Exports: Determining Value & License Value
Did you know that the requirements for filing licensed goods in the Automated Export System (AES) recently changed? In addition to reporting the value, you are required to report license value in the AES. How to determine value and license value to ensure you avoid costly mistakes?
From Global Reach
Value vs. License Value
Value
Value is a mandatory data element in the AES. Value = selling price OR cost of goods (if not sold) + inland or domestic freight, insurance, and other charges to the U.S. seaport, airport, or land border port of export.
License Value
License value, or Licensable Value in the AES, is a conditional data element. This means if your shipment requires an export license, you must report the value designated on the export license that corresponds to the commodity being exported.
A reason that the value of a shipment can be higher than the license value is due to the inclusion of domestic freight and insurance costs. These costs are to included in the value only.
If you have questions regarding value or license value, you can contact the Trade Regulations Branch at (800)-549-0595, Option 3 or e-mail ftdregs@census.gov.
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