Foreign Trade Zones serve multiple purposes including managing transshipping operations and saving money on manufacturing processing fees. Typically companies use FTZs for exports. However, Foreign Trade Zones can also be used to take advantage of crossdocking and transferring goods from one FTZ to another – often referred to as zone to zone transfers - without … Continue reading “Waived customs duties on zone to zone transfers”
A bill of lading issued by the shipper has transportation information relevant to the movement of goods sent to an importer. This information is important for the importer to begin the filing process for import, as well as other customs processes. As part of the Foreign Trade Zone (FTZ) functionality in SAP Global Trade Services … Continue reading “International Shipments with Customs Waybill”
As an importer, both Bonded Warehouses and Foreign Trade Zones can be financially beneficial when thinking about storage and warehouse distribution. But how do you know which to use and in which circumstances? Let’s take a closer look. Bonded Warehouse Definition A secure building or area (Customs Warehouse) in which dutiable goods can be stored, manipulated, … Continue reading “Bonded Warehouse vs. Foreign Trade Zones (FTZ)”
Most US importers are familiar with duty. They pay duty (and applicable MPF/HMF) on many of their imported goods – particularly those that are not granted 0 duty by virtue of a free trade deal. Unfortunately, too many companies consider this cost a “necessary cost of business” and simply plan for it in their budgets. These … Continue reading “Duty Drawback – Benefits and Challenges”
In the light of SAP GTS 11.0 release featuring Foreign-Trade Zone (FTZ) capabilities, and as we gear up for the NAFTZ conference, we are compiling an FTZ FAQ. If you have additional questions which should be added or simply ones you’d like answered, please let us know! Don’t forget to register for the Annual NAFTZ … Continue reading “FAQ: Foreign-Trade Zone (FTZ)”
