Scientist on Tablet

RGR BENEFITS

Benefits of Using a Foreign Trade Zone

 


 

1. Business contingency execution on import or export goods that face
compliance exposure or lack of documentation requirement at the time of
shipment.

2. Global supply chain option of financial expense avoidance.


3. Storage of Non-approved drug products staged for US importation in a
temperature-controlled environment with GMP audited equipment


4. Duty Deferral and Elimination. FTZs are designated as outside of Customs
requirements and laws, meaning that goods coming into these zones do not
incur duties until they exit the foreign trade zone and enter the commerce of
the US.


5. China 301 and Steel 232 Duty Avoidance on goods being imported and
exported from the US FTZ


6. Inverted Tariff Relief. Foreign-Trade Zones empower companies to keep
more of their manufacturing on US soil without the effective penalty of
Inverted Tariffs.


7. Ad Valorem Tax Relief. Ad Valorem Tax (or inventory tax) is a fee charged
on existing inventory.


8. Damaged or Non-Conforming Items. An FTZ can be utilized to inspect,
repair, repack, or remove damaged & defective products before withdrawing
to US commerce.


9. Storage of export designated cargo as deemed proof of export under
restricted status privilege to meet export requirements by US regulatory
agencies


10. Exportation Requirements. When finished goods or component parts are
imported into the US for eventual exportation, a foreign trade zone allows for
the duties on those imports to be refunded.

Vaccine Production Line