By passing the Carriage of Goods by Sea Act of 1936 (COGSA), the United States adopted as domestic legislation the Hague Rules, which govern liability for loss in ocean carriage. At that time, ocean cargo was transported largely by barrel and crate, and bills of lading covered cargo from port to port. Today, cargo is containerized and may travel long […]
Some readers may be aware that Customs, through a proposed rulemaking, attempted to abolish the first sale rule in 2008. The first sale rule is a method of determining transaction value, or the price paid or payable, for valuation and appraisement purposes. The rule provides that a U.S. importer may base the valuation of an imported product that was the […]
The Department of Commerce’s Bureau of Industry and Security (BIS) recently posted new export control guidance for freight forwarders on its website. BIS enforces the Export Administration Regulations, which regulate the conduct of both shippers and trade intermediaries and, among other things, prohibits the unlicensed export of controlled items to certain destinations. BIS has brought administrative enforcement actions against large […]