Binding Ruling

By |2016-07-29T14:40:15-05:00July 29th, 2016|

A binding ruling is a written decision by CBP in response to a written request for a ruling by an importer or other party pertaining to classification, valuation or marking of merchandise.

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Bill of Lading (BoL or B/L)

By |2016-07-29T14:39:54-05:00July 29th, 2016|

A bill of lading represents receipt of goods by the carrier, and contracts between the owner of the goods and the carrier, to deliver those goods. There are primarily two types of ladings. A straight bill of lading is non-negotiable. A negotiable or shipper’s order bill of lading can be bought, sold, or traded while [...]

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Arm’s Length Transaction

By |2021-03-12T13:40:42-06:00July 29th, 2016|

A transaction in which the buyers and sellers of a product act independently and have no relationship to each other. The concept of an arm’s length transaction is to ensure that both parties in the deal are acting in their own self-interest and are not subject to any pressure or duress from the other party. [...]

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Appraised Value

By |2016-07-29T14:38:55-05:00July 29th, 2016|

All merchandise imported into the United States is subject to appraisement. The Trade Agreements Act of 1979 (the Act), codified at 19 U.S.C. 1401a, et. seq., sets forth the rules for appraisement of imported merchandise. The Act sets forth six different methods of appraisement, and their order of preference. Under the Act, the preferred method [...]

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Airway Bill

By |2016-07-29T14:38:00-05:00July 29th, 2016|

A bill of lading (shipping document), which covers both domestic and international, flights and serves as a contract for carriage. Technically, the air waybill is a non-negotiable instrument of air transport, which serves as a receipt for the shipper, indicating that the carrier has accepted the goods listed therein, and obligates it to carry the [...]

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By |2016-07-29T14:37:40-05:00July 29th, 2016|

Originating goods or materials from the territory of any party to the specific FTA that are used in the production of a good in the territory of any of the other countries in the FTA, shall be considered to originate in the territory of such other country. The rules for accumulation may vary based on [...]

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By |2016-07-29T14:37:18-05:00July 29th, 2016|

The movement of cargo from one country, through port(s), airport(s) and/or border crossing points in another country, en-route to a third country. Although transshipped cargo does not enter the commerce of the transshipment country, because it physically enters its customs territory it comes under the customs jurisdiction of the transshipment country. In Free Trade Agreements, [...]

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Transaction Value

By |2016-07-29T14:36:56-05:00July 29th, 2016|

The price actually paid or payable for merchandise.

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Tariff Item (HTS)

By |2016-07-29T14:36:35-05:00July 29th, 2016|

For the purposes of the Harmonized Tariff Schedule, and for determining a FTA Rule of Origin, the “Tariff Item” refers to the first eight digits of the HTS number (e.g. 3923.30.50”). Note: When a FTA rule requires a change at the tariff item level, the NAFTA certificate and tariff shift must be performed according to [...]

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Substantial Transformation

By |2021-03-12T13:40:42-06:00July 29th, 2016|

The point in which a good or material is substantially transformed into a new and distinct article of commerce based on a change in name, character, or use. When determining origin, CBP takes into account one or more of the following factors:  the character/name/use of the article; the nature of the article’s manufacturing process, as [...]

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