2.2 Common Customs Brokerage Terms.pptx

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U.S. New Hire Learning Experience

Common Brokerage Terms

U.S. Customs Brokerage Package for New Hires

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Common Brokerage Terms

Power of Attorney (POA)

Importer Security Filing (ISF)

Immediate Delivery

Harmonized Tariff Schedule (HTS)

Customs and Border Protection (CBP)

Code of Federal Regulations (CFR)

Partner Government Agency (PGA)

Interactivity

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Common Brokerage Terms

Document Image System

Manufacturer Identification

Country of Origin

Country of Origin (COO) refers to the country where a product was manufactured, produced, or grown. It can also indicate the country where the final substantial transformation of the product occurred. This information is often used for customs purposes, labeling, and determining tariff rates.

A Manufacturer Identification (MID) code is a unique identifier assigned to manufacturers by U.S. Customs and Border Protection (CBP). The MID is used to distinguish between different manufacturers and ensure accurate tracking and reporting of imported goods.

The Document Image System (DIS) used by U.S. Customs and Border Protection (CBP) is an automated system that allows trade partners to electronically submit documents and specific data to CBP.

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Common Brokerage Terms

Importer of Record

Post Summary Correction

Special Program Indicator

A Post Summary Correction (PSC) is a process that allows importers to electronically correct entry summary data submitted to U.S. Customs and Border Protection (CBP) before the entry is liquidated. This correction is required when errors are identified after the initial submission.

An Importer of Record (IOR) is the entity or individual responsible for ensuring that imported goods comply with all applicable laws and regulations of the destination country.

A Special Program Indicator (SPI) is a code used in the Harmonized Tariff Schedule of the United States (HTSUS) to identify goods that qualify for special tariff treatment under various trade programs. These indicators are used to claim benefits such as duty-free or reduced-duty entry for eligible products.

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Common Brokerage Terms

Broker of Record (BOR)

Automated Manifest System (AMS)

Automated Commercial Environment (ACE)

Temporary Import Bond (TIB)

Transportation and Exportation (T&E)

Foreign-Trade Zone (FTZ)

Interactivity

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Power of Attorney (POA)

A Power of Attorney (POA) is a legal document that grants one person (the agent or attorney-in-fact) the authority to act on behalf of another person (the principal) in various matters.

Customs and Border Protection (CBP)

U.S. Customs and Border Protection (CBP) is the largest federal law enforcement agency within the Department of Homeland Security. CBP is responsible for regulating and facilitating international trade, collecting import duties, and enforcing U.S. regulations, including trade, customs, and immigration laws.

Code of Federal Regulations (CFR)

The Code of Federal Regulations (CFR) is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the U.S. federal government. It is divided into 50 titles that represent broad areas subject to federal regulation.

Partner Government Agency (PGA)

A Partner Government Agency (PGA) is a federal agency that collaborates with U.S. Customs and Border Protection (CBP) to regulate specific products imported into the United States.

Information

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Importer Security Filing (ISF)

An Importer Security Filing (ISF), also known as the 10+2 rule, is a mandatory electronic filing required by the U.S. Customs and Border Protection (CBP) for ocean cargo imports. The ISF must be submitted by the importer or their authorized agent at least 24 hours before the cargo is loaded onto the vessel at the port of origin. The ISF includes 10 data elements from the importer and 2 data elements from the carrier.

Temporary Import Bond

A Temporary Importation under Bond (TIB) allows goods to be imported into the U.S. without paying duties, provided they are exported or destroyed within a specified period.

Foreign-Trade Zone

A Foreign-Trade Zone (FTZ) is a designated area within the United States where foreign and domestic merchandise can be stored, processed, or re-exported without being subject to customs duties and taxes until the goods enter U.S. customs territory for domestic consumption.

Automated Commercial Environment

The Automated Commercial Environment (ACE) is the primary system used by U.S. Customs and Border Protection (CBP) to facilitate the import and export of goods.

Broker of Record (BOR)

A Broker of Record (BOR) is a customs broker designated by an importer to handle the importation process on their behalf.

Automated Manifest System

The Automated Manifest System (AMS) is a U.S. Customs and Border Protection (CBP) electronic data system used to track and process cargo entering the United States. It was developed to improve the efficiency and security of cargo shipments by requiring carriers and freight forwarders to submit detailed shipment information prior to arrival.

Transportation and Exportation

Transportation and Exportation (T&E) in-bond refers to the process of transporting imported merchandise from one U.S. port to another, or to a port for export, without paying duties until the goods reach their final destination.

Harmonized Tariff Schedule (HTS)

The Harmonized Tariff Schedule (HTS) of the United States is the system used to classify imported goods and determine the applicable tariff rates.