FOREIGN TRADE ZONE
A Foreign Trade Zone (FTZ) is a restricted access site authorized by the Foreign Trade Zones Board, which consists of the Secretary of Commerce and the Secretary of the Treasury. FTZs, upon activation under regulations of the U.S. Customs Service, are secured areas under U.S. Customs supervision and are located in or near a U.S. Customs recognized port of entry. Customs entry procedures do not apply even though FTZs are within the territory and jurisdiction of the United States.
Why use a Foreign Trade Zone?
For businesses involved in, or gearing up for international trade, a Foreign trade Zone can offer great benefits:
- Take advantage of the Weekly Entry File program and save huge on MPF.
- Defer duties on your rejects or returned defective imported items.
- With over 70,000 sq. ft. APEX Diversified Solutions can lessen the hassles and save you money.
FOREIGN TRADE ZONE
Eliminate Duties and Quota Charges: In an FTZ, Customs duties and quota charges are not paid on merchandise exported.
Defer Customs Duties and Federal Excise Taxes: On imports, Customs duties and taxes can be delayed until merchandise is transferred into US Customs territory. lmporters can store goods in an FTZ indefinitely without paying duty. lRS and government excise taxes are charged only when they are entered into US Commerce.
No Duty on Waste: Products that arrive damaged can be returned, stored in the FTZ or destroyed without having to pay duty or taxes.
Improve Cash Flow and Profitability: through special Customs procedures such as Weekly Entry and Weekly Exports, companies can save on Customs transaction fees and expedite shipments out of an FTZ, thus improving their competitiveness.
APEX can help you navigate the Foreign Trade Zone environment, and help you understand how a zone may compliment your supply chain strategy. Contact us at 915-242-0080 to discuss your specific needs.
Serving as a Customs Brokerage and as a Foreign Trade Zone warehouse facility, we can provide 3rd party zone distribution services. In addition, as a Customs broker, we can provide documentation support for all Customs requirements including forms 214, 216, 3461, 7501 and others.
As a consultant, APEX has the experience and knowledge to help you with feasibility analysis to determine whether you should operate your manufacturing and/or distribution from within a Foreign Trade Zone, and the potential cost saving opportunities. With all that said we serve as a strong Customs Brokerage and feel confident that we can serve you in all ways regarding logistics.