A Luncheon Seminar

Conducted by

Kurt Kapota
Assistant V.P and Branch Manager
Panalpina, Inc.

and

Eugene Schreiber
Managing Director
World Trade Center of New Orleans

Wednesday, March 28

12:00 Noon - 2:00 p.m.
(11:30 a.m. cash bar networking reception)
The Plimsoll Club, 30th Floor
World Trade Center of New Orleans
(Free validated parking in the WTC Garage)

Since 1790, U.S. Customs has collected ship manifests to gather information on the products being exported from the United States. In 1820, the Shipper’s Export Declaration (SED) was devised to improve upon the quality and details of the information collected.

U.S. exporters making export shipment of goods valued greater than $2,500 are required to complete an SED and deliver it to the exporting carrier with the merchandise at the port of exportation; the exporting carrier then files the SED with U.S. Customs (the only exceptions are shipments to Canada). Moreover, if an export shipment requires an export license, the $2,500 figure does not apply and the exporter must obtain the export license prior to shipment and complete and file the SED for all shipments to all authorized countries including Canada.

Last fall the U.S. Bureau of Census revised the SED; seven new fields have been added and three existing fields have been modified (there are now 31 fields to complete). The new SED incorporates several important new concepts, including "U.S. principal party in interest" (instead of the previous "exporter") and "routed transactions" for foreign companies which export from the U.S. The changes in the SED are especially important when the terms of sale are "Ex Works" (INCOTERMS) or "FOB Factory" (Uniform Commercial Code). ALL U.S. EXPORTERS ARE REQUIRED TO USE THE NEW SED STARTING APRIL 1, 2001. This seminar will explain the revised SED form and go through each of the 31 fields. The SED also can be filed electronically (AES) and on a free Internet service (AES Direct); these methods of filing will also be covered at the seminar.