As part of my studies relating to the Diploma in World Customs Compliance, I am in the process of reading The Handbook on the WTO Customs Valuation Agreement and I was wondering if you clarify a couple of points.

1. When we export an item as a warranty replacement we declare the full value of the item as it would be on a sales order. Is this correct?

2. When we export an item that has been repaired out of warranty, do we declare the repair cost and the actual value of the item or just the repair cost?

3. When we import an item that is coming back for repair, some exporters only put a nominal value on the invoice; however, when we clear the goods for import we tend to declare the full market value of the item. Is this correct?

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