Ocho 3 Flashcards
Import process steps 6?
- Manufacturers or shipper delivers goods to the carrier
- Carrier files the manifest and delivers the goods
- Importer or representative files the entry documents
- CBP examines and releases the goods.
- Importer or representative files entry summary
- Liquidation when CBP accepts documentation and duty
Depending on the mode of transport. At what times should the manifest be available? Air/rail/ truck/fast
Air-4hrs prior to arrival
Rail- 2 hrs prior
Truck- 1hr prior
Fast- 30 minutes
Importer security Filing (ISF) went into effect for cargo arriving in the U.S by ocean vessel.
The info submitted improves CBP’s ability to identify high risk shipments in order to prevent smuggling and to ensure cargo safety and security
Air waybills
Bills of lading in the sea environment
Entry documents- All merchandise transported by a commercial carrier must?
Be entered within 15 calendar days of arrival into the U.S & be duty paid within 10 working days after the authorized delivery
Bonds (3)
- The principal- the party importer carri get a bond to ensure that its obligations to cbp will be paid
- The surety- usually an insurance company approved by cbp. Agrees to pay principal s obligations such as duties taxes or penalties to cbp.
- The creditor- cbp is the creditor for all cbp bonds.
Formal entry
Is supported by a bond, requires a valid importer identification number & commercial shipments over $2,500
Formal entry part 1- consumption entry (merch to be used or consumed in the U.S. 95% of all entries are Consumption entires and part 2- Transportation Entry “in bond” (immediate transportation entry [IT]) 3- warehouse entry part 4 appeasement entry
Immediate transportation entry is filed when the importer wants his or her goods transported from the port of arrival to another cbp port where she or he will then file entry it’s the most frequent.
-Transportation exportation T&E is for goods that are to be transported from the port of arrival to another U.S. port and then exported & Immediate exportation (IE) is for goods that are to be directly exported from the port of arrival (good are refused)
Informal entry
Not supported by bond
For personal shipments & commercial shipments less than $2500
General laws governing trade
Tariff act of 1930 is enforced by CBP. Trade Act of 1974 implements the generalized system of preferences (GSP). Implementation of the HTSUS.
2 Trade initiatives?
Container security initiative (CSI) and customs trade partnership against terrorism (CTPAT)
CSI
Identifies high risk containers, prescient and evaluate containers before they are shipped, use technology to prescient high risk containers to ensure that screening can be done without slowing down movement of trade
CTPAT
Voluntary gov business initiative to build cooperative relationships to strengthen and supply international supply chain and U.S. border security
