Essential Differences Every Importer Needs to Know

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In this video, we deep dive into the concepts of Importer Security Filing (ISF) and customs entry, discussing their differences, purposes, and the importance of working with knowledgeable customs brokers. We start by explaining what ISF is and why it is necessary for importers to provide specific information about their shipments before they arrive in the United States. We highlight how ISF enhances the security of the global supply chain by allowing CBP to assess and mitigate risks. Next, we discuss customs entry, which is a formal declaration made by importers or their customs brokers to CBP after the goods have arrived but before they are released. We explain how customs entry helps determine compliance with regulations and ensures proper assessment of duties, taxes, and fees. We then compare ISF and customs entry, emphasizing their differences in timing and information provided. We highlight the consequences of non-compliance for each filing, including penalties, shipment delays, and even the seizure of goods. Finally, we stress the importance of working with customs brokers who possess expert knowledge to navigate the complex customs clearance process and avoid costly mistakes.

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