Triple damages

Triple damages

For FDA regulated products, the amount of liquidated damages assessed by Customs against the lot(s) not redelivered upon Customs demand is, at this printing, triple the amount of the lot value used by Customs to determine the rate of duty, taxes, etc.

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Part of Speech: noun
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Industry/Domain: Life Sciences
Category: Regulatory
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Related terms

triple damages

Life Sciences; Regulatory

For FDA regulated products, the amount of liquidated damages assessed by Customs against the lot(s) not redelivered upon Customs demand is, at this printing, triple the amount of ...

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