Course Description
Importing is a major part of the U.S. economy. Trillions of dollars in goods and services are imported every year. This is why the U.S. federal government has regulations to control imports. This course will show you how to remain compliant with these regulations. You will also learn how to respond to an audit from Customs and Border Protection as well as different programs CBP offers that can speed up the importing process.
Upon completion of this course, you will know how to properly import goods within your organization by maintaining reasonable care, assessing valuation, understanding duties, and more. You will gain a better understanding of incoterms as well as import prohibitions and penalties. Most importantly, you will be provided the skills and knowledge needed to be in compliance with U.S. Federal Regulations when it comes to importing.
Learning Objectives
- List the 11 incoterms
- Understand the importance of recordkeeping
- Learn about countervailing duties and antidumping
- Know the penalties of import violations
- Understand the three different voluntary programs offered by Customs and Border Protection
Skills You Will Learn
- Bulk Import
- Import Declarations
- Import/Export Regulatory Compliance
- Regulatory Compliance
- Trade Compliance
- U.S. Regulatory Compliance
What You'll Learn
- List the 11 incoterms used in importing
- Calculate duties and assess proper valuation of imported goods
- Apply reasonable care and recordkeeping practices for import compliance
- Identify import prohibitions, penalties, and country-of-origin and classification requirements
- Respond to an audit from Customs and Border Protection, including prior disclosure
- Compare CBP's three voluntary programs: CTPAT, FAST, and ISA
Key Takeaways
- Importing is a major part of the U.S. economy, with trillions of dollars in goods and services imported every year, prompting federal regulations to control imports.
- Proper importing within an organization depends on maintaining reasonable care, assessing valuation, and understanding duties.
- Recordkeeping is important for staying compliant with U.S. federal import regulations, and import violations carry penalties.
- Customs and Border Protection conducts audits, and importers can respond through processes such as prior disclosure.
- Customs and Border Protection offers three voluntary programs (CTPAT, FAST, and ISA) that can speed up the importing process.
Frequently Asked Questions
What does this course cover?
The course covers how to remain compliant with U.S. federal import regulations, including incoterms, reasonable care, duties, valuation, country of origin, classification, import prohibitions, recordkeeping, countervailing and antidumping duties, penalties, audits and how to respond to them, prior disclosure, and CBP's voluntary programs CTPAT, FAST, and ISA.
What will I learn about Customs and Border Protection audits?
You will learn how to respond to an audit from Customs and Border Protection, including the prior disclosure process.
What CBP programs does the course explain?
It explains the three different voluntary programs offered by Customs and Border Protection (CTPAT, FAST, and ISA) that can speed up the importing process.
What skills does this course build?
It builds skills in bulk import, import declarations, import/export regulatory compliance, regulatory compliance, trade compliance, and U.S. regulatory compliance.
What will I be able to do after completing this course?
You will know how to properly import goods within your organization by maintaining reasonable care, assessing valuation, understanding duties, and more, and you will have the skills and knowledge needed to be in compliance with U.S. federal regulations when importing.
