Customs Clearance Fee
Customs Clearance Fee Definition
The customs broker or customs clearance agent charges a custom clearance fee to cater to the expenses of preparing and filing customs documents. Fees are payable as one price for a bundle of services, as a flat per piece, or as a percentage of the shipment value. The transaction happens at the origin or destination.
Fees differ depending on several factors. The most influential ones are the company of choice, the location, and the various services provided. Despite the additional fees by the clearance agents, clients can save money as they avoid the unwarranted charges and penalties.
Types of Customs Clearance Fees
There are many types of charges that make up the customs clearance fees. They are definite, those one must cater to and those paid for occasionally. The former includes merchandise procession fee (MPF), harbor maintenance fee (HMF) for shipments that enter via the ocean, customs broker fee, and bond premiums.
Bond premiums are payable to a surety company which in turn offers a guarantee that you will issue the Import Security Filing (ISF) and cater for all charges on your merchandise. In addition, charges that are paid from time to time include fees to regulatory agencies, import duties, fines, inspection fees, and any other custom clearance fees related to inspection.