Customs Valuation Determination
Create a Customs Value container that is permanently linked to your product codes.
Product Attributes
Product Name: ABC Sneaker
Product Code links: GTIN#, EAN#, UPC#
Short Description: Men’s Sneaker
SN: 87654321
Lot: xib-123
Last touch assembly/production location: Mexico
Last touch packaging/packing: Mexico
IP Registrations: USPTO 3456325
CAS#: N/A
Last Updated: September 13, 2020 Product Attestation Ledger: Details
Product Image
Cost and Attribute Details
Technical Specifications
Sales brochures catalogues, and other descriptive information
Customs Value Worksheet
The below questions will help to determine if the price paid for the goods can serve as the basis
of customs appraisement. For a more thorough evaluation of the customs value method and
whether or not value adjustments are needed, please see the KYG Trade Customs Valuation Analysis module.
Definitions
Under US Customs and Border Protection (CBP) and most other WTO member country’s rules and regulations, the definition of a Related Party applies if any one of the following facts exist between the seller and buyer of a good:
1) Members of the same family, including brothers and sisters (whether by whole or half blood), spouse, ancestors, and lineal descendants;
(2) Any officer or director of an organization, and that organization;
(3) An officer or director of an organization and an officer or director of another organization, if each individual also is an officer or director in the other organization;
(4) Partners;
(5) Employer and employee;
(6) Any person directly or indirectly owning, controlling, or holding with power to vote, five (5%) percent or more of the outstanding voting stock or shares of any organization, and that organization; or
(7) Two or more persons directly or indirectly controlling, controlled by, or under common control with, any person.
The term “Assist” means 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:
(1) Materials, components, parts, and similar items incorporated in the imported merchandise;
(2) Tools, dies, molds and similar items used in the production of the imported merchandise;
(3) Merchandise consumed in the production of the imported merchandise; or
(4) Engineering, development, artwork, design work, and plans and sketches that are undertaken elsewhere than in the country of importation and are necessary for the production of the imported merchandise;
Supporting Documents
Upload support documents such a customs value rulings issued by customs authorities, supply agreements with INCOTERM, risk of loss and transfer of title provisions, cost sharing agreements, invoices for tooling or molds, written analysis, opinions, memoranda, etc.
Request Additional Information
Finalize Customs Value Attestation
By clicking AGREE below, you certify that:
- You are the registered importer of record for, or the purchaser of, the goods;
- The responses and statements herein fully disclose to the best of your knowledge and belief the true price, value, rebates, fees, commissions, and royalties and are true and correct, and that all goods or services provided to the seller of the merchandise either free or at reduced cost are fully disclosed;
- The information, findings, statements and documents that you have provided herein are, to the best of your knowledge and belief, true and accurate and you assume the responsibility for proving such representations;
- You understand that you are liable for any false statements or material omissions made on or in connection with information that you have recorded and stored via KygBX; and,
- You agree to update any changes that could affect the accuracy or validity of the custom value.
[Auto Generated Responses:]
A: Success. Based on your responses to the above questions, the customs value basis of appraisement for imports into <COUNTRY> is Transaction Value. Your answers to the above questions and supporting documentation have been immutably recorded to the KYG blockchain exchange and registry. It is always recommended to have an independent certified 3rd party customs value expert review your findings, supporting documentation and confirm the accuracy of your determination. The 3rd party customs value expert’s certification of the customs appraisement determination for your product will demonstrate reasonable care and reduce the risk of fines and penalties imposed by customs.
B: Success. Your responses have been immutably recorded to the KYG blockchain exchange and registry. One or more of your responses suggest that the Transaction Value basis of appraisement may not apply to your imported goods and that an alternative basis of customs appraisement is necessary. As the importer of record, you are required to ensure that the correct value is reported to customs. Incorrect value declarations to customs can put your company’s reputation at risk and result in additional duty, fees, fines, penalties, interest, and possible detention and seizure of your goods. It is recommended that a 3rd party customs value expert validate your customs value findings to add a higher level of trust to your analysis and determination.
Click Here to search the KYG Trade referral network to identify a certified 3rd party customs valuation expert.
Click here to see what anyone you provide a private key to this data will see when they enter the following KYGID into the KYGbx search portal: 12345678