Trade Publications

Liquidated Damages for ISF Non-Compliance

Posted on June 18, 2013. Category: Trade Publications

Introduction: While ISF regulations have been in place since January of 2009, and the enforcement period began in January of 2010, Customs and Border Protection has been pretty lenient when it comes to issuances of liquidated damages. CBP has been using a “measured and commonsense approach”1 and importers that have been filing have been able to avoid liquidated damages for the most part. On July 9, 2013 CBP will begin full enforcement of ISF. Liquidated damages will be issued against ISF importers and carriers for non-compliance.Parties involved: In order to have a robust and compliant ISF...

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Ozone Depleting Chemicals: What an Electronics Importer Should Know

Posted on May 15, 2013. Category: Trade Publications

Some importers of electronics may be unaware of all of their tax liabilities.  While the importer may be fully aware of what duties and taxes are normally due upon importation of goods, many don’t know of the additional excise taxes that are placed on imported electronic goods, especially those utilizing Ozone Depleting Chemicals (ODCs) during the manufacturing process. ODCs have traditionally been used in the manufacturing process for printed circuit boards. In an effort to decrease the amounts of ODC usage, “[t]he Montreal Protocol on Substances that Deplete the Ozone Layer was designed to...

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Common Classification Mistakes

Posted on March 24, 2013. Category: Trade Publications

It is essential that importers exercise and demonstrate reasonable care when assigning HTS classification to parts that are being imported.  Misclassifying parts can lead to increased duties and penalties. Listed below are some common mistakes all importers should avoid when it comes to classifying parts for importation. Relying on Brokers:  Allowing Customs brokers to assign classifications at their own discretion will lead to misclassified parts.  Since an import compliance program is only as strong as its weakest link, a broker assigning parts, without the requisite knowledge, systems, processes, oversight and measurements in place will prove problematic...

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Conflict Minerals Reporting Regulations

Posted on January 19, 2013. Category: Trade Publications

Is your company involved in a field that includes the manufacturing of electronics, piping, aerospace, machining tools, or any alloys used in those industries? If so, then you need to be aware of Rule 1502 recently instituted by the Securities and Exchange Commission (SEC) regarding the use of conflict minerals that are most commonly used in those industries.The SEC is proposing a rule (effective date November 13, 2012) to institute changes to the annual reporting requirements for companies who file reports pursuant to Sections 13(a) or 15(d) of the Securities Exchange Act of 1934. The proposed changes would require reporting standards regarding the...

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Successfully Importing Into Russia

Posted on January 11, 2013. Category: Trade Publications

While it is important to gain access to emerging markets, companies must ensure compliant processes are followed diligently. This problem presents itself in Russia, as many people would like to do business there, but won’t risk it, as they aren’t confident it can be done compliantly and without corruption. Allyn International (Allyn) has been managing imports into Russia for clients for several years, and Allyn’s processes always begin and end with compliance. This document outlines the Russian import environment and how Allyn can help your company be successful in Russia. Business Environment ...

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Informal Entry Changes

Posted on December 01, 2012. Category: Trade Publications

U.S. Customs and Border Protection (CBP) has issued a final rule regarding changes to what may be considered an “informal entry.”An “informal entry” has been any shipment valued at less than $2000. Anything valued at more than $2000 is considered a “formal entry” and requires a customs bond and a minimum merchandise processing fee (MPF) payment of $25. As of Jan. 7, 2013 the minimum value for an “informal entry” will be raised to $2500 for qualifying items. Also, any qualifying shipment valued under $2500 will be eligible to clear without a bond, in an expedited...

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U.S.-Panama Trade Promotion Agreement Implementation

Posted on November 15, 2012. Category: Trade Publications

The U.S. - Panama Trade Promotion Agreement was signed into law in October of 2011, however it was not implemented.  President Barak Obama has proclaimed that it is effective as of October 31, 2012.       Here is what you need to know about the U.S. – Panama Trade Promotion Agreement:General Note: Harmonized Tariff Schedule General Note 35 (GN 35) will contain specific information on this agreement. Originating goods:1)    Good is wholly obtained 2)    Good is produced entirely in the territory  a.    Each of the non-originating materials undergoes an...

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Customs Recordkeeping Made Easy

Posted on November 11, 2012. Category: Trade Publications

Having trouble locating a specific customs record?  Do you have to look through filing cabinets for old documents or travel offsite and rummage though boxes and files to find a customs entry?  U.S. Customs requires that importers retain their records for a period of 5 years.  This can be a daunting task.   An importer may be subject to customs penalties if a document can’t be produced.   Additionally if an importer asks their broker(s) to send them copies they may find a hefty charge associated with this request.  Allyn International’s...

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