1. The value of the shipment The total value of your shipment forms the foundation for calculating duties and taxes. This declared value comprises the cost of goods, insurance cost, and freight charges, collectively known as CIF (cost, insurance, and freight). For instance, if...
Related EcomCrew Reading: Why Shipment Terms Matter: EXW, FOB, CIF, etc. Customs, Tariffs, and the Magic $800 De Minimis Value In America, orders under $800 do not have any duties applied to them. This is called the de minimis value. Orders above this amount will be charged applicable...
In this case, the seller pays the transportation charges andowns the goods while they are in transituntil they reach the destination point. The seller also assumes the risk of loss and damage in transit. The buyer gets the title of the goods at their business location. Example:Company A pa...
CIF (Cost, Insurance, and Freight) – meaning that the seller is responsible for the cost of freight and insurance to facilitate safe delivery of the goods to the port of destination; and, FOB (Free On Board) – meaning that the buyer is responsible for the above expenses. The amount of...
When shipping underCIF, the carrier takes care of freight and transport insurance to the port of arrival. In China, the Organization of Maritime Transport is very picky. In general, the four common incoterms when shipping from China are EXW; FOB; CFR and CIF. To determine a price and the...
Sourcing agents in China are able to speak in Chinese with potential suppliers meaning smoother communication and negotiation. As the Chinese sourcing agent is usually based in China, they can attend all trade shows and have access to sourcing websites in the native language. In theory, agents ...
2. Capital goods in Semi Knocked Down (SKD)/Completely Knocked Down (CKD) conditions to be assembled into capital goods by the authorisation holder. 3. Spare parts of CIF value upto 10% of the CIF value of goods specified at Serial Nos.1 and 2 as actually imported and required for maint...
and even restricted party screening of vendors. Certain HTS determinations might require declarations to government agencies that regulate relevant products, or a license for items like steel, fish and wildlife goods. Value can be affected by basic decisions like shipping CIF (cost, insuranc...
某进出口公司进口数控装置一批,成交价格为CIF北京USD800,000.00(外汇折算率:1美元=人民币8.2元)。已知该批数控装置的关税税率为5%,海关于2006年 6月8日(星期四)填发“海关专用缴款书”,该公司于2006年6月28日缴纳税款,请问该批机器设备的滞纳金应是: A. 656.00 B. 750.00 C. 820.00 D. 800.00 查看...
Among them, the price of materials in non China ASEAN Free Trade Area refers to the cost of imports of raw materials from non China ASEAN Free Trade Area, and the freight and insurance premium (CIF) to the port or place of destination. ...