ISF Enforcement Update

Correct, complete, and timely Importer Security Filing (ISF) is a crucial element of the import process for anyone bringing goods into the United States.  Properly filed ISF documents help U.S. Customs and Border Protection (CBP) to ensure the safety of the United States while disrupting international as little as possible. 

Customs Bonds – 5 Things You Should Know

Although they are a vital element of international trade, many people are not familiar with U.S. Customs bonds, or their functions.  This list should provide a good starting point

Activity Codes

Types of U.S. Customs Bonds

There are many different activity codes associated with US Customs bonds.  Most of these bonds are activity code 1, the importer bond; however, the other types of Customs bonds play an interesting role in global trade. 

Foreign Trade Zones FTZ

What is a Foreign Trade Zone (FTZ)?

Foreign Trade Zones (FTZ) are areas granted a special status by the Foreign Trade Zone board. Within the boundaries of a Foreign Trade Zone, goods imported from another country can be stored without being subjected to Customs duties until entered into the commerce of the United States.  

What is ACE?

US Customs and Border Protection (CBP) is hard at work developing and improving the new Automated Commercial Environment (ACE) system.  Since many who work in the global trade arena will be affected to some extent by its implementation, it makes sense to understand a bit more about it.  

Country of Origin Marking

For goods sold and traded in global commerce, many countries require a mark associated with the country of origin.  A “made in USA” sticker or engraving on a mug, or tag on a piece of clothing is country of origin marking at work.  

Liquidation Information

Liquidation is a natural element of the importing process.  It refers to the procedure in which a shipment of goods has its classification, value, duties, and taxes assessed in finality by U.S. Customs and Border Protection (CBP). 

Valuation

Valuing goods is an important aspect of filing requirements for importing goods into the United States of America.  Customs and Border Protection (CBP) must be provided not only with the classification of the goods being entered into commerce, but their accurate value as well. 

Liquidated Damages

Liquidated damages are a noteworthy element of the importing process when something has gone awry.  A breach of bond conditions will result in these liquidated damages being assessed by US Customs and Border Protection (CBP) after liquidation has occurred. 

Supplemental Duty Bills Explained

A supplemental duty bill is issued by U.S. Customs and Border Protection (CBP) when it is determined upon liquidation that additional duty is due.  In other words,  the duties that have been paid on a liquidated entry are believed to be insufficient.  

Inspection Tech

U.S. Customs and Border Protection (CBP) is one of the oldest agencies in American history, and has always been an integral element of the American government.  Since 1789, Customs has managed the collection of duties related to the import of goods into the United States.  

Customs Duties Revisited

In a previous article, Customs Duties Deconstructed, we covered some of the less-common, but highly important categories of Customs duties, like Anti-Dumping Duty, Countervailing Duty, Supplemental Duty, and everyone’s favorite, Duty Free—which if you remember, is still a duty.