Principles of Valuation

About the Book

This book was written to fill a need for a text which will enable the reader/student to learn the principles of valuation. It will help you to meet the demanding requirements of export and import valuation. Customs and Border Protection expect 99% valuation compliance. Bureau of Industry and Security as well as Bureau of Census expect accuracy in export and import valuation.

The Bureau of Industry and Security states that over 50% of export declarations are incorrect. This book will help to reduce valuation as a value concern.

Valuation is far below the 99% stated to Congress. Under the "reasonable care" requirements of Customs, trained and proficient personnel are expected to provide accuracy of 99%. This book will help attain a higher compliance level and serve as support to your compliance manual.

Please visit the web page for the author's first book, Principles of Classification: Export & Import

About the Author

Clement Key - 33 years service with government; U.S. Customs Services positions held involved in every area of import and export. He completed classification and valuation training through Customs Training Facility at Hofstra University, Long Island (top 25%). In 1980 training was received at Federal Law Enforcement Training Center on Trade Agreements Act of 1979. He completed Operations Analyst Specialist training 1988 at FLETC.

Work positions permitted the broadest experience in trade as well as passenger processing. Positions held exposed him to experience with all commodities. Last position was as Field National Import Specialist. This position required extensive work in writing binding and pre-classification rulings. It furnished the greatest insight on customs compliance in the three main areas, classification, valuation and admissibility. Data analysis training, provides knowledge as to classification methodology and insight into audit assessment. Attended related party transfer price training in Chicago in 1993 and was an instructor to other districts in the Southeast United States. He has "hands on" expertise.

In 1994 he received the Hammer Award signed by Vice President Al Gore for efficiency in government. He received many awards throughout his career.

Since retiring in 1995, he has worked as consultant on compliance projects and as instructor in import and export. His goal is to provide instruction from experience and to encourage global training from high school through continuing education levels. He has written two books on compliance and has a goal of completing eight in a compliance series. From his experience he advises that you "know your merchandise" and acquire all the tools, including training.