Part 27: Valuation & Appraisement of Merchandise
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15m
Banks implement security measures, such as lien on car titles, to ensure loan repayment, highlighting the difference between possession and ownership. In consignment sales, distributors keep the title while earning a commission. Appraisal methods for imported goods include transaction value and alternatives like computed and deductive values, with the latter being crucial when buyer-seller relationships are unclear. Timely election of deductive value is essential under the 180-day rule.
#Code of Federal Regulations (CFR) Title 19
#Part 152
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September 6, 2022 CBLE Class
The class covers recordkeeping requirements, clarifies the definition of customs business, and emphasizes practical exercises for exam preparation. Entry summary instructions and the correct forms are discussed, concluding with encouragement for further study and a preview of future topics.