Recovering duty over payments is one approach a company can use to lower their landed costs. Another approach is to avoid these costs outright through the use of an effective Origin and Free trade Agreement (FTA) strategy.
Companies that are able to maximize free trade agreements to reduce duties have a cost advantage over those that do not.
Origin compliance can be a challenge as most importers rely solely on their vendors to correctly qualify the goods they import. From properly calculating the required ratios through the bills of material to managing multiple origin production sourcing throughout the year, without strategies in place to ensure you are declaring the correct preferential tariff treatment(s), you are exposing yourself to potentially higher landed costs and possibly financial non-compliance penalties.
Dominion designs and executes a variety of Origin strategies to protect our client's brand. From annual certificate of origin renewal programs to obtaining/analyzing bills of material to establish qualifying origin, we are here to help.
Copyright © 2020 Dominion Customs Consultants - All Rights Reserved.