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

HS and HTS Codes: Global Trade's Common Language

Accurate and straightforward communication can be one of the most challenging barriers to overcome in the business of international trade, but there are programs in place to make it easier. 

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.  

Customs Bond Processing: Lead Time

Customs bond processing is not terribly complicated, but it can seem that way without knowing the lay of the land.  There are a few important things to keep in mind in regards to Customs and Border Protection (CBP) processing a Customs bond

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.  

Customs Bond Penalties Explained

Bond claims are an important element of the importing process to understand.  A breach of bond or violation of law can start off the process.  A breach of bond will result in liquidated damages from Customs; a violation of the law results in a penalty.  

Customs Bonds 101 Questions and Answers Vol 2

We had so many great questions from the attendees of our recent webinar, we decided to publish a few volumes of them, along with answers for our readers here on TRG Peak.  The first volume was published two weeks ago--this is volume two:  

Customs Bonds 101 Questions and Answers Vol 1

We recently gave a presentation on the basics of U.S. Customs Bonds, called “Customs Bonds 101.” During the presentation, the attendees asked so many excellent questions, we felt like it would be a good idea to share some of them.  

Merchandise Processing Fee Error

During the week of June 11^th, U.S. Customs & Border Protection (CBP) began their process of re-liquidating entries between October 1^st and November 4^th, in order to retroactively charge for the increased Merchandise Processing Fee (MPF).  

Supply Chain Management Tips

There are myriad motives for every importer to keep a close eye on supply chain management.  It is much easier to keep problems in check with a systematic and organized approach to the import process. 

Merchandise Processing Fee Increased

Supplemental duty bills are one of the many Customs duties that can cross an importer’s desk.  Improperly classifying goods can result in one of these bills; so can the results of a pending anti-dumping or countervailing ruling,

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. 

Customs Duties Deconstructed

What are Customs duties?

There are many different duties U.S. Customs and Border Protection may require an importer to pay.  Some are related to the origins of the goods in question, and some to the goods themselves.  It’s always a good idea for importers to keep a working knowledge of what these duties are, what they affect, and how.