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Under U.S. Customs law, there are actually five methods of valuation that must be followed sequentially when declaring a value for Customs purposes. The primary method is known as “transaction value”. Transaction value is the most common method used by companies. It is defined as the price paid or payable for the merchandise at the [...]
With all the discussion concerning the new U.S.-Korea Free Trade Agreement, I am thinking of sourcing products in Korea to take advantage of duty free treatment. What do I need to know about the trade agreement? The US-Korea FTA is only one of a number of FTA’s to which the U.S. is a party. FTA’s [...]
The TradeLaw Q&A column addresses your questions concerning the import and export regulations of the United States. When importing a product into the U.S., how can I determine how much duty I will have to pay? Determining the applicable duty rate for a product first involves obtaining the correct classification under the [...]
The TradeLaw Q&A column addresses your questions concerning the import and export regulations of the United States. When importing into the U.S., what documents am I required to present to Customs? First and foremost, it is important to have a thorough and accurate invoice for U.S. Customs purposes. This is the primary [...]
The TradeLaw Q&A column addresses your questions concerning the import and export regulations of the United States. When shipping products internationally, how do I determine the appropriate shipping terms? Incoterms 2010 provides guidance concerning shipping terms for companies who ship products internationally. They are internationally recognized and while not legally binding [...]
The TradeLaw Q&A column addresses your questions concerning the import and export regulations of the United States. Can you explain what C-TPAT is and what it involves to become a member? I have had a customer here in the U.S. ask me if I am a certified C-TPAT member. Can you explain [...]
The TradeLaw Q&A column addresses your questions concerning the import and export regulations of the United States. When importing goods into the U.S., is there a requirement that the goods be marked with the country of origin? Yes there is. 19 USC 1304 and 19 CFR Part 134 address the country [...]
The TradeLaw Q&A column addresses your questions concerning the import and export regulations of the United States. Can you explain the advantages of using a bonded warehouse or Foreign Trade Zone when importing into the U.S.? Bonded warehouses and Foreign Trade Zones both provide opportunities to companies who are looking for a [...]
The TradeLaw Q&A column addresses your questions concerning the import and export regulations of the United States. I am a small company who is thinking of expanding my product market to customers abroad. What are some of the government requirements I should consider before moving forward? Great question at a great time! [...]
The TradeLaw Q&A column addresses your questions concerning the import and export regulations of the United States. I am thinking of sourcing my product from a foreign country. I am new to importing and not sure where to begin? Sourcing products internationally can be attractive to companies for a number of [...]
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