Foreign Trade Zone
The Foreign-Trade Zone (FTZ) program was created by the U.S. government in the 1930’s to encourage international trade and the U.S. competitiveness and that still holds true today.
An FTZ is a zone designated by CBP and considered to be outside the territory of U.S. Customs & Border Protection but within the U.S. where foreign and domestic merchandise is held under an FTZ bond. Customs duties and excise taxes are due only when the merchandise is transferred from the FTZ for U.S. consumption or exported.
Benefits of a FTZ:
- Deferral, reduction duties paid
- Inverted duty rate for manufacturing
A Foreign Trade Zone can help a company lower the cost of importing by delaying the payment of Custom’s duties until the material is needed or with the benefit of inverted duties. Pedraza can help you take advantage of the weekly entries and in-bonds.
- FTZ General Public Warehouse in El Paso
- Electronic 214’s
- Weekly FTZ entries
- Weekly FTZ exports and inbonds
- Reports for keeping your inventory controls
