QUESTION: Regarding our ocean shipments. We have multiple orders shipping out in two containers using one 7512. Is this correct or should each container have its own 7512 for what’s inside of it? %%%%%%%%%% ANSWERS: If this in incoming, into the US, you can have multiple containers on the inbond as long as the master […]
QUESTION: Looking to the community for guidance and/or any documentation on how to develop a Customs Trade Compliance Charter with defined elements of an effective council governance body. ========== Answer: The charter should cover the risks your looking to control and manage… ===========
QUESTION: I work for an importer. Anyone have any training/slides for Account Receivable from an import perspective? =========== Answers: What exactly does accounts receivable need to know about imports…. I can possibly understand accounts payable for proof of payment and other additions to value…not clear on your goals ========== Hi. This is an interesting and […]
QUESTION: Regarding tractors of 8701.91 and Engines 8408.90: Is the kilowatts (kW) referred to in 8408 (particularly 840.90, and 8701.91 the Maximum Engine Power (horsepower) or the Advertised Engine Power (Rated)? %%%%%%%%%% ANSWERS: General rule…go with MAX…..Customs has been consistent on this approach. %%%%%%%%%% It would be the maximum power it’s capable of producing in […]
QUESTION: Can anyone please expand or offer specific guidance into how related parties are impacted by § 744.22 (MIEU Rule)? I understand the definition provided in §772 for “U.S. Person” which includes “…Any juridical person organized under the laws of the United States or any jurisdiction within the United States, including foreign branches…” We are […]
QUESTION: Looking for guidance from the trade as to how to provide individual proof of payment of an import invoice when the product was shipped under a Global PO and paid under the Global PO? What details would be provided to Customs so only the information requested is provided? %%%%%%%%%% ANSWERS: Go to your accounting […]
QUESTION: We are a small company with about $7,500,000 in export value. Certainly not a lot compared to other companies We always get spot insurance when we ship but we are trying to figure out the “tipping point” of when we should get a global policy. If you add in domestic, it’s another $7,500,000 in […]
QUESTION: Is there a standard landing cost formula? Can anyone offer an example/insights, please? ************** Answers: Landed costs are a cross-functional team effort especially in complex scenarios with multiple variables. There is no one-size-fits-all formula. Many or most of the cost line items are not within the purview of Trade Compliance. Further, in many cases […]
QUESTION: Has anyone found an official list of Hoshine’s subsidiaries and can share? %%%%%%%%%% ANSWER: I ran a D&B report and found several subsidiaries in it. However, I’m not sure that is the most efficient report that will disclose what you’re looking for. ================================================================
QUESTION: We would like feedback from the membership on options / best practices for handling retro-active price adjustments (raw material adjustments for example) for cross border transactions. Company A in the US sells metal stampings to Company B in Mexico. Company A wishes to recover steel price increases from Company B per contractual agreement. %%%%%%%%%% […]
O QUESTION: For those of you with a large global operation, how are your policies and procedures structured? Do you have a general corporate trade compliance manual and then specific country procedures? Or, does each country have their own completely separate trade compliance manual? I was thinking, one global TC manual with general principles. Then, each […]
QUESTION: Does anyone import aluminum products from China that fall under the AIM program with an import licensing requirement. If yes, please advise if the process to apply for a license is simple and an estimated time for completing the application. I have an entity falling under this licensing requirement and they are requesting additional […]
