Archivo marzo, 2006

What happens if an import shipment arrives in the U.S. and the quota for the product in the shipment has already been filled?

A quota is a limitation on the quantity of goods that may be imported into a country from all countries or from specific countries during a prescribed time period.

There different types of quotas: quantitative quotas and tariff-rate quotas. A quantitative quota (also referred to as an absolute quota) is any pre-set quantity of given goods authorized for importation, during a specified period, beyond which no additional quantity of these goods can be imported.

A tariff-rate quota is any pre-set value or quantity of given goods authorized for importation, during a specified period with a reduction of the Customs duties. Once a tariff-rate quota is met, additional quantity of the goods subject to the tariff rate quota can still be imported, but higher Customs duties must be paid.

So, therefore, the product generaly cannot be admitted into the country and the importer has the option of exporting the product, destroying the product or entering the product into a foreign trade zone or a bonded warehouse until the beginning of the next quota period.

No hay Comentarios