What is Liquidation Notice?
Liquidation Notice An official customs notification issued to an importer or broker, confirming the final calculation, assessment, and closure of duties and taxes for a specific customs entry, signifying completion of post-entry review as per regulatory requirements.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Liquidation Notice” Used in Practice?
The customs authority sent a Liquidation Notice confirming that all duties for entry 123456 had been finalized and closed.
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Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
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What is Liquidation Notice?
An official customs notification issued to an importer or broker, confirming the final calculation, assessment, and closure of duties and taxes for a specific customs entry, signifying completion of post-entry review as per regulatory requirements.
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