Extract to table

And the obligation must be "known" — not uncertain, unsettled, or subject to reasonable dispute

Oceanos must therefore demonstrate, on the balance of probabilities, that TSL deliberately disregarded a known legal obligation regarding tariff classification

" This exclusion has two distinct elements, both of which must be present for the exclusion to apply

Second, the undervaluation must have been undertaken "for the purpose of reducing customs duties payable" — that is, there must be a specific duty-reduction motive animating the insured's valuation decision

Both elements must be established by the insurer, as the party asserting the applicability of a policy exclusion

TSL excluded the license fees from the declared customs value of the imported equipment based on the reasonable position that these fees are not "royalties and licence fees related to the goods being valued that the buyer must pay, either directly or indirectly, as a condition of sale of the goods being valued" within the meaning of Article 71(1)(c) of the UCC