QUESTION: Can an 06 Weekly FTZ entry be updated prior to 10th day, once it has been transmitted? I am aware that the Weekly Estimate Cargo Release can not be, but I am uncertain about the Entry Summary. ========== Answer: Yes, it is possible to update an 06 Weekly FTZ Entry once it has been […]
QUESTION: The company I work for buys parts from our related party and sells domestically. These specific parts have extremely long lead times and we are looking to better service our domestic customer by having these parts in-stock domestically upfront instead of having to place a PO with our related party once our customer needs […]
QUESTION: Are there any other manufacturer-importers that have suspended their FTZ operations due to the Transportation & Logistics challenges as a result of the pandemic? We are finding that because our consumption entries have increased so significantly, and we are doing far fewer FTZ Admissions, that the Administrative costs for running the FTZ have exceeded […]
QUESTION: My company is about to become users of someone else’s ftz. Do we need to get an additional bond—on top of one we already have for imports—for our entries into and out of FTZ? **************** Answers: The best person to ask is your bonding company. They know your business best and you should openly […]
QUESTION: How long does it take to get approval from customs for a bonded warehouse? For an FTZ? If I bring raw materials into a bonded warehouse or FTZ and manufacture a new article of commerce within the bonded warehouse or FTZ, (substantial transformation), (not simple assembly, but real manufacturing) what is the origin of […]
QUESTION: If we brought goods into our FTZ (properly admitted, etc) but then exported them without any removal paperwork (7512, etc), what’s our penalty exposure? Just $1000 or do we have other things to be wary of? ========== Answers: You could be sited for liquidated damages for unauthorized release, which may be mitigated down. It […]
QUESTION: Is there anywhere with a general overview stating the costs of applying for a FTZ, yearly costs/fees to operate/maintain the FTZ once approved? ========== Answer: Yes – you can go to the FTZ Board website – and to the OFIS section, determine what county your zone will be in and select the proper zone/grantee, […]
QUESTION: Do FTZs offer any relief whatsoever from 301 duties? I keep finding this language, first published by CBP, and then reproduced by several law and consulting firms: Per the Federal Register Notice published by the USTR, any product covered by the Section 301 remedy … only may be admitted as “privileged foreign status” as […]
QUESTION: If we brought goods into our FTZ (properly admitted, etc) but then exported them without any removal paperwork (7512, etc), what’s our penalty exposure? Just $1000 or do we have other things to be wary of? ========== Answers: You could be sited for liquidated damages for unauthorized release, which may be mitigated down. It […]
QUESTION: We have 2 distribution centers within 30 miles of each other, and both are considered to be one FTZ. Each DC has a different site number, but still only have one zone number. Many of our ocean containers are split between the 2 DC’s, and we have permission from CBP to unload at the […]
QUESTION: We have a contract with a client to provide equipment for their refinery upgrade. The contract stipulates that we are to be the IOR for the equipment purchased. The client established the refinery site as a production FTZ after the contract was issued so the contract does not address this situation nor was the […]
QUESTION: Do any of the members have a detailed checklist to follow for FTZ Deactivation? I believe I know the basics: notify Port Director, Move all Goods out or to Domestic Status with Consumption Entry, Perform basic Final Accounting, Remove signs, Deactivate E-Mails, Terminate FTZ Bond, Allow CBP to do final walkthrough. Am I missing […]
