IMPORT COMMERCIAL INVOICE REQUIREMENTS PRESENTED BY BRENT CLAYPOOL, LCB

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1 REQUIREMENTS PRESENTED BY BRENT CLAYPOOL, LCB

2 LEGAL REQUIREMENTS With the passage of the Modernization Act, the U.S. Customs and Border Protection Agency (CBP) has required every Importer of Record to use "reasonable care" when issuing a Commercial Invoice for their imported merchandise. CBP requires a detailed Commercial Invoice from every Importer of Record to ensure proper Tariff Classification, Valuation, Import Duty Collection, plus to facilitate Automated Cargo Processing, and to obtain accurate Trade Statistics. (Reference: Code of Federal Regulations (CFR) and 142.6)

3 REQUIREMENTS ( ( identify the following information: PORT OF LADING: In the country of export, the port or place of loading of the merchandise. PORT OF ENTRY: In the country of import, the port of entry of the destined merchandise. MANUFACTURER OR THE FOREIGN FIRM WHO SOLD THE EXPORT MERCHANDISE TO THE USA: The complete name, address, and country of the Mfr. or foreign firm of the exported merchandise.

4 REQUIREMENTS - CONTINUED identify the following information: - Continued SELLER OR SHIPPER: (If different than the Foreign Manufacturer.) The complete name, address, and country of the Seller or Shipper. IMPORTER OF RECORD: The complete name, address, and country of the Importer of Record. CONSIGNEE: (If different than the Importer of Record): The complete name, address, and country

5 REQUIREMENTS - CONTINUED identify the following information: - Continued of the Consignee. MERCHANDISE DESCRIPTION: A detailed, adequate description of the imported merchandise, including its known common name. GRADE OR QUALITY: The grade or quality of the imported merchandise. MARKS, NUMBERS, & SYMBOLS: The marks,

6 REQUIREMENTS - CONTINUED identify the following information: - Continued numbers, and symbols in which the merchandise was sold and packed. QUANTITY: The quantity of imported merchandise identified in Gross and Net Kilogram Weights. UNIT AND PURCHASE PRICE (MERCHANDISE VALUES): The values of each merchandise item, and specifically, each merchandise item's unit and purchase price.

7 REQUIREMENTS - CONTINUED identify the following information: - Continued CURRENCY OF PURCHASE: The kind of currency, either Gold, Silver, or Paper. MERCHANDISE CHARGES: For the exported merchandise, all separately itemized charges by name and amount, including Freight, Insurance, Commissions, Cases, Containers, Coverings, Packing, etc.. If the required charges aren't listed on the originally prepared Import Commercial Invoice, all charges must be listed on an

8 REQUIREMENTS - CONTINUED identify the following information: - Continued attachment document to the Import Commercial Invoice. MERCHANDISE DISCOUNTS: Upon the exported merchandise, all allowable, separately itemized rebates, drawbacks, and bounties. COUNTRY OF ORIGIN: The country of manufacture of the exported merchandise.

9 REQUIREMENTS - CONTINUED identify the following information: - Continued MERCHANDISE PRODUCTION CHARGES: (Not included in the Import Commercial Invoice price, all related prices in the non-usa production of the merchandise, for example, Assists (Dies, Molds, Tools, Engineering Work). OCEAN OR AIR TRANSPORTATION: The transport method used for the exported merchandise and identification of the Ocean Carrier and Vessel Name or Air Carrier.

10 REQUIREMENTS - CONTINUED identify the following information: - Continued INVOICE DATE AND NUMBER: The prepared date and assigned number of the Import Commercial Invoice by Exporter (Manufacturer, Shipper, Seller). TERMS OF SALE: The agreed upon terms of sale between the Exporter and the Importer of Record. IN ENGLISH OR TRANSLATED INTO ENGLISH: The Import Commercial Invoice must be in the English

11 REQUIREMENTS - CONTINUED identify the following information: - Continued language, or instead, there must be an accurate English translation document attached to the Import Commercial Invoice. PACKING LIST: Accompanied with each separate Import Commercial Invoice, a detailed Packing List document must identify the imported merchandise within each individual package.

12 REQUIREMENTS - CONTINUED identify the following information: - Continued HARMONIZED TARIFF NUMBER(S): The Harmonized Tariff (Classification) Numbers (8-Digit Numbers) of each shipped merchandise item. TOTAL INVOICE AMOUNT: The total Import Commercial Invoice amount, in U.S. Dollars or converted to U.S. Dollars, must be listed. NAME AND SIGNATURE OF RESPONSIBLE INDIVIDUAL:

13 REQUIREMENTS - CONTINUED identify the following information: - Continued INDIVIDUAL: An employee of the Exporter, Manufacturer, Seller, Shipper, or Agent, who is knowledgeable of the transaction, who has their name listed on the invoice, and who has signed their name thereby certifying the accuracy of all the information listed on the Import Commercial Invoice. NUMBERING OF INVOICES AND PAGES: Per Customs and Border Protection (CBP), when more

14 REQUIREMENTS - CONTINUED identify the following information: - Continued than one invoice is included in the same entry, each invoice with its attachments (documents) must be numbered consecutively at the bottom of each page. Also, per CBP, if the invoice or invoices filed with one entry consist of more than two pages, each page must be numbered consecutively at the bottom of each page.

15 REQUIREMENTS - CONTINUED identify the following information: - Continued NUMBERING OF INVOICES AND PAGES: - CONTINUED When applicable, both the invoice number and the page number must be listed at the bottom of each page. For example: Invoice 1, page 1 Invoice 1, page 2 Invoice 2, page 3 Invoice 2, page 4

16 REQUIREMENTS - CONTINUED identify the following information: - Continued NUMBERING OF INVOICES AND PAGES: - CONTINUED (Reference: Code of Federal Regulations (CFR) (h)(1)(2)(3)) BREAKDOWN OF COMPONENT MATERIALS: Whenever the Classification or Appraisement of imported merchandise is dependent upon the Component Materials, the Import Commercial

17 REQUIREMENTS - CONTINUED identify the following information: - Continued BREAKDOWN OF COMPONENT MATERIALS: - CONTINUED Invoice must list a breakdown of the Component Materials, specifically identifying in detail the value, weight, or other necessary measurement of each Component Material to determine the correct Import Duties. (Reference: Code of Federal Regulations (CFR) )

18 PROFORMA INVOICES Per CBP regulations, when an imported merchandise shipment arrives within the U.S.A. without an Import Commercial Invoice, it's the Importer of Record's "reasonable care" responsibility to obtain a copy of the original Import Commercial Invoice from the foreign Manufacturer, Seller, or Shipper. If either because of time limitations or if the foreign Manufacturer, Seller, or Shipper don't have any of their own invoices available to the Importer of Record, CBP will allow the Importer of Record to

19 PROFORMA INVOICES - CONTINUED submit a completed, signed, and dated Proforma Invoice, in lieu of the mandatory Import Commercial Invoice. The Proforma Invoice, and other supporting documents for the imported merchandise shipment, must list descriptive information for the possible examination of the imported merchandise, the determination of estimated Import Duties, and if necessary, the reporting for statistical purposes. Per CBP regulations, for every imported

20 PROFORMA INVOICES - CONTINUED merchandise shipment in which the Importer of Record must use a Proforma Invoice instead of an Import Commercial Invoice, CBP requires the Importer of Record to file a Bond, (Customs Form 301, under Code of Federal Regulations (CFR) ), for the missing Import Commercial Invoice, on the imported merchandise shipment's Entry Summary, (Customs Form 7501). The value of the Bond must be in an amount equal to one and one-half value of the imported merchandise. Within 120 days from the date of

21 PROFORMA INVOICES - CONTINUED filing the Entry Summary, the Importer of Record must provide a copy of the imported merchandise shipment's Import Commercial Invoice to CBP. Once CBP receives the Import Commercial Invoice from the Importer of Record, the charge against the Bond will be automatically dropped. (Reference: Code of Federal Regulations (CFR) ) PROFORMA INVOICE FORM: (Reference: Code of Federal Regulations (CFR) )

22 ADDITIONAL INFORMATION INVOICES FOR SPECIAL CLASSES OF MERCHANDISE Per CBP regulations, and identified by Tariff Number within the Harmonized Tariff Schedule of the United States (HTSUS), in the importation of special classes of merchandise, the Importer of Record must provide to CBP additional information Invoices, based upon the special classes of merchandise that are listed in the Code of Federal Regulations (CFR) (a). The special classes of merchandise requiring additional information Invoices are identified as follows:

23 ADDITIONAL INFORMATION INVOICES FOR SPECIAL CLASSES OF MERCHANDISE - CONTINUED Aluminum and Alloys of Aluminum Articles manufactured of Textile Materials Bags manufactured of Plastic Sheeting Ball or Roller Bearings Beads Bed Linen and Bedspreads Chemicals Colors, Dyes, Stains and Related Products Copper, Copper Ores and Concentrates Cotton Fabrics

24 ADDITIONAL INFORMATION INVOICES FOR SPECIAL CLASSES OF MERCHANDISE - CONTINUED Cotton Raw and Cotton Waste Earthenware or Crockeryware Fish or Fish Livers Footwear Fur Products and Furs Glassware and Other Glass Products Gloves Grain or Grain and Screenings Handkerchiefs Hats or Headgear

25 ADDITIONAL INFORMATION INVOICES FOR SPECIAL CLASSES OF MERCHANDISE - CONTINUED Hosiery Iron or Steel Iron Oxide Machines, Equipment and Apparatus Machine Parts Machine Tools Madeira Embroideries Motion-Picture Films Paper Plastic Plates, Sheets, Film, Foil and Strip

26 ADDITIONAL INFORMATION INVOICES FOR SPECIAL CLASSES OF MERCHANDISE - CONTINUED Printed Matter Pulp Refrigeration Equipment Rolling Mills Rubber Products Screenings of Grains or Seeds Textile Fiber Products and Textile Articles Tires and Tubes for Tires Tobacco Watches and Watch Movements

27 ADDITIONAL INFORMATION INVOICES FOR SPECIAL CLASSES OF MERCHANDISE - CONTINUED Wearing Apparel Wood Products Wool and Hair Wool Products Woven Fabric of Man-Made Fibers Yarns

28 REQUIRED NOTATIONS ON IMPORT COMMERCIAL INVOICES Per CBP regulations, for each Import Commercial Invoice, the Importer of Record or their duly authorized Customs Broker must notate the correct Tariff Numbers and Import Duty rates next to the listed imported merchandise items, to which the Tariff Numbers apply. Also to be notated are the computed Deductions (Non-Dutiable charges) and Additions (Assists) to the Total Invoice Value, of which once finalized, the Importer of Record or their duly authorized Customs Broker will notate the correct Entered Value on each Import Commercial Invoice.

29 REQUIRED NOTATIONS ON IMPORT COMMERCIAL INVOICES - CONTINUED Per CBP regulations, the Importer of Record or their duly authorized Customs Broker must make their notations on the Import Commercial Invoice with only blue or black ink. (Reference: Code of Federal Regulations (CFR) (b)(c)(d))