This webinar will explain how to calculate the correct valuation on a product while importing from related party suppliers. Instructor will discuss how to document transactions for CBP process and to recognize valuation issues that may cause price adjustments after import. Participants will learn to avoid adverse consequences of declared valuation errors and what are the downsides to participation in reconciliation.
This webinar explains how to arrive at the correct valuation to avoid custom penalties.
Why Should You Attend:
Importers purchasing product for import from related party suppliers; or, with unusual price structuring with their supplier, encounter particular difficulty at times determining a proper value for Customs’ purposes. This is due to circumstances of the sale or post entry price adjustments. Proper declaration of value, and support for the declared value, are essential to avoid either unduly high customs imposed values or possible penalties.This webinar explains how to arrive at the correct valuation to avoid custom penalties.
Areas Covered in the Webinar:
- Accuracy of the declared value at the time of entry.
- Does the relationship with the seller create difficulties in ascertaining the price at the time of entry.
- How do I establish with CBP that the price includes all elements of value.
- Identifying and documenting post-entry alterations to value.
- Awareness of assists or other valuation issues that may be obscure.
- Retroactive price adjustments and other possible issues with payment terms.
- Obtaining necessary support for FTA claims.
Who Will Benefit:
- Import compliance professionals
- Export compliance professionals
- Trade professionals
- Procurement managers
- Logistics managers
- Supply chain managers
- In-house counsel
- Customs brokers
- All who are involved in international procurement
Course Provider
Raymond Sullivan,
