Exam 16: Customs Clearance

Sometimes the "made in [country]" marking on the product is different from the country of origin for Customs duty purposes.

In the Harmonized System of classification,an incomplete or unfinished product is classified

A ____________________ is a guarantee that the importer or their representative will pay the duty due.

In most countries,the general process of clearing Customs begins with

An "assist"

A representative of the importer that has acquired the knowledge and experience required to deal effectively and efficiently with Customs is called a(n)____________________.

A time-sensitive shipment like an express package can be expedited through Customs by

A country grants or sells a right to export a set quantity of a specific good to an exporting firm.This authorization is called a ____________________.

Customs brokers are usually compensated on

Pre-shipment inspections are inspections performed by independent companies at the point of departure of goods destined to be exported.

Generally speaking,countries with scarce foreign currency resources will attempt to limit the granting of import licenses to companies that have generated export revenues and

The Harmonized System of classification is used to classify both exports and imports.

If an importer has a good reputation regarding its following of Customs regulations,the likelihood that one of its shipments is going to be inspected is minimal,therefore minimizing delays at entry and allowing the importer to organize its supply chain more predictably.This is an application of the concept of

Documentation designed to indicate what country a product initially came from is contained in the

Argentina,after being chastised by the World Trade Organization for having increased its duty rate on footwear,reduced them,and immediately reimposed them through a _____ tax designed to protect its footwear industry against foreign competition.

Most duty is collected ad valorem which means

Countries' efforts to make imports adhere to national standards are not considered to be trade barriers.

In most countries,only certified Customs brokers or Customs agents are allowed to file the paperwork necessary to clear Customs.

The deductive method of valuation is when Customs determines at what price identical or similar goods are sold within 90 days of importation in the importing country,and determines an entry value based upon "normal" mark-ups in the distribution channel.

Since the World Trade Organization has pressured importing countries to reduce tariffs,importing countries have done away with non-tariff barriers.