A Foreign Trade Zone
(FTZ) can provide a wealth of import and export benefits. The impact on a business leveraging an FTZ
can be significant with results across many areas. Vision Consumer Products Fulfillment has
extensive experience and expertise with setting up and managing a FTZ.
In this article the statistics for
Foreign Trade Zone 43, located at the U.S. Customs and Border Protection Port
of Battle Creek, pointed to significant growth in volume in 2015. It presents clear and objective success
pointing to the impact on commerce
through the utilization of a Foreign Trade Zone.
The benefits of an FTZ are clear. The article mentions these specific points:
- Reduce or eliminate tariffs: It is not uncommon for parts or raw materials to have a higher duty rate than the final product. Within an FTZ, companies may select the lower duty rate when the product leaves the zone. Sometimes, duty is altogether eliminated.
- Delay duty: Distribution firms may warehouse imported goods for extended periods. No duty is owed to U.S. Customs until the merchandise leaves the zone. If goods are exported, no duty costs apply. There is no time limit for merchandise remaining in a zone.
- Reduce paperwork and Customs processing fees: FTZs allow a company to notify Customs about shipments on a weekly basis. With Customs approval, frequent importers using Weekly Entry procedures can accrue a substantial savings.
- Improve logistics: FTZs are considered a best practice by the Customs-Trade Partnership Against Terrorism, permitting direct delivery of containers to zones.
Many other benefits can also be explored on the Vision
CPF website here. Check them out!
Vision Consumer Products Fulfillment is a certified General
Purpose Foreign Trade Zone - #276. We are members of the National
Association of Foreign Trade Zones, and we’re one of the few certified General
Purpose Foreign Trade Zones in the Southern California area.
If you’re looking to take advantage of the benefit of doing
business in a Foreign Trade Zone,
Vision Consumer Products Fulfillment can help.
Let us share with you how implementing and managing a Foreign Trade Zone
warehouse, with Vision as your partner, can significantly impact your bottom
line.
Vision Consumer Products
Fulfillment has decades of experience and industry expertise in consumer
products fulfillment services. No
matter who your customer is, we treat your customer as our own. We know what makes a raving fan out of an
individual customer, as well as what makes a business partner trust you with
their business. Call or email us to
learn how. We’re certain we’ll be the best
fulfillment warehouse partner you have ever had!