On October 24, 2017, the Office of the US Trade Representative (USTR) announced a new initiative in which countries benefiting from the Generalized System of Preferences (GSP) will be subject…
Archives for October 2017
Demystifying the HTS
What do the numbers represent in a harmonized tariff schedule classification? Mark Hirzel explains the Harmonized Tariff Schedule and breaks down the parts of a classification. Using a simple example,…
3 Hurdles Non-Resident Importers Can Overcome
Non-resident importers of record (NRI) are those US importers without a US location. There are a few small hurdles when acting as an NRI — all of which can be…
Bi-Coastal Distribution Strategies
Distributing goods closer to your customer’s or end destination helps increase speed to market. When customers use both East and West Coasts, this strategy can save transit time and create…
The Rationale for Reconciliation
Find out how reconciliation can help provide duty savings. Some importers do not have certain data elements available at time of entry, so they choose to use reconciliation, which allows…
Choosing Transportation for a Smaller Cargo Load
Choosing transportation for a smaller cargo load can be difficult. Mark Hirzel shares some points on when to choose air over ocean, how to calculate the minimums required for each,…
DDP v. DAP Incoterms, Know Your True Shipping Costs
Knowing your Incoterms can help you more reliably project true shipping costs and establish your product pricing. Matt Parrott, Deringer’s Director of Transportation, provides insight regarding the differences between DDP…
Re-Imported Foreign Goods Could Be Duty-Free
Did you know that if an imported good is exported and then re-imported, importers may not have to pay duty again? Using the HTS classification 9801.00.10, re-imported foreign goods are…
Why You Need Cargo Insurance
The inherent financial risks associated with international shipping can be minimized by purchasing cargo insurance. As outlined in the Warsaw Act and the Carriage of Goods by Sea Act (COGSA),…
Uncertainty Prevails with Possible U.S. Withdrawal from NAFTA
The National Customs Brokers & Forwarders Association of America, Inc. (NCBFAA) issued a Question & Answer document today regarding the uncertainty surrounding the possible U.S. withdrawal from the North American Free Trade Agreement…