CAO 2 2016

Question 1

For purposes of entry and clearance of regulated importations for personal use, it shall refer to quantity for a given kind or class of articles which are in excess of what is compatible or commensurate with a person’s normal requirements for personal use.

Answer 1

Commercial Quantity

Question 2

The value of goods for which no duty or tax is collected. Goods with De Minimis Value are considered importations of negligible amount1 and entitled to immediate release.

Answer 2

De Minimis Value

Question 3

An international commercial term covered by the Incoterms rules developed by International Chamber of Commerce (ICC) which means free carrier or that the seller delivers the goods to the carrier temayor or another person nominated by the buyer at the seller’s premises or another named place. The parties are well advised to specify clearly as possible the point within the named place of delivery, as the risk passes to the buyer at that point

Answer 3

FCA

Question 4

An international commercial term covered by the Incoterms rules developed by International Chamber of Commerce (ICC) which means free on board or that the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment or procures the goods already delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel, and the buyer bears all costs from that moment onwards.

Answer 4

FOB

Question 5

Goods which are subject to regulation shall be imported only after securing the necessary goods declaration, clearances, licenses, and any other requirements, prior to importation. In case of importation, submission of requirements after arrival of the goods but prior to release from customs custody shall be allowed but only in cases provided for by governing laws or regulations.

Answer 5

Regulated Importation