Trade Compliance & Customs Tariff Terms
Explore key tariff and trade terminology related to trade compliance & customs. Our comprehensive definitions provide clarity for importers, exporters, and trade professionals.
Advance Electronic Manifest
A security requirement mandating that carriers electronically submit cargo and conveyance information to customs authorities before arrival, enabling ...
Binding Tariff Information
An official ruling issued by customs authorities that provides a legally binding classification decision for specific goods, valid for a set period an...
Broker License
A license required for individuals or companies to act as customs brokers.
Country of Origin Labeling
Regulations requiring that products be labeled with their country of origin, informing consumers about where goods are manufactured, produced, or grow...
Customs Broker
A professional who assists importers and exporters in meeting federal requirements for international shipments.
Customs Declaration
An official document that lists and provides details about goods being imported or exported, filed with customs authorities to determine applicable du...
Customs Documentation
Documents that list and give details of goods that are being imported or exported.
Customs Valuation
The process of determining the economic value of goods declared for importation.
De Minimis Rule
A threshold below which goods can be imported without incurring customs duties or taxes.
Entry Summary (CBP Form 7501)
A required form for declaring the classification and value of goods entering the U.S.
Harbor Maintenance Fee (HMF)
A U.S. federal tax imposed on commercial cargo imported through or transported through certain U.S. ports, collected to fund the maintenance and opera...
Harmonized Tariff Schedule (HTS)
An internationally standardized system of names and numbers for classifying traded products.
Import Compliance
The process of ensuring imported goods meet all regulatory requirements and trade laws of the destination country, including proper classification, va...
Import Compliance Procedures
The process of adhering to all customs laws and regulations for imported goods.
Merchandise Processing Fee (MPF)
A fee imposed on most imports into the United States, in addition to tariffs.
U.S. Customs and Border Protection (CBP)
The agency responsible for enforcing U.S. customs regulations, including tariff collection.
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