What are fungible materials?
Fungible materials are identical materials you can't tell apart once they're mixed, like steel coil from two mills or grain in one silo. When some originate and some don't, you can split them by an inventory method instead of keeping them physically apart.
How it works
Most agreements accept recognised inventory methods, such as first in first out or averaging, as long as you use one consistently. The EU and the UK call this accounting segregation, and under some of their agreements you need customs' permission before you use it.
Where you'll find it. The article it's in, agreement by agreement.
- USMCAFungible materials, Article 4.13
- CAFTA-DRFungible materials, Article 4.7
- CPTPPFungible materials, Article 3.12
- RCEPFungible materials, Article 3.11
- ATIGAFungible materials, Article 37
- ACFTAFungible materials, Article 13
- PEM ConventionFungible materials, Article 12
- CETAFungible materials, Article 10
- EU–Japan EPAFungible materials, Article 3.8, as accounting segregation
- EU–Korea FTAFungible materials, Article 11
- EU–Mercosur iTAFungible materials, Article 3.10, as accounting segregation
- EU–SADC EPAFungible materials, Article 16, as accounting segregation
- EU–UK TCAFungible materials, Article 50
- EU–Vietnam FTAFungible materials, Article 11
- UK–Canada TCAFungible materials, Article 10
- UK–Japan CEPAFungible materials, Article 3.8, as accounting segregation
- UK–SACUM EPAFungible materials, Article 16, as accounting segregation
- UK–Vietnam FTAFungible materials, Article 11
- US–Australia FTAFungible materials, Article 5.7
- KORUSFungible materials, Article 6.7
- US–Singapore FTAFungible materials, Article 3.8
- Canada–Colombia FTAFungible materials, Article 308
- Canada–Indonesia CEPAFungible materials, Article 3.8
- Canada–Korea FTAFungible materials, Article 3.9
- Canada–Ukraine FTAFungible materials, Article 3.9
- EU GSPFungible materials, Article 58
- UK DCTSFungible materials, Regulation 25
- Canada GPTFungible materials, Section 3(1)