Duty Drawback is the United States’ oldest trade program in operation, dating back to 1789 when we were just a fledgling democracy determined to make our presence known on the world stage. The program’s intent then, as it is now, is to put American companies on a more level playing field with its international competition by driving out the cost of import tariffs and fees from its exported products.
Topics: About us
Hello Friends. Just a reminder that billions of eligible drawback dollars go unclaimed each & every year here in the US. Yep..…you heard that right. In this new year and tough economy, we should be looking at every opportunity to positively impact the bottom line. If you haven’t established a duty drawback program, there is no better time than the present. Understanding and effectively utilizing duty drawback is crucial for automotive OEMs to thrive in the face of global competition.
Topics: Duty Drawback
Congratulations, you’ve successfully transmitted a Duty Drawback claim to U.S. Customs and Border Protection! Whether this is your first claim or just one of many, an accepted claim feels like an accomplishment, especially given the complexity of the Modernized Drawback regulations. At this point, many traders may believe their part is over and it’s time to sit back and collect the refund, right? Well, maybe not. Picture this… while (patiently) waiting for your refund, you receive a CBP Request for Information, also known as a CF28, and a notification letter from a CBP Drawback Specialist that your claim requires additional information to be processed, in the form of a Full Desk Review (FDR) - three words that strike fear into even the most seasoned trade professional. Now what?
Topics: Duty Drawback
As many of our readers are aware, on April 19th, 2020, US Customs and Border Protection (CBP) announced the postponement of duties for formal entries of merchandise entered, or withdrawn from a warehouse for consumption in March and April 2020 for importers experiencing significant financial hardship due to COVID-19.
Topics: Duty Drawback, North America
On February 24, 2016, the president signed into law the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA). Among its key provisions is the very long awaited liberalization of the U.S. Drawback program. Although its official enactment will occur on Feb. 24, 2018 and the regulations governing the new program have yet to be written, summarized below are its key provisions along with commentary by yours truly:
Topics: Duty Drawback
