First, let us discuss the term, Bill of Lading (BL). This is a document that establishes the terms of a contract between a shipper and a transportation company. It can serve as a document of title, a contract of carriage, and a receipt for goods. Different types of BL [...]
Food and Beverage importers who agree to purchase shipments of goods in the future may be putting themselves at risk of profit loss, depending on how foreign exchange rates fluctuate over time. A U.S. wine importer, who sells to domestic retailers at a set price, may [...]
Duty drawback is an international compliance program that allows for the refund of Customs duties paid on imported merchandise when the products have been subsequently exported or destroyed. This program was established in 1789 to promote exports by means of offering duty refund when imported merchandise [...]
As an importer of regulated composite wood products, you should ensure that you only purchase compliant wood commodities. You must demonstrate that you have taken reasonable precautions by obtaining bills of lading, invoices, or other comparable documents that include the written statement from the supplier or [...]
Although these two terminologies appear similar at first glance, they actually differ in meaningful ways and serve very different purposes. TIB A Temporary Importation under Bond, or TIB, is used to bring goods into U.S. commerce without payment of duty when they are not intended for [...]
A revenue ton is a unit measure used in marine transport, on which a shipment is freighted. Cargo is rated as weight or measure (W/M) depending on the commodity. Weights are based on metric tons and 1 metric ton = 1,000 Kilograms (2,205 lbs.) Measures are [...]
Theoretically, yes, provided that duty drawback requirements are satisfied. Duty drawback was established in 1789 to promote exports by means of offering duty refund when imported merchandise has been exported. Since then, the program has been modified and modernized, however, the fundamentals remain the same – [...]
In the United States, there are defined guidelines for both local and Interstate highway systems that regulate how much weight any set of axles on a motor vehicle may carry. U.S. Federal Law states that single axles are limited to 20,000 pounds and axles spaced more [...]
The Toxic Substances Control Act (TSCA) is a federal law that governs chemical substances. It was passed in 1976 and allows the United States Environmental Protection Agency (EPA) to request reporting, record-keeping and make testing requirements related to chemical substances and/or mixtures. It also grants the [...]