P.O. Box 81553 Cleveland, OH 44181 USA
US Foreign-Trade Zones - Program Features
Is a FTZ right for your company?
Is a FTZ right for your company?
Is a FTZ right for your company?
Your company may benefit from foreign-trade zone status if even only one of the following criteria applies:
- Do you import high-value products?
- Do you import a product in high volume?
- Do you export?
- Is expedited delivery important to you?
- Do you receive multiple shipments in a week?
- Are your products subject to Section 232 or Section 301 trade measures?
- Are your products subject to import quotas?
- Do you currently apply for duty drawback?
If you answered yes to any of these questions, the U.S. Foreign-Trade Zone program might be a way for your company to reduce paperwork, improve cash flow, increase flexibility and save time.
FTZ Benefits
Is a FTZ right for your company?
Is a FTZ right for your company?
The US FTZ program can provide your company with significant cost-savings:
- Duty Deferral: Delay payments of duties until the inventory leaves the zone
- Duty Reduction: Pay the lower of the component or finished product duty rates
- Duty Elimination: Potentially eliminate duty on products that are re-exported, rejected, scrapped or destroyed
- Direct Delivery: Bypass congestion at sea ports by applying for authority to receive product, break seals and clear customs within the FTZ facility
- Weekly Entry: Reduce merchandise processing fees (MPF) by combining shipments on one entry filed weekly
- No Import Quotas: Inventory stored in an FTZ is not subject to import quotas
Obtaining FTZ Status
Is a FTZ right for your company?
The Application Process
The Foreign Trade Zone Board of the U.S. Department of Commerce oversees the foreign-trade zone program and appoints grantees of the various zones throughout the country. Applications are submitted to the board by the grantee for foreign-trade zone status for specified areas, or on behalf of individual companies in the case of a subzone.
The Port of Cleveland is grantee of FTZ 40, which currently includes 23 sites covering nearly 5,900 acres in Ohio's Cuyahoga, Lorain, Lake and Ashtabula counties.
Northeast Ohio Companies can apply to have their site designated as a FTZ. Once activated, the company will be able to enjoy all the benefits afforded by the program without the need to relocate
ChemJays Global Trade Group in conjunction with its partner Town & Country Property Care have been contracted by the Port of Cleveland to administer FTZ 40.
The Application Process
The Application Process
The Application Process
The Port of Cleveland operates under a fast-track application process called the Alternative Site Framework (ASF). This new application process was approved by the U.S. Foreign-Trade Zones Board in early 2011. It dramatically shortens the time frame under which companies can be approved for FTZ status, from 12 months or more, to just one to two months.
Components of an application include an executive summary, legal authority to apply, site description, operation and financing, economic justification, maps and legal description.
The Fine Print
The Application Process
The Fine Print
An application is not required for companies locating in a current site within FTZ 40. The company would simply enter into an agreement with the Port of Cleveland for FTZ 40, and the property owner where the site is located.
All expansion applications and requests for boundary modifications in FTZ 40 will be prepared and submitted to the FTZ Board for review and approval.
An expansion application establishes a new site within the zone. A boundary modification application modifies an existing FTZ site or transfers acreage.
How to Apply
The Application Process
The Fine Print
Northeast Ohio companies located within FTZ 40 service area can start the process by requesting a free, no-obligation estimate of the benefits they can obtain by participating in the program.
Once the benefits have been evaluated, an application can be processed by ChemJays Global Trade Group and its partner Town & Country Property Care.
Please contact us at:
ChemJays Global Trade Group
E-mail:info@chemjays.com
Phone: 440-467-0205
Town & Country Property Development Ltd.
E-mail: rwd123@earthlink.net
Phone: 330-687-6882