REMEMBER: Reasonable care is an explicit responsibility on the part of the importer.
This is the next Reasonable Care Checklist: VALUATION
Basic Questions:
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Do you know the “price actually paid or payable” for your merchandise?
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Do you know the terms of sale?
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Whether there will be rebates, tie-ins, indirect costs, additional payments?
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Whether “assists” were provided or commissions or royalties paid?
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Are amounts actual or estimated? Are you and the supplier “related parties”?
1. Have you provided CBP with a proper declared value for your merchandise in accordance with 19 U.S.C. 1484 and 19 U.S.C. 1401a?
2. Have you obtained a CBP ruling regarding valuation of the merchandise (see 19 CFR Part 177)? Can you establish that you followed the ruling reliably? Have you brought those facts to the attention of CBP?
3. Have you consulted the CBP valuation laws and regulations, CBP Valuation Encyclopedia, CBP informed compliance publications, court cases and CBP rulings to assist you in valuing merchandise?
4. If you purchased the merchandise from a “related” seller, have you reported that fact upon entry? Have you assured that the value reported to CBP meets one of the “related party” tests?
5. Have you assured that all legally required costs or payments associated with the imported merchandise (assists, commissions, indirect payments or rebates, royalties, etc.) have been reported to CBP?
6. If you are declaring a value based upon a transaction in which you were/are not the buyer, have you substantiated that the transaction is a bona fide “sale at arm’s length” and that the merchandise was clearly destined to the United States at the time of sale?
7. If you are claiming a conditionally free or special tariff classification or provision for your merchandise (GSP, HTS Item 9802, NAFTA), have you reported the required value information and obtained the documentation necessary to support the claim?
8. Have you produced the required entry documentation and supporting information?
For more information from the CBP: A Guide for Commercial Importers
Stay-Tuned for the next Reasonable Care Checklist!!
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