Navigating Duty Suspension Programs: How Customs Brokers Save You Time and Money

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In this video, we discuss the crucial role of customs brokers in duty suspension or drawback programs. Customs brokers are responsible for assisting importers with obtaining customs bonds, navigating duty suspension regulations, identifying drawback opportunities, managing paperwork, ensuring Importer Security Filing (ISF) compliance, and providing expert advice on trade regulations. Duty suspension programs allow importers to delay paying import duties on certain goods until they are removed from a designated zone or put to a specified use. Drawback programs, on the other hand, allow importers to claim a refund of duties, taxes, and fees paid on imported goods when those goods are exported or destroyed. Customs brokers are well-versed in the regulations and documentation required for duty suspension or drawback programs, saving importers time and reducing the risk of non-compliance. Customs brokers also work closely with logistics providers to ensure the efficient movement of goods across borders. Overall, customs brokers play a critical role in ensuring the smooth and compliant flow of goods in international trade.
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Video Disclaimer Here: This video is designed for education and is unaffiliated with US government bodies.

0:21 - Customs brokers play a crucial role in duty suspension and drawback programs in international trade.
0:43 - They help importers obtain customs bonds required by U.S. Customs and Border Protection for the release of shipments.
1:06 - Duty suspension allows importers to delay paying import duties on certain goods until they are removed from a designated zone or put to a specified use.