Q: Is the Merchandising Processing Fee (MPF) Increasing in 2021? A: Yes, U.S. Customs & Border Protection (CBP), posted notice of the below-noted increase(s) in user fees, which are effective October 1, 2023. CBP will increase Consolidated Omnibus Budget Reconciliation Act (COBRA) ‘User Fees’ by 26.670 percent to adjust for inflation in the fiscal year 2024. New Rates Include: MPF Minimum: $31.67 (previously $27.75) MPF … Read More
3 Costly Mistakes Importers Make in the Brokerage Process
Listen the article here: GLC INC. · 3 Costly Mistakes Importers Make In The Brokerage Process
Continuous Bond: What Is It, and Why Do You Need One?
Q: Why do I need a continuous bond? A: Customs Bonds are required by US Customs for all commercial imports valued at $2,500 or more, even if a shipment is duty-free. A bond guarantees to U.S. Customs & Border Protection (CBP) that the importer will make good on its payment for the duties and taxes due per shipment. There are Single Entry Bonds (SEBs) that … Read More