Challenges and Solutions
Minimizing duties is one of the fastest and easiest ways to squeeze significant financial returns out of a company's global supply chain. A dollar, yen, pound, or euro saved in duties goes straight to a company's bottom line. Duty minimization opportunities come in many forms, including preferential trade programs, customs warehousing programs (aka Foreign-Trade Zones in the United States) and duty drawback. Unfortunately, many companies fail to take advantage of these programs due to the perceived difficulties of qualifying for and administering them.
Amber Road’s Duty Management solutions help companies simplify and automate the qualification and administration process of preferential trade programs along with managing Foreign-Trade Zones.
Our Duty Management solution provides the ability to:
- Automate the supplier solicitation, qualification and certificate management processes of preferential trade programs for importers and exporters Maintain audit trails of preferential claims and how they were achieved by associating certifications with products
- Streamline the process of determining how much money Customs agencies owe you, and make it easier and more efficient to reduce and eliminate duties
Free trade agreements such as NAFTA, CAFTA and others represent an attractive opportunity for exporters to grow their business overseas by making their products more affordable in growing markets. And for importers, FTAs allow them to dramatically lower the duties and taxes they pay.
Today there are more than 500 free or preferential agreements around the world for companies to use.
"Beyond its advanced technology and global trade management expertise, Amber Road stands out for its in-depth knowledge of Chinese compliance procedures and local, Chinese- language support."
Head of Export Control & Customs
Cut duties and