What are the different types of customs entry?

Types of Customs Entry

International trade involves the movement of goods across borders, requiring compliance with customs regulations. Different types of customs entries facilitate this process, depending on the specific circumstances of the transaction.

1. Consumption Entry

This entry type is used when goods are permanently imported into a country for domestic use. The importer must pay all applicable duties and taxes, and the goods are released from customs control for consumption.

2. Warehouse Entry

Goods can be stored in a customs-bonded warehouse without paying duties or taxes. This allows the importer to defer payment until the goods are withdrawn for sale or consumption.

3. Transshipment Entry

This entry type is used when goods are being transported through a country to a final destination in another country. The goods are not intended for entry into the country of transit, and they remain under customs control until they are transshipped to their final destination.

4. In-Bond Entry

This entry type is used when goods are moved from one bonded area to another within the same country. The goods remain under customs control throughout their movement, and no duties or taxes are paid until the goods are released for consumption.

5. Temporary Importation Entry

This entry type is used when goods are temporarily imported into a country for a specific purpose, such as repair or exhibition. The goods are released from customs control upon payment of a security bond, which is refundable when the goods are re-exported.

6. Drawback Entry

This entry type is used when goods are exported after they have been imported into a country. The importer may be entitled to a refund of duties or taxes paid on the imported goods.

Global Trade Channels

Goods are transported across borders through various channels, including:

• Air Freight: Air freight provides the fastest and most direct connection between points worldwide. It is commonly used for high-value or time-sensitive goods.

• Ocean Freight: Ocean freight dominates trans-American shipping. It is a cost-effective option for transporting large quantities of goods over long distances.

• Land-Based Road Freight: Road freight connects businesses within a country or across borders. It is suitable for short to medium-distance transportation.

• Specialized Project Cargo Handling: This type of cargo handling is tailored to transport oversized or complex equipment, such as construction machinery or wind turbines.

• Warehousing: Warehouses provide secure storage space for goods before or after transportation. They facilitate efficient inventory management and distribution.

• Container Shipping: Containers are standardized intermodal units used for transporting goods. They provide protection and ease of handling throughout the logistics process.