Did you know that companies have the ability, utilizing drawback filings, to recoup up to 99% of the duties paid on goods previously imported into the US, that are later exported? Did you also know that drawback can be claimed for goods exported up to three years prior to filing a claim with Customs?
Filing for drawback can provide your company with multiple benefits, and can be utilized with other duty savings programs such as foreign-trade zones or bonded warehouses.
There are however, several aspects to consider when looking at filing for drawback. Despite the benefits it offers your company, it can be a complicated process, requiring knowledge of regulations and how they directly apply to your goods. To make filing for drawback easier, we have put together a tip sheet for you “Explaining the US Drawback Process in 5 Simple Steps”. This tip sheet will provide a simple process in making drawback filing easier. Download your copy here.