Safeguarding Your First Sale Savings in a Section 301 Enforcement Environment
The first sale rule saves importers millions of dollars each year, but U.S. Customs and Border Protection is increasing its scrutiny of first sale transactions as importers use this tool with greater frequency to lessen the impact of Section 301 and ordinary tariffs. This webinar will help importers utilizing first sale determine whether their operations could withstand a CBP review.
- overview of first sale valuation and use of first sale rule to lower Section 301 tariffs
- areas most likely to be scrutinized in a first sale audit (e.g., transfer of title, risk of loss, related party pricing, assist valuation)
- evaluating the adequacy of internal controls and procedures
- determining whether your suppliers are candidates for first sale maintenance
- benefits of annual certifications of first sale transactions
- taking full advantage of all cost saving opportunities available through a first sale program
MARK J. SEGRIST is a member of Sandler, Travis & Rosenberg, P.A., resident in the Chicago office. His practice is focused primarily on import and export trade law and assisting clients in acquiring duty-saving benefits under the First Sale Rule. With regard to imports, Mr. Segrist’s practice focuses primarily on providing strategic advice and counsel to a wide range of multinational clients on international trade and customs law matters. He also has extensive experience assisting clients in properly structuring multi-tiered transactions to maximize lawful duty savings under the First Sale Rule.
MARK TALLO is a Member in the Import and Export Practice Group of Sandler, Travis & Rosenberg, P.A., resident in the Washington, D.C., office. His practice areas include customs, import and export compliance, and international anti-corruption measures such as the Foreign Corrupt Practices Act as well as advising clients on duty savings opportunities through the First Sale Rule and U.S. preference programs, including the Generalized System of Preferences and bilateral and regional free trade agreements.