Regulations last checked for updates: May 15, 2024

Title 15 - Commerce and Foreign Trade last revised: May 10, 2024
§ 904.503 - Appraisement.

NOAA may appraise seized property to determine its domestic value. Domestic value means the price at which such or similar property is offered for sale at the time and place of appraisement in the ordinary course of trade. If there is no market for the seized property at the place of appraisement, the value in the principal market nearest the place of appraisement may be used. If the seized property may not lawfully be sold in the United States, its domestic value may be determined by other reasonable means.

[87 FR 38942, June 30, 2022]
authority: 16 U.S.C. 1801
source: 71 FR 12448, Mar. 10, 2006, unless otherwise noted.
cite as: 15 CFR 904.503