[Code of Federal Regulations]

[Title 19, Volume 2]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 19CFR162.43]



[Page 250]

 

                        TITLE 19--CUSTOMS DUTIES

 

   CHAPTER I--BUREAU OF CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF 

        HOMELAND SECURITY; DEPARTMENT OF THE TREASURY (CONTINUED)

 

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]