As provided in the regulations, the refiner files an amended CF 7501 for each week based on the refiner's actual weighted average values for the month, as shown below. RECONCILIATION OF WEEK 1 USING MONTH'S END ACTUAL WEIGHTED AVERAGE VALUES $32.189 (8) Avg Value/Bbl Crude Consumed = $16,688,578 518,454 Note: No change in amended total duties, because duty is computed on total quantity of class III crude used. The difference is amongst the various products, i.e., estimated weekly CF 7501 duties paid for Motor Gasoline was $2,317, while the reconciled amount as shown above is $2,298. Additional duties owed or refunds due would depend on the reconciliation of the weekly entry as an entirety. VII. WEEKLY ENTRY, MONTHLY MANUFACTURING PERIOD, RELATIVE VALUES CALCULATED ON PRIOR MANUFACTURING PERIOD'S ACTUAL WEIGHTED AVERAGE VALUES. THE PRIOR PERIOD (PP) VALUES ARE SET FORTH BELOW: Thereafter, the information provided or both the CF 3461 and CF 7501 filed for each weekly entry with respect to relative values would remain the same. The only estimated amount would be the quantity to be removed on the CF 3461 as shown below. On the CF 3461 the refiner estimates the following shipments and uses a prior manufacturing period's actual weighted average values. Attributed Feedstock-Class III Crude: 615,000 @ $.105 = $64,575 (estimated duties) At the end of the month, the refiner must calculate its actual weighted average values for use in the subsequent period. Avg. Value/Barrel Crude Used=$74,275,937+2,307,423=$32.19 (8) Note: Actual monthly reconciliation data could result in attributions on a product basis that are less than or greater than weekly distributions. This is due to the "weighing" of the data i.e., motor gasoline on a weekly basis was $10,996 as compared to $10,379 as above. No additional duties are due to the averaging. This part governs the entry of merchandise intended for exhibition or for use in constructing, installing, or maintaining foreign exhibits at trade fairs which have been so designated by the Secretary of Commerce. It also contains provisions concerning Customs supervision of the merchandise, and the disposition of the merchandise after the fair has closed. The entry of articles which may be admitted free of duty under other provisions of this chapter may be governed by those provisions rather than the regulations in this part. Subpart A-General Provisions $147.1 Definitions. The following are general definitions for the purposes of part 147: (a) The Act. "The Act" means the Trade Fair Act of 1959. (Secs. 2-7, 73 Stat. 18, 19; 19 U.S.C. 1751-1756.) (b) Fair. "Fair" means a fair, exhibition, or exposition designated by the Secretary of Commerce pursuant to the Trade Fair Act. (c) Fair operator. "Fair operator" means the party named by the Secretary of Commerce as the operator of the fair. (d) Port. "Port" means the port at which the fair is to be held, or if the fair is not to be held within the limits of a port, the port nearest to the location of the fair. (e) Closing date. "Closing date" means the date designated by the Secretary of Commerce as the date when the fair will close, including any extension granted by the Secretary of Commerce, or, if the fair closes earlier, the date on which the fair actually closes. (f) Articles for a fair. "Articles for a fair" includes, but is not limited to: (1) Actual exhibit items; (2) Pamphlets, brochures, and explanatory material in reasonable quantities relating to foreign exhibits at a fair; (3) Material for use in constructing, installing, or maintaining foreign exhibits at a fair. [T.D. 70-134, 35 FR 9268, June 13, 1970, as amended by T.D. 82-145, 47 FR 35478, Aug. 16, 1982] § 147.2 Articles which may be entered for a fair. (a) General. Any article imported or brought into the United States may be entered under bond under the regulations of this part for the purpose of exhibition at a fair, or for use in constructing, installing, or maintaining foreign exhibits at a fair, if no duty or internal revenue tax has been paid, and the article is: (1) In a foreign-trade zone; or (2) Imported for exhibition under Chapter 98, Subchapter XII, Harmonized Tariff Schedule of the United States; or (3) In continuous Customs custody, including but not limited to articles: (i) Imported or brought into the United States for the purpose of direct entry at a particular fair; (ii) In Customs bonded warehouses; |