Importing 101: Importing into the U.S. – Basic Requirements and Procedures
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Tekle Sebahtu Ph.D. http ://www.stcinternational.us [email protected]. Importing 101: Importing into the U.S. – Basic Requirements and Procedures . Import Requirements and Procedures Agenda. Getting started Role of Custom House Broker Customs Entry process - PowerPoint PPT Presentation
Transcript of Importing 101: Importing into the U.S. – Basic Requirements and Procedures
Importing 101: Importing into the U.S. – Basic Requirements and Procedures
Tekle Sebahtu Ph.D.http://www.stcinternational.us
Import Requirements and Procedures Agenda
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.
Getting Started
Company assessment – Planning, Commitment, Knowledge and Relationship.
License or a Company to import?
File entry documents yourself or hire assistance?
Get help!
Role Of Custom House Brokers 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.
What is Customs Entry?
Types of Entry
Consumption Entry
Foreign Trade Zone Entry
Warehouse Entry (Bonded)
Transportation ( In Bond) Entry
Who Can Enter Merchandise
Owner of merchandise
Purchaser of merchandise
Custom House Broker (Licensed)
Formal VS Informal Entry
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
Customs Entry Process
15 CalendarDays
10 Working/Bus Days
One Year
Arrival
EntryCF3461
Entry SummaryCF7501
Liquidation
- No change-Additional duty- Duty refunded
Step 1Admissibility
Step 2Valuation
Importer’s Responsibility Under The Mod Act (Informed Compliance)
Other Agency Requirements
Marking
Duty Assessment (Valuation)
Classification (HTS)
Accurate Transaction Documents
Documents Required to Make Entry
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)
What Importers Should Tell Their Exporters
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
Thank You for participating!
For additional information please visithttp://www.stcinternational.us
Email: [email protected]
