Certified Supply Chain Professional (CSCP) Practice Exam

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Prepare for the Certified Supply Chain Professional Exam with a comprehensive quiz featuring multiple choice questions and essential study material. Gain the knowledge and confidence needed to excel in your certification journey!

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Once the exporter identifies the cargo to a harmonized code, what must the importer do?

Pay additional fees
Declare the value of the cargo
Obtain a shipping license
Contact customs officials

The correct answer is: Declare the value of the cargo

Once the exporter identifies the cargo to a harmonized code, the importer is required to declare the value of the cargo. This step is vital for customs clearance and involves providing accurate information regarding the price of goods being imported. The declared value plays a significant role in determining the duties and taxes that the importer must pay upon the cargo's entry into the country. Accurate declaration is essential to comply with legal requirements and to avoid potential delays or penalties. The harmonized code itself serves as a standardized classification system that helps customs authorities categorize the goods for tariff purposes. With this classification, customs can assess the appropriate rates for duties and taxes based on the declared value. Consequently, accurately submitting this information is crucial for ensuring compliance with trade regulations.