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. Improperly calculating the required ratios through the bills of material or mismanaging multiple origin production sourcing throughout the year are common examples of where importers can lose money.
Without strategies in place to ensure you are declaring the correct preferential tariff treatment(s), you are exposing yourself to possible higher landed costs and non-compliance monetary penalties.
Dominion designs and executes a variety of Origin strategies to protect our client's brand. From annual origin verification programs to obtaining/analyzing bills of material to establish qualifying origin, we are here to help.
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