon warehouse, and fulfill customer orders without having to see or touch…

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The 6 Methods of Customs Valuation

The 6 Methods of Customs Valuation

Customs valuation is generally determined using transaction value. However, when using transaction value is insufficient, valuation can be determined using 5 other methods. The 6 Methods of Customs Valuation Method 1: Transaction value Method 2: Transaction value of identical goods Method 3: Transaction value of similar goods Method 4: Deductive method Method 5: Computed method…

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The Basics of Customs Valuation

The Basics of Customs Valuation

Customs Valuation determines the economic value of goods declared for importation. Importers must accurately assess and declare the value of goods to Customs before arrival. Those importing into the United States must adhere to specific guidelines set by the U.S. Customs and Border Protection (CBP). Using a standard set of rules for Customs Valuation is…

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What is Informed Compliance?

What is Informed Compliance?

Informed compliance is a shared responsibility between Customs and Border Protection (CBP) and the import community. CBP communicates its requirements to the trade, people, and businesses subject to conducting their regulated activities under U.S. laws and regulations. Implemented by U.S. Customs in the ’90s, informed compliance involves educating importers on the methods for classifying and…

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Round 3 of the List 1 Section 301 Exclusions has been released by the USTR.

Round 3 List 1 Exclusions Granted: Section 301

The U.S.T.R. announced more Section 301 exclusions granted for List 1. This new round of exclusions comes in addition to the two previous announcements. On April 18, 2019, the United States Trade Representative released an official announcement to the Federal Register with a third round of exclusions to List 1 of the Section 301 tariffs…

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