Risk assessment in customs procedures is a tricky process. Customs systems must evaluate each shipment and determine its risk level.
What if there was a Credit Score system that could help customs evaluate the importer to determine the risk?

A credit score is a numerical value assigned to an individual or organization that reflects their creditworthiness. Scores are based on factors such as payment history, credit utilization, length of credit history, and type of credit.

The potential of an importer credit score system

Similarly, an importer’s credit score could rely on various characteristics such as their payment history with suppliers, their record of meeting customs regulations, and their trade agreements compliance level. Customs officials and other stakeholders could use this score to assess the risk associated with import shipments for the importer.

A glance at the US-Mexico trade shows that some of the most frequently imported products from Mexico to the US include automobiles, crude oil, computers, and electrical machinery. Here are the HS codes for these products:

Automobiles: HS code 8703.23 or 8703.24
Crude oil: HS code 2709.00
Computers: HS code 8471.41 or 8471.49
Electrical machinery: HS code 8501.31 or 8501.40
It’s important to note that the HS codes for specific products vary based on the materials used or the product’s purpose.
To ensure the correct classification of goods and the use of appropriate HS codes when importing from Mexico to the US, you should consider consulting with a customs broker or other professional.