There are several programs available to importers that can facilitate the importation process and save money. Although it may seem daunting if you haven’t tapped into these programs before, it is well worth making use of them as the cost savings can be substantial.
The following programs can be of great benefit to U.S. importers:
Duty Drawbacks
Importers can obtain a refund of duties paid upon importation of goods if those goods are subsequently exported from the U.S. in the same condition or as a component of manufactured goods.
Trade Agreements
Trade agreements such as NAFTA reduce or eliminate duty on certain products imported into the U.S. Importers wishing to take advantage of these agreements need to ensure their goods are eligible and that their importations comply with all requirements of those trade agreements.
Binding Rulings
The binding ruling program enables importers to get binding pre-entry classification decisions from CBP prior to importing a product. This program can also be used to get binding guidance about CBP regulations pertaining to country of origin marking requirements. The program helps avoid delays in getting your goods cleared through customs and minimizes your chances of receiving a CF 28 (Request for Information from CBP).
Continue on to Chapter 4: Importing into the U.S. here.
Utilizing programs such as duty drawbacks, trade agreements and binding rulings can save your company time and money. Talk to our trade consultants and learn how to make the most of the tools available to facilitate the movement of goods through U.S. Customs.
Information provided by: U.S. Customs Consulting Dept. - Cole International