Terms on Your Duties/ VAT – Cash Flow

<p> <a href="https://www.steelelogistics.com" target="_blank"><img alt="" src="/userfiles/image/blog/TraPac%20Container%20Terminal-1(1).jpg" style="width: 500px; height: 366px;" /></a></p> <p> Photo courtesy of the Port of Los Angeles</p> <p> We all know that duties can be a significant cost to companies. What can we do to get terms on our duties without having to pay expensive DDP rates?</p>
Published: April 25, 2014

Photo courtesy of the Port of Los Angeles

We all know that duties can be a significant cost to companies. What can we do to get terms on our duties without having to pay expensive DDP rates?

Customs has a program called ACH that you sign up for directly through us or through your current forwarder, that allows you 30 – 45 days before you need to pay this amount.  Here’s how it works: Customs will deduct this amount directly from your account on a certain date each month.  We will let you know ahead of time what that amount actually is so you can keep track and not be shocked about the deduction. 

Another positive aspect to setting up ACH with Customs is that you will be paying your duties directly to U.S. Customs, which will build a relationship between your company and Customs.  We also know that if you pay your duties directly to your broker  or current forwarder, if for some reason the duty was not paid on your behalf, Customs can come directly to you regardless of showing proof you paid the forwarder.

It is your responsibility to pay duties.  So let us help with easing cash flow, building a relationship with U.S. Customs and safeguarding your company from any negligence.

Strategy & Planning Series
Strategy & Planning Series
Strategy & Planning Series
Strategy & Planning Series