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2003 Press Releases
Dear valued customers,
"Post-Payment Clearance' took effect as of March 1, 2003, in accordance with Customs Notification 2003-1 (dated January 22, 2003), "Notifications Pertaining to Express Shipment Clearance Process". Federal Express will adopt the new process in Duty/Tax payment from June 2, 2003 as follows;
1. Changes in Process
To facilitate customs clearance FedEx currently makes payment of duty/tax to Customs on behalf of you, the customer, whom in turn reimburses to FedEx. Under Post-Payment Clearance process, your shipments will be cleared first, followed by Duty/Tax payment directly to Customs within 14 days’ grace period.
2. Applicability
Express shipments with declaration values between US$60 ~ US$600 requiring customs informal entry. (Some items in this category may not be applied under Customs regulation.)
3. Duty/Tax Payment Procedures
A Payment Notification slip will be delivered together with your packages. You are required to make a direct payment to the designated Customs bank account. Please note that payment must be made to Customs within a 14 days' grace period from the date of payment notification. Upon confirmation of payment, we will fax duty/tax VAT receipt to you. Should payment NOT be made within the given time frame, you may be placed on a disadvantageous Customs Management List. In addition, please keep in mind that you will be invoiced a surcharge of late payment (3,340 Won or 2% of Duty/Tax due, whichever is greater).
Please contact our FedEx Clearance Team at 032-744-6114 if you have any questions. We hope that with this change, we will provide more satisfactory services for our valued customers.
Thank you for choosing Federal Express.
Charles L. Arena
Representative Director
Federal Express Korea
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