Customs and Trade Planning: Six Ways to Reduce Costs
1. Harmonized System Analysis
Analyze your product line to identify duty increases so prices can be adjusted well in advance.
2. Binding Rulings
Where prices are sensitive, negative Customs determinations relating to product classification for duty purposes can be disastrous. Petition Customs Headquarters in advance for a favorable binding ruling on product classification.
3. Liquidated Duty Increases
When Customs sends you a liquidation notice for increased duties, determine if the increase is justified.
4. Challenge Duty Increases with Protests and 520 (c) Petitions
Customs can exact additional duties months or even years after your merchandise is
released. Challenge improper duty increases so that a profitable transaction does not become a losing one.
5. Product Marking Analysis
Customs can wreak havoc with importer delivery schedules for allegedly faulty or inadequate country of origin marking. Analyze product and package marking before your suppliers mark your merchandise, so that costly marking adjustments in the United States can be avoided and delivery commitments fulfilled.
6. Drawback
There are many types of drawbacks available. An importer can export and recoup 99% of original duties paid.
For more information to help you save time and money, please contact our customs brokerage us today:
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