International Business INB365 Lecture Notes - Lecture 6: Commercial Invoice, Golf Equipment, North American Free Trade Agreement
4 Jan 2018
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Document Summary
Cbp form 7501 entry summary is used by u. s. customs and. Border protection (cbp) to establish duty rates on imported goods, record statistical data, and provide a summary of the import transaction by classification and value. The entry summary must be presented to cbp within 10 work days of the release of the goods along with the entry documentation package. This package consists of the cbp 3461, commercial invoice, packing list copy, bill of lading and any other certificates required to determine admissibility. Mpf is an u. s. customs fee accessed at 0. 3464% of value subject to a . 00 minimum and a . 00 maximum. Mpf for informal entries (2500. 00 or less) is assessed on goods that are transported to the u. s. via air, ship and international mail and not highway. Mpf for informal entries is a set fee and ranges from . 00, . 00 or . 00 per shipment. Monies are used to pay for u. s. customs expenses.
