Classification and Valuation
Valuation and Classification Centre
Webb Fontaine Valuation and Classification Centre in the Philippines is the global hub of risk assessment & valuation and classification activities for Webb Fontaine. It is a centralized processing centre for price research, valuation analysis, tariff classification and risk profiling activities.
Its scope allows a comprehensive valuation analysis by comparing prices across several exporting countries and thereby provides a single, uniform and consistent valuation opinion.
Webb Fontaine has been operating Destination Inspection services in Ghana since 2010 over 15% of the imports and has established a Ruling Centre for Côte d’Ivoire Customs where Customs personnel are progressively taking over inspection services (20% additional transactions every year) using Webb Fontaine techniques. This involves a number of capacity building programmes for Customs, undertaken both in Manila and Abidjan on the use of classification and valuation methodologies through Webb Fontaine ValueWebb software. A similar concept where Customs and the company work hand in hand at building a valuation model operated by Customs can be presented to the Client Government.
The Company uses valuation and classification methodologies that are deemed effective in spotting and deterring under-invoicing, under-valuation and misclassification. These activities are carried out by competent staff with experience in Customs valuation, HS Tariff classification, product technical knowledge and equipment appraisal. Staff are also highly knowledgeable in different valuation methodologies such as Agreement on Customs Valuation (ACV), Brussels Definition of Value (BDV), Export Market Price (EMP), and Modified-Brussels Definition of Value (M-BDV).
Among its capabilities are
- transposing raw Customs tariff lines into more detailed product descriptions;
- providing more appropriate HS Tariff classification; and
- providing a range of values such as its valuation opinion on each trade transaction.
Before a valuation opinion is provided, the team utilizes the following sources of information: historical transactions, export market price research, and local retail price research.
Besides Risk Assessment & Final Classification and Valuation Report (FCVR) on each trade transaction, the Centre also provides (for Customs information) a range of export market values.