Question: Hello All, We are in the clinical trial business. We ship product all over the globe for clinical trial research and once the research is complete the product is shipped back to our DC in the U.S. One broker is claiming the goods as “related” on the 7501 and 2 other brokers are not. […]
QUESTION: I have a question regarding a possible related party transaction. I have a vendor in Canada that purchased an item that is returned to the US for rework. Incoterms are CPT. They are using 9801.00.1098 (I was thinking 9801.00.1012 might be more appropriate) on their CI. Our warehouse in the US set up this […]
QUESTION: Could someone please weigh in on the related party scenarios described below? Scenario 1: Blue Company, a US wholesaler, owns 50% of Red Company, a manufacturer in Mexico. Red Company is a supplier of finished goods to Blue Company. Entries involving these parties are correctly declared on the 7501 as related parties.Green Company, a […]
QUESTION: Are foreign domestic sales customers of a U.S. owned foreign entity eligible for denied party screening? The U.S. owned foreign entity is selling non-U.S. origin products domestically (in their country) and are not exporting products out of their home country. Would these foreign domestic sales be considered U.S. exports as they are […]
Question: We are the owner of goods which are stored in a third party warehouse in Canada which are routinely imported into the US. The goods are moved from the third party warehouse to the US destination, but since we are the owner of the goods, no sale takes place. The shipper on the BOL […]
Question: I work for a multinational company that has production facilities in the US and Mexico. We stage assembly components and ship them to our Maquiladora, and ship finished product (and unused components, tools, and scrap) back to the USA. My question is can the US signor of the NAFTA certificate used for export also […]
Question: How an importer/exporter is defined in a RELATED-PARTY TRANSACTION? Acme Co. has a wholly-owned US Subsidiary in England. 1.) The “Deductive Valuation Method” rather than the Transaction Valuation Method should be used for related company transactions, per the valuation reg’s. 2.) The definition of a related party includes the following: “ members of the same […]
Question: My company is importing into the United States, as a “non-resident import of record”. The CF7501 shows my company as the manufacturer through the MID in box 13. And, my company is also shown as the IOR in box 26. I believe we should show the parties as “related” in box 32 of the […]
Question: Another question on related party valuation process… here’s the scenario: Company in UK transfers stock to their distribution site in the U.S. There is no sale at the time of importation as the goods remain in UK ownership. There is no transfer to USA sister company either. UK company has non- resident IOR […]
Question: 99.9% of all my shipments are between various related companies (different tax IDs but same corporate parent). The transactions are called “sales” or “transfers.” There isn’t a “profit,” as such, on the transactions. But I understand that I need to show a profit on my international commercial invoices, correct? Does it matter how […]
Question: We are being advised that we may be able to purchase our goods from a Hong Kong company ( a sister company of sorts) at a profit from them and ship from China as normal. The Hong Kong company would purchase from China and we would purchase from the Hong Kong office. Still […]
Question: Hi everyone. I had a valuation question regarding exports from a US Company (that is a wholly owned subsidiary of a Japanese company) to the parent company in Japan. I’ve done some research and since Transaction Value wouldn’t apply here, alternative methods such as like or similar merchandise, deductive value, and computed value […]
