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UPDATED: 5/7/05
 

Reporting of First Sale to CBP

8/20/08

Effective 9/19/08

As part of the Farm Bill of 2008, Customs will require the importer to disclose if the pricing is based on the first sale price at the time of making a consumption entry.

Customs interpretation of first sale is as follows:

"when the declared transaction value of the imported merchandise is determin on the basis of the price padi by the buyer in a sale occurring earlier than the last sale prior to the introduction of the merchandise into the US."

This reporting will be done by making a designation on the CF 7501.

A letter F will appear next to the declared value if the invoice is based on first sale.

If the invoice is NOT based on a first sale invoice, nothing with appear.

Software modifications have been made to handle the implementation of this policy.

We will be sending out a form to all of our customers, that can be used to advise us of the status of your shipments. This form will also be available here for download.

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