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Duty Savings Achieved with TIB

October 28, 2014 Trade Translation duty savings, importers, Jim Trubits

By Jim Trubits Astute importers and exporters can benefit from the numerous duty avoidance, deferral, and recovery programs offered by U.S. Customs & Border Protection (CBP). Temporary Importation Bonds (TIB) are a great way to avoid paying thousands of dollars in duty. Here’s how it works: Under certain conditions, goods are imported into the U.S.—for…

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Import Compliance and Customs Assists: What’s the Real Cost?

May 23, 2011 Trade Translation assists, Customs, duty, import, import value, importers, Jim Trubits, lump sum value, mohawk global trade advisors, mold manufacturing, U.S. Customs, U.S. importers

Many of our clients produce molds as part of their manufacturing process. Did you know? US Customs requires that importers not only pay duty on the physical product, but also pay duty on “assists” that aided in the production of that product. According to US Customs, these listed assists should be reported as part of…

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