Tekle Sebahtu Ph.D.

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Presentation transcript:

Tekle Sebahtu Ph.D.

 Getting started  Role of Custom House Broker  Customs Entry process  Importers responsibility under the Mod Act.  Documents Required to make Entry  What importers should tell their exporters  Q&A

Importing is not a right, it is a privilege, which can be revoked if rules and regulations are not followed.

 Company assessment – Planning, Commitment, Knowledge and Relationship.  License or a Company to import?  File entry documents yourself or hire assistance?  Get help!

 Conduct Customs Business (Valuation, Classification, Admissibility & Marking )  International documentation, packaging carrier and routing information.  Import quota information  Marine insurance rates and coverage  Customs Bonds  Must give Power of Attorney

The process of filing documents with Customs at the port of entry to get goods released.

 Consumption Entry  Foreign Trade Zone Entry  Warehouse Entry (Bonded)  Transportation ( In Bond) Entry

 Owner of merchandise  Purchaser of merchandise  Custom House Broker (Licensed)

 Formal Entry ▪Value over $2000. ▪Value over $250 (trade sensitive articles e.g. textiles) ▪Exceptions (for list visit CBP website)  Informal Entry ▪Value less than $2000. ▪Value of less $250 (trade sensitive articles e.g. textiles) ▪Mail shipments (Duty Paid to Postal Employee)  Major Differences -- Formal VS Informal ▪Bond requirements ▪Liquidation process

15 Calendar Days 10 Working/Bus Days One Year Arrival Entry CF3461 Entry CF3461 Entry Summary CF7501 Entry Summary CF7501 Liquidation -No change -Additional duty -Duty refunded Step 1 Admissibility Step 1 Admissibility Step 2 Valuation Step 2 Valuation

Other Agency Requirements Marking Duty Assessment (Valuation) Classification (HTS) Accurate Transaction Documents

 Bill of Lading or Airway Bill or Carriers Certificate  Commercial or pro-forma invoice  Entry/Entry Summary CF 3461/7501 or Entry/Immediate Delivery  Packing list  Other agency document requirements (FDA, FCC, DOA, ATF, CPSC, FNS)

 Invoice typed, must clearly describe imported product.  Product in the invoice to match with the packing list that will accompany the goods.  Invoice should shows all discounts and the net price.  Avoid commingling products, use separate boxes whenever possible.  Mark goods and boxes legibly with the Country of Origin.  Itemize cost of transportation and insurance

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