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Any DUTY which is in addition to regular duties. Penalty duties are imposed to add additional costs on an exporter/importer for not complying with fair trade practices or the customs laws of a country. Penalty duties include marking duties, exclusionary duties, anti-dumping duties, and retaliatory duties. [ABSTRACT FROM AUTHOR]

DDP is a trade term. It means that the seller delivers the goods to an agreed destination, cleared for import and not unloaded. Under a DDP contract, the seller assumes the risks and duties of customs, duties, and taxes for import. [ABSTRACT FROM AUTHOR]

DAF is a trade term under which the seller's responsibilities for goods ceases when the goods are delivered at the frontier (border, but before customs border) of the country named in the contract. This term is generally used for land transportation by rail or truck. DAF is an incoterm.. [ABSTRACT FROM AUTHOR]

The value of goods as set by the customs authorities of a country. The value normally should be near the price of the goods noted on the customs declaration form plus any adjustments allowed under customs regulations of a country. In the United States, an importer can dispute the value assigned by inspectors, up to and including a hearing in front of the US Customs Court. [ABSTRACT FROM AUTHOR]

Imports are classified in order to keep records of the amounts and values of goods brought into a country. Classifications are also made to determine which tariffs (if any) or other duties apply. Goods are also checked to ascertain whether they are restricted or banned from entry to a country. [ABSTRACT FROM AUTHOR]

The government agency responsible for enforcing regulations applicable to the importation and exportation of goods from a country. In this capacity, customs agents inspect property, classify as to type of good or commodity, determine if any special regulations apply to the property, assess applicable duties or other charges, and eventually clear (or in some cases refuse admittance to or confiscate) property. Customs authorities are usually charged with reducing the incidence of smuggling of legal property as well as the entrance of illegal property into a country. [ABSTRACT FROM AUTHOR]

Importers often believe that their tasks are complete when arrangements have been made to pay for and take delivery of imported items. However, another obstacle may lie in the path of the successful completion of the transaction: the customs authority of a country. Obtaining customs approval to bring goods into a country (clearing customs) is not always a simple task. Appropriate papers must accompany imports and all requirements of the importing country must be met. [ABSTRACT FROM AUTHOR]

A tax placed on imported items, the amount of which is based upon two types of duties: a percentage of the value of the goods (called an ad valorem duty) and a specific tax per unit (called a specific duty) of the goods (weight, numbers). The sum of these customs taxes is referred to as a compound duty. An example will assist in understanding: Country A assesses a compound duty on imports of car batteries. [ABSTRACT FROM AUTHOR]

A common market is a geographic region in which the countries agree to cooperate with one another to further their joint economic interests. Within the boundaries of the common market, countries strive to reduce and eventually do away with barriers to free trade. Major goals of common markets are the elimination of duties, customs delays, and other barriers to the free flow of goods, services, and people between the member countries. Tariff systems may be established to protect common market countries as a whole from foreign competition. [ABSTRACT FROM AUTHOR]

Part of the Customs Automated Commercial System, which controls and accounts for the billions of dollars in payments collected by Customs each year and the millions in refunds processed each year. The collection system permits electronic payments of the related duties and taxes through the automated clearinghouse capability. Automated collections also meet the needs of the importing community through acceptance of electronic funds transfers for deferred tax bills and receipt of electronic payments from lockbox operations for Customs bills and fees. [ABSTRACT FROM AUTHOR]

Some countries impose tariffs on certain goods from certain countries. In order to determine which imported goods are subject to tariffs, a country may require a document certifying the country of origin of the goods. The certificate allows a country to properly assess applicable tariffs or to release goods in a shorter period of time if no duties are payable. [ABSTRACT FROM AUTHOR]

A part of Customs Automated Commercial System, which specifies the type of examination (intensive or general) to be conducted for imported merchandise. The type of examination is based on database selectivity criteria such as assessments of risk by filer, consignee, tariff number, country of origin, and manufacturer/shipper. A first time consignee is always selected for intensive examination. An alert is also generated in cargo selectivity the first time a consignee files an entry in a port with a particular tariff number, country of origin, or manufacturer/shipper. [ABSTRACT FROM AUTHOR]

A written statement specifying the type of goods being shipped and their values. The shipper of the goods is responsible for the provision of this statement. Many countries require the filing of a bill of entry prior to allowing goods to clear customs. [ABSTRACT FROM AUTHOR]

Any interchange of goods or services between two nations is referred to as bilateral trade. Bilateral trade is normally controlled by agreements between the two countries. However, if both countries are also members of other associations of countries (EC, NAFTA, etc.) trade between the two would be governed by the association rules as well. [ABSTRACT FROM AUTHOR]

Ad valorem duties are taxes which are paid on imported items. The duty is expressed as a percentage amount of the value of goods which clear customs. Thus, if a 5 percent ad valorem duty was due on $50,000 worth of goods, the duty would amount to $2,500. [ABSTRACT FROM AUTHOR]

A forwarding company arranges transportation for goods. Also known as a freight forwarder, the forwarding company can also offer a variety of other services, including advising of documentation required for exports/imports, processing items through customs, and offering other advice as needed. [ABSTRACT FROM AUTHOR]

This duty is aimed directly at stopping the importation of certain items or punishing a country for unfair trade practices. The suggested US 100 percent duty on Japanese luxury automobiles in 1995 is an example of an exclusionary duty, imposed to punish Japan for what the US believed were unfair trade practices. [ABSTRACT FROM AUTHOR]

A document sometimes required by customs authorities in order to allow imports to enter a country. A customs invoice must be completed on the form specified by the country. The invoice includes information which the country desires but which is not found on the ordinary commercial invoice. [ABSTRACT FROM AUTHOR]

Documents used to prove ownership or legal possession of goods are needed in order to allow their passage through the customs system of a country: in other words, proof that the goods are being brought to a country by a party who has the legal right to seek entry for those goods. Proof required is normally a bill of lading or other evidence of title or possession. [ABSTRACT FROM AUTHOR]

A government practising protectionist actions is attempting to protect local markets and industry from foreign competition. Thus, protectionist acts would include high duties, quotas on goods entering the country, difficulty in securing import licenses, stringent customs regulations, and other actions aimed at reducing the flow of imported items. [ABSTRACT FROM AUTHOR]

A duty designed to stop the flow of imports of specific goods. Prohibitive duties may be arranged so as to apply at a low rate for a specified number or value of goods, and then at a much higher or prohibitive rate for additional numbers of imports. [ABSTRACT FROM AUTHOR]

These are barriers, other than tariffs or duties, which reduce or restrict the free flow of trade. Such barriers include customs delays, subsidies to local businesses, domestic content requirements, and others. [ABSTRACT FROM AUTHOR]

In international trade the term "marking" refers to the conspicuous placement of the name of an import's country of origin and final destination point. Marking helps customs officials easily identify property which may be subject to special duties or import restrictions. [ABSTRACT FROM AUTHOR]

Goods traded internationally normally must be labeled in some fashion to allow customs and other inspectors to identify the shipment's country of origin and its point of destination. The "mark" or label must appear on the cargo itself and the bill of lading. [ABSTRACT FROM AUTHOR]

Autonomous duties are levied as penalties against persons who attempt to circumvent customs restrictions or quotas. It is also applied to protect domestic industry against an unexpected increase in imports of specific types of products. [ABSTRACT FROM AUTHOR]

ABI, a part of Customs Automated Commercial System, permits transmission of data pertaining to merchandise being imported into the US. Qualified participants include brokers, importers, carriers, port authorities, and independent data processing companies referred to as service centers. [ABSTRACT FROM AUTHOR]

A refundable payment made to the appropriate government agency (commonly the central bank) to secure an import license. The deposit is returned to the importer within a short period of time after the import transaction takes place. [ABSTRACT FROM AUTHOR]

A Spanish word referring to a tax on goods brought into a country. It refers to a custom's duty. [ABSTRACT FROM AUTHOR]