Dear Readers,
Good day!
Please see attached memorandum from the Bureau of Customs (Documentary Requirements for the Accreditation of Importer) dated 4 December 2018 reiterating the strict compliance with the updating of List of Importables (LOI) to Account Management Office (AMO) according to CAO 11-2014. The said provision regarding LOI provides;
- “d. List of Expected Imports, including, if possible, clear description in both technical and tariff terms, estimated volume and values for the incoming 12 months.”
Further, according to the memo, BOC officer will cross-check the LOI before proceeding to process the goods declaration and report directly to the Office of the Commissioner those found to be inconsistent with their respective LOIs.
To avoid any delays or possible penalties, we suggest strict adherence in updating your company’s LOI as it may take some time to have it approved by the Commissioner. Please note that approval from Commissioner must be secured prior to importation of those commodities covered by the additional list.
For any clarifications or assistance in the aforementioned memorandum, please feel free to contact us anytime.
Thank you.
WorldTrade Consultants, Inc.
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