Alphabet Soup

EEI, AES, ACE, SED

By now most exporters are quite familiar with electronic export information filing. The old yellow paper SEDs are long gone. Some shippers self file but many rely on their freight forwarders. In either case it is a best practice to audit your submissions on a regular basis to ensure accuracy and avoid fines and penalties.

A common misconception is that EEI and Commercial Invoice value should match. This is actually not correct unless inland freight costs are added to both. Here is the relevant language from 15CFR Part 30.6

(17) Value. In general, the value to be reported in the EEI shall be the value of the goods at the U.S. port of export in U.S. dollars. The value shall be the selling price (or the cost, if the goods are not sold), plus inland or domestic freight, insurance, and other charges to the U.S. seaport, airport, or land border port of export. Cost of goods is the sum of expenses incurred in the USPPI’s acquisition or production of the goods. Report the value to the nearest dollar, omit cents. Fractions of a dollar less than 50 cents should be ignored, and fractions of 50 cents or more should be rounded up to the next dollar.

Ad Hoc Logistics can audit your filings, checking all elements of the EEI for errors. A confidential report will be provided for internal follow up. Contact mitch@adhoclogistics.com for immediate assistance.