Deringer Digest Blog

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Advantages of a Combined Customs Broker and Freight Forwarder

Posted by Jack Bender on Dec 17, 2018 5:46:40 PM

No one wants to add complexity to the business of importing and exporting goods from other countries.

So why do some businesses choose to work with one company to manage their freight forwarding and another for Customs brokerage?

The answer is they think they will pay less. 

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Topics: Customs Consulting, Freight Forwarding & Cargo Transportation

De Minimis and Valuation: Known Trade Compliance Risk Areas

Posted by Rachael Sink on Nov 6, 2018 1:00:00 PM

Known trade compliance risk areas can take many forms and often require multi-disciplined specialists to help keep you in compliance. As you know, U.S. Customs and Border Protection (CBP or Customs) is responsible for enforcing compliance at all ports of entry—and there are areas that are well-known in the trade community for being at risk for noncompliance.

De Minimis, Customs valuation, and duty rate are three known areas that receive added scrutiny from CBP. 

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Topics: Customs Consulting, International Trade Compliance & Enforcement

Questions to Ask Regarding First Sale & Multi-tiered Transactions

Posted by David Laroche on Oct 30, 2018 1:00:00 PM

The rules and regulations regarding First Sale can easily seem overwhelming. Be sure to think over the questions presented below, and how they may pertain to your business.

There are many important questions to ask yourself while dealing with First Sale inside a multi-tiered transaction. In an ever-changing world, it is essential to stay informed on how specific rules can affect your business.

As additional duties, up to 25%, are being assessed on goods from China, the question of possibly using First Sale keeps coming up as a way to mitigate duty obligations. The First Sale rule allows importers to use the price paid in an “earlier sale” as the basis for the Customs value.

While it is true, First Sale can be accepted by CBP, an importer choosing to use this valuation method must be sure that they have done their due diligence to ensure compliance. US Customs and Border Protection (CBP) actively scrutinizes imports utilizing this valuation methodology, so exercising reasonable care is paramount.

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Topics: Customs Consulting, Freight Forwarding & Cargo Transportation

How to Further Reduce International Trade Risks

Posted by Rachael Sink on Oct 23, 2018 1:00:00 PM

You've got a fantastic trade compliance program, and now you want to improve your efforts even more. You can do that! The voluntary Importer Self Assessment (ISA) program can help you to reduce international trade risks further and provide actual benefits .

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Topics: Customs Consulting, International Trade Compliance & Enforcement

When the HTS System Sends You Running for Cover

Posted by Rachael Sink on Aug 9, 2018 11:15:00 AM

You don't have to run for cover, we've got your back. Let us help you understand what an HTS is and what it means for your imports.  What is the United States Harmonized Tariff Schedule (USHTS, or HTS, and sometimes referred to as HS or Harmonized System)?

All goods imported require classifying. By classification, we mean that every product is assigned a number - that number has different sections separated by a period. Each section means something different.

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Topics: Customs Consulting, International Trade Compliance & Enforcement

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