The Sequestration : Sanders Brokerage

The Sequestration

Posted by stevelsanders98230 on Monday, March 4, 2013 · Leave a Comment

After speaking with one of our area assistance port directors late Friday we were advised that locally the SEQUESTRATION would probably not be felt for a month or so and would mostly result in local personnel being furloughed for a day each week for a total of 2 week. What that means is that (if this political gridlock continues) there will no doubt be delays / slowdowns in all government agency activities at all ports of entry. When we say all government agencies we mean that the same furlough concept will no doubt be imposed upon all local government agencies from the Food & Drug Administration (FDA), to the U.S. Department of Agriculture inclusive of their divisions known as CBP Agriculture and the Foods Safety Inspection Services (FSIS) to the core employees of all entities with Customs (CBP), Immigration, Fish & Wildlife, Penalties and Forfeitures, Fish & Wildlife Services, and more. The hopeful silver lining for now is that it will probably take a few weeks before impacts of the Sequestration are felt or experienced by the public.

It is hopeful that our political leaders will come to a functioning and working compromise before any adverse effects are imposed upon the importing public and trade community.

For the latest press release information from Customs (CBP) regarding all aspects of the Sequestration and it impact on the trade community and the public, and CBP’s operational commitments during the Sequestration time frame, please vist the website that provides full press release details on CBP Sequestration.

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Value Information Tips

When you ship or send goods to the U.S.A., the question of "valuation" may arise. What you need to know is that the issue of how to value your goods for export to the U.S.A. are part of a very complex law in our U.S. Customs Regulations (CBP).
The U.S. valuation law is very similar to the valuation law first developed and implemented by Canada Customs. The basic bottom line concept on most imports deals with the goods being valued (appraised) at the actual transaction value. That is, the price paid or payable for the merchandise. Transaction value is commonly used in arms length (unrelated) sales where a specific relationship did not impact the price paid or payable for the goods.
The term Related means within the sale of the goods, that actual family relations are involved, or that there are mutual owners in the selling company and purchasing company. CBP feels that family relationship or mutual owners in the seller and the buyer could impact the value paid or payable for the goods..
In related sales, transaction value can still be used, provided it can be proven (via a test case) that the relationship did not impact the price paid or payable for the merchandise.
Further protocol flow of the valuation law is a bit more complex and deals with terms and concepts such as "Transaction Value of Identical or Similar Merchandise", "Computed Value", "Deductive Value", and "402f" (Customs last method of appraisement) when other valuation concepts determined.
The bottom line in this law is making sure that the U.S. Government is receiving it's full amount of duty money's and fees. Undervalued importations could result in a loss of revenue to the U.S. Government to which the government could pursue full reimbursement and penalty actions.
Please remember that declaring a proper value on your shipment for U.S. Customs purposes is a matter of law.

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