What is an Excise Tax?

What is an Excise Tax?

An excise tax is a legislated tax on specific goods such as fuel, tobacco, and alcohol. The IRS establishes the amount of this tax, and CBP collects it on its behalf. When importing into the United States, businesses will have to pay duties, taxes, and fees to United States Customs and Border Protection (CBP) for…

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Why Container Shipping is Locked in a Bottleneck

Why Container Shipping is Locked in a Bottleneck

Container shipping, the backbone of the global trade, is showing signs of debility. The most profitable carriers are struggling to operate efficiently as bottlenecks worsen around ports, distorting supply chains. As consumer demand surges back, the demand for container shipping has surged as a result. Container shipping firms are locked in a significant bottleneck as…

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How to Safely Prepare an LTL Shipment

How to Safely Prepare an LTL Shipment

While LTL shipping can be risky, it can be the best option for shippers transporting small quantities of cargo. Shippers should take safety measures to avoid loss or damage. To avoid delays, freight damage, fees, and other issues that arise, shippers should adequately prepare their less than container load (LTL) shipments. Proper packaging and preparation…

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Importing for Amazon | Due Diligence When Choosing a Supplier

Importing for Amazon | Due Diligence When Choosing a Supplier

FBA shippers need to perform due diligence before selecting a supplier. Performing due diligence can protect buyers from issues like loss and liability. Due diligence is an investigation of a product or supplier to confirm all facts and ensure the purchase will meet the buyer’s needs. This can include reviewing a supplier’s financial records, company…

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Shipping FCL vs. LCL

Shipping FCL vs. LCL

There are two options for container shipping. Shippers can choose to ship in a private, separate container or share a container with other shippers. Both of these options have advantages depending on the situation. Shippers have two options: shipping a full container load (FCL) or a less than container load (LCL). There are pros and…

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Trade Risk Guaranty provides insight on what to expect when your bond is deemed insufficient.

[Video] A Breakdown of a Customs Bond Insufficiency Letter

In an educational video, Trade Risk Guaranty explains what is included in a U.S. Customs Bond Insufficiency Letter and what each section means.   U.S. Customs Bond Sufficiency continues to be a primary concern as U.S. Customs and Border Protection moves into a new year. However, the topic remains as confusing as ever for many…

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