Simply, it is a secured place authorized by the federal government, considered to be outside the Customs territory of the United States although they are still under U.S. Customs supervision… Read More
What is a Foreign-Trade Zone?Posted on June 12, 2013
Why do companies use Foreign-Trade Zones?Posted on June 3, 2013
By using a Foreign-Trade Zone, a company can gain a competitive edge over foreign-based competitors. This is done through the reduction of certain operational costs that are incurred when conducting international business.
How do firms benefit from using a Foreign-Trade Zone?Posted on February 22, 2013
Duty Deferral and Avoidance: By using Foreign-Trade Zones, firms defer payment of duty until merchandise enters U.S. Customs territory. Foreign merchandise transiting U.S. ports for foreign designations avoids the payment… Read More
What happens in Foreign-Trade Zones?Posted on February 22, 2013
Storage and distribution. Merchandise that is admitted into an FTZ may be stored indefinitely. It may be unpacked, repacked, displayed, assembled, disassembled, sorted, graded, cleaned, relabeled or even destroyed. It… Read More