§ 904.503 Appraisement.

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Title 15 CFR: Commerce and Foreign Trade › Chapter IX: NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, DEPARTMENT OF COMMERCE › Part 904: CIVIL PROCEDURES › Subpart F: Seizure and Forfeiture Procedures › § 904.503: § 904.503 Appraisement.

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

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]

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