Part 1: Valuation & Appraisement of Merchandise
Valuation & Appraisement of Merchandise
•
16m
Classification is key in the customs broker exam, with appraisement of merchandise being vital for declaring values. This involves various charges beyond the invoice value, as outlined in provision of Title 19 CFR Part 152. Understanding customs terminology, including 'value' and the importance of the export date, is essential. Fair market value affects duty assessments, especially in related party transactions, and any value changes are communicated via CBP Form 29.
#Code of Federal Regulations (CFR) Title 19
#Part 152
Up Next in Valuation & Appraisement of Merchandise
-
Part 2: Valuation & Appraisement of M...
Discrepancies in quantity can influence duty calculations. Key dates and terms play a vital role in customs processes. The country of export is determined by several factors, including transshipment points. Historical colonization affects current trade dynamics, particularly in regions like Frenc...
-
Part 3: Valuation & Appraisement of M...
Legal systems differ widely, with supreme authority being a key factor. Hong Kong operates as a special economic zone, influencing its legal framework. The origin of products is based on manufacturing location and significant transformation. Currency conversion for duties relies on the export dat...
-
Part 4: Valuation & Appraisement of M...
Currency fluctuations can cause major financial losses for banks and companies. Customs procedures play a crucial role in managing shipment abandonment and duty responsibilities. Key topics include the basics of declaration, export value, and the customs appraisement process. Transaction value is...
