Bonded Processes Inbond Transportation/Bonded Warehouse/Foreign Trade Zone

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1 Bonded Processes Inbond Transportation/Bonded Warehouse/Foreign Trade Zone

2 Presenter Korrie Thomas Director of Compliance Houston Joined BDP in years of trade experience Licensed Customs broker since 1994

3 What is Bonded Freight Freight that has not cleared on a consumption entry is considered Bonded freight. Although in the possession of a non-government entity, it is considered to be in customs custody while under bond. Only duly authorized parties have access to the freight while it is in bonded custody.

4 Inbond Entry I.T. I.T. -- In-Transit bond Freight moves from one port to another before an entry is filed Cancelled by second entry Includes other IT IE or consumption (duty-paid entry) Carrier can only release upon proof of new entry

5 Inbond Entry I.E. I.E. -- Immediate Export Freight moves within the same port and is exported immediately. Watch for common district with separate port (ie Houston 5301 or 5309) Bonded carrier must prove export occurred

6 Inbond Entry T & E T & E -- Transportation and Export Freight moves to another port for export Truck to Canada or Mexico for export Move from one sea port to another for export Move from airport to seaport for export Bonded carrier must prove export occurred

7 How Does Bonded Entry Work? Filed by bonded carrier or customs broker Can be manual or electronic Freight moves under carriers approved customs bond and is considered to be in customs custody Closing out the bond Freight on I.T. can be cleared (consumption entry) Put in Bonded Warehouse Replaced by another I.T. for further movement Fines and penalties for failure to maintain terms of bonded freight Transportation must be completed within 30 days

8 Bonded Warehouse Entry Some processes can be performed such as packaging but no manufacturing Some processes may require manipulation permit from customs Five-year limit from date of Import (very important) Can exit the warehouse via inbond entry such as IT, IE, or T&E or consumption entry Can be transferred to other bonded warehouse

9 Bonded Warehouse Entered into custody via a type 21 (warehouse entry) OR 22 (re-warehouse entry) Harbor Maintenance Fees (HMF) and Merchandise Processing Fees (MPF) are paid upon entry but duty is deferred until withdrawal or never paid if exported (except Canada and Mexico)

10 Bonded Warehouse (cont.) Can be either a public warehouse or a private one Can be external protected area or indoor Must have limited access Must be secured by appropriate means Cannot contain non-bonded freight

11 Foreign Trade Zone Different kinds of activities can be performed with proper approval Manufacturing Processes Labeling Processes Treated as foreign soil for customs duty purposes Can leave via inbond or bonded warehouse entry or consumption entry Can be transferred to a bonded warehouse or other FTZ

12 Foreign Trade Zone Privileged Foreign Status - category of foreign status merchandise (See 19 CFR ). Such merchandise maintains its status based on its condition when it was admitted to the zone. Thus, when the merchandise is shipped from the zone and entered for consumption by CBP, it is evaluated based on the time-of-admission condition even though it may have undergone a transformation in the zone. Non-Privileged Foreign Status category of foreign status merchandise (See 19 CFR ). Such merchandise is evaluated based on its condition at the time it is shipped from the zone and entered for consumption by CBP.

13 Comparing: Bonded Warehouse to FTZ Bonded Warehouse A bonded warehouse is within U.S. Customs territory; a Customs Entry must be filed to enter goods into the warehouse. Only foreign merchandise may be placed in a bonded warehouse. Each entry must be covered by either a single entry, term bond or general term bond. Duties are due prior to release from bonded warehouses. Manufacturing is prohibited. Immediately. Not to exceed 5 years. Only cleaning, repackaging and sorting may take place and under Customs supervision. Apply fully. Applies to all foreign merchandise. FTZ A zone is not considered within Customs territory. Customs entry is not required until removed from a zone. All merchandise, whether domestic or foreign, may be placed in a zone. No bond is required for merchandise in a zone. Duties are due only upon entry into U.S. territory. Manufacturing is permitted with duty payable at the time the goods leave the Zone for U.S. consumption. Duty is payable on either the imported components or the finished product, whichever carries a lower rate. No duty on waste material or on value added in manufacturing, such as labor, overhead and profit. No duty paid on goods exported from a zone. Tariff rate and value may be determined either at the time of admission into a zone or when goods leave a zone, at your discretion. Unlimited. Sort, destroy, clean, grade, mix with foreign or domestic goods, label, assemble, manufacture, exhibit, sell, repack. Only applicable to goods actually removed from a zone for U.S. consumption. Application of Federal regulations depends on products and agency.

14 Why use the Bonded Process? There are a variety of reasons to use these processes. In some cases, the freight was never intended to stay in the United States, it is simply moving through US territory to Mexico or Canada or changing from one form of transportation to another and continuing to another country. Quota goods may be put in a bonded warehouse when the quota is full An importer may store freight waiting for an anticipated lower duty rate (one year to next) Parts may be brought in to complete a manufacturing process or to be packaged with domestic product and shipped to another location.

15 NAFTA Connection Consult your broker about special processes where NAFTA exports are concerned. Duty Deferral (a NAFTA concept) works differently than other exports and can be costly

16 Upcoming 101 Presentations Import Topics 01/10/2013 Bonds/Bonded Warehouses 02/14/2013 Role of the Importer 03/14/2013 Classification 04/11/2013 C-TPAT 05/09/2013 Incoterms 06/13/2013 Valuation Export Topics 01/17/2013 What Regulations are Important from which Government Agency 02/21/2013 Free Trade Agreements 03/21/2013 Incoterms 04/18/2013 Filing your EEI info into AES 05/23/2013 Role of the Freight Forwarder & Logistical Flows 06/20/2013 Handling Airfreight 101

17 Contact information Korrie Thomas Phone: Mobile: JFK Blvd, Suite 700, Houston, TX To download today s presentation please make note of the following link:

18 Thank you! BDP International thanks you for your time and participation. Our complementary webinar 101 series will Import topics on Wednesdays at 10:00 A.M. Central Export topics on Thursdays at 10:00 A.M. Central Registration is required for each event. Upon successful registration, you will receive an with logon details. (Please check your spam if you do not see information within 24 hours)

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