Courtney Stiers

Just trying to find someone to talk about FTZs with | Foreign Trade Zone Consultant | AZS Holder | LCB | MBA | Tweets are my own views and not considered advice

[Courtney Stiers @CourtneyStiers]

We are just a few weeks out of NAFTZ Spring Seminar! Let me know if you are going to be there or if you would like me to highlight those sessions for you.

[Courtney Stiers @CourtneyStiers]

@Delta shame on you for not offering refunds for those people who suffered on a plane with no AC unit in 98° heat. Two medical emergencies, including a heat strokes. And the best you can offer is 10,000 points. You all should be ashamed

[Courtney Stiers @CourtneyStiers]

Drawback can be filed 5 years from the import date from the date the claim is filed. Documents related to drawback must be maintained 3 years from the date of liquidation of the drawback claim. #drawback #naftzwebinar

[Courtney Stiers @CourtneyStiers]

There are three types of duty drawback: Unused, manufacturing, and rejected merchandise. #naftzwebinar

[Courtney Stiers @CourtneyStiers]

Drawback required a significant amount of data to file. You need to show proof of export, ownership, import, etc. depending on the type of drawback. Before starting such an endeavor it makes sense to look at the potential return of drawback #naftzwebinar

[Courtney Stiers @CourtneyStiers]

I am excited to attend @NAFTZ webinar today on Duty Drawback and FTZ use cases. #NAFTZWebinar I'll drop some key talking points throughout the presentation so follow along!

[Courtney Stiers @CourtneyStiers]

Companies who are impacted by quota class merchandise may benefit from the FTZ. Companies can store their merchandise in the FTZ until the quota is open. #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

#DYK that you can store domestic merchandise in an FTZ. This helps companies maintain a compliant operation. It may also be strategically beneficial when utilizing a FIFO inventory method. #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

Zone Restricted status has the most restrictions when used in an FTZ. Merchandise with the ZR status can only be transferred to another FTZ, exported, stored in FTZ, or destroyed. The ZR status is irreversible. #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

Non-Privileged status has flexibility. With approval, it NP status merchandise may be adjusted to PF or ZR. Duty and tax considerations is based off the time of withdrawal from the FTZ. #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

Some regulatory requirements, tariff classifications, and punitive tariffs actually require FTZ operators to maintain privileged status on imported merchandise. This means the tariff rate at which it was entered it must leave the FTZ. #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

#DYK there are four different staus types that merchandise stored in an FTZ can have? Privileged, non-privileged, zone restricted, and domestic. #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

There is still time to register for @NAFTZ #NAFTZWebinar on leveraging zone status for savings and compliance.

[Courtney Stiers @CourtneyStiers]

Top takeaways from the #NAFTZWebinar make sure doc are updated, they are the 1st impression. Review and update zone schedules and operator agreements regularly. Include regulatory requirements. Make sure the documents work for you as the grantee.

[Courtney Stiers @CourtneyStiers]

Including information in a grantee zone schedule such as preferred application process, indemnification, confidentiality, and other requirements sets clear expectations for the FTZ operators #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

Grantees have an opportunity to strategically use their zone schedule to find opportunities that they may not have had. Grantees should make sure the zone schedule is clear and easy to understand for potential operators #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

#DYK Grantees are required to have additional documentation however, the FTZB recently removed the requirement of obtaining landowner agreements. This is largely due to most grantees not knowing about the requirement and not collecting them #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

Key operator definitions and requirements are found in 19 CFR 146.1 and 15 CFR 400.43a. It is important to understand the differences between a grantee and an operator and the responsibilities of each #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

#DYK that a grantee's zone schedule must be submitted to the FTZB before any part of the schedule is considered to be in effect #NAFTZWebinar

[Courtney Stiers @CourtneyStiers]

The FTZB recently published updates to their regulations of 15 CFR 400 including, polices for the zone, rates/charges, appendix w/ definitions, and zone schedule updates. #NAFTZWebinar.