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Importers play a crucial role in the global supply chain, bringing goods from international markets into domestic economies. An essential part of this process involves completing an entry summary, a critical step in ensuring that imported goods comply with all applicable laws and regulations.
This article explores what an entry summary is and why it is a mandatory requirement for importers.
Continue reading “Understanding the Importance of Completing an Entry Summary for Importers!”According to article 35 of the Customs Law, customs clearance is defined as the set of procedures and acts, carried out before customs, related to the entry and exit of merchandise from the national territory, which depends on the different traffics ( air, sea, land) and customs regimes.
In short, customs clearance is the set of procedures used to verify and approve the entry or exit of goods. Likewise, its process is based on the declaration of certain relevant information before the corresponding customs authority.
Continue reading “What is Customs Clearance and How Does it Work?”Importers in the United States are required to use an HTS code on their imported shipments to facilitate the customs process.
For those of you asking what is HTS, it’s a number code that’s given to each imported item to identify and classify it for data, tax, and duty purposes.
But the numbers in the code all have a purpose and understanding each number of an HTS code can help importers more precisely classify their products to ensure they’re paying the correct amount of tax and duties during the import process.
Continue reading “Breaking Down an HTS Code!”
