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Customs Broker Exam 6-10

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All of the below are true, EXCEPT:

"Price actually paid or payable" means the total payment (whether direct or indirect, and exclusive of any charges, costs, or expenses incurred for transportation, insurance, and related services incident to the international shipment of the merchandise from the country of exportation to the place of importation in the United States) made, or to be made, for imported merchandise by the buyer to, or for the benefit of, the buyer. Reason: See the definitions in 152.102 Citation: 152.102

A U.S. importer purchased automobile tires from a manufacturer located in Seoul, South Korea. The importer paid $47,780 ex-factory. The price does not include U.S. duty (2.5 % ad valorem for the tires), MPF (.3464%), HMF (.125%), and inland freight from Seoul to the Port of Busan, South Korea ($3,075). What is the entered value?

$ 47,780 Reason: The transaction was Ex-factory, there is no duty on foreign inland freight for EX-factory type sales. EX-factory means the manufacturere simply left the product at the back door and the importer is responsible for all shipping. Citation: 152.103(a)

What is the maximum penalty that CBP may assess against any person who intentionally transacts customs business without holding a valid broker's license?

$10,000 for each transaction or violation, and in an amount not to exceed an aggregate of $30,000 for all those transactions or violations Reason: CBP can impose a fine of 10K per transaction and up to maximum of 30K for person transacting CBP business with no broker license. Citation: 111.91 (b)

Permit fee is

$100

In a transaction with Chinese supplier Rose Enterprise, the U.S. importer Thorn Incorporated agreed to pay $100,000 for the sale of widgets, shipped FOB (Free On Board) Chicago. However, Rose Enterprise owed a $20,000 debt to a third party, Flower Corporation. Thorn Incorporated agreed to pay that debt and then pay $80,000 directly to Rose Enterprise. The international shipping cost was $10,000. What is the Transaction Value of the imported widgets from China?

$100,000 Reason: What is the real value of the goods. CBP will not allow some kind of offset payments to interfere with true value of the goods. No Math needs to be done. Citation: 152.103(a)(2)

BMW USA imports a purchase of 2,500 brand new 2013 X5s invoiced at $40,000 each, ex-factory, from its affiliated parent company, BMW of Germany. BMW of Germany normally charges an additional $100 each for the X5s, however, they owed BMW USA $250,000 which was paid on a previous shipment and have deducted this from the invoice price. The related party transaction does not influence the price paid to the parent company. The seller requires the buyer not to sell or exhibit the merchandise before the model year. Invoice values are also listed in the following amounts: ocean freight $2,000, and marine insurance $1,850. What is the transaction value of the merchandise?

$100,250,000 Reason: My calculator would not go this high. So, I knocked a zero off everything when multiplying. 2500 cars x $40,000 plus 2500 x $100.00 = 100,250,000. Citation: 152.103

What is the transaction value of the shipment in the following scenario? A U.S. business located in Duluth, Minnesota contracts with a manufacturer in Korea to produce 100 electric motors at a cost of $10 per motor. The U.S. business also contracts with a design company in New York to prepare the schematics for use in the production of the motors at a cost of $5,000. Upon completion, the motors are exported from Korea to China and used in the manufacture of household vacuum cleaners at a cost of $100 per vacuum cleaner. The completed vacuum cleaners are shipped to the U.S. business and an invoice from the China manufacturer in the amount of $10,000 is included in the shipment at the time of importation.

$11,000 Reason: 1000 for electric motors and 10K for the vacuums. Citation: 152.102(a)

A U.S. importer contracts the services of a foreign company that works with aluminum to manufacture 300 aluminum windows at $40.00 per window. The manufacturer contacts the U.S. importer and asks him for some special tools to cut the aluminum profiles. The importer agrees to send $500.00 worth of tools to the manufacturer though an air carrier. The carrier charges the U.S. importer $300.00. The importer tells the manufacturer to repay him the $300.00 dollars of the carrier. A month later the U.S. importer receives the 300, cut and assembled, windows accompanied by an invoice for $12000.00 dollars. What is the. transaction value?

$12,800 Reason: Answer is 12,800. 300 windows times $40 = $12,000 + 500 assist of tools + 300 cost of transportation = 12,800. Citation: 152.103(b)

A U.S. television manufacturer contracts with a manufacturer in China to produce 500 bare printed circuit boards at a cost of $50 per board. The U.S. television manufacturer also contracts with a design company in New York to prepare the schematics for use in the production of the bare printed circuit boards at a cost of $20,000. Upon completion, the bare printed circuit boards are exported from China to Malaysia for further processing into printed circuit board assemblies for televisions at a cost of $200 per assembly. The completed printed circuit board assemblies are shipped to the U.S. television manufacturer and an invoice from the Malaysia manufacturer in the amount of $100,000 is included in the shipment at the time of importation. What is the transaction value of this shipment?

$125,000 Reason: 500 circuit boards x $50 + 500 x $200 assembly = 125K. The schematic is a design in the US and thus not an assist and not inlcuded. Citation: 152.101, 152.102(a), 152.102(a)(iv), and 152.103(f)

ABC Steel purchased carbon steel bars from a manufacturer in Ontario, Canada. ABC Steel paid $19,000, ex-factory, in Canadian dollars. The steel bars arrived at the Detroit Port of Entry via semi-tractor trailer on 5/6/2015, and the shipment was released the same day. The applicable currency exchange rate is .793021. The invoice price does not include duty at 2.9%, merchandising processing fee at .3464%, or freight charges of $1,628. What is the entered value of this shipment?

$15,067 Reason: The invoice price of $19,000 converted to U.S. dollars, using the exchange rate of .793021 equals $15067.40 for an entered value of $15067. (19000x .793021 = 15067.40) Citation: 152.103

Tonya MacDonald imported sodium nitrate from Germany, which is classified under 2834.10.10 Harmonized Tariff Schedule of the United States, at a 5.5% ad valorem duty rate and is subject to antidumping duties under antidumping order A-428-841-000. The sodium nitrate is shipped by air and formally entered at John F. Kennedy International Airport. The total value of the shipment is $8,432.00. The applicable antidumping duty cash deposit is 180.52%. What is the total amount of estimated duties and fees that should be reported on the CBP Form 7501?

$15,714.42 Add the duty rate, MPF, AD rate and multiply by the value of the shipment. .055 + .003464+ 1.8052 = 1.863664 x 8432 = 15714.42

$15,714.42 Reason: Add the duty rate, MPF, AD rate and multiply by the value of the shipment. .055 + .003464+ 1.8052 = 1.863664 x 8432 = 15714.42 Citation: $15,714.42 = $8432.00 X 5.5% = 463.76 - $8432.00 X .3464% = 29.21 - $8432.00 X 180.52% = $15,221.45 take 463.76 + 29.21 + 15,221.45 + 15714.42

Mary's Motor speedway in Buffalo, NY purchased 1 BMW car from Everything Foreign Auto dealers in London. The invoice that was prepared for the sale and the shipment of the car listed the total price paid or payable of 100,000 British pounds. The sales contract did not include an agreed upon currency exchange rate. The car was shipped by vessel from Liverpool, England on March 25, 2018 and arrived in Newark, NJ on April 3, 2018. The certified quarterly rate of exchange for the British pound on March 25, 2018 was $1.50. However, the certified quarterly rate of exchange for the pound on April 3, 2018 was $2.00. Which of the following is the value to be declared for entry purposes?

$150,000 Reason: currency conversion is based on date of export. 100,000 pounds times $1.50 = $150,000.00 Citation: 159.32

License fee is

$200

ABC Inc., purchases 10,000 glass vases from Overseas Trading Company. The wholesale price charged by overseas trading Company is $3 per vase with the following volume discounts. What is the transaction value for the vases? . 1 - 1,000 vases: full price . 1,001 - 5,000 vases: 5 % discount . 5,001 - 15,000 vases: 10% discount . 15,001 - 25,000 vases: 15% discount

$27,000 Reason: 10000 glasses x $3.00 = $30,000 minus 10% discount = $27,000 Citation: 152.103(a)(1)

ABC Inc., purchases 10,000 glass vases from Overseas Trading Company. The wholesale price charged by overseas trading Company is $3 per vase with the following volume discounts. What is the transaction value for the vases?. 1 - 1,000 vases: full price . 1,001 - 5,000 vases: 5 % discount . 5,001 - 15,000 vases: 10% discount . 15,001 - 25,000 vases: 15% discount

$27,000 Reason: 10000 glasses x $3.00 = $30,000 minus 10% discount = $27,000 Citation: 152.103(a)(1)

ABC Inc. purchases 10,000 glass vases from Overseas Trading Company. The wholesale price charged by Overseas Trading Company is $3.00 per vase with the following volume discounts: 1 - 1,000 VASES FULL PRICE 1,001 - 5,000 VASES 5% DISCOUNT 5,001 - 15,000 VASES 10% DISCOUNT 15,001 - 25,000 VASES 15% DISCOUNT ABC INC. RECEIVES THE SHIPMENT AND FINDS THAT 100 OF THE VASES ARE BROKEN. THEY CONTACT OVERSEAS TRADING COMPANY, WHO AGREES NOT TO CHARGE ABC INC. FOR THE BROKEN VASES. WHAT IS THE TRANSACTION VALUE FOR THE VASES?

$27,000 Reason: 30000 shipment but 10% discount = $27000 Citation: 152.103 (a)(1), and (a)(4)

John Henry imported seven ball bearings with integral shafts from China, which are classified under subheading 8482.10.10, Harmonized Tariff Schedule of the United States, at a 2.4% ad valorem duty rate and subject to antidumping duties. The ball bearings are shipped by air and formally entered at John F. Kennedy International Airport. The total value of the shipment is $10,455.60. The applicable antidumping duty case deposit rate is 23.89%. What are the total amount of fees and estimated duties that should be reported on the CBP Form 7501? (Note: 301, 232, 201 are not applicable)

$2785.10 Reason: Take the value of the goods times the Duty rate, MPF, AD rate. However, you muyst round up or down the actual value of the goods to get CBP answer. First add the percentages .024 + .003464 + .2389 = 266364 x 10456 = 2785.10 Citation: 152.103

$2785.10 Take the value of the goods times the Duty rate, MPF, AD rate. However, you muyst round up or down the actual value of the goods to get CBP answer. First add the percentages .024 + .003464 + .2389 = 266364 x 10456 = 2785.10

A U.S. importer purchased vacuum pumps from a manufacturer located in Parma, Italy. He paid $37,980 ex-factory. Inland freight from Parma to the port of Genoa, Italy cost $375. The price does not include U.S. duty (2.5 percent ad valorem for the vacuum pumps), MPF (.3464 percent), and HMF (.125 percent). What is the entered value?

$37,980 Reason: No Foreign Inland Freight added to an EX-WORKS transaction. So the entered value is the invoice value for this question. Citation: 152.103

WEIRD QUESTION. For merchandise entered under any temporary monthly entry program established by CBP before July 1, 1989, for the purpose of testing entry processing improvements, provided that those importations involve the same importer and exporter, the fee for processing merchandise for each day's importations at an individual port will be the lesser of the 0.3464 percent ad valorem merchandise processing fee and: (hint - see 24.23(d)(1))

$400.00 Reason: WEIRD one off question. Not the normal MPF. Also, has not been tested before. I think this one will go away. Citation: 24.23(d)(1)

A Swiss manufacturer produces 1000 gadgets at a total cost of $6000 ($6.00 per piece). A Canadian distributor then buys the entire lot for a total price of $9000 ($9.00 per piece), and has it shipped from Geneva to his warehouse in Toronto. The Canadian distributor cannot find any buyers for the goods, which end up sitting in his warehouse for over three years, thereby becoming slightly outmoded. Eventually, he manages to locate a U.S. customer who negotiates with him and finally agrees to purchase half the lot (500 pieces) at a total price of $4000 ($8.00 per piece). The U.S. customer then imports the 500 pieces, having them delivered to his premises in Chicago. There is no relationship between any of the parties mentioned, and all business is conducted at arm's length. What is the appraised value of the merchandise imported into the United States?

$4000 Reason: NO MATH on this one. Importer paid $4000.00 Citation: 152.103

Ace Auto Imports in Albany, NY purchases 3 Rolls Royce cars from Everything British Auto Dealers in London, England. The invoice, prepared for the sale and shipment of these goods, lists the total price paid or payable as 300,000 British Pounds. The cars were shipped by vessel from Liverpool, England on May 3, 2016 and arrived in Newark, New Jersey on May 10, 2016. The certified rate for the pound on May 3, 2016 was US$ 1.35. The certified rate for the pound on May 10, 2016 was US$ 1.40. The value to be declared for entry purposes would be:

$405,000 Reason: Use date of export for currency conversion. 1.35 x 3000000 pounds = 405000. Citation: 158.32

$405,000 Use date of export for currency conversion. 1.35 x 3000000 pounds = 405000. cite: 158.32

Company A imported seven ball bearings with integral shafts from Germany, which are classified under subheading 8482.10.10 HTSUS, at a 2.4 percent ad valorem duty rate and are subject to antidumping duties. The ball bearings are shipped by air and formally entered at John F. Kennedy International Airport. The total value of the shipment is $7,598.00. The applicable antidumping duty cash deposit rate is 68.89 percent. What are the total amount of fees and estimated duties that should be reported on CBP Form 7501?

$5,442.93 Reason: $7598.00 x .6889 AD rate + $7598.00 x .024 duty rate + $7598.00 x .003464 MPF = $5442.93 Citation: 152

M.O/ Travelers check/Government check for collection cont. it can't exceed

$50

Toyota USA purchased a shipment of 1,000 Solara tires from Toyota Japan for a unit price of $50 each. Toyota Japan is the parent company of Toyota USA, and the relationship does not affect the price. The U.S. importer supplied a $500 design for work necessary to manufacture the tires to the U.S. importer's specifications, free of charge, to the foreign shipper. The designs were purchased from an engineering company in the U.S. for submission to the foreign supplier. What is the unit price of the shipment?

$50 Reason: WHAT IS THE UNIT PRICE. Not total price. $50.00 and since the assist was design work from the US, it is not added to the price. Citation: 152.103(b)

he importer, Company A, imports 1,000 batteries from an unrelated overseas seller at a price of $0.50 CIF per battery. The overseas seller buys the batteries in bulk from an overseas manufacturer. Company A requires each battery to be individually wrapped in polythene with a cardboard backing for display at retail outlets in the United States. Company A provides the polythene and cardboard backing materials free of charge to the overseas seller. Company A obtains the materials from a supplier in the United States at a cost of $40 for the quantity required to wrap 1,000 batteries. The seller of the imported batteries arranges for an overseas packing company to carry out the wrapping/packing. This company charges the seller of the imported goods, $60 per 1,000 batteries for this service. The documents show that the total overseas freight and insurance costs totaled $10. What is the customs value in the United States for a shipment of 1,000 batteries?

$530 Reason: CIF measn we need to subtract insurance, freight, and certain costs from the invoice value. .50¢ CIF x 1,000 = $ 500.00 CIF, plus assist $40.00, = $540.00 - $10.00 (freight and insurance) = $530.00. the polythene and cardboard backing is packing and was provided free so it is not part of the entered value or customs value.

The importer, Company A, imports 1,000 batteries from an unrelated overseas seller at a price of $0.50 CIF per battery. The overseas seller buys the batteries in bulk from an overseas manufacturer. Company A requires each battery to be individually wrapped in polythene with a cardboard backing for display at retail outlets in the United States. Company A provides the polythene and cardboard backing materials free of charge to the overseas seller. Company A obtains the materials from a supplier in the United States at a cost of $40 for the quantity required to wrap 1,000 batteries. The seller of the imported batteries arranges for an overseas packing company to carry out the wrapping/packing. This company charges the seller of the imported goods, $60 per 1,000 batteries for this service. The documents show that the total overseas freight and insurance costs totaled $10. What is the customs value in the United States for a shipment of 1,000 batteries?

What is the amount of duties and fees for goods entered in the U.S. for a shipment with the following characteristics?+ CONTAINS SEVEN (7) 31MM BALL BEARINGS WITH INTEGRAL SHAFTS + IS MANUFACTURED BY XYZ COMPANY FROM GERMANY WITH A VALUE OF $7,598.00. + HAS AN APPLICABLE ANTI-DUMPING DUTY DEPOSIT RATE IS 68.89%, HTS 8482.10.1080 @2.4% DUTY RATE AND MPF.3464%

$5442.92 Reason: $7598 x (.6889 + .024 + .003464) = 5442.93 (ADD 68.89%) $5234.26 + (Duty 2.4%) $182.34 + (MPF .3464%) $26.31= $5442.92, Citation: 152.103

A shipment of 860 dozen scissors, manufactured in China, is invoiced at $74.77 per dozen CIF San Juan. The invoice shows an estimate of marine insurance at $0.03 per unit and an estimate of ocean freight at $6,200. The bill oflading shows the actual ocean freight to be $4,750. The insurance bill provided shows a rate of $0.005 per unit. What is the transaction value for the shipment?

$59,501 Reason: 860 (Dozen Scissors) x $74.77 = $64,302.20. minus $4750 freight, minus $51.60 = $59,501. The insurance is calculated as follows: 860 dozen scissors x 12 = 10320 units/Scissors x .005. = $51.60 for insurance. The question is not clear as to what a unit is. IS a unit one dozen or only one pair of scissors.? (I can't get any other answer unless I use one scissor as one unit) Citation: 152.105(d)(1)(2)

Top Dawg imported seven ball bearings with integral shafts from Germany, which are classified under subheading 8482.10.10, Harmonized Tariff Schedule of the United States, at a 2.4% ad valorem duty rate and subject to antidumping duties. The ball bearings are shipped by air and formally entered at John F. Kennedy International Airport. The total value of the shipment is $9,875.00. The applicable antidumping duty case deposit rate is 68.89%. What are the total amount of fees and estimated duties that should be reported on the CBP Form 7501?

$7,074.10 Duty 2.4% x $9875.00 = $237.00, MPF .003464 X $9875.00 = $34.21, ADD 68.89% x $9875.00 = $6,802.89, TOTAL $ 7074.10

A used mold was provided free of charge to a Korean manufacturer by the U.S. importer. The used mold cost the importer $75,000 prior to sending it to Korea. Because of its poor condition, the importer had it repaired for $2,500 before shipping the mold to Korea. The importer paid freight cost of $1,000 and the Korean manufacturer paid $500 import duty for the mold. What is the total value of the assist?

$78,500 Reason: 75000 cost of mold + 2500 cost to repair + 1000 transportation = 78500. The regulation (152.103(d)) does not address the duty paid by the Korean company, so that duty is not included. Citation: 152.103(d)(1)(2)

A used mold was provided free of charge to a Korean manufacturer by the U.S. importer. The used mold cost the importer $75,000. Because of its poor condition, the importer had it repaired for $2,500 before shipping the mold to Korea. The importer paid freight cost of $1,000 and the Korean manufacturer paid $500 import duty for the mold. What is the total value of the assist?

$78,500 Reason: I do not think the regs really address the duty paid by Korean Manufacturer. The definition of Assist is how much it costs the importer, not the foreign manufacturer. Since the cost was paid by the Korean manufacturer it is not part of the assist. So, 75000 + 2500 repair + 1000 transport = 78500. Citation: 152.103(d)(1) and (2)

A shipment is invoiced at $100,000. The price for the merchandise includes international shipment costs, insurance costs, customs duties, and other federal taxes. The ocean freight paid is $6,000, the insurance paid is $850, the Duty rate is 6.5%, and a Harbour Maintenance Fee and Merchandise Processing Fee are paid at .125% and .3463%, respectively. What is the Transaction Value of the shipment?

$87,079.35 Reason: $100,000 - $6,000 international freight - $850 insurance = $93150 dived by / 1.069714 = $87,079.35. (1.069714 is one plus the MPF and HMF added together) 19 USC 1401a(b)(4)(A), 19 CFR 152.102(f), 19 USC 1401a(b)(3)(B), 19 CFR 152.103(i)(2)) Citation: 152.103

A used mold was provided free of charge to a Korean manufacturer by the U.S. importer. The used mold cost the importer $85,000 prior to sending it to Korea. Because of its poor condition, the importer had it repaired for $2,500 before shipping the mold to Korea. The importer paid freight cost of $1,000 and the Korean manufacturer paid $500 import duty for the mold. What is the total value of the assist?

$88,500 Reason: 85,000 cost of the mold plus the copst of repair 2500 plus transportation cost of 1000.00 equals 88,500. Citation: 152.103(d)(1)(2)

Which of the following is the transaction value of a shipment of lithium-ion batteries with the following details?1. Invoice value of $100,000 2. Terms of sale CIF duty paid, merchandise processing fee (MPF) included 3. Air freight of $3,000 and insurance of $100 included in the invoice value of $100,000 4. The actual duty rate is 3.4% 5. The actual MPF rate is 0.3464%

$93,401 Reason: Math 100,000 - 3000 air freight - 100 insurance = 96,900 / 1.03746 = 93,401. ( 1.03746 is 1 plus 3.4% duty and .3464% MPF) Citation: 152

An importer's first shipment of 10,000 units of electrical switches was invoiced for $100,000.00. The terms of sale are Delivered Duty Paid (DDP), the duty rate is 2.7 percent, and the merchandise processing and harbor maintenance fees (MPF and HMF) are 0.3464 percent and 0.125 percent, respectively. In addition, there are non-dutiable charges (NDCs) of $4,000.00 for ocean freight, and $600.00 for insurance and an added value amount of $2,000.00 on the invoice for a mold provided to the producer by the importer at no cost. The mold will produce 50,000 units, with full value applied to the first import of the molded articles. What is the transaction value for this shipment of electrical switches?

$94,406.01 Reason: Math Yea!!! $100,000.00 invoice - 4000 freight - 600 insurance + 2000 assist = 97400 ÷ by 1.031714 (MPF .003464 + HMF .00125 + Duty of .027) = 94406. Citation: 52.102(f)

When considering test values in a related pa1ty transaction, which of the following choices does the appraising officer have?1. Previously established Customs values 2. Goods produced in the same country as the merchandise under appraisement 3. Goods expmted from the same country as the merchandise under appraisement 4. Goods exported at or about the same time as the merchandise under appraisement

(1), (2) and (4) Reason: REPEAT Q. Technically, goods exported from same country is not enough information, they would need to be exported from same country and imported to the US. Citation: 152.103(j)(2)

Requirements to be a CB

- 21 years of age - Citizen of the US - Exam 75% -Good Moral Character

Things called "entries" that are not liquidated

- IT's- Transportation type entries (in bonds) -Temporary import under bond (TIB)

Things that you DON'T pay duty on

- International Freight and insurance -Discounts take by importer -Buying commission -CBP duties and taxes - Costs for transport, construction and maintenance after import

What is needed for Sole Proprietor Permit

- License - Permit to operate at port -Office at Port Location - Proof of use of name

Dutiable Charge-Assist Categories

- Materials and parts incorporated into article -Tools, dies, mold, machines, test equipment -Articles consumed in production( gloves, glue, etc.) -Engineering, design, art, plans and sketches

Permit applications include

- Name, address, Phone #, CB license - Proof of name use -Name of responsible broker - Place of records -Employees...etc - Must pay 100 permit fee and the annual port user fee

Detention Notice must contain

- Notice and date of detention -Reason -Time to be detained -Nature of what needs to be done

What is needed for Partnership Permit

- One of the partners needs to have license - the license is issued to the partnership -Office at the port

What is needed for Corporation permit

- One officer needs license -Articles of Corp. must authorize Customs Business - Office at the port

License is not required for

- One's own account -Employee of Broker( need POA) - Marine transactions like vessel clearance -IT's (any interest) - Non-commercial entries - FTZ activities that are not clearance

What entries are liquidated?

-All consumption and drawback entries

Formula for Merchandise processing fee

.3464%

An entry must be liquidated within ____________ from date of entry. If CBP has not liquidated, it is deemed liquidated " BY Operation of Law"

1 year

For a consumption entry made on July 18, 2014, the statutory 1-year period for liquidation may be extended by a port director for a period not to exceed _________.

1 year Reason: Liquidation can be extended for periods not to exceed 1 year. Citation: 159.12(a), (e ) and (f)

Deemed liquidation, by operation of law, will occur when a warehouse entry is not liquidated within________________ from the date of final withdrawal of all merchandise covered by a warehouse entry for which liquidation is not otherwise suspended.

1 year Reason: Liquidation must be done within one year of date of entry or entry is deemed liquidated by law. (applies to Warehouse entries as well) Citation: 159.11

An entry of merchandise is made on January 23, 2017. If the entry is not liquidated within____________, it will be deemed liquidated by operation of law at the rate of duty, value, quantity, and amount of duties asserted by the importer of record.

1 year Reason: Liquidation must occur within 1 year of date of entry, unless an extension is granted. Citation: 159.11(a)

3 Misc. Issues 152.103

1. Rebates or deductions in price After import are disregarded by CBP 2. Any indirect payments are not deducted from appraised value 3. Foreign inland freight is dutiable unless it is identified separately and is handled incidental to the sale with through bill of lading

What are 5 dutiable charges

1. Selling commissions 2. Assists 3. Royalties 4. Packing cots 5. Proceeds for sales sent back to seller/exporter

How long does the Broker have to submit new employee information to Customs & Border protection?

10 Calendar days after employment for 30 consecutive days. Reason: New employee data must be submitted within 10 days after the first 30 days of employment. Citation: 111.28(b)

Customs & Border Protection (CBP) requires each broker to submit, in writing, to the director of each port, a list of names of persons currently employed by the broker at that port. In the case of a new employee, the broker must submit the written information within ______________ after the new employee has been employed by the broker for 30 consecutive days.

10 calendar days Reason: A broker must submit new employee information to CBP within the first 10 calendar days after the first 30 days of employment. It is a 40 day rule. Citation: 111.28

The license of a broker that is a corporation or association can be revoked by operation of law if it fails for__________ continuous days to have at least one officer of the corporation or association who holds a valid individual broker license.

120 Reason: Corporate License is revoked by law if you do not have a licensed broker for a 120 day period. Citation: 111.45(a), (b), 19 U.S.C. § 1641(b)(5);

A broker terminates the individually licensed broker qualifying their corporate license in Houston, Texas. The same individual also was the qualifier for their local permit. The decision is made to replace the positions vacated with two different individually licensed brokers. How long do they have to replace each individual before the license and permit are revoked by operation of law?

120 continuous days for the license qualifier and 180 continuous days for the local permit qualifier Reason: 120 days to replace a qualifying license and 180 days to replace a license at a branch office. Citation: 111.45 (a)

What is the maximum continuous period of time that a partnership, association or corporation can operate without at least one member or officer who holds a valid individual broker's license before the license is revoked by operation of law?

120 days Reason: A corporation or partnership brokerage can clear goods up to 120 days without a qualifying broker for the license. Citation: 111.45(a)(b) and 111.30(d)(4)

If a broker that is a partnership, association, or corporation fails to have at least one member or officer who holds a valid individual broker's license during any continuous period of_________, the license and any permits will be revoked by operation of law.

120 days Reason: Corporate License is revoked by law if you do not have a licensed broker for a 120 day period. Citation: 111.45(a)

How many days does a corporation or partnership have to replace a qualifying Broker license?

120 days to replace a licensed broker or the license is revoked by operation of law. (111.45 ‒ Ch. 11) Customs Brokers CFR 111 Ch. 10

Bills resulting from dishonored Automated Clearinghouse House transactions are due within _________ days of the date of the issuance of the bill.

15 Reason: IF you have insufficient funds to pay CBP through ACH CBP issues a CF29 wich must be paid within 15 days of the date issued. Citation: 24.3(e)

Bills for NSF or Bad check must be paid within

15 days

Within how many days are bills resulting from dishonored checks or dishonored Automated Clearinghouse (ACH) transactions are due?

15 days from the date of issuance Reason: If CBP receives a Hot check or not enough cash in the bank for ACH transactions, CBP sends a bill which you must pay within 15 days. Citation: 24.3 (e )

Any merchandise or baggage regularly landed, but not covered by a permit for its release, shall be allowed to remain at the place of unlading until the ____ calendar day after landing. No later than ____ calendar days after landing, the pilot or owner of the aircraft or the agent thereof shall notify CBP of any such merchandise or baggage for which entry has not been made.

15th, 20 Reason: For all unloaded merchandise, whether it arrives at a ocean pier, airport, or warehouse. The rule is the same. Goods can remain un entered for 15 calendar days and the owner of the place must report to CBP any freight un entered by the 20th day. Citation: 122.50(a)

A broker is permitted to conduct Customs business in the ports of Las Vegas, Nevada and Los Angeles, California. The licensed individual for the Los Angeles district permit leaves the brokerage. How long does the brokerage have to replace that individual before the district permit can be revoked?

180 days Citation: 111.45(b)

What chapter of the Federal Regulations (CFR) sites the basic requirements for a Customs Broker License?

19 CFR 111.11

Your client receives a CBPF 29 resulting in an increase in duties exceeding $17.50 for 100% polyester sweaters. Which of the following regulations cites this authority?

19 CFR 152.2 Reason: HTSUS Ch. 9802, Subchapter II, U.S. Note 3 (Articles Returning from Repairs), HTSUS Ch. 9802, Subchapter II, Statistical Note 2 Citation: 152.2

The triennial process consists of a status report and fee payment that must be submitted by all licensed brokers. The regulations governing this process may be found:

19 CFR § 111.30 (d)

When does CBP publish its quarterly rate?

1st Business day of each quarter for certain countries

Example of Discount taken by importer

2% off price if paid within 10 days

If the port director believes that the entered rate or value of any merchandise is too low, or if he finds that the quantity imported exceeds the entered quantity, and the estimated aggregate of the increase in duties on that entry exceeds $15, he shall promptly notify the importer on Customs Form 29, or its electronic equivalent, specifying the nature of the difference on the notice. Liquidation shall be made promptly and shall not be withheld for a period of more than ___________________ days from the date of mailing such notice unless in the judgment of the port director there are compelling reasons that would warrant such action.

20 Reason: When CBP thinks the importer owes more than $15.00. a demand for payment on CF 29 is sent to the importer, and the entry still gets liquidated not later than 20 dasy from mailing the notice. Citation: 152.2

WH operator or Master od Vessel must report unclaimed freight no later than________ after landing

20 days

A carrier has custody of in-bond merchandise coming from Mexico or Canada, for which entry has not been made. Within how many calendar days is the carrier required to notify CBP of eligible General Order merchandise?

20 days Reason: carrier must notify CBP on day 20 if no entry made for merchandise. Citation: 123.10(b)

Can get ____ extensions of 1 year at a time that can't exceed 4 years total

How many extensions can be given to extend liquidation?

3 extensions of 1 year at a time, can't exceed 4 years total (3 extensions).(159.12 ‒ Ch. 6)

The total time for which extensions of liquidation may be granted may not exceed

3 years Reason: Can give extension up to 3 years. Total time for EXTENSIONS is 3 years. Citation: 159.12(a), (e ) and (f)

CBP must make decision within _______. if not prohibited goods, importer can export if goods are cleared for some reason. Detention for IP is under a different process

30 days

Bills for duties must be paid within

30 days of bill date

Records relating to customs transactions, other than powers of attorney, must be retained by a licensed customs broker for at least ______ year(s) after the date of entry.

5 Reason: 111.23(b). Broker records must be maintained for 5 years from date of entry. Citation: 111.23 (b)

CBP must issues Detention notice within ______

5 days

For audit purposes, CBP regulations require a broker to retain entry summary documents from the date of entry. As a broker, you must keep and maintain entry summary records for ________.

5 years Reason: Must maintain records for 5 years from date of entry. Citation: 111.23(b)

In accordance with 19 C.F.R. 111.23, once revoked, how long must a licensed customs broker retain powers of attorney and letters of revocation?

5 years after the date the client ceases to be an "active client" Reason: We had students protest this question. CBP answer was D. My answer was E. record retention is different for an active client versus a POA that is revoked. See 111.23(b) You can have a different date for a revocation of a POA versus a client that becomes Non active. So, there was no correct answer. Citation: 111.23 (b)

An examinee has ________ to file an appeal of a failing grade on the Customs Broker License Examination.

60 calendar days from the date of the result letter Reason: You have 60 days from the date of the notice letter to file an appeal on the CBP broker exam. Citation: 111.13(f)

How many days does an examinee have to file an appeal of a failure to attain a passing grade on the customs broker written exam?

60 days Reason: You have 60 days to appeal a failing grade from the CBP exam. Citation: 111.13(f)

After liquidation, the importer has ___ days to request a written explanation of how the value of the imported merchandise was determined.

90 Reason: Importer can request an explanation of valuation from CBP within 90 days of liquidation when CBP changed the appraised value. Citation: 152.101(d)

How long does the importer have after liquidation to request a written explanation of how the value of the imported merchandise was determined?

90 days Reason: Importer can request a written explanation from CBP as to why CBP changed the appraised valuation. Citation: 152.101(d)

All of the following are provided directly and free of charge by the U.S. buyer of imported merchandise for use in connection with the production or sale for export to the United States of high-end bathroom cabinets. What cost do you advise the U.S. buyer NOT to include in the transaction value of the bathroom cabinets? (hint this question seems to be about assist)

A Advertising space on social media purchased by the U.S. buyer for the Chinese manufacturer to post prices and photos of the completed bathroom cabinets

How many days does a Broker have to respond to a penalty notice?

A Broker must respond within 30 days of notice of penalty. (111.92 ‒ Ch. 10)

Which statement is FALSE?

A application for a broker's license must be submitted in triplicate to the director of the port where the applicant intends to be business. Reason: Application for CB license is submitted in duplicate not triplicate. CBP gave credit for answer D as well. Citation: 111.12

Which is NOT required to be in the triennial status report for an individual broker?

A broker's license number Reason: WOW. Who knew this one. So, there is no need to have your CBP license number on a Tri Annual status report according to the regs. Weird question... Citation: 111.30(d)

When a broker is employed for the transaction of customs business by an unlicensed person, who is not the actual importer, the broker must transmit ________.

A copy of the importer's bill for services rendered or a copy of the entry A broker must submit his bill to the importer not the freight forwarder when he is hired by someone who is not the importer... Note that the importer can waive this issue. (No I do not want to see the bill) Citation: 111.36(a)

Who can apply for a National Permit?

A customs licensed broker Reason: A broker can apply for a National Permit. Wording is a little weird. Citation: 111.19(f)

Which of the following statements is TRUE?

A licensed broker who is the President of a customs brokerage must exercise responsible supervision and control over his company's transaction of customs business. Reason: An officer of a corporation who is a licensed broker has a duty to exerfcise responsible supervision and control over the company. Citation: 111.28(c )

The foreign commercial invoice before you shows a value of $7200 with an addition of $800 for distributor fee, or a total invoice value of $8000. The nature of the fee charged by the seller was to compensate the exclusive U. S. distributor who, by agreement with the foreign seller, receives 10% of all sales in the U. S. as a commission. They receive this regardless of whether or not they actually make the sale. What is the $800?

A selling commission to be added to the price actually paid or payable D or E 152.103(b)(1)(ii) A smart student discovered this question as a repeat from 2007. CBP considers the 800 to be a selling commission to be included as a dutiable charge. I think since the money was paid to the foreign seller, not separately to the US distributor, it is going to be included as a selling commission. Citation: 152.103(b)(ii)

A foreign commercial invoice reports a value of $7200 with an addition of $800 for "distributor fee", or a total invoice value of $8000. The nature of the fee charged by the seller was to compensate the exclusive U.S. distributor who, by agreement with the foreign seller, receives 10% of all sales in the U.S. as a commission. The distributor receives this regardless of whether or not they actually make the sale. The $800 would be: (two correct answers per CBP)

A selling commission to be added to the price actually paid or payable Reason: A selling commission is a dutiable charge added to the price paid. CBP gave credit for E as well. Citation: 152.103(b)(ii)

ABC Brokers has authorized its unlicensed employee, Joe, to sign Customs documents on its behalf, and has executed a valid Power of Attorney for this purpose. Which of the following correctly reflects Joe's legal authority to sign documents?

ABC Brokers, upon request from Customs, must furnish proof of the existence of the Power of Attorney so that Joe can sign legally for ABC Brokers. Reason: 111.2(a)(2)(ii)(A)(l). Must have a POA for brokers employees to sign CBP documents. Citation: 111.2(a)(2)(ii)(A)(l).

ABC Brokers has authorized its unlicensed employee Joe to sign Customs documents on its behalf and has executed a valid Power of Attorney for this purpose. Which of the following reflects Joe's legal authority to sign documents?

ABC Brokers, upon request from Customs, must furnish proof of the existence of the Power of Attorney. Reason: IF a Broker has employees who execute Customs Business for the broker, there must be a POA from Broker to employee. Broker must keep the POA at his office and furnish to CBP if requested. Citation: 111.2(a)(2)(ii)(A)(1)

ACME, a U.S. Company, purchases 100 machines from a company in Japan. ACME will make an initial down payment for the machines. Once the machines are made, ACME will make another payment. The Japanese company ships the machines to the United States on a Free on Board (FOB) basis. Once the goods are entered into the United States, ACME will make another payment to the Japanese company. What charges would NOT be included in the dutiable value of the machines?

ACME hires its sister company in Boise, Idaho and pays them to develop design plans and technical know-how and to furnish them to the Japanese company free of charge for making the machines more efficient. Reason: An assist question. Remember engineering or design work done in the US is not a dutibale assist. Citation: 152.102(a)(iv)

Customs Business meaning

Activities involving transactions with CBP such as entry, classification, valuation, payment of duties taxes and fees, DB, preparation of documents to be transmitted to CBP

Which of the following is NOT an element of the computed value of apparel from Costa Rica?

An amount for profit and general expenses equal to that usually reflected in sales of all apparel in the United States. Reason: Computed value is rarely tested. See our outline at the back of ch 9. Profit and expenses of sales in the US is not part of computed value. Citation: 152.106(a)(2)

Which of the following timeframes is INCORRECT?

An appeal of a failing grade on the Customs Broker Exam must be submitted within 30 working days after the date printed on the results notification letter Reason: An appeal must be submitted within 60 calendar days after the date printed on the notice letter. Citation: 111.13(f)

How long does CBP have to liquidate an entry?

An entry must be Liquidated w/i 1 year from date of entry, if CBP has not liquidated, the entry is liquidated "By Operation of Law". (159.11 ‒ Ch. 6) Liquidation and Currency Conversion CFR 159 Ch. 6

Andrew Balder, an employee of PM Morris Customs Brokerage (MCB), decides to import dual color lapel men's dress jackets to take advantage of the exploding popularity. One of the clients of MCB regularly imports comparable dress jackets and has outstanding sales. Which of the following statements is CORRECT?

Andrew Balder must notify the client of MCB that they are also going to import dual color lapel men's dress jackets. Citation: 111.31(c)

What happens to damaged goods at time of import?

Any goods found to be partially damaged at the time of importation shall be appraised in the condition as imported, with an allowance made in the value to extent of the damage

Which of the following are NOT considered "Related Persons" when determining the transaction value of related parties?

Any person directly owning two percent of the shares of an organization and that organization Reason: I think the regs require a 5% share ownership or controlling interest. So, 2 % would not be considered a related party transaction. Citation: 152.102(g)

Which of the following individuals is NOT considered when determining a related party transaction, as defined in the Tariff Act of 1930?

Any person, directly or indirectly, owning, controlling or holding with power to vote, less-than four percent of the outstanding voting stock or shares of any organization and such organization. Reason: it is not 4% ownership / controlling interest. It is 5%... Citation: 152.102(g) definitions

A U.S. importer and a foreign manufacturer enter into a contract for 500 wooden tables. In the contract, the manufacturer agrees to provide 500 tables at a price of $500 per table. The tables are to be delivered in lots of 100 tables on the first of each month for a period of five months. The importer provided the foreign manufacturer with an assist in the form of special tools. The tools were purchased from an unrelated party in Chicago, and delivered for free to the manufacturer abroad. The tools have a useful life of 500 tables. Several weeks later, the first shipment under the contract, which contains the first 100 tables, arrives in the United States. Which of the following methods of apportioning the assist is NOT acceptable?

Apportion the entire value of the assist to the second 100-table shipment when it arrives Reason: appotioning the entire value to the second shipment is NOT an acceptable method for reporting an Assist to CBP. Citation: 152.103(e )(1)

When merchandise is withdrawn from a bonded warehouse, how long must the records relating to the withdrawal be retained?

At least 5 years from the date of withdrawal of the last merchandise withdrawn under the entry Reason: Technically not from 163 but Warehouse records must be kept for 5 years from date of last withdraw. Citation: 111.23

How often should brokers advise their active clients of their rights to pay duties, taxes, and fees directly to CBP, in writing?

At least once within each 12-month period Reason: CBP gave credit for answers B and C. A Broker must advise their active clients that the client can pay Duties and fees to CBP directly at least once within each 12 month period. Citation: 111.29(b)(2)(i) & (ii)

When is an informal entry liquidated?

At the time of payment of duty or fees to the CBP cashier, or time of release if it is duty free. (159.9 ‒ Ch. 6) Liquidation and Currency Conversion CFR 159 Ch. 6

John Henry, who is a licensed customs broker, presently has a permit in the port of Chicago. He would like to obtain a national permit. John has identified to CBP the following information: License number and date of issuance; Address and telephone number of the office designated as the office of record; Set forth the name, broker, license number, office address and telephone number of the individual broker who will exercise responsible supervision and control In order for John Henry to obtain his national permit, what other function would be required?

Attached a receipt of payment Reason: To get a National Permit, you actually pay the fee at the port which issued your original license. That receipt is then sent to CBP HQ for the national permit Citation: 111.19(f)

A Merchandise Processing Fee (MPF) is exempt for originating goods from which Free Trade Agreement listed below?

Australia AUFTA Reason: See MPF chart in our resources. And 24.23(c )(8). No MPF for Australia FTA qualifying goods. Citation: 24.23(c) (8)

Big Boss Customs Brokers (BBCB., a licensed broker, decides to import sunglasses (9004.10.0000) to cash-in on the big tourist business in the area. One of their clients regularly imports similar items. Which of the following statements is correct?

BBCB must notify their client that they are also going to import sunglasses. Reason: 111.31(c) A broker must notify his client if the broker desires to import the same goods as his client. Citation: 111.31(c )

Which of the following is a requirement for an individual customs broker license?

Be 21 years of age Reason: Must be 21 years old to get the CB license. Citation: 111.11(a)

Your client is importing a used aircraft engine manufactured in England from a Canadian shipper. Your client has accepted the aircraft engine on consignment and has promised to find a US buyer for the engine. Your client will receive a commission on the sale of 5%. The asking price for the engine is $90,000. The shipper paid all of the transportation costs ($1,000) from its dock to your client's dock on a through bill of lading. What is the entered value of the used aircraft engine?

Because transaction value cannot be used on a consignment shipment, the entered value of the aircraft engine cannot be determined under transaction value and one of the other bases of appraisement must be applied. Reason: 152.103 No transaction value when the deal is a consignment. Citation: 152.103

A broker receives his license through the port of Miami. The broker has a district permit in Miami. The broker ceases transacting customs business in Miami, and opens his business in the district of Tampa. Which one is INCORRECT?

Broker applies and pays for National permit through the port of Tampa. Reason: Because he received his original license in Miami, that is the port he must use to get a new national permit. Not Tampa. Citation: 111.19(c)

How long must a Broker keep records?

CBP Broker records must be maintained for 5 years from date of entry or creation of record. (111.23 ‒ Ch. 10)

When are Broker tri annual status reports due?

CBP Broker status report must be filed by February 1st every 3 years. (next one is due 2021) If not filed by March 1st, the license is

A __________ must be presented to CBP to receive a CBP-Assigned Importer identification number.

CBP Form 5106 Reason: CF 5106 is the form to get an importer ID number from CBP. Yes, it is filed electronically. Citation: 24.5(c )

If the country is to listed for Currency Conversion________

CBP uses all available information

You are using transaction value of merchandise that is identical or similar in nature, but varies in price. Which of the following can be used to adjust for these differences when the merchandise is being appraised?

Commercial level & Quantity Reason: 152.104(d) Importer can make an adjustment for quality and commercial level when using Identical and similar merchandise valuation. Citation: 152.104(d)

Which of the following is NOT an acceptable basis of appraisement for imported merchandise?

Contract value Reason: There is no such thing as contract value. Citation: 152.101

Which of the following is NOT "Customs Business" as defined in the Code of Federal Regulations?

Corporate compliance activity Reason: Corporate compliance activity is not Customs business Citation: 111.1 definitions

Which of the following is NOT "Customs Business" as defined in the Code of Federal Regulations?

Corporate compliance activity Reason: Corporate compliance is specifically excluded from the definition of "Customs Business" Citation: 111.1

Which of the following is NOT "Customs Business" as defined in the Code of Federal Regulations?

Corporate compliance activity Reason: Customs Business is a definition in 111.1. Corporate compliance is not Customs Business. You can do corporate compliance without a broker license. You should know this and be aware of the definition for reasonable supervision. Citation: 111.1

Which of the following is NOT "Customs Business" as defined in the Code of Federal Regulations?

Corporate compliance activity Reason: Need to be aware of the definition of Customs Business in 111.1 Citation: 111.1

How to value assist if Made

Cost of Production

What does CIF stand for

Costs, Insurance, and Freight

What date is used for currency conversion?

Currency conversion rate is based on date of export. If export date falls on Sat./Sun./Holiday ‒ use previous business day. (159.31 ‒ Ch. 6)

Within how many days must new employee info be provided to CBP?

Customs Broker employee info must be provided to CBP within 10 calendar days after the first 30 day period of employment. (111.28 ‒ Ch. 10)

If the actual rate changes 5% from the quarterly rate_____

Customs will issue a "Daily Rate"

You, the broker, decide to open an office at a port within a district for which you already have a permit. Which of the following information about your employees do you NOT need to submit to the Port Director in that district prior to transacting business?

Date and place of broker exam Reason: Date and place of broker exam have nothing to do with employee information reported to CBP. Citation: 111.28(b)

A licensed broker is preparing an entry using a foreign manufacturer's invoice that shows only foreign currency. The importer stated they did not have an agreement prior to exportation concerning the currency conversion rate. Which date should the broker use to determine the rate of exchange for calculation of the entered value?

Date of export Reason: Date of export is the date used to convert currency for transactions in foreign currencies. Citation: 159.32

If the commercial invoice is in a foreign currency, the foreign currency shall be converted to U.S. dollars using the proclaimed rate or certified rate or rates effective on the ___________ .

Date of exportation Reason: Currency conversion is based on date of export Citation: 159.32

What does DDP stand for? (acramin)

Delivered Duty Paid

How to value assist if used

Depreciated cost

Which of the following is not an assist, and should not be included in entered value?

Design work created by the US importer domestically and supplied free of charge to the manufacturer Reason: Design and engineering work done in the US is not dutiable as an assist. Citation: 152.102(a)(iv)

Which of the below time frame is INCORRECT?

Each broker must file a written status report with Customs on February 1, 1985, Reason: Triannual or Trienial status report is due every 3 years not every year. Citation: 111.30(d)

When must a Licensed Customs Broker file a written status report with CBP?

February 1, 2015, and February 1, 2018 Reason: Due by Feb 1 2018, 2021 etc. Every three years. Citation: 111.30(d)

A broker hires an employee on a full-time basis on March 1, 2012. The employee was working at the brokerage on a part-time basis since January 1, 201 l. By which date is the broker required to inform the Port Director of this new employee?

February 10, 2011 Reason: Broker must tell CBP of new employee within 10 days of the first 30 days of employment Citation: 111.28(b)(1)(ii)

What is the deadline for a Licensed Customs Broker to file a status report?

February 1st of each third year Reason: Tri Annual Status report is due on February 1st every third year.2018, 2021, Citation: 111.30(d)(1)

What to do with Shortage or Missing Merchandise

File CF 5931 at time of entry and pay on actual goods

You must be licensed to conduct "customs business." Which of the following activities requires a license?

Filing a warehouse entry with CBP on behalf of an importer Reason: filing an entry for another person is Customs Business and requires a license Citation: 111.2

How long must a Broker retain a revoked Powers of Attorney to be retained by a broker?

For 5 years after the date of revocation Reason: Broker must retain revoked POA for 5 years after date of revocation. Basic rule is to keep record for 5 years from date of entry. Citation: 111.23

Which of the following statements concerning customs valuation is FALSE? (Hint pay attention to the form numbers)

If the Center director believes that the entered rate or value of any merchandise is too low, or if he finds that the quantity imported exceeds the entered quantity, and the estimated aggregate of the increase in duties on that entry exceeds $15, he shall promptly notify the importer on Customs Form 28. Reason: CF 29 not a CF 28. Citation: 152.2

When must an individual broker who is a qualifying member of a partnership provide written notice to the Assistant Commissioner of CBP, with copies of the written notice to the director of each port through which a permit has been granted, that his or her employment as a qualifying member has been terminated?

Immediately Reason: a qualifying broker must tell CBP immediately upon his departure from the company he works with. Citation: 111.28(c )

Which statement is FALSE?

Imported merchandise may be appraised on the basis of arbitrary or fictitious values. Reason: You can never use arbitrary or ficticious values for CBP valuation!!! Citation: 152.108

Which statement is TRUE?

Imported merchandise may not be appraised on the basis of the price of merchandise in the domestic market of the country of exportation. 152.108

Which statement is true?

Imported merchandise may not be appraised on the basis of, the price of merchandise in the domestic market of the country of exportation. a.m. to 4:30 a.m. in all time zones. Reason: Cannot use price of goods in foreign country as basis for dutiable value of imported goods... Citation: 152.108(c )

Seller S offers the following quantity discounts on the goods purchased by the importer prior to their importation. - 1 to 49 units - no discount - 50 to 99 units - 5% discount - Over 100 units - 10% discount In the first case, importer A purchases and imports 60 units in a single shipment. The invoice price reflects a 5% discount. In the second case, importer B purchases 60 units in a single transaction at a price which reflects a 5% discount but imports them in 3 separate shipments each comprising 20 units. What is the customs value of the imported merchandise in both cases?

In both cases, the customs value is the price actually paid or payable for the imported goods reflecting a 5% discount. Reason: CBP value or entered value is price with a discount for the bulk purchase. Citation: 152.103(a)(1)

What statement is FALSE?

In order for a corporation to qualify for a broker's license all officers must be a broker Reason: Only one officer of a corporation needs to be a broker to get a corporate license. Only one partner for a partnership. Citation: 111.11(c )(2)

Payment of an annual user fee of $138 is required for each permit and the user fee must be paid by the due date as published annually in which of the following:

In the Federal Register Reason: Apparently the actual due date for annual user fees is published in the Federal Register Citation: 111.96(c )

Transaction value, the price actually paid or payable for the imported merchandise sold for exportation to the United States, includes all of the following EXCEPT:

International freight and insurance Reason: See our cheat sheet at the back of chapter 9. Transaction Value does not include International Freight and Insurance, those are non dutiable. Citation: 152.103(b)

Licensed broker Larry receives a Pre-Penalty Notice from the local CBP Fines, Penalties, and Forfeitures Officer (FPFO) informing him that CBP is contemplating issuance of a $10,000 penalty against him for failing to exercise responsible supervision and control over Customs business which he has transacted. Larry files a timely response to the Pre-Penalty Notice with the FPFO claiming that the violation did not occur. After reviewing Larry's response, the FPFO may not do which of the following:

Issue a Notice of Penalty in the amount of $30,000 against Larry Reason: 111.92(b) When a pre-penalty notice of fine is issued against a broker, the broker may respond in writing. CBP may cancel the fine, impose a lower fine, or impose the same fine, but can not raise the fine. Citation: 111.92(b)

What is the due date for a broker to submit the Status Report?

It is due on February 1, 1985, and on February 1 of each third year after that Reason: Status reports are due on or before February 1st every third year since 1985. 2018, 2021, etc Citation: 111.30(d)(1)

Jeremy is an unlicensed employee of Universal Customs House Brokerage (UCHB), a licensed entity. UCHB executed a Power of Attorney (POA) that provides Jeremy with authority to sign documents pertaining to customs business on its behalf. Which of the following correctly reflects Jeremy's authority to sign customs documents?

Jeremy may sign UCHB's documents pertaining to customs business; however, UCHB, upon the request from Customs, must furnish proof of the existence of the POA executed with Jeremy. have a permit, a copy of the POA executed with Jeremy. Reason: An employee of a broker may sign documents on behalf of the broker if the broker has signed a POA granting the employee authority to sign docs on behalf of the business. And the POA must be furnished to CBP if requested. Citation: 111.2(a)(2)(ii)(A)(1)

ABC Brokers would like to authorize its unlicensed employee, Joe, to sign customs documents on its behalf and has executed a valid power of attorney for this purpose. Which of the following is a correct statement related to signing customs documents?

Joe can sign the customs documents, but ABC Brokers, upon request from CBP, must be able to furnish proof of the existence of the power of attorney. Reason: A Customs Broker must give POA to his employees to sign Customs documents on behalf of the business. This employee POA must be kept at the business and available if CBP wants to see it. Citation: 111.2(a)(2)(ii)(A)(1)

John Henry received a license through the port of Duluth, MN (3604). John Henry also has a local permit for the port of Duluth, MN (3604). John Henry is now looking to move his business to the port of Minneapolis, MN (3501). Which of the following is the correct course of action for John Henry to take? (Hint: need Port Codes to answer question)

John Henry should apply for a National permit and pay in Duluth, MN. D is the correct answer. You cannot answer this question without the Port Codes in the back of the HTS. The Port of Duluth is in a different service port than Minneapolis. His license and permit are through the port of Duluth. In order to enter goods in Minneapolis he needs a permit there, or a national permit. So, best answer is to get a national permit, which is paid for at the port of your original license. Citation: Port Code annex

Which of the following has a Merchandise Processing Fee (MPF) requirement?

Jordan FTA Reason: See the MPF chart in resources. Or see the FTA Trade Program table in our resources. Jordan FTA pays the MPF... Citation: 24.23(c )

if CBP does not actively liquidate an entry made on July 18, 2014, by __________, it will be deemed liquidated by operation of law on said date. (Note that CBP did not give a one year option, so what is the total time available for liquidation??)

July 18, 2018 Reason: Notice CBP does not give a one year answer, so, 4 years is the best choice. Citation: 159.12(a), (e ) and (f)

A broker must submit new employee information to CBP within 10 calendar days after the broker has employed a new employee for 30 consecutive days. Which of the following data elements is NOT a requirement in this notification?

Last three prior home addresses Reason: last three home addresses is not a required piece of information for new employee Citation: 111.28(b)(1)(i)

How to value assist if Leased

Lease Price

What action shall CBP take with regard to entries covering merchandise that is possibly prohibited by the Federal Food, Drug, and Cosmetic Act or the Federal Insecticide, Fungicide, and Rodenticide Act or the Federal Hazardous Substances Act before it is admitted into the United States?

Liquidation shall be suspended. Citation: 159.55(a)

What factor is NOT considered by Customs when measuring if a brokerage is exercising proper supervision and control?

Location of where records are stored and size of office Reason: A broker must exercise reasonable supervision and control over his office. One thing CBP does not consider for this is where records are stored and the actual size of an office. Citation: 111.1

Which of the following is NOT a method of control for the unlading and measurement of petroleum and petroleum products imported in bulk by vessel, truck, railroad car, pipeline, or other carrier?

Manufacturer Affidavit Reason: A manufacturer's Affidavit is not an aceptable method measuring petro products by bulk. And, be aware there are business that measure these types of imports, called Commercial Gaugers. Citation: 151.42(a)

Which of the following is not an assist?

Merchandise consumed in the production of the imported merchandise supplied directly and free of charge by the seller of the imported merchandise Reason: notice it is supplied by the seller, not the importer or US buyer, Citation: 152.102(a)(1)

If a Broker receives money for a client, how many days after receipt must the money be given to client?

Money must be given to a client within 60 calendar days of receipt.(111.29 ‒ Ch. 10) Customs Brokers CFR 111 Ch. 10

Which of the following will not provide for revocation of the broker's permit?

Neglecting to advise CBP of the replacement permit qualifier within 120 days of loss Reason: A permit is different than the license. A Permit gets revoked after 180 days if there is no broker to support the permit. The license gets revoked after 120 days if there is no broker to support it. Citation: 111.45

Within how many days of terminating an employee must notice be given to CBP?

Notice must be given to CBP within 30 days of termination.(111.28 ‒ Ch. 10)

Pursuant to a broker's requirement to exercise due diligence, what written notification must be on, or attached to, any power of attorney provided by the broker to an active client?

Notification that payment to the broker will not relieve the importer of liability of customs charges in the event the charges are not paid by the broker. same general character as his client. Reason: A broker must inform a client that payment of duty to the broker does not relieve the importer of liability for duties and fees if broker does not pay CBP. Citation: 111.29(b)(1)

ABC Brokers, Inc. legally changed its name to Zumba Brokers, Inc. Before doing Customs business under the new name, the broker must submit evidence of his authority to use the new name to which of the following offices?

Office of International Trade Reason: Must submit authority for use of new name to the CBP office of international trade. Citation: 111.30(c )

An importer provides a machine to a manufacturer free of charge, for use in the production of imported merchandise. The machine cost was $50,000 and the cost for transporting the machine to the manufacturing facility was $4,500. Which declaration would be appropriate for the entered value of the machinery?

On the first shipment, declare $54,500, the value of the machine plus the cost of transporting the machine to the place of production. Reason: How do we pay duty on an assist??/ One acceptable method is to declare the full value of the assist plus transportation costs, on the first entry involving the assist Citation: 152.103

When considering test values in a related party transaction, the appraising officer must have:1) Goods exported from the same country as the merchandise under appraisement. 2) Goods exported at or about the same time as the merchandise under appraisement. 3) Goods produced in the same country as the merchandise under appraisement. 4) Previously established customs values.

Only (2), (3), and (4) above Reason: Repeat Q. Citation: 152.103(j)(2)(i)

Which of the following is NOT a true statement concerning Power of Attorney (POA)?

POA must be retained until revoked. Letters of Revocation must be retained for 3 years after the date of revocation or 2 years after the date the client ceases to be an active client. Reason: Long question over POA's. These documents must be retained for 5 years. So, answer "D" for three years is false. Citation: 111.23(b)

After a new employee has been employed by the broker for 30 consecutive days, the Broker has 10 calendar days to provide CBP with all of the following information, EXCEPT:

Passport number Reason: Broker must provides lots of employee data to CBP but a passport humber is not one of the requirements. Citation: 111.28

When a complaint or charge against a broker is investigated, who determines if there is sufficient basis to recommend that charges be referred against that broker?

Port director The PD RECOMMENDS to the commissioner, If there is enough basis. Commissioner actually makes final decision to file against the broker. Citation: 111.56

John Doe took the Customs broker license exam in April 2009 at the Port of New York, and subsequently obtained his license through the Port of Miami in October 2010. One month later, John was hired by Unknown Customs Brokers ("Unknown"), a national company employing 9 other licensed brokers. Unknown possesses a corporate broker's license. In August 2012, while perusing old Customs Bulletin notices, John realizes that Unknown did not file John's triennially-due status report ("triennial"), nor pay the associated fee. Moreover, John searches his records and finds a written notice sent by certified mail in March 2012, from the Miami Port Director, notifying him of the suspension of his license. John is determined to continue his career as a licensed broker. Which of the following courses of action should John take?

Realize that his broker's license has been revoked by operation of law and file an application for a new license. Reason: Once license is revoked for failure to file status report, you will have to apply to take the exam again Citation: 111.30(d)

Which entry type is excepted from liquidation?

Reason: 10. B 159.2 TIB Temporary Import Under Bond, but you have to look into the CF 7501 Directive to get the answer Citation: 19 CFR 159.2

The Transaction Value of imported merchandise is the price actually paid or payable for the merchandise when sold for exportation to the United States. The Transaction Value can include which of the following additions?

Reason: See outline in back of chapter 9. You should get this one. Packing, Selling Commissions, Assist, Royalties, and Proceeds Are all dutiable charges. Citation: 152.103(b)(1)

If un-entered, and therefore not released, merchandise remains in a container freight station for more than 15 calendar days from the date of arrival, the shipment may be subject to:

Removal to a general order warehouse Reason: Goods are sent to GO if not entered within 15 days of arrival. Citation: 4.37(b)

Each broker must submit in writing, to the director of each port at which the broker intends to transact customs business, a list of the names of persons currently employed by the broker at that port. These same requirements also apply to new employees. For each employee, the broker also must provide which of the following information?

Social security number, date and place of birth, current and last prior home address and if employee has been employed for less than 3 years, the name, address and dates of employment for each former employer for the 3-year period preceding current employment with the broker Broker must submit employee inforamtion to PD. Citation: 111.28(b)(1)(i)

In the case of a new employee, a customs broker must notify the CBP port director that the broker has hired the new employee within ____________.

Ten calendar days after the new employee has been employed by the broker for 30 consecutive days Reason: When a broker hires a new employee, the broker must notify CBP within 10 calendar days after the new employee has been employed by the broker for 30 consecutive days Citation: 111.28(b)

Date of Export

The actual date the merchandise finally leaved the country of exportation for the United States

Each application for a district permit must set forth all the below, EXCEPT:

The address where the applicant lives within the district and the telephone number Reason: Home address and telephone number of applicant are not needed for the Dsitrict permit application. Citation: 111.19(b)

How long does a successful examinee have to submit a license application to CBP?

The application must be submitted within 3 years of passing the exam. Reason: You have 3 years from date of passing to apply for the broker license. Citation: 111.11(a)(4)

Which of the following is considered an assist and should be included in the entered value of headphones?

The cost of plastic earpiece components supplied free of charge by a US importer to the foreign producer of headphones in Shenzhen, China Reason: 152.102(a)(1). Parts supplied free of charge by importer to manufacturer. Citation: 152.102(a)(1)

Which of the following dates would be the date ofliquidation of an entry?

The date notice is posted at the CBP Website CBP.GOV. Reason: Liquidation date is when posted at the CBP website CBP.GOV for a formal enmtry. Citation: 159.9(c )

What is the result of CBP's failure to make a final determination with respect to the admissibility of detained merchandise within 30 days after it has been presented for CBP exam (or such longer period, if authorized by law)?

The detained merchandise is deemed excluded Reason: If CBP fails to answer, or fails to make a determination about whether detained goods are not admissible, within 30 days, the goods are considered excluded. Stated another way, If CBP has not issued a decision about excluding goods within 30 days of detention, the goods are deemed excluded. Citation: 151.16(f)

A broker hires someone as an employee on March 15, 2013, whose broker license was revoked on February 5, 2002, with prejudice. Per CBP regulations, what is the next course of action?

The employee should not accept employment until she sends a petition to the CBP Assistant Commissioner of the Office of International Trade requesting authorization to accept the employment with the broker, and the petition is approved. Kind of a reverse question... what can a person who has lost their license do to get work with a broker - must petition CBP for approval. Citation: 111.42 (a)

Upon importation, an importer inspected its merchandise, women's shirts, and noted that the shirts were made of 98% cotton instead of 100% cotton, and that the sizing ran small and did not match what was listed on the sewn-in label. The merchandise was entered under 6206.30.30, HTSUS and duty paid. The importer's buyer in the United States rejected the merchandise because it was not what the buyer ordered. The importer ultimately sold the merchandise to a discounted clothing store at 10% of what the original buyer agreed to pay. The importer requested a full refund of duties paid on the merchandise claiming it was defective. Which of the following is the best description of what the importer is entitled to in this situation?

The importer is entitled to a partial refund of duties. The merchandise should be appraised in its condition as imported, with an allowance made in the value to the extent of the damage. Reason: We have students proitesting this question. I thnk the answer is E. There was no damage to the goods, they simply were not what the buyer wanted. 2 different issues. Citation: 158.12

Assists are supplied directly, indirectly, free of charge, or at a reduced cost by the buyer of imported merchandise for use in connection with the production or the sale for export of the merchandise to the United States. Which of the following is NOT considered as an assist?

The importer's engineer is sent abroad to modify and/or finalize existing United States plans Reason: Engineering Work done by engineer domiciled in US does not count as an assist. Citation: 152.102

Which of the following is NOT a valid reason for extension of liquidation?

The importer's merchandise is before Customs Court pending litigation Reason: See list in 159.51 Citation: 159.51

Which of the following is NOT an addition to the price actually paid or payable?

The international freight cost incurred by the buyer Reason: International Freight is not part of transaction value Citation: 152.103 (b)

A broker must provide specific information to the port director at each port where the broker intends to transact customs business (application for permit). That information must be provided in writing and include each of the following, EXCEPT:

The mother's maiden name of each employee Reason: employee information does not inlcude the mother's maiden name. Citation: 111.28(b)(1)(i)

Transaction value means:

The price actually paid or payable for the merchandise plus selling commissions, royalties, assists, packing costs and proceeds Reason: I think A is correct as well. But a more complete answer wouold be C. Transaction value is price actually paid or payable plus any dutiable charges. Citation: 152.103(a)

An importer enters gas turbines manufactured in China through the Port of Boston. The importer indicates that the basis of appraisal is transaction value based upon a sale of merchandise to the importer from the unrelated manufacturer M. The importer pays a royalty to Company A for the right for manufacturer M to use patented technology in the production of the gas turbines in China. After importation, the imported gas turbines are used in the production of other goods in the United States using a patented technology for which the importer pays Company B for the right to use. The contract between the manufacturer and the importer makes no reference to either Company A's or Company B's patented technology, or the royalty payments to the companies. Which of the following describes the dutiable status of the royalty payments and the reason for that status is?

The royalty payment to the Company A is dutiable; the royalty payment to Company B is not dutiable. Company A's patented technology is necessary to produce the imported goods. Company B's patented technology goes to the right to use technology in the United States and the imported gas turbines are not the subject of the royalty agreement. Citation: 152.103(f)

Which of the following costs should NOT be added to the price actually paid or payable to determine the transaction value for an entry of plush toys of a popular cartoon character?

The shipping costs paid by the U.S. buyer to import the plush toys Reason: FREIGHT. Shipping costs paid by the US buyer to impoirt the toys would not be dutiable. Citation: 152.103(b)

Excessive deposits of Alcohol or Tobacco taxes cannot be refunded in cases where:

The tax was over paid due to misclassification of the article. Reason: Weird one time question. Citation: 24.36(d)

Which of the following is an exclusion from transaction value?

The transportation cost of the merchandise after its importation, when identifies separately from the price actually paid or payable Reason: No transportation cost after import are included with TV. Citation: 152.103

What happens before warehouse entries are liquidated?

They are suspended until all goods are withdrawn and accounted for

In relation to valuation of merchandise, what is the general definition of "Price Actually Paid or Payable?

Total payment (whether direct or indirect, and exclusive of any charges, costs, or expenses incurred for transportation, insurance, and related services incident to the international shipment of the merchandise from the country of exportation to the place of importation in the United States) made or to be made for imported merchandise by the buyer to, or for the benefit of the seller. Reason: 152.102(f) Difficult to follow, but price paid or payable is the answer. Citation: 152.102(f)

Transaction value cannot be used on a consignment shipment, the entered value of the aircraft engine cannot be determined under transaction value and one of the other bases of appraisement must be applied the other bases of appraisement must be applied Reason: Lots of info about values, but the reall issue is whether you can use transaction value. YOU CANNOT because there is no price PAID. It is a consignment. Citation: 152.103

Which of the following customs transactions is NOT required to be performed by a licensed Customs broker?

Transportation in Bond Reason: No CBP license required for transportation entries. Citation: 111.1

Which of the following customs transactions is NOT required to be performed by a licensed customs broker?

Transportation in bond Reason: No license required for In Bond or IT's. (Nor for marine transactions, Foreigh Trade Zone Activities, or employee of broker) Citation: 111.2(a)

Payment for the __________________ is required every three years.

Triennial Status Report fee Reason: Triennial status report is due every three years from every licensed broker. A corporation that is a broker would pay this as well as the broker working for the corporation who is the license qualifier. Citation: 111.30(d)

General order warehouse

Unclaimed or unentered freight

Generally accepted accounting principles" refers to any generally recognized consensus or substantial authoritative support regarding all of the following, EXCEPT:

What information should not be disclosed and how it should be disclosed Citation: 152.102(c )(1)(iv)

When is a customs broker license required?

When a person intends to transact customs business on behalf of others Reason: Must have a CB license to conduct Customs Business on behalf of others. Citation: 111.2(a)(1)

When is the official liquidation date?

When notice of liquidation is posted electronically at the CBP public website. (159.9 ‒ Ch. 6)

Date of Liquidation

When posted at CBP websites

When is liquidations for mail entry?

When postmaster releases

Generally accepted accounting principles refer to any generally recognized consensus or substantial authoritative support regarding any of the below EXCEPT:

Which changes in assets and liabilities should not be recorded. Reason: See the definitions in 152.102 Citation: 152.102

During a visit by CBP to a brokerage, CBP reviewed the broker's employee list and discovered that a new employee had not been included on the employee list that the broker had submitted to CBP. How many days after hiring this employee must the customs broker report it to CBP?

Within 10 calendar days after the new employee has been employed by the broker for 30 consecutive days Reason: Must give CBP new employee info within first 10 days after 30 days of employment. Citation: 111.28(b)(i) & (ii)

When a licensed broker hires a new employee, the broker must submit the required employee information to the port_________________________________.

Within 10 calendar days following completion of first 30 consecutive days of employment by the broker Reason: a broker must submit new employee information to the PD within 10 days after the first 30 days of employment. Citation: 111.25(b)

An importer sends a check, payable to a licensed broker, for payment of duties and fees applicable to an entry after the due date of the duties and fees. When is the broker required to submit payment for the duties and fees owed to CBP?

Within five working days from receipt of the payment by the broker Reason: Money given to a broker after the due date must be given to CBP within 5 working days of receiving the funds. Citation: 111.29(a)

An importer sends a check, payable to a licensed broker, for duties and fees applicable to an entry after the due date of the duties and fees. When is the broker required to remit payment for the duties and fees owed to CBP?

Within five working days from receipt of the payment by the broker Reason: Money received by broker from client after due date must be delivered to CBP within 5 working days. Citation: 111.29

What notification must be provided on, or attached to, any power of attorney executed by new clients?

Written notification that payment to the broker will not relieve the importer of liability of customs charges Reason: A Broker must notify clients that payment to him does not relieve the importer of liability to CBP, and this must be stated on the POA signed by the client. Citation: 111.29(b)(2)(i)

XYC Brokerage is located in New York. It is permitted to conduct Customs business in the ports of New York, Florida, California, and Alabama. The individual qualifying the permit in New York leaves the brokerage. Which statement is correct?

XYC Brokerage has only 180 days to replace the individual qualifying the permit in New York. Reason: You can request CBP to waive a broker for a branch office. Citation: 111.45(b)

Proclaimed Rate

a rate issued by Congress takes priority

What does assist mean?

any of the following if supplied directly or indirectly , and free of charge or at reduced cost, by the buyer of imported merchandise for use in connection with the production or the sale for export to the United States of the merchandise

Some cost of transaction value may or may not be added

as part of dutiable value( dutiable charges)

When are free informal entries liquidated?

at time of release

More than one bounced check in 12 months, the importer must pay with

certified check, money order, or cash

Ex-Factory

charges will not be added

"Customs business" includes ____.

classification and valuation

Value of assist is

cost + all transport cots

Interest is assessed on the underpayment of duties and fees at a rate determined by the Secretary, from the ______________ to the liquidation or re-liquidation date.

date the importer is required to deposit the estimated duties Reason: if you owe CBP duty at liquidation, interest is due from date you are required to pay or deposit duties. Citation: 24.3(a)(b)(2)

Under $20

deemed liquidated

In instances where a transaction is in a foreign currency, CBP will use an exchange rate in effect on the date of _________ for conversion purposes.

exportation from the foreign country Reason: Currency conversion is based on date of export Citation: 159.32

Liquidation can be extended by

good cause, info for appraisement and classification

Currency Conversion rate

is based on date of export, if the date is a weekend pr holiday use previous business day rate

Calculating Duty Entered value

is rounded up or down for a percentage(% ad valorem) duty calculation

Liquidation

is when CPB finished all legal interest in the entry, it is a final accounting or disposition of an entry

Identical merchandise means

it is identical in all respects to, and produced in the same country and by the same person as, the merchandise being appraised.

If a Broker receives money from a client to pay CBP, when must the Broker give it to CBP?

n or before due date, unless it is given to the Broker late then within 5 working days of receipt from client. (111.29 ‒ Ch. 10)

Under which scenario below would a broker be exempt from notifying importers annually of their right to pay CBP directly under 19 CFR 111.29? (I am aware there is no answer E. I working on a correction for this issue)

none of the above Reason: A broker must advise a client of his or her right to pay CBP directly at least once each year. This must be included with the POA signed by the client. Citation: 111.29(b)(2)

If personal check for collection cont.

payment must be exact

How to value assist if Purchased

price paid

Transaction Value (TV)

price payable or actually paid

CBP may suspend liquidation if

required by statue or Court order

Ex-Factory

that the manufacturer simply puts the goods at his back door and the importer is responsible to get the goods to the US.

What does DDP mean?

that the transaction includes all kinds of costs to get the goods to the US buyers

After 6 Months in the General order it goes to

the Auction

If a brokerage loses its permit qualifier in a district, the brokerage may request a waiver of a permit qualifier in the district. CBP will accept the waiver request when __________________.

the brokerage can demonstrate that it has regularly employed at least one individual broker in a larger geographical area in which the district is located and that adequate procedures exist to exercise If a broker has a branch office, he can request a waiver from CBP to avoid having a broker in a branch office. Citation: 111.19(d)(2)

Whenever goods subject to different rates of duty are so packed together that the quantity orvalue of each class of goods cannot be readily ascertained by customs officers by means sampling, verification of packing lists, or commercial settlement tests, then the commingled goods shall be subject to _________.

the highest rate of duty applicable to any part of the shipment Reason: Commingling of Goods results in importer paying the higest duty rate. Think of a set of tools imported. IF a hammer is 10 percent duty and screwdrivers are 5 percent duty, the importer pays 10 percent duty on the set. Citation: 152.13

When are Informal entries Liquidated?

when duty paid to cashier

Bills resulting from dishonored checks or dishonored Automated Clearinghouse (ACH) transactions are due?

within 15 days of the date of issuance of the bill Reason: If a broker or imported has insufficient funds in ACH or checking to pay CBP, the broker or importer must pay CBP within 15 days of receiving that notice / bill from CBP. Citation: 24.3(e )

If a Customs broker receives payment of duty, taxes and fees from a client after the due date to CBP, the broker must transmit the payment to the Government ____________.

within 5 working days Reason: Money received from client after it is due must be delivered to CBP within 5 working days. Citation: 111.29(a)

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