Valuation 201: The Familiar Five – Understanding Statutory Additions to Value
Webinar: 1 CCS Credit
Every day, companies around the world enter into legal agreements, pay service fees or commissions, perform design, engineering, or other developmental functions, source and provide necessary materials to their suppliers, and pay for goods in a variety of ways. What often complicates such transactions, however, is not whether they occurred, but rather whether their value or cost must be added to the declared value of imported goods. This one-hour webinar will not only acquaint attendees with basic U.S. customs law valuation principles but also reinforce and familiarize companies with the five statutory additions to value: packing costs, commissions, assists, royalties & license fees, and proceeds of a subsequent resale.
- background of U.S. customs valuation laws
- valuation tools and resources
- primary methods of appraisement
- meaning of “total payment” and “when sold for exportation to U.S.”
- understanding the five statutory additions to value
- how to apportion and declare additions to value
- best practices for conducting reviews and declared value corrections
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, including classification, valuation, product marking and labeling, prior disclosures, penalty mitigation, CF-28/29s, protests, corporate manuals and training, C-TPAT certification and validation, and merchandise qualification for duty-free treatment under free trade agreements and other trade preference programs. He also has extensive experience assisting clients in properly structuring multi-tiered transactions to maximize lawful duty savings under the First Sale Rule.