Reconciliation

Case Study

J.M. Rodgers implemented and managed a complex reconciliation program, avoiding tens of thousands in potential fines and penalties for its customer.

Client

An importer of high-end consumer products and accessories.

Challenge

An importer was bringing in products from one supplier whose values would vary due to market variances after their entry to the United States. In order to avoid fines or penalties, they needed to find a broker that could not only clear their shipments but use the Customs “reconciliation” program to ensure that their proper duties were eventually paid.

Solution

J.M. Rodgers created a detailed plan to file reconciliation entries on applicable underlying consumption entries. We obtained the Master Extract from CBP and Liquidation Extract reports from the client as necessary to ensure all flagged entries were accounted for and captured.

JMR managed all reconciliation entry filings. Our brokers would pro-rate lump sum values, compute all applicable interest rates, and then provide summary reports to reflect all value proration and disbursements – by entry, HTS numbers, value, and filer codes. Once calculated, we remitted additional duties due to CBP per outlay terms as approved.

Results

The client was able to rely on J.M. Rodgers to implement and manage a complex reconciliation program, avoiding tens of thousands in potential fines and penalties for misfiled duty payments.

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A Tradition of Excellence

J.M. Rodgers Co., Inc. is a family-owned and operated business with a rich tradition of serving and providing unparalleled support to our valued customers. In operation since 1952, J.M. Rodgers Co., Inc. is a recognized leader in global logistics specializing in Customs Brokerage, Freight Forwarding, and Duty Drawback.

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Find Out If You Qualify For Duty Drawback

 If you or your business imports and export goods to and from the United States, it’s possible that  you may qualify for duty drawback, which is a 99% refund on goods imported into the United States that are subsequently exported. Even if you don’t do both, you may still be able to qualify as long as importing and exporting happen along your supply chain.