Speaker: Yikun (Sky) Shao, Director, PwC Customs and International Trade
Given CBP’s enhanced focus on First Sale for Export (FSFE) generally and more recent scrutiny on ‘flash title’ issues, companies utilizing or planning to utilize FSFE should proactively review their transactions to identify whether potential risks exist or whether any enhancements are needed to further demonstrate that FSFE requirements are met. Establishing the existence of a bona fides sale involves multiple elements. Typically, companies had support that there was a “real” sale, with a transfer of title, risk and loss as well as payment made in accordance with regular commercial terms, and that all transaction documentation aligned. More recently, companies need to demonstrate to CBP that the middleman assumes the risk of loss and acquires title to the goods for more than a momentary a period of time in the multi-tiered transactions; unfortunately, many companies inadvertently find themselves in flash title scenarios and fail to support that there is a bona fide sale. Register for PwC Customs and International Trade team’s First Sale in Detail - Bond fide Sale Requirement webcast to learn about the key considerations companies would need to incorporate into their multi-tiered transaction structure to avoid flash title scenarios and satisfy the other FSFE bona fide sale requirements.
This event is open to USFIA members/affiliates only. Please login to register for free. | $500.00 |
Webinar Event
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