What are foreign trade zones?
Legally, a Foreign-Trade Zone (FTZ) is an area within the United States that the Government considers outside the country, or at least, outside the U.S. Customs territory.
Why do foreign trade zones exist?
Foreign Trade Zones were established under the Foreign-Trade Zones Act of 1934 to facilitate trade and increase the global competitiveness of U.S.-based companies.
Who benefits from an FTZ?
If your company does, or may require, any of the following, you may want to consider using IDS, Inc. in FTZ #136:
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Import merchandise needing inspection, (re)labeling, repair, sorting, destruction, (re)packaging, testing or cleaning.
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Assembling, manufacturing or manipulating of goods consisting of foreign and/or domestic merchandise.
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Import merchandise requiring storage for an uncertain period of time.
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Import merchandise for the purpose of display to potential buyers.
Advantages:
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Reduction of Customs documentation paperwork can be time saving to your business.
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Domestic & foreign goods admitted to a zone may defer from Customs' duties or certain excise taxes until they are transferred from the zone into the Customs territory for consumption.
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Good may be exported from a zone free of duty and tax.
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What are Container Freight Stations?
Container Freight Stations (CFS) are bonded locations designated for devanning of containerized cargo for inspection, either by Customs or client. With a 15 day window, clients can determine if goods will be exported, entered into the zone or returned without duty paid, or cleared for entrance into the country.
