On: January 4, 2021 By: Hank Selby
The importer of record is legally responsible for identifying the proper Harmonized System (HS) classification for all goods being imported into the United States. Too many importers rely on their customs broker to make that classification for them. That can be a costly mistake.
On: December 17, 2020 By: David Noah
As you evaluate your current international trade operations and determine what is working and what needs to be improved, don’t forget to look at your partnerships with your customs broker, freight forwarder, and other logistics partners. We give you some tips about what you should look for.
On: November 23, 2020 By: John Goodrich
Before you can identify the proper Harmonized Tariff Schedule (HTS) code for your products for importing and exporting, you need to understand the General Rules of Interpretation (GRI). In addition, there are some practical steps you need to follow to improve the classification process.
On: October 26, 2020 By: John Goodrich
When determining the proper Harmonized Tariff Schedule (HTS) code for your products, it's important to refer to the General Rules of Interpretation (GRI) for guidance. Unfortunately, some people rely on one or more of these six additional GRIs that aren't part of the official rules.
On: August 26, 2020 By: David Noah
While it’s possible for companies to manually do all the work required for import-export compliance, it’s difficult. Regulations, product classifications, and denied party lists change. Fortunately there's software that makes following good compliance procedures much easier to perform.
On: April 8, 2020 By: David Noah
Too often, U.S. companies involved in importing and exporting think only in terms of U.S. dollars. But doing so increases your risks while limiting your profitability. Here are four reasons you should explore currency exchange services to help protect your international transactions.
On: February 17, 2020 By: Catherine J. Petersen
A Manufacturer’s Affidavit may be required for your exports and imports. For exports, it may be used in lieu of a certificate of origin or to satisfy a letter of credit. For imports, it may help verify goods being returned are of US-origin, have not been altered, and are duty-free.
On: January 13, 2020 By: Arnesh Roy
A Foreign Trade Zone (FTZ) is a designated areas within the United States that is legally outside of the customs territory of the United States. Goods that reside within an established FTZ haven’t yet cleared customs allowing companies to save money and make their products more competitive.
On: October 9, 2019 By: David Noah
The International Chamber of Commerce (ICC) has released the new Incoterms 2020 rules that identify the responsibilities of buyers and sellers for the delivery of goods in international trade. The terms also identify when the risk for those goods transfer from the seller to the buyer.
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