Approval Basis :
Duty assessed on imported merchandise of a class or kind that is sold at a price less than the fair market value. Fair market value of merchandise is defined as the price at which it is normally sold in the manufacturer’s home market – dumping - countervailing duties
Antidumping Duty Deposit
- U.S. Customs
A cash deposit of estimated antidumping duties collected by U.S. Customs and Border Protection (CBP) at the time new customs entries are made for im¬ports of products from countries for which the U.S. Inter¬national Trade Administration (ITA) has issued an antidumping duty order. The actual amount of duty paid is determined at liquidation. See antidumping duty, liquida¬tion.
A claim filed on behalf of a U.S. industry alleg¬ing that imported merchandise is being sold in the United States at “less than fair value,” and that sales of such mer¬chandise is causing or threatening injury to, or retarding the establishment of a U.S. industry. See dumping; coun¬tervailing duties.
A cargo rating that applies to an article regard¬less of weight (i.e., in any quantity)
Apparent Good Order and Condition
A statement, on a bill of lading or other ship¬ping document, indicating that the shipment is available for shipment or delivery with no apparent damage.
- U.S. Customs
An individual authorized by U.S. Customs & Border Protection (Department of Homeland Security) to examine and determine the value of imported merchandise.
- foreign exchange
An increase in the value of the cur¬rency of one nation in relation to the currency of another nation.
– banking / letters of credit
If documents containing dis¬crepancies are presented to the nominated bank under a letter of credit, the bank can forward the documents to the issuing bank for approval, with the beneficiary’s agree¬ment. Because of the risk of loss in transit and delays re¬sulting in interest loss, however, it is recommended that the beneficiary first try to correct the documents; but, if that is not possible, the beneficiary asks the nominated bank to contact the issuing bank for authorization to ac¬cept the discrepancies.
– shipping / insurance
Goods that are not particularly sus¬ceptible to loss, either by reason of their nature or because they are well packed. This term embraces practically all manufactured articles or new merchandise.
The area of an airport where aircraft are parked for loading and unloading of cargo or passengers
Related Links : Approval Basis
Approval Basis To HOME PAGE