Presentation on theme: "Tekle Sebahtu Ph.D."— 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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