customs entry

Popular Terms
Declaration of information on imported or exported goods, prepared by a customs broker on a prescribed form called entry Form or duty entry Form, and submitted to the customs. It states the customs classification number, country of origin, description, quantity, and CIF value of the goods, and the estimated amount of duty to be paid. If upon examination by a customs officer the entry is verified as a correct or 'perfect entry,' the goods in question are released (on payment of duty and other charges, if any) to the importer, or are allowed to be exported. Main types of entry are: (1) Consumption entry: for goods to be offered for sale (consumption) in the importing country, (2) Formal entry: that is required to be covered by an entry bond because its aggregate value exceeds a certain amount, (3) Informal entry: that is not required to be covered under an entry bond because its value is less than a certain amount, (4) In-transit entry: for the movement of goods from the port of unloading to the port of destination under a Customs bond, (5) Mail entry: for goods entering through post office or courier service and below a certain value, (6) Personal baggage entry: for goods brought imported as personal baggage, (7) Transportation and exportation entry: for goods passing through a country enroute to another country, and (8) Warehouse entry: for the goods stored in a bonded warehouse.
Called also customs declaration, duty entry, or just entry.

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