U.S. Customs Service has regulatory control of all goods moving to or from a zone. But….because zones are considered outside the customs territory, requirements that would otherwise apply to imported goods are suspended as long as the merchandise remains in the FTZ
171 FOREIGN TRADE ZONE What can be done within a FTZ? Inside a FTZ foreign or domestic merchandise may be stored, sold, exhibited, broken-up, repacked, assembled, distributed, sorted, graded destroyed, mixed with other items, or manufactured. Machinery and equipment that is imported for use with the FTZ for the above is not exempt from duty.
172 FOREIGN TRADE ZONE – RESTRICTIONS What cannot be done within a FTZ? Activities against the public safety of the USA. All manufacturing is reviewed in terms of government policy and economic effect. Cannot manufacture: alcoholic beverages, perfumes containing alcohol, tobacco products, firearms or sugar.
173 FOREIGN TRADE ZONE – ADMITTANCE To get goods admitted into FTZ … Application is made on CF 214 - Commercial Invoice - Evidence of Right to make Entry US Customs reviews entry and Port director issues a to allow the goods admission .
FOREIGN TRADE ZONE – EXIT To take goods out of a FTZ … A. Export B. Consumption Entry into the USA
- Summer '20
- International Trade, SPECIALTY US CUSTOMS BONDS