The Entry Process for Imports

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Presentation transcript:

The Entry Process for Imports Chapter 18 The Entry Process for Imports

Entry of Imports Entry is the act of filing the necessary documentation with customs to secure release of imported merchandise.

Accrual of Duties on Imports On arrival of the vessel Arrival of merchandise

Who May Import the Goods? Owner Purchaser Authorized regular employee Licensed customs broker

Documentation Required to Enter Merchandise Entry manifest Commercial invoice Pro-forma invoice Packing list

Release of Merchandise Complete entry Payment of estimated duty and release of merchandise A bond must be posted before filing the entry summary to guarantee duty on final assessment Bonds by a U.S. surety company or a U.S. resident/citizen

Liquidation and Protests Liquidation: Liquidation is the final ascertainment of the duties and drawback accruing on an entry by customs. Protests: Courts of Appeals for the Federal Circuit Supreme Court CIT Director

Harmonized Tariff Schedule of the United States (HTSUS) Is a commodity description and coding system that is used by many countries Classifies goods according to their essential character

Customs Valuation Customs valuation (Tokyo Round) Appraisal of merchandise based on: Transaction value (invoice value) Deductive value (resale price of an imported item with certain deductions) Computed value (costs of materials, overhead + profits + general expenses)

Rules of Origin and Other Marking Requirements Marking requirements: - Every imported article must be legibly marked with the English name of the country of origin unless otherwise indicated.