Agreement on Customs Valuation definition
Examples of Agreement on Customs Valuation in a sentence
Each Party, through its customs administration or other relevant authorities, to the extent permitted by its domestic laws, regulations and administrative determinations, on the application of a person described in Paragraph 2(a), shall provide in writing advance rulings in respect of the tariff classification, questions arising from the application of the principles of the Agreement on Customs Valuation and/or origin of goods.
Note: In the case of the Kingdom of Cambodia, the Agreement on Customs Valuation, as implemented in accordance with the provisions of the Protocol on the Accession of the Kingdom of Cambodia to the World Trade Organization, shall apply, mutatis mutandis.
Each Party shall determine the customs value of goods traded between the Parties in accordance with Part I of the Agreement on Customs Valuation.
FOB referred to in subparagraph 2(a) shall be the value: (a) adjusted to the first ascertainable price paid fora good from the buyer to the producer of the good,if there is free-on-board value of the good, but itis unknown and cannot be ascertained; or (b) determined in accordance with Articles 1 through 8of the Agreement on Customs Valuation, if there isno free-on-board value of a good.
The Parties shall determine the customs value of goods traded among them in accordance with the provisions of the Agreement on Customs Valuation.
If a Party is a developing country and not a WTO Member, it may apply the provisions of the Agreement on Customs Valuation to the extent of its capacity, provided that if a problem arises from the application of a specific valuation procedure, it engages in bilateral consultations on request of another Party with an interest in a good to which that valuation procedure has been applied, with a view to finding a mutually agreed solution.
This is a fee charged by inspection companies for services rendered, and it emanates from the Implementation of the WTO Agreement on Customs Valuation and Destination Schemes.
Subject to paragraph 2, each Party shall apply the provisions of Article VII of GATT 1994 and the Agreement on Customs Valuation, including the Interpretative Notes at Annex I to that Agreement, in determining the value for customs purposes of goods traded between the Parties.
The value of a material used in the production of a good in the territory of a Party shall be the C.I.F. value and shall be determined in accordance with the Agreement on Customs Valuation, or if this is not known and cannot be ascertained, the first ascertainable price paid for the material in the Party.
The Agreement on Implementation of Article VII of the GATT 1994 ("WTO Agreement on Customs Valuation") shall govern customs valuation rules applied to trade covered by this Agreement.