Bona Fide Sales & Sales for Exportation to the U.S. Explained (VIDEO)

A bona fide sale refers to a legitimate transaction between a buyer and a seller involving the transfer of ownership of goods for consideration, typically money. To qualify as bona fide, the transaction must reflect a true transfer of goods and not just an internal transfer between related parties or entities. CBP examines the terms of the sale to confirm it meets these criteria, considering factors like purchase orders, contracts, and payment terms.

These concepts are critical because they determine whether the transaction value method can be used to establish Customs Value. Incorrect or unsupported claims can lead to compliance issues, penalties, or delays in releasing your goods.

Navigating these requirements can be complex, but we’re here to help. At the Clark-Esposito Law Firm, P.C., we work closely with importers to ensure their transactions meet CBP standards and remain compliant with U.S. regulations. Give our office a call today at (917) 546-6997 or schedule an intake meeting, we would be happy to speak with you.

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