Krypt Blogs | Customs

Information and Insights on Global Trade and Supply Chain Solutions




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Why you need accurate tariff classifications?

Business entities involved in global trade must function within the framework of various compliance rules/practices framed by the country they operate for and with. And more importantly for this, classification of products/services play a vital role. This century, in the wake of ― newly emerging economies, recession, volatile economies, conflicting differences in political agenda, challenges … Continue reading “Why you need accurate tariff classifications?”

By: Krypt Team - March 27th, 2019

Krypt Exhibiting at SAPPHIRE 2019 | Orlando, FL | May 7-9

Krypt, an SAP Partner proudly announces its participation as exhibitor in SAPPHIRE NOW and ASUG Annual Conference. This three-day Conference held from May 7–9, 2019 in Orlando, Florida will have industry leaders & experts help you look at new ways to change and put your business outcomes in the spotlight. Don’t miss to visit Krypt … Continue reading “Krypt Exhibiting at SAPPHIRE 2019 | Orlando, FL | May 7-9”

By: Team Krypt - March 25th, 2019

Deep Dive for Customs Assists

Lately we have seen many questions around customs assists. Assists are easily overlooked, but if the valuation of your goods are questioned or audited, Customs could penalize you. To help clear up some confusion and further aid the international trade and compliance community’s understanding, we are recapping and addressing a few components regarding assists. What are Customs … Continue reading “Deep Dive for Customs Assists”

By: Team Krypt - April 20th, 2017

Customs Assists for the Informed Importer

It’s vital for importers to understand the concept of a Customs Assist to ensure they value their imported products correctly. Failing to account for assists could result in reporting a lower valuation which in turn leads to underpaying customs duties. While often unintentional, undervaluing and underpaying duties creates trouble with U.S. Customs and Border Protection (CBP). What … Continue reading “Customs Assists for the Informed Importer”

By: Team Krypt - January 3rd, 2017

How do we file an Informal Entry?

An Informal Entry is one which involves Importation of goods which does not exceed $2500 in value. Informal entries mostly do not entail CBP bond and are usually for personal use imports or commercial imports less than $2500 in value. In most cases, informal entries are granted if the value of goods fall below $2500 … Continue reading “How do we file an Informal Entry?”

By: Team Krypt - February 2nd, 2016

Export Control Reform (ECR) Transition

Export Control Reform (ECR) Transition Date: Monday, November 10, 2014 Under the Export Control Reform (ECR) Initiative to transition selected items from State to Commerce department jurisdiction, the second phase of the USML Category XV, spacecraft systems and related equipment, goes into effect this coming Monday, November 10, 2014. Export Control Reform reclassification can be … Continue reading “Export Control Reform (ECR) Transition”

By: Team Krypt - November 6th, 2014

What you need to know about DSP-5

DSP-5 Scenario based on real events Your company has been working for months, maybe even years to cultivate a contract to manufacture your company’s first satellite for a Singapore Cellular Provider. It’s a $10,000,000 contract and your manufacturing team has just completed the final product. Months ago, you were given a forecast of when the … Continue reading “What you need to know about DSP-5”

By: Team Krypt - April 21st, 2014