Question: We imported widgets into the US for $10,000 and then sold the widgets to a customer in the US for $20,000. Unfortunately, the widgets are defective and require repair. So as a courtesy to our customer we will re-export the widgets back to the manufacturer for repair. Accordingly, we will file AES. Should the […]
Question: The company I work for imports goods from Germany on a regular basis against invoices denominated in Euros. When importing the product, our customs broker uses the CBP exchange rate as of the date of export from Germany (as per regulations). When my company goes to pay the German entity, they cut a […]
Question: We imported widgets into the US from a manufacturer in Austria. We sold the widgets to a customer in the US for double. It turns out the widgets are defective and require repair. As a courtesy to our customer we are re-exporting the widgets back to the manufacturer in Austria for repair. As the […]
Question: I would like the membership’s opinion on this scenario- Parent Corporation sends inventory to wholly owned subsidiaries across the globe. Inventory is made up of components manufactured by my company as well as 3rd party purchased parts. The only cost we have in our ERP system for these components is standard cost. Standard Cost […]
Question: I have a question for the membership regarding how companies value samples that are being sent to customers at no charge, but they still require a “valid” valuation for Customs purposes on the commercial invoice. We are a semi-conductor company, so I am particularly interested in how semi-conductor companies value samples (components, evaluation boards […]
Question: Our customer sends an item to us for testing with our product. The value the customer uses is suspect to be undervalued at time of U.S. import. We use a higher value for U.S. import purposes. At time of export back to the customer, can we use the customers values so their paperwork matches […]
Question: Sales office in EU receives an order from a country outside EU and instructs their manufacturing plant in either China or India to arrange drop shipment directly to end customer. An ‘Inter-Company’ Pro-Forma Invoice (letterhead showing address of EU sales office) will be used for shipping purposes and a separate ‘sales’ Invoice will be […]
Question: Scenario: -Products are MPF free due to NAFTA qualification (US import), and duty free (US & Canadian import). -At the time of shipment, only an estimated/accrued freight cost is known. -Actual paid freight is not known until roughly 30 days after the shipment takes place, after having been billed by the carrier and payment […]
Scenario: We are importing goods from a foreign company who is owned by a legal entity in the US. In the past the foreign company provided commercial documents to us for importation into the US. Our broker used these documents to make entry. We recently discovered that we were paying the US entity […]
Can the membership please advise on the correct valuation to use for the following scenario: We are a U.S. Company who sells food product to our Canadian Company (there is an intercompany sale) but product is shipped directly to the Canadian customer who is invoiced by our Canadian Company. On the Canadian invoice we declare […]
Can the membership please advise on the correct valuation to use for the following scenario: We are a U.S. Company who sells food product to our Canadian Company (there is an intercompany sale) but product is shipped directly to the Canadian customer who is invoiced by our Canadian Company. On the Canadian invoice we declare […]
Question: Where do I start learning about it? If it has been used on existing transactions, how do I audit the transactions? Do you have a checklist for needed items when setting using first sale with your import? ==========
