What Is a Foreign-Trade Zone Warehouse and How Can Businesses Use One?
Are you a business owner receiving goods at the US border? Overwhelmed by Customs & border procedures, transport, storage and distribution? You're not the only one. When goods are shipped in large containers to be sold over time it's easy to run into trouble. Here's the point: a Foreign-Trade Zone warehouse could be the answer. It can give you a way to store and move eligible products for certain customs processes prior to importing them into the US domestic market. And it may just be what a handful of California companies need to better manage their inventory and customs-duty payments. But how exactly do FTZ operations work? And would it be a good fit for your company? Let's find out. What Is a Foreign-Trade Zone Warehouse? Good, so how do a foreign trade zone warehouse work? It is a warehouse operated within the ambit of a given Foreign-Trade Zone that is authorized to do so. This means you can warehouse, move or even manipulate specific types of imported goods ...