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(NAR) VOL.8 NO. 3 / JULY - SEPTEMBER 1997
[ BOC CUSTOMS MEMORANDUM ORDER NO. 27-97 A, September 17, 1997 ]
AMENDMENTS TO CMO NO. 27-97 ON INSURANCE PREMIUMS FOR PURPOSES OF ASSESSMENT OF IMPORTS
Items No. 2 of CMO No. 27-97 shall read as follows:
"2. If, however, the terms of sale is C & F or FOB and the importer can present a certification from the local insurance/surety firm on the insurance premium paid, then that amount will be used or, ½% of export value, whichever is higher. In all cases, the higher amount shall be used regardless of the amount appearing in the CRF."
Adopted: 17 Sept. 1997
"2. If, however, the terms of sale is C & F or FOB and the importer can present a certification from the local insurance/surety firm on the insurance premium paid, then that amount will be used or, ½% of export value, whichever is higher. In all cases, the higher amount shall be used regardless of the amount appearing in the CRF."
Adopted: 17 Sept. 1997
(SGD.) GUILLERMO L. PARAYNO, JR.
Commissioner
Commissioner