Customs Entry Reconciliation Program - Valuation Errors and Penalties
Instructor:
Raymond Sullivan
Product ID: 704815
- Duration: 60 Min
Why Should You Attend:
Importers purchasing product for import from related party suppliers; or, with unusual price structuring with their supplier, encounter particular difficulty at times determining a proper value for Customs’ purposes. This is due to circumstances of the sale or post entry price adjustments. Proper declaration of value, and support for the declared value, are essential to avoid either unduly high customs imposed values or possible penalties.
This webinar explains how to arrive at the correct valuation to avoid custom penalties.
Areas Covered in the Webinar:
- Accuracy of the declared value at the time of entry.
- Does the relationship with the seller create difficulties in ascertaining the price at the time of entry.
- How do I establish with CBP that the price includes all elements of value.
- Identifying and documenting post-entry alterations to value.
- Awareness of assists or other valuation issues that may be obscure.
- Retroactive price adjustments and other possible issues with payment terms.
- Obtaining necessary support for FTA claims.
Who Will Benefit:
- Import compliance professionals
- Export compliance professionals
- Trade professionals
- Procurement managers
- Logistics managers
- Supply chain managers
- In-house counsel
- Customs brokers
- All who are involved in international procurement
Raymond Sullivan
Principal and Founder, Law Offices of Rayond F Sullivan
Raymond F. Sullivan is an attorney with over 30 years of practice in customs law. His practice encompasses customs penalties, seizures audits and enforcement activities, as well as classification and valuation issues – including litigation of these issues. He regularly conducts evaluations of importer compliance systems and processes; and, has developed and implemented import compliance programs for a number of importers. Mr. Sullivan has written numerous articles on customs and international trade law; and, has served on Law 360’s International Trade Editorial Advisory Board.
Mr. Sullivan is a former import specialist and special agent with US Customs. He is a member of the bar in Maryland, New York and the District of Columbia; and, litigates matters before the US Court of International Trade.
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