Mandatory TFTEA drawback switch starts Sunday

CBP reminded the trade that drawback claims must be filed in ACE according to requirements of the Trade Facilitation and Trade Enforcement Act.

Mandatory TFTEA drawback switch starts Sunday

CBP reminded the trade that drawback claims must be filed in ACE according to requirements of the Trade Facilitation and Trade Enforcement Act.

Mandatory TFTEA drawback switch starts Sunday

CBP reminded the trade that drawback claims must be filed in ACE according to requirements of the Trade Facilitation and Trade Enforcement Act.

 
U.S. Customs and Border Protection reminded duty drawback filers that starting this Sunday all claims must be filed in the Automated Commercial Environment (ACE) according to the requirements of the 2015 Trade Facilitation and Trade Enforcement Act (TFTEA).
    “TFTEA, which provides significant enhancements to the drawback laws under 19 U.S.C. § 1313, will be the only legal framework for filing drawback claims from Feb. 24, 2019 onward,” the agency said in email message to the trade.
    Basically, a drawback is a refund of customs duties paid on imported materials that are then exported or used in the manufacture of exports. With documented proof, exporters can receive refunds from CBP of up to 99 percent on duties paid.
    TFTEA drawback eliminates the paperwork previously associated with the claims process by requiring that information to be processed in ACE.
    “Those that have been active in interacting with CBP are going to be pretty prepared for the transition. Certainly there are going to be smaller providers who were filing paper claims up to the deadline that will need to find a new solution,” said Dave Corn, vice president of one of the nation’s oldest drawback specialists, Comstock & Theakston Inc., and co-chairman of the Association of American Exporters and Importers’ Drawback and Duty Deferral Committee.
   CBP said it will hold daily “drawback support calls” with the trade at 2 to 3 p.m. EST from Monday to March 1 to address any questions or concerns. The dial-in number is (877) 366-1828, code: 6124214. Questions also may be emailed to the agency at OTDrawback@cbp.dhs.gov.
   “If you have a drawback question about anything relating to the transition, I would recommend that you attend the daily CBP calls to address those concerns, as the right audience from CBP is there to answer,” Corn said.

Current [U.S.] truckload supply now materially exceeds truckload demand, contract rates exceed spot rates, and conversations will likely be migrating towards ‘carrier of choice’ over the course of the year.

Spot container rates from Shanghai to Rotterdam stood at $1,426 per FEU as of May 23, down 2% year-over-year, according to Drewry’s World Container Index.

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Mandatory TFTEA drawback switch starts Sunday

CBP reminded the trade that drawback claims must be filed in ACE according to requirements of the Trade Facilitation and Trade Enforcement Act.

Feb 22, 2019 on Dec 27, 2018AmericanShipper.com

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Mandatory TFTEA drawback switch starts Sunday

CBP reminded the trade that drawback claims must be filed in ACE according to requirements of the Trade Facilitation and Trade Enforcement Act.

Feb 22, 2019 on Dec 27, 2018AmericanShipper.com