Foreign trade zones board action cross reference zone nos. Foreign trade subzone companies enjoy all the same benefits as ftz companies. Foreigntrade zones ftzs are located in the united states, but goods imported into the zones are not subject to tariffs or duties until they leave. This page contains the foreign trade zone customs manual. Vv 32 english vocabulary for international trade business english vocabulary duration. However, there are the differences between general purpose zones and subzones. The above diagram depicts portmiamis general purpose foreign trade zone 281. The ftzb consists of the secretary of the department of commerce chairman and the secretary of the treasury, or their designated alternates. Customs and border protection office of field operations.
A foreign trade zone is designated by the united states customs department and allows foreign and domestic merchandise to be admitted for operations such as storage, exhibition, assembly, manufacture and processing, without being subject to formal customs entry procedures, the payment of customs. A foreign trade zone ftz is a class of special economic zone. The purpose of the foreign trade zone manual is to place in one document, the various laws, regulations, policies and procedures that customs and border. Business english pod learn business english recommended for you. Virginia is the best choice for ftz activities due to our strategic midatlantic location. Systems may be manual, automated, or a combination of both. Many united states manufacturers are using ftz and ftz subzone status to reduce operating costs for united states manufacturing and inventory facilities. The foreign trade zones act was one of two key pieces of legislation passed in 1934 in an attempt to mitigate some of the destructive effects of the smoothawley tariffs, which had been imposed in 1930.
The foreigntrade zone process can be very onerous to manage manually, especially in highvolume operations. Foreign trade zones board cross reference zone nos. Foreign trade zones manual open pdf 2 mb the purpose of the foreign trade zone manual is to place in one document, the various laws, regulations, policies and procedures that customs and border protection cbp personnel, grantees, operators and users need to know in the daily operation of foreign trade zones. Foreign trade zone erie county industrial development. Customs port of entry, where foreign and domestic merchandise is. Customs and border patrol territory for the purpose of tariff laws and customs entry procedures. The foreigntrade zones board was established under the foreigntrade zones act of june 18, 1934, as amended pub. Customs ports of entry that are legally considered to be outside the u. The bangladesh economic zones authority beza has recently submitted to the prime minister for approval a plan for providing generous fiscal incentives to attract foreign direct investment fdi. Prepare a procedures manual outlining the inventory control system and recordkeeping. Foreigntrade zone manual how is foreigntrade zone manual. According to the bonded warehouse manual for customs and border. Foreigntrade zones present advantages and opportunities for businesses seeking a competitive edge in the world marketplace.
Foreign and domestic merchandise may be moved into zones for storage, exhibition, assembly, manufacturing, and processing without payment of duties, quota and other import restrictions until the decision is made to enter the goods into the u. A foreign trade subzone is an area approved by the ftz board for use by a specific company. Explore doing business with foreigntrade zone 8, an international trade zone for import and export partners. S government, a ftz is an area within the united states, in or near a u. This page contains the foreigntrade zone customs manual. Foreign trade zone 281 guidebook version i 812 6 section 5.
Foreigntrade zone definition is an isolated policed area adjacent to a port of entry as a seaport or airport where foreign goods may be unloaded for immediate transshipment or stored, repacked, sorted, mixed, or otherwise manipulated without being subject to import duties. The boards decisions included approving three new foreign trade zones, the reorganization of 38 zones under the ftz boards alternative site framework asf and. Thats why importers and exporters consider the ports foreigntrade zone ftz no. It is a geographic area where goods may be landed, stored, handled, manufactured, or reconfigured and reexported under specific customs regulation and generally not subject to customs duty. He reportedly prepared a manual on zone creation and participated in a. The benefits of locating within a foreign trade zone could include the elimination, deferment or reduction of duties associated with materials and products being imported and exported within the zone, thus reducing overall cost of doing business. Zone schedule for the tacoma foreign trade zone port of tacoma.
Foreigntrade zones manual in addition to the customs regulations governing. Federal register agencies foreigntrade zones board. Dec 19, 2011 vv 32 english vocabulary for international trade business english vocabulary duration. Foreigntrade zone definition of foreigntrade zone by. A foreigntrade zone is a restrictedaccess site, in or adjacent to a customs port of entry, operated pursuant to public utility principles under the sponsorship of a corporation granted authority by the board and under supervision of u.
Their contributions to this document are appreciated. Understanding foreign trade terms is essential in order to make an educated and qualified decision for your organization. Types of sites portmiami is a general purpose zone operating under the asf with a defined service area. A foreigntrade zone ftz is a class of special economic zone. The foreigntrade zones act was one of two key pieces of legislation passed in 1934 in an attempt to mitigate some of the destructive effects of the smoothawley tariffs, which had been imposed in 1930. Foreign trade zones foreigntrade zone status is available in the cincinnati usa region providing businesses with opportunities to reduce their international business costs through duty, tax and a variety of operational savings.
Established in 1934 by an act of congress, a foreign trade zone ftz is a restrictedaccess site, in or adjacent to a customs port of entry, operated as a public utility and as granted authority by the ftz board. Foreign trade zones are located in or near cbp ports of entry that are authorized by the foreign trade zones board under the foreign trade zones act of 1934. This document may qualify as a guidance document as set forth in. For more information about foreign trade zones, contact liz isley, partner relations manager for the economic development partnership of north carolina at 919 4477751 or liz. Most of these free trade zones aim to attract investment to the countrys relatively underdeveloped north and northeast regions. Foreign trade zone ftz created in the 1930s by the u. Census bureau cbps new foreign trade zone online reporting program the foreign trade zone ftz online e214 application is a new webbased system that replaces filing of ftz data via the now expired census bureaus automated foreign trade zone reporting program aftzrp. Companies locating in ftz 20 can benefit from advanced distribution networks. This publication would be useful to brokers, freight forwarders, bonded and international carriers and other members of the importexport community. Ftz 8 foreigntrade zone 8 international trade zone. Import requirements and documentation international trade. This manual has been compiled by customs and border protection as a joint effort with the foreigntrade zones board, the u. Subzones are located outside the general purpose sites but are within 60 miles of the port of.
Foreign trade zones economic development partnership of. Community and economic development foreign trade zone no. They are usually located in areas with geographic trade advantages. The purpose of an ftz is to expedite and encourage foreign commerce. Authority for establishing foreigntrade zones is granted by the foreigntrade zones board. Companies that operate in foreign trade zones can defer, reduce or eliminate customs duties. This memorandum outlines briefly rules concerning the establishment and operation of foreign trade zones ftzs and subzones in the united states. If you have any questions, please contact liz whiteman at elizabeth. The federal government grants tax benefits to certain free trade zones. Ocrs ftz module eases this burden by integrating with the ocr ease import and export modules to efficiently bring finished products into the u. Although foreigntrade zones have grown since their creation by the foreigntrade zones act of 1934, there are still very few sources of information about ftzs. The new guidelines, physical security guidelines for cbp bonded facilities, replace the outdated rules that had been contained in t.
The foreigntrade zones program was created by the u. This document may qualify as a guidance document as set forth in executive order 891 and interpretations thereof. The cincinnati usa regional chamber serves as the grantee for the ftz program in this region with ftz no. This manual has been compiled by customs and border protection as a joint effort with the foreign trade zones board, the u. Bezas fiscal incentives to attract foreign investment in. Compiles various laws, regulations, policies, and procedures relating to foreign trade zones. The ftz program was created in 1934 to provide special customs procedures to us companies engaged in international trade.
Foreign trade zones ftz are secure areas located in or near u. Explore doing business with foreign trade zone 8, an international trade zone for import and export partners. Established in 1934 by an act of congress, a foreigntrade zone ftz is a restrictedaccess site, in or adjacent to a customs port of entry, operated as a public utility and as granted authority by the ftz board. Foreign trade zone 90 operation oswego county, inc. Foreign and domestic merchandise may be moved into zones for operations, not otherwise prohibited by law, including storage, exhibition, assembly, manufacturing, and processing. A foreign trade zone ftz is a very secure area in or near a port of entry that is considered outside of us commerce but is under us customs supervision. If the contact person is20 not an employee of the grantee, the name of the grantee organization20 is also given. Congress with passage of the foreign trade zones act of 1934, as amended 19 u. Foreign trade zones present advantages and opportunities for businesses seeking a competitive edge in the world marketplace. Census bureau and the national association of foreign trade zones.
Port everglades is at the forefront of efficiency when it comes to distributing foreign and domestic goods. This site was designed to provide information to virtually anyone involved in the foreigntrade zone ftz program. This list gives the address and phone number of20 the contact person for each ftz project. Foreigntrade zones manual open pdf 2 mb the purpose of the foreign trade zone manual is to place in one document, the various laws, regulations, policies and procedures that customs and border protection cbp personnel, grantees, operators and users. Enacted during the great depression, the ftz act was intended to expedite and encourage foreign commerce and other purposes. Customs and border protection has announced new security guidelines for foreign trade zone sites ftz and other bonded facilities. Reno has one of the largest foreign trade zones in the nation. Department of commerce, manages this global trade site to provide access to ita information on promoting trade and investment, strengthening the competitiveness of u. Naftz intends submitting its comments to ensure the best possible regulatory environment for the ftz community.
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