Merchandise that for commercial purposes is identical and interchangeable in all situations. [19 CFR § 191.2(b)] In an FTZ, fungible merchandise may be identified by an inventory method authorized by… Read More
The Foreign-Trade Zones Act of 1934, as amended, and the rules and regulations of the Board promulgated there under.
Reports used in the operation of Foreign-Trade Zones are designated by Customs. These reports may be completed by either the Operator/User as the Importer of Record, its duly assigned Customhouse… Read More
A number assigned by the Foreign-Trade Zones Board at the time of approval of the zone grant.
The Foreign-Trade Zones Board was created by the Act to carry out provisions thereof. The FTZB consists of the Secretary of Commerce, who is the chairman and executive officer, and… Read More
A restricted-access site, authorized by the FTZB and supervised by Customs (19 CFR §146) where companies can use special Customs procedures prior to entry for consumption. Zones are located in… Read More
Imported merchandise of every description (except articles specifically and absolutely prohibited by statute) that has not been released from U.S. Customs custody into the U.S. Customs territory. Imported merchandise upon… Read More
An accounting method based on the assumption that foreign status merchandise is decremented first.
The method by which fungible merchandise or articles are identified by recordkeeping on the basis of the first merchandise or articles received into the inventory. Under this method, withdrawals are… Read More