U.S. CUSTOMS EXTENDS RECONCILIATION PROTOTYPE

U.S. CUSTOMS EXTENDS RECONCILIATION PROTOTYPE

   U.S. Customs said it will extend the Automated Commercial System’s Reconciliation Prototype indefinitely.

   The prototype was developed by Customs as an automated way to simplify payment of import duties. It allows importers to pay duties on the estimated value of goods at the time of entry, and then follow up 12 to 15 months later with a more accurate figure.

   The program was developed in 1998 as part of the Customs Modernization Act. It was originally scheduled to be a two-year test, terminating Sept. 30, but Customs exercised its option to extend it until further notice.