If you’re reading this, you probably know that the world of import and export can be full of confusing information, especially in the current trade climate. ISF is no exception, and has gone through a number of changes since its inception in 2009. At Cordova Brokerage, we have an intimate understanding of ISF rules and guidelines, and wanted to give you a quick overview of how ISF has changed over the decade.
ISF Overview
First, ISF stands for Importer Security Filing, which is simply a filing that details when, where, and how you plan to import goods into the United States. The ISF is usually referenced as a “10+2”, which refers to the information that the importer and carrier have to provide to Customs and Border Protection (CBP). Below are the 10 pieces of data required from the importer, and the 2 required by the carrier:
- Manufacturer (or supplier) name and address
- Seller (or owner) name and address
- Buyer (or owner) name and address
- Ship-to name and address
- Container stuffing location
- Consolidator (stuffer) name and address
- Importer of record number/foreign trade zone applicant identification number
- Consignee number(s)
- Country of origin
- Commodity Harmonized Tariff Schedule number to six (6) digits
From the carrier:
- Vessel stow plan
- Container status messages
This information is largely non-negotiable, and has to be received by CBP no later than 24hrs before the goods are set to leave for the United States, and you can be subject to significant fines if the information is not filed on time or appropriately. That is why we at Cordova Brokerage specialize in ISF, because it can be a complicated and costly process if not done correctly.
Quick History of the ISF
The ISF was first conceived of in late 2008, as a way to more accurately track the flow of goods into the U.S. It was part of the SAFE Port Act, a bill that was signed into law under the Bush administration to bolster maritime trade security and record keeping. The ISF was a pursuant of this bill, but full finings didn’t begin until 2016. Now non-compliance can cost several thousand dollars, which will certainly eat away at any potential profits that exporting/importing can reap. Recently, as of May of 2018, the definition of an ISF Importer was broadened to include non-vessel operating common carriers (NVOCCs), and also to be the goods’ owner, purchaser, consignee or agent. It is important to keep up to date on all the changes to ISF, and we at Cordova Brokerage are bonafide experts when it comes to ISF and shipping. Call us today if you would like more information on filing, or would like to use our services for your goods and cargo.
