Customs Duty Reassessment Rules and Compliance Strategies Explained

Customs Duty Reassessment Rules and Compliance Strategies Explained

This article provides a detailed interpretation of the scope and time limits for supplementary duty payments, including underpaid or missed duties due to classification or valuation errors after goods release, domestic sales transfer of specific duty-free or reduced-duty goods, and illegal smuggling. It clarifies the statute of limitations for customs to recover underpaid or missed taxes and emphasizes the importance of compliant operation for businesses and individuals to mitigate tax risks. Aiming to help enterprises understand the regulations and avoid potential tax liabilities.

09/26/2025 Customs Knowledge
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US Weighs New Tariffs Amid Rising Trade Tensions With China

US Weighs New Tariffs Amid Rising Trade Tensions With China

The U.S. Trade Representative (USTR) is about to release its final decision on tariffs imposed on Chinese goods, drawing widespread attention. This article provides an in-depth analysis of the impact of tariff adjustments on macroeconomic conditions, industry competition, corporate operations, and geopolitics. It also offers strategic recommendations for businesses, aiming to help them make informed strategic decisions in an uncertain trade environment. The analysis covers potential disruptions to supply chains and explores strategies for mitigating risks and adapting to the evolving trade landscape.

11/03/2025 Customs Knowledge
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Bill of Lading Key to Global Trade Transactions

Bill of Lading Key to Global Trade Transactions

The original bill of lading is a crucial document of title in international trade, issued by the shipping company to evidence the contract of carriage and ownership of goods at sea. The holder of the original bill of lading has control over the goods. While telex release bills of lading offer a slightly different functionality, a correct understanding and proper use of the original bill of lading is essential to protect the interests of both trading parties. It serves as a receipt for the goods, a contract of carriage, and a document of title.

08/21/2025 Document Interpretation
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Global Trade Risks Weighing Bills of Lading Options

Global Trade Risks Weighing Bills of Lading Options

This article provides an in-depth analysis of the risks and advantages of original Bills of Lading, Telex Release Bills of Lading, and Sea Waybills in international trade. It emphasizes that the choice of Bill of Lading should be based on a comprehensive consideration of factors such as the mode of trade and the customer's creditworthiness. The aim is to help shippers and consignees achieve efficient and convenient international trade while ensuring security. It highlights the importance of carefully evaluating each type of Bill of Lading to mitigate potential risks and optimize the trade process.

09/26/2025 Logistics Encyclopedia
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Shanghai Imports Face Rising Cargo Shortages Experts Advise

Shanghai Imports Face Rising Cargo Shortages Experts Advise

This paper focuses on import tally in Shanghai, specifically addressing shortage issues for both full container load (FCL) and less than container load (LCL) shipments. It provides a detailed interpretation of the tally process, key considerations, and corresponding strategies. The importance of external packaging inspection and damage recording is emphasized, highlighting the crucial role of tally reports in subsequent claims. This helps importers mitigate risks associated with cargo shortages during the import process.

08/23/2025 Logistics Encyclopedia
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Guide to LCL Shipping Bill of Lading Costs and Verification

Guide to LCL Shipping Bill of Lading Costs and Verification

This article provides a detailed interpretation of common issues in LCL (Less than Container Load) shipping, including bill of lading tracking, cargo inspection, and cost structure. It analyzes key aspects such as obtaining the bill of lading number, the scope of inspection fees, and differences in import/export costs. The aim is to help foreign trade practitioners better understand the LCL shipping process and control logistics costs. This guide provides valuable insights into navigating the complexities of LCL shipments effectively.

08/22/2025 Logistics Encyclopedia
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Maersk Enhances Customer Service for Efficient Cargo Handling

Maersk Enhances Customer Service for Efficient Cargo Handling

This article provides a detailed overview of the customer service inquiry, container guarantee application, and cargo pick-up process after booking with Maersk. It emphasizes strategies for dealing with overbooking situations, tips for using the Maersk website, and important considerations for inland transportation. The aim is to offer practical operational guidance for foreign trade professionals, covering key aspects from booking confirmation to final delivery and highlighting best practices for efficient and effective cargo management.

08/23/2025 Logistics Encyclopedia
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Guide to Optimizing Container Placement in Yard and Vessel Bays

Guide to Optimizing Container Placement in Yard and Vessel Bays

This article provides a clear and accessible explanation of the concept of "container slot" in container terminals and its composition. It details a five-step process using "Zone", "Block", "Bay", "Row", and "Tier" to locate containers. Furthermore, it introduces the container slot representation method on container ships, helping readers quickly understand the "home guide" for containers. This aims to demystify the container slot system for a broader audience.

08/23/2025 Logistics Encyclopedia
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