What is Binding Tariff?
Binding Tariff A legally binding decision by customs authorities determining the tariff classification of goods for import/export, usually in the form of a Binding Tariff Information (BTI) ruling.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Binding Tariff” Used in Practice?
The customs authority issued a binding tariff information ruling for the imported machinery, which will apply to all future shipments of the same goods.
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Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
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What is Binding Tariff?
A legally binding decision by customs authorities determining the tariff classification of goods for import/export, usually in the form of a Binding Tariff Information (BTI) ruling.
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