CBP Posts Presentation on Importer Self-Assessment Program
U.S. Customs and Border Protection has posted an Importer Self-Assessment (ISA) PowerPoint presentation from the 2008 Customs-Trade Partnership Against Terrorism (C-TPAT) seminar that was held on February 26-29, 2008 in New Orleans, Louisiana.
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(ISA is a voluntary approach to trade compliance. The program provides the opportunity for importers who have made a commitment of resources to assume responsibility for monitoring their own compliance in exchange for certain benefits.)
The following are highlights of the ISA presentation:
ISA Participation Requirements
The presentation outlines the following ISA participation requirements (partial list):
- be a U.S. resident importer with at least two years of importing history
- join C-TPAT
- complete an ISA Memorandum of Understanding
- agree to comply with all applicable CBP laws and regulations
- agree to maintain a system of business records that demonstrates the accuracy of CBP transactions
- agree to establish, document, and implement internal controls
- agree to perform periodic testing
- agree to maintain an audit trail from financial records
ISA Benefits
According to the presentation, the following are benefits of the ISA program (partial list):
- exemption from comprehensive audits
Focused Assessments
Drawback and Foreign Trade Zones, if included in application
- enhanced prior disclosure
- coverage available for multiple business units
- greater business certainty
- additional tailored benefits
See the C-TPAT presentation for information on internal controls, the application process, etc.
(See ITT's Online Archives or 03/17/08 news, 08031740 2, for previous BP summary of this presentation.
See ITT's Online or 11/16/07 news, 07111600, for BP summary of CBP announcing a revised detention practice for certain textile and apparel shipments from ISA participating importers.)
Presentation (dated 02/28/08) available at http://www.cbp.gov/linkhandler/cgov/import/trade_initiatives/importer_self_assessment/c_tpat_seminar.ctt/c_tpat_seminar.pdf
BP Note
World Trade reports that about 146 companies of the approximate 12,000 C-TPAT members currently participate in the ISA program. (World Trade, dated March 2008, www.worldtrademag.com)