If you import products into the United States, familiarity with the Foreign-Trade Zones (“FTZ”) can save your company millions of dollars. FTZs are considered to be outside the customs territory of the United States, a legal fiction that empowers the importer to take advantage of numerous tariff and entry benefits. The FTZ program enables you to import items into the zone free of charge where you can combine them into manufactured products to affect a lower “inverted” tariff when they are entered for consumption in US customs territory.
Importers can also export products directly from the zone without having paid tariff and/or store the products in the zone for an unlimited amount of time until you are ready to withdraw them for either entry into US customs territories or direct exportation from the zone.
This dynamic, interactive course will familiarize you with the key benefits of a foreign trade zone, what can and cannot be done in a zone, their advantages and disadvantages, and operational issues that are key to whether you seek to set up a new zone or instead, aim at streamlining operation in an existing zone.
Key topics include:
- How to take advantage of a zone;
- Using a zone or subzone:
- Restrictions on zone merchandise;
- Permissible perations in a zone on products, components or materials brought into it;
- Administrative and recordkeeping obligations for zone users;
- Foreign trade zones and their different requirements around the world.
This course is fun, interactive and provides you with enough knowledge about foreign trade zones to apply for a new one or negotiate to join an existing zone. Learn how to save millions of dollars for your company!