Understanding Customs Value Checks
What triggers customs value checks?
Customs value checks are triggered when there are suspicions about the declared value of a shipment.
How are shipments selected for valuation review?
Shipments are often chosen for valuation review after a document or physical inspection.
Documentation Required for Customs Value Verification
What documents are needed to demonstrate accurate item value?
- Maritime freight insurance
- Business Invoice
- Invoice for resale
- Purchase Agreement or Order
- Cost of transportation invoice
- A statement for insurance
- Messages regarding the purchase of a Bill of Lading
- Clearing mandate
- Direct authorization for representation
- Bank statement and payment receipt
- Export notification