Responsibilities in an Export Transaction
September 16, 2013.
Trade Publications
Regulation: 15 CFR 30: Foreign Trade Regulations http://www.gpo.gov/fdsys/granule/CFR-2012-title15-vol1/CFR-2012-title15-vol1-part30/contentdetail.html When an export is being arranged from the United States it is important that all applicable export regulations are followed. Certain exports require that an Automated Exports System ...
Read MoreA Global HTS Solution
September 13, 2013.
Trade Publications
The World Customs Organization is represented by 179 customs administrations across the world and these locations represent 98% of the world’s trade. When goods are shipped internationally they must be classified for customs purposes using a Harmonized Tariff Schedule Number (HTS). Each separate product is assigned a particular...
Read MoreLiquidated Damages for ISF Non-Compliance
June 18, 2013.
Trade Publications
Introduction: While ISF regulations have been in place since January of 2009, and the enforcement period began in January of 2010, Customs and Border Protection has been pretty lenient when it comes to issuances of liquidated damages. CBP has been using a “measured and commonsense approach”1 and...
Read MoreOzone Depleting Chemicals: What an Electronics Importer Should Know
May 15, 2013.
Trade Publications
Some importers of electronics may be unaware of all of their tax liabilities. While the importer may be fully aware of what duties and taxes are normally due upon importation of goods, many don’t know of the additional excise taxes that are placed on imported electronic goods,...
Read MoreCommon Classification Mistakes
March 24, 2013.
Trade Publications
It is essential that importers exercise and demonstrate reasonable care when assigning HTS classification to parts that are being imported. Misclassifying parts can lead to increased duties and penalties. Listed below are some common mistakes all importers should avoid when it comes to classifying parts for importation. Relying...
Read MoreConflict Minerals Reporting Regulations
January 19, 2013.
Trade Publications
Is your company involved in a field that includes the manufacturing of electronics, piping, aerospace, machining tools, or any alloys used in those industries? If so, then you need to be aware of Rule 1502 recently instituted by the Securities and Exchange Commission (SEC) regarding the use of conflict minerals that...
Read MoreSuccessfully Importing Into Russia
January 11, 2013.
Trade Publications
While it is important to gain access to emerging markets, companies must ensure compliant processes are followed diligently. This problem presents itself in Russia, as many people would like to do business there, but won’t risk it, as they aren’t confident it can be done compliantly...
Read MoreInformal Entry Changes
December 01, 2012.
Trade Publications
U.S. Customs and Border Protection (CBP) has issued a final rule regarding changes to what may be considered an “informal entry.” An “informal entry” has been any shipment valued at less than $2000. Anything valued at more than $2000 is considered a “formal entry” and...
Read MoreU.S.-Panama Trade Promotion Agreement Implementation
November 15, 2012.
Trade Publications
The U.S. - Panama Trade Promotion Agreement was signed into law in October of 2011, however it was not implemented. President Barak Obama has proclaimed that it is effective as of October 31, 2012. Here is what you need to know about the U.S. – Panama...
Read MoreCustoms Recordkeeping Made Easy
November 11, 2012.
Trade Publications
Having trouble locating a specific customs record? Do you have to look through filing cabinets for old documents or travel offsite and rummage though boxes and files to find a customs entry? U.S. Customs requires that importers retain their records for a period of 5 years. This...
Read More