TradeLane

CBSA's Most Wanted List

Posted by Rob Moore

8/25/16 11:45 AM

CBSA most wanted

The CBSA Audit Priorities were recently released for the second half of 2016. This gets called many things “Trade Verification Priorities” or the “CBSA Audit Target List” or just “2016 Audit Priorities”. Whatever name this gets really doesn’t matter, it’s a most wanted list.

Yep, the Marshal has put out the targets they’re gunnin’ for; and if yer importin’ them into Canada yer a most wanted importer.

Ok! You can lose the John Wayne or Yosemite Sam voice now.

more

Topics: Classification

Did You Know First Sale for Export Isn't Just for Apparel?

Posted by The Tradewin Team

8/18/16 4:32 PM

081716-first-sale-for-export.pngFirst Sale for Export is a duty mitigation program that is designed to reduce the dutiable value of eligible products imported into the United States. Usually, an importer would pay a higher duty amount based on the value of goods purchased from what is known as the ‘second sale’. This is the transaction between the importer and the middleman (vendor) which usually includes the middleman’s markup. Through the First Sale for Export program, importers are able to declare value on the goods purchased on the ‘first sale’, or the transaction between the middleman and the factory. In declaring First Sale valuation, an importer is able to cut out the middleman markup and to minimize the amount of duty paid when importing goods into the United States.

This duty savings program is especially popular among the textile and apparel industries where commodities have excessive middle man markups and duty rates as high as 32%. With a large potential to save on duty, it logically follows that this industry makes up the majority of the goods declared under the First Sale program.

more

Topics: First Sale for Export

Classification - A Necessary Evil

Posted by Nick Cousino

8/11/16 1:57 PM

081116-auto.png

Accuracy of your HTS classifications is as important as ever.  Have you reviewed your current classification database? Are you aware there could be fines and penalties for incorrect tariff codes.  Coming up, Tradewin will have a two part blog series outlining the importance of accuracy, but first, a reminder of why it is so important!

HTS Classification is a necessary evil. Unfortunately, it is an evil that must be revisited often. There are various ways to approach harmonized tariff classification from doing it yourself, hiring a third party service provider, or just putting the pages up on the wall and throwing darts at it to determine which HTS Classification to use.  (While the last one is a great way to relieve the stress of classification, I personally would not recommend this method).

more

Topics: Classification

What C-TPAT and College Financial Aid Have in Common

Posted by Devin Kelley

7/27/16 1:14 PM

apply for C-TPAT

Remember back in your college days, when you had to stay on top of all your financial aid forms?

Remember how your parents would nag you about CSS and FAFSA every year when the submissions were due?

As a current college student and Tradewin intern, I am no stranger to financial aid deadlines and nagging parents – in fact, I’ve got three years of experience under my belt. Although it’s a pain to keep track of all the forms, it is important to make sure they are all filled out correctly and submitted on time. Otherwise, the College Board (or worse, the federal government!) will make life difficult.

more

Topics: Best Practices

The Cost of Non-Compliance: DDTC Increases Civil Monetary Penalties for Violations

Posted by Tondra Harvell

7/21/16 12:00 PM

ocean port

Beginning August 1, 2016, the Department of State’s Directorate of Defense Trade Controls is increasing the maximum amounts of the civil monetary penalties it assesses for violations of the of the Arms Export Control Act and the International Traffic in Arms Regulations (ITAR). 

more