Special Services
Cargo Insurance
Hundreds of millions of dollars are lost every year as a result of inadequate coverage for international shipments. Krieger Worldwide has extensive experience at arranging cargo insurance. Put our buying power and expertise to work for you.
Bonds
Submitting a bond is a requirement for importing into the United States. We generally recommend a continuous bond as a means of reducing costs for regular importers. As part of our bond program you can take advantage of extensive reports available to track your import entries nationwide.
Drawback
Each month importers fail to recover millions of dollars paid in duty on import shipments when goods are exported. We can arrange simple same condition drawback shipments or complex manufacturing drawbacks. Don’t lose your opportunity to obtain a duty drawback.
Contact us today.
An exporter can potentially recover 99% of the duty paid for imported merchandise. This process is called duty drawback. The most common form of Drawback is the Same Condition Drawback, covering merchandise that was imported into the United States on which duty was paid and is now re-exported.
Another program available is Manufacturing Drawback. This permits an importer to obtain a refund of 99% of the duty paid on imported components used in the manufacture of finished product that is exported.
Exporters, who have not previously filed Drawback, may be able to retroactively claim for a refund of 99% of the duty paid on goods that were exported up to three years ago. Upon approval from Customs, exporters may enjoy accelerated payment of duty refunds, with refund checks often arriving within weeks of filing.
Krieger Worldwide experts can help you establish a drawback program specifically designed to offer you the best results. Start enjoying the benefits of duty refunds today.
Foreign Trade Zones
These bonded facilities can provide some important benefits to importers. One of the most important advantages is the ability to defer duty payments until the goods are needed. Krieger Worldwide is ready to develop an FTZ program designed specifically to your requirements.
Foreign Trade Zones (FTZ) were created more than sixty years ago to facilitate trade and increase the global competitiveness of U.S.-based companies. An FTZ is a facility that the government considers outside the Customs territory of the United States. Certain classes of goods may be moved to an FTZ from outside the United States without filing a consumption entry with Customs and paying duty.
While in a Zone goods can be assembled, cleaned, destroyed, manipulated, manufactured (with special approval), mixed, processed, re-labeled, re-packed, salvaged, sampled, stored, or tested.
Importers may enjoy substantial cash flow benefits by storing goods in an FTZ, deferring duty payments, until orders are received to ship the goods. Arranging weekly withdrawal of goods from an FTZ permits an importer to reduce Customs Merchandise Processing Fees (MPF).
Imports may be admitted and held in a Foreign Trade Zone without paying U. S. Customs duties. FTZ users can pay the duty rate on component material or merchandise produced from component material, whichever is lower. Customs duties are never paid on merchandise exported from a Zone. Duties are reduced or eliminated on materials subject to defect, damage, obsolescence, waste or scrap. Merchandise may be exported and returned to an FTZ without duty payment. Spare parts may be stored, returned, or destroyed without duty payment. Duties are not owed on labor, overhead, or profit attributed to FTZ production operations. Quality control inspections can identify sub-standard goods to be destroyed or returned without duty payment. No duty is owed on in-bond, Zone-to-Zone transfer of FTZ merchandise.
Krieger Worldwide can tailor an FTZ process to suit your specific needs. Put our experts to work for you.
Consulting
Bring in the experts from Krieger Worldwide to review your logistics needs. We are experienced at providing training classes for staff as well as guidance for executives.
