Demystifying Commercial Value: The Key to Successful Customs Clearance

* e-Customs Clearing
* 714-855-3556
* [email protected]
* https://ecustomsclearing.com

In this episode, we explore the concept of commercial value and its calculation for customs purposes. Commercial value represents the price paid or payable for imported goods and is reflected in the commercial invoice issued by the seller. The chosen Incoterms, which define the responsibilities and obligations of buyers and sellers in international trade, can impact the commercial value calculation. To calculate the commercial value, it is necessary to include the cost of the goods, any transport charges, and other associated costs, such as insurance, packaging, handling charges, and royalties or license fees. Customs authorities have established specific methods, with the transaction value method being the most commonly used one. Alternative methods may be used when the transaction value cannot be determined or is not credible. Importers must accurately declare the commercial value on customs documents, and customs brokers play a crucial role in ensuring the proper declaration.
#usimportbond #isfcustomsbroker #uscustomsclearing #isfentry

Video Disclaimer Here: This educational video is not linked to any US government entity.

00:22 - essential to determine the commercial value of the goods accurately
00:32 - The commercial value
1:12 - how the commercial value is calculated
1:45 - specific methods to determine the commercial value for customs purposes