When should an appraisement entry be made?

An appraisement entry should be made when the value of the goods is unknown. This process involves determining the correct value for customs purposes, particularly when the necessary documentation to establish a valuation is lacking or if there is uncertainty about the valuation methods. It is essential for customs compliance to ensure that the valuation reflects the fair market value of the goods being imported.

When the value is known, there would typically be no need for an appraisement entry because the importer can provide the correct and complete documentation. The same applies to situations where shipments contain perishables or if customs specifically requests an appraisement; these do not inherently necessitate an appraisement entry unless value uncertainty is involved. Hence, the timing of the entry is specifically tied to the situation where the value cannot be determined without additional information or assessment.