Many importers assume that if they utilize a Foreign Trade Zone (FTZ), duty drawback becomes unnecessary. In reality, both programs can effectively complement each other, maximizing savings and optimizing supply chain efficiency. Both mechanisms provide legal means to...
Last week, due to their court-imposed deadline, CBP released the final Duty Drawback Regulations (Modernized Drawback). These regulations institute the new processes for drawback pursuant to the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA). This was a...
If you work at a business that is contemplating or currently involved in the import of goods to the United States, then you will become unavoidably familiar with the complex system used for classification of your goods for import or export. The United States uses the...
While accurate record keeping might seem an obvious goal for companies with an international supply chain, it remains astonishing how many millions of dollars companies forfeit every year in fines and duty drawback due to flawed, missing or improper record keeping....
Tariffs remain the favored tool of international pressure in the Trump Administration, having put several waves of tariffs tallying in the billions into effect these last few months. These sweeping declarations have targeted commodity categories and imports from...
We Collect the Drawback Data…You Get the Refund! Each week I have been writing to you to give you updates about the changes happening within our industry, but this week I will keep it quick. I want to introduce to you our concept of “matching drawback.” JM Rodgers has...
