Customs Broker Los Angeles

IMPORT AND EXPORT TERMS

Source: U.S. International Trade Administration

CIF Import Value - The c.i.f. (cost, insurance, and freight) value represents the landed value at the first port of arrival. It is "Import Charges" plus "Customs Value" and therefore excludes U.S. import duties.

Calculated Duties - The "Calculated duty" represents the estimated import duties collected. Estimated duties are calculated based on the applicable rate(s) of duty as shown in the Harmonized Tariff Schedule.

Customs Value - The Customs value is the value of imports as appraised by the U.S. Customs Service. This value is defined as the price actually paid or payable for merchandise, excluding U.S. import duties, freight, insurance, and other charges.

Domestic Exports - Domestic exports include commodities, which are grown, produced or manufactured in the United States, and commodities of foreign origin which have been changed in the United States, including U.S. Foreign Trade Zones, or which have been enhanced in value.

Dutiable Customs Value - The "dutiable value" represents, in general, the Customs value of foreign merchandise imported into the United States which is subject to duty.

FAS Export Value - The f.a.s. (free alongside ship) value is the value of exports at the U.S. port, based on the transaction price, including inland freight, insurance, and other charges. The value excludes the cost of loading the merchandise and also excludes further cost.

Foreign Exports - Foreign exports (re-exports), are commodities of foreign origin which have entered the United States for consumption or into Customs bonded warehouses or U.S. Foreign Trade Zones, and which are in substantially the same condition as when imported.

General CIF Value - The general c.i.f. (cost, insurance, and freight) value represents the landed value of the merchandise. It is computed by adding "Import Charges" to the "Customs Value" and excludes U.S. import duties.

General Customs Value - General Customs value is the value of general imports as appraised by the U.S. Customs Service. This is the price actually paid or payable for merchandise, excluding U.S. import duties, freight, insurance, and other charges.

General Import Charges - The general import charges represent the aggregate cost of all freight, insurance, and other charges (excluding U.S. import duties) incurred.

General Imports - General Imports measure the total physical arrivals of merchandise from foreign countries, whether such merchandise enters consumption channels immediately or is entered into bonded warehouses or Foreign Trade Zones under Customs custody.

Import Charges - The import charges represent the aggregate cost of all freight, insurance, and other charges (excluding U.S. import duties).

Imports for Consumption - Imports for Consumption measure the merchandise that has physically cleared Customs either entering consumption channels immediately or entering after withdrawal from bonded warehouses under Customs custody or from Foreign Trade Zones.

Landed Duty-Paid Value - Landed Duty-Paid Value is the sum of the CIF value plus calculated duties.

Total Exports - Domestic exports plus foreign exports.

Total FAS Export Value - The total f.a.s. (free alongside ship) value is the value of exports at the U.S. port, based on the transaction price, including inland freight, insurance, and other charges. This excludes the cost of loading the merchandise or further costs.