 Effective August 20, 2008 - all importers are required to advise whether the transaction or commercial value is a "First Sale", according to US Customs & Border Protection.
In a transaction involving a series of sales, the price of the most recent sale (before the introduction of the goods into the United States), instead of an earlier sale, would be considered the price actually paid or payable for the goods when sold to importing parties in the US.
It is only necessary to report importations for which "First Sale" applies. The importer will be required to provide this information via statement on the commercial invoice. This declaration may also be made to IFF via email, fax, or letter.
If "First Sale" applies to all of an importer's importations then this should be communicated, or you have any questions regarding this announcement, please contact your IFF representative.
For more reference information on this new Customs requirement, please click this link to the Federal Registry.
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