Check out this study contracted out by TRG Direct. It was conducted by an independent party, Empire Research. The main focus of this presentation is educate companies on increasing compliance and control of their import practices while driving down costs. The study addresses the many obstacles effecting every company’s import profitability, closing with a look at new ways to address these challenges.
I was going to upload this video but I will just leave this link. So click here! You can download it in Flash, Adobe and Power Point.
Tuesday, April 14, 2009
Friday, April 10, 2009
Lacey Act Declaration
Illegal harvesting competes with those companies complying with the rules and regulations of legitimate trade. The Lacey Act has been around for decades battling illegal trafficking of fish, wildlife and plants. In 2008 the Lacey Act was effectively amended to extend the protection to a broader range of plants, encompassing products that are derived from illegally harvested plants and require an import declaration on any plant or plant product imported into the U.S. A phased in approach is in place based on the plant´s degree of processing and complexity of its composition. As of April 1st 2009, Phase 2 plants & plant products will require a declaration. A full list of Phase 2 plants is available on TRG's website.
Are you prepared?
Have you…
◦ identified any/all products that contain plant or plant products,
◦ prioritized products based on plant,◦ determined the original purchaser of the plant or plant material,
◦ determined the plant name, source and value to be included on Lacey declaration,
◦ worked with suppliers to included Lacey information on commercial invoices?
Lacey Act Declaration (LAD)
The declaration must be made at time of importation, and include information on:
Scientific name of any plant,
A description of the value of importation,
Quantity of the plant,
Name of the country in which the plant was harvested.
If a plant species or country of origin cannot be determined, the plant declaration must include a list of possible plant species found in the product or a list of possible countries from which the plant originated.
How will you file this additional data element?
Lacey Act Declaration Addition to TRG Direct Available at No Extra Fee
Phase 2 of the Lacey Act Amendment went into effect on April 1st. TRG Direct's Web-based U.S. Customs entry filing system was ready for this additional data at no extra charge.
Importer's filing consumption entries with TRG Direct (who are subject to the Lacey Act Amendment) were able to begin filing the LAD on April 1st. This addition to the Web-based direct filing system comes at no additional fee to the importer. Customs entries are priced at either $20 or $30 depending on the importer's volume. Thus cost remains the same even with this upgraded feature.
The Lacey Act consists of approximately 19 data elements that need to be filed with Cargo Release and Entry Summary. Cargo Release and Entry Summary already capture some of the required information. The Lacy Act (PG) data set will capture the additional data elements such as: Intended use, description, name of constituent element, quantity of constituent element, unit of measure, percent of constituent element, Participating Government Agency (PGA) line value, scientific genus name, scientific species name container number, source type and source country code.
With TRG Direct this addition has been added to the system as an OGA or Other Government Agency dropdown. It is intended to act much like an FDA regulation. TRG Direct is completely Web-based. This keeps costs down for customers when an entry requirement change is made. There is no need for the importer to engage their IT department for system upgrades. TRG Direct takes care of it all.
Rare Medical Condition Affects Importers: Losuvimp Ortsitis
Throughout the years importers have witnessed the many effects the economy has on their import practices. Today’s economic times are no different, but this year a strange medical and highly contagious virus has blindsided many U.S. importers. Losuvimp Ortsitis has made its way to the U.S. where vaccinations are still in the testing phase. The World Customs Organization predicts that global trade will fall 9% in value this year. We have reason to believe the majority of this sudden downturn is due to Losuvimp Ortsitis. This condition strikes fast are you ready?
So what is Losuvimp Ortsitis?
In medical terms Losuvimp Ortsitis (Loss • of • imports • itis) is the inflammation of the loss of one company’s import practices. This condition is found mainly in small to medium sized enterprises but no matter how severe, the side effects are not always permanent. Many companies who are diagnosed with Losuvimp Ortsitis decide to purchase single entry bonds in order to ensure their shipments. This may seem like a temporary cost savings, but in most situations this is the least economical decision and may actually feed the virus. Depending on the value of the shipment a single entry bond could be anywhere from $55 - $400.
Is there a cure?
At this time no preventative cure is available to stop your company from experiencing Losuvimp Ortsitis, however there is a prescription to help alleviate the symptoms.
Introducing the Low Volume Continuous Import Bond (LVI):
Importers who have always or now import less than 5 shipments with less than $5,000 in duties NEED this bond. Companies such as TRG offer special pricing on the continuous import bond allowing companies to maintain their practices even at a low volume. This bond is can be priced as low as $200 per year.
This bond is the same as any other continuous import bond, but special provisions all for the lower pricing. If you decide to apply for this bond you here are some typical "special conditions" you would have to meet in order to qualify for the continuous US customs bond.
Low-Volume Importer Special conditions:
•Entries per year must be less than 5. Should total entries grow to 5 or more during any 12 month period of the bond, you will be billed the difference between the Special rate and the Standard rate.
•Total duties paid to CBP per year must be less than $5,000.
•Should duty bills reach or exceed $5,000 during any 12 month period of the bond term, you will be billed the difference between the Special and the Standard rate.
•Discounted multi-year pricing is available if you must revert to Standard pricing.
•Financial statements may be required by underwriting.
•This offer does not apply to importers subject to FDA regulations or Anti-Dumping or Countervailing Duties.
•The underwriter should be an A.M. Best A-Rated company.
The fact of the matter is that is you are purchasing multiple single entry bonds in one year, you are probably over paying for your US customs bond. If you choose to go for a low volume bond I suggest making sure the pricing on the company's "standard rates" for the continuous customs bonds are also below the industry average in pricing.
So what is Losuvimp Ortsitis?
In medical terms Losuvimp Ortsitis (Loss • of • imports • itis) is the inflammation of the loss of one company’s import practices. This condition is found mainly in small to medium sized enterprises but no matter how severe, the side effects are not always permanent. Many companies who are diagnosed with Losuvimp Ortsitis decide to purchase single entry bonds in order to ensure their shipments. This may seem like a temporary cost savings, but in most situations this is the least economical decision and may actually feed the virus. Depending on the value of the shipment a single entry bond could be anywhere from $55 - $400.
Is there a cure?
At this time no preventative cure is available to stop your company from experiencing Losuvimp Ortsitis, however there is a prescription to help alleviate the symptoms.
Introducing the Low Volume Continuous Import Bond (LVI):
Importers who have always or now import less than 5 shipments with less than $5,000 in duties NEED this bond. Companies such as TRG offer special pricing on the continuous import bond allowing companies to maintain their practices even at a low volume. This bond is can be priced as low as $200 per year.
This bond is the same as any other continuous import bond, but special provisions all for the lower pricing. If you decide to apply for this bond you here are some typical "special conditions" you would have to meet in order to qualify for the continuous US customs bond.
Low-Volume Importer Special conditions:
•Entries per year must be less than 5. Should total entries grow to 5 or more during any 12 month period of the bond, you will be billed the difference between the Special rate and the Standard rate.
•Total duties paid to CBP per year must be less than $5,000.
•Should duty bills reach or exceed $5,000 during any 12 month period of the bond term, you will be billed the difference between the Special and the Standard rate.
•Discounted multi-year pricing is available if you must revert to Standard pricing.
•Financial statements may be required by underwriting.
•This offer does not apply to importers subject to FDA regulations or Anti-Dumping or Countervailing Duties.
•The underwriter should be an A.M. Best A-Rated company.
The fact of the matter is that is you are purchasing multiple single entry bonds in one year, you are probably over paying for your US customs bond. If you choose to go for a low volume bond I suggest making sure the pricing on the company's "standard rates" for the continuous customs bonds are also below the industry average in pricing.
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