DESCRIPTION
Foreign trade zones (FTZs) allow importers to avoid formal entry procedures and duties (payments) due to be paid on foreign merchandize to the U.S. Customs and Border Protection (CBP). On the other hand, bonded warehouses is a secured area or building where importers can store, tweak or manufacture imported dutiable merchandize without paying duty up to five years. FTZs and bonded warehouses are very beneficial for importers and helps in improving inventory management, increasing cash flow, lowering costs and enhancing customs compliance.
However, many importers and logistics providers are not aware of the benefits and opportunities available to them through foreign trade zones and bonded warehouses. Also, depending upon where the product is being sold ultimately – domestic or foreign soil – importers and logistics providers can switch between FTZs or bonded warehouses to derive maximum benefits.
This webinar by international trade expert Douglas Cohen will help businesses dealing with imported merchandize to understand how FTZs and bonded warehouses function and show practical ways to make the best use of them. It will cover several aspects and benefits of foreign trade zones and bonded warehouses and provide insights on how you can start leveraging on these alternative opportunities.
Session Highlights
- Importing into a FTZ or bonded warehouse
- Setting up and operating a FTZ or/and bonded warehouse
- Benefits of utilizing a foreign trade zone (FTZ)
- Advantages of using a bonded warehouse
- What are the activities permitted in a FTZ
- Activities permitted in a bonded warehouse
- FTZ vs. bonded warehouse
- Which one is the best option for your business
- Disadvantages of FTZs and bonded warehouses
Who Will Benefit
- Companies involved in international trade
- Logistics providers
- Importer and exporters
- Manufacturing personnel
- Compliance managers
- Legal departments
- Logistics and shipping personnel
- Chambers of commerce
- Foreign trade offices
- Customs personnel
- Supply chain managers
