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CUSTOMS IQ TAKE CONTROL OF YOUR TARIFF CLASSIFICATION In today's trading environment, close control of Tariff classification (determination of HS Codes) and import duty assessment are essential to effective international trade management. MSR has the needed management and compliance tools. Leverage Your Product Knowledge into Lower Import Duty Costs A review of companies' past imports usually shows that they paid too much duty because they did not make use of available customs duty reduction provisions. Finding the correct HS Code is key to the ability to take full advantage of the duty rate reductions available through preferential tariff programs. The lower import duties available through these programs can significantly decrease your landed costs. Why pay more customs duty than you need to? You know the details of your product specifications and trade arrangements. By finding and comparing alternative Harmonized Code and tariff treatment scenarios you can leverage this knowledge into significant savings. Correct Tariff Classification Safeguards Your Import Compliance Profile Proper classification under the Harmonized Tariff Schedule is also required under the Customs Modernization Act as part of informed compliance and the exercise of reasonable care. Review of a company's tariff classifications forms part of a Compliance Assessment. An importer's failure to exercise reasonable care could not only delay release of the merchandise, but could also result in the imposition of such penalties as detention or seizure and civil or criminal penalties. CUSTOMS IQ FEATURES Powerful Intuitive Search Interface The MSR Customs IQ proprietary search engine helps you make sense of the complexities of the Harmonized System and the massive quantity of legislation, regulations and Rulings that could affect your imports. It adapts to your work style and level of expertise. Drill down through the hierarchy of sections, chapters, headings and subheadings, as you would in a tariff book — with the option of viewing the results in a simulated book-page view. Alternatively, our fast, flexible Keyword searches allow you to quickly explore and compare alternative classification possibilities. Entering a search word or phrase reveals all relevant headings within seconds. Keyword search results are presented in a structured, context-based manner that reinforces correct classification methodology. Special keyword search features such as fuzzy and phonetic search are particularly useful in navigating the extensive Rulings database. Our unique multi-window design lets you easily build, view and document a classification decision "case". You can open the relevant Tariff Schedule page in one window, then cross-reference it to windows containing supporting Legal Notes, Explanatory Notes, Rulings and legislation or regulations. Daily Electronic Updates Our professional staff searches official government and regulatory sources daily to ensure that Customs IQ content is accurate, comprehensive, and current. Browser-Based or Integrated Deployment Customs IQ is available online as a web-based subscription service. However, because the Tariff Schedules are stored in standard SQL databases, the system can also be configured to integrate with MSR's Visual Importer and Visual Exporter International Trade Management systems, or your own ERP program. The integrated configuration lets you review or update the import or export classification and landed cost information in your product databases. |
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