December 2006
Intermediate to advanced
464 pages
8h 29m
English
book
Global Sourcing Logistics: How to Manage Risk and Gain Competitive Advantage in a Worldwide Marketplace
by Thomas A. Cook
Content preview from Global Sourcing Logistics: How to Manage Risk and Gain Competitive Advantage in a Worldwide Marketplace
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their behalf. Most companies like this service because it
minimizes the strain on the importer’s accounting practices
to validate correctness of information and issue payment to
CBP within a 10 working day timeframe. The broker ad-
vancing the duty payment allows the importer time in the
validation process because most brokers afford 30-day pay-
ment terms.
Use of this service does not relieve the importer of the
responsibility to pay duties, taxes, and fees. Supervision of
how the duty payment process is being handled is the re-
sponsibility of the importer. Records of timely payment are
maintained by the broker. Copies of the receipts of pay-
ments must be reviewed and retained by the importer.
Various methods can be used to achieve this goal. In a CBP ...
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