Part 1: Rulings
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23m
Customs rulings play a crucial role in trade compliance. Binding rulings have mandatory effect and ensure uniformity across ports, while advisory rulings offer non-binding guidance. Federal contractors must use domestic components due to government procurement policies. Vessel repairs face significant duties, especially under specific regulations. The Jones Act requires US-flagged vessels for domestic trade, increasing compliance costs. Obtaining binding rulings involves customs verification for accurate classification and marketing.
#Code of Federal Regulations (CFR) Title 19
#Part 177
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Part 6: Recordkeeping
Licensed customs brokers must keep records for five years and can only destroy them after their obligation ends. They have a duty to disclose records during audits while maintaining confidentiality. Brokers should be aware of their responsibilities and exceptions regarding record keeping. Records...