Kevin Daily

What you or your client may not know about the Periodic Monthly Statement Program and the potential negative effects.

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The periodic monthly statement program (see the side bar) is becoming more and more popular among importers. In a recent meeting with Customs, representatives of C.A. Shea learned that as many as 600 new importers a week sign up (or are signed up by their customs brokers) to pay their duties in this fashion. This … Read more

What is Reconciliation?

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Reconciliation is a customs process in which participation requires a principal to add a special rider to their continuous importer bond.   It allows an importer to estimate the value of goods entering the U.S. and pay any duties, taxes and fees based on that amount. After a period of 18-21 months, when the importer has determined the … Read more