Honest Import Transaction Mistakes
“I think I've found an error in my Canadian import transactions, and it's my fault. What can I do?” Human error is a fact of life, and honest mistakes can happen with import documentation. No matter the nature of your business or the size of your company – no one is immune to the possibility of a slip-up.
Consolidation and Cross-docking: Two methods for improving shipping efficiency
Consolidation and cross-docking are smart practices that all shippers should consider making use of to maximize efficiencies. When incorporated into your everyday shipping routines, they can both help lower costs and improve product flow.
Chapter 5: Importing into the U.S. – Maximize your likelihood of success with U.S. Customs
The most effective approach to ensuring a smooth U.S. Customs experience is to take proactive measures and remain fully informed. With proper planning and by tapping into expert advice as needed, your company will be less likely to face customs inquiries and scrutiny – and penalties. Follow these steps to maximize.
Shipping giant Hanjin files for bankruptcy – How does this affect me?
The global economic downturn of recent years has severely affected profits across the cargo shipping industry, with Hanjin Shipping Co. the most recent casualty.
Chapter 4: Importing into the U.S. – Know Your Responsibilities
Customs brokers work with companies that import and export goods across international borders to help ease the process and reduce the possible risks associated with cross-border trade. Under the Mod Act, importers are responsible for demonstrating compliance with U.S. Customs and Border Protection (CBP) requirements –.
Chapter 3: Importing into the U.S. – Tools are available to save you time and money
There are several programs available to importers that can facilitate the importation process and save money. Although it may seem daunting if you haven’t tapped into these programs before, it is well worth making use of them as the cost savings can be substantial.
Duty Drawbacks: Don’t miss out on a chance to save money!
Do you frequently import goods, pay the duties and then re-export those goods, either as-is or incorporated into a finished product? Even if you’ve done this hundreds of times, you may not know that duties can usually be recovered on those items. Filing a duty drawback can have significant benefits – reducing your.
Ordering offshore for the first time? Here’s what you should know.
Many businesses today source offshore to take advantage of lower prices or to obtain goods unavailable in North America. The savings can be significant: sourcing from China, for example, can reduce product costs by as much as 75% - or even more (1). However, there also may be different financial requirements, export.
Chapter 2: Importing into the U.S. - Change is in the air
Regulatory changes related to border enforcement were signed into law in February of this year under the TFTEA (Trade Facilitation and Trade Enforcement Act). All indications are that enforcement at the U.S. border is on the rise already, and this trend is likely to continue.
Chapter 1: Importing into the U.S. – The “Mod Act”: Compliance and Penalties
The U.S. Customs Modernization Act (the “Mod Act”) is part of the North American Free Trade Agreement (NAFTA) Act and pertains to improving compliance and enforcement with U.S. customs laws. Among other things, the Mod Act places legal responsibilities on the importer for declaring all relevant information with.
