Generally it applies to imported waterborne commercial cargo.•Monies are used to maintain and repair U.S. Port Harbors•HMF are waived if:•If the HMF is 3.00 or less and the goods are duty free•if the goods qualify for NAFTA148
TYPES OF ENTRIES.Informal (Consumption) EntryInformal entries cover personal shipments, commercial shipments and mail shipments that are being entered for consumption, i.e. foruse or sale.In most cases informal entry can be used if the merchandise is valued at$2500 or less.This type of entry does not require a customs “bond”149
TYPES OF ENTRIESFormal (Consumption) EntryMost commercial shipments eventually used in US Commerce.Formal entries are generally commercial shipments supported by asurety (customs) bondto ensure payment of duties andcompliance with Customs requirements.A bond is like an insurance policy that is payable to Customs in the event that the importer does not comply with importrequirements.Having a bond on file, allows an importer to take possession of his merchandise before the payment of duties, taxes and fees.150
LIQUIDATIONFinal step in entry process 314 days after entry summary was filed.If US Customs is satisfied with the entry (duties, value) the entry is liquidated.Liquidation means the shipment can no longer be altered and is final.
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International Trade,U.S. Customs and Border Protection,Harmonized System,Harmonized Tariff Schedule for the United States