[Code of Federal Regulations]
[Title 19, Volume 2]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 19CFR162.43]

[Page 250]
 
                        TITLE 19--CUSTOMS DUTIES
 
  CHAPTER I--UNITED STATES CUSTOMS SERVICE, DEPARTMENT OF THE TREASURY
 
PART 162--INSPECTION, SEARCH, AND SEIZURE--Table of Contents
 
               Subpart E--Treatment of Seized Merchandise
 
Sec. 162.43  Appraisement.

    (a) Property under seizure and subject to forfeiture. Seized 
property shall be appraised as required by section 606, Tariff Act of 
1930, as amended (19 U.S.C. 1606). The term ``domestic value'' as used 
therein shall mean the price at which such or similar property is freely 
offered for sale at the time and place of appraisement, in the same 
quantity or quantities as seized, and in the ordinary course of trade. 
If there is no market for the seized property at the place of 
appraisement, such value in the principal market nearest to the place of 
appraisement shall be reported.
    (b) Property not under seizure. The basis for a claim for forfeiture 
value or for an assessment of a penalty relating to the forfeiture value 
of property not under seizure is the domestic value as defined in 
paragraph (a) of this section, except that the value shall be fixed as 
of the date of the violation. In the case of entered merchandise, the 
date of the violation shall be the date of the entry, or the date of the 
filing of the document, or the commission of the act forming the basis 
of the claim, whichever is later.

[T.D. 72-211, 37 FR 16488, Aug. 15, 1972, as amended by T.D. 79-160, 44 
FR 31957, June 4, 1979; T.D. 85-123, 50 FR 29956, July 23, 1985]