High-seas sale valuation: actual high-seas contract price governs customs assessment when it exceeds CIF plus sales charges. For high-seas sales the transaction on the high seas is the relevant transaction and the last buyer is the importer; declared high-seas sales charges are added to CIF (generally treated as two percent of CIF unless actual charges are higher), and where the actual high-seas sale contract price is known and exceeds CIF plus sales charges, that actual contract price is to be taken as the customs value for assessment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
High-seas sale valuation: actual high-seas contract price governs customs assessment when it exceeds CIF plus sales charges.
For high-seas sales the transaction on the high seas is the relevant transaction and the last buyer is the importer; declared high-seas sales charges are added to CIF (generally treated as two percent of CIF unless actual charges are higher), and where the actual high-seas sale contract price is known and exceeds CIF plus sales charges, that actual contract price is to be taken as the customs value for assessment.
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