US ENTRIES Clause Samples
The "US ENTRIES" clause defines the rules and procedures governing the importation of goods into the United States under the contract. It typically specifies which party is responsible for handling customs documentation, paying duties, and ensuring compliance with US import regulations. For example, the clause may require the seller to provide necessary paperwork or the buyer to clear goods through customs. Its core function is to allocate responsibility for US import compliance, thereby reducing the risk of delays, fines, or legal issues related to customs entry.
US ENTRIES. In the case of an Entry received for credit to an account maintained with Bank (an "On-Us Entry"), Bank shall credit the Receiver's account in the amount of such Entry on the Effective Entry Date contained in such Entry, provided the requirements set forth in this Service Description are met. If said requirements are not met, Bank may use reasonable efforts to credit the Receiver's account in the amount of such Entry no later than the next business day following such Effective Entry Date.