Change… a change in your approach to international commerce can make or break your business. Our experts in G-Global value strategizing with innovation and the use of in bond shipment is a great example of our disruptive logistics.
In-bond Shipment is an efficient resource for reducing costs that globally impact your logistics operations. What does in bond shipment really mean? It’s a different way to present your goods to Customs, a special regime where it will have the authorization to move within the United States borders, but has not yet been cleared through the US Customs processes.
The use of In bond shipments have increased because of financial flexibility, this being that you will be able to establish terms to pay the duties only when the goods are shipped out to a different country or consumed. Once your merchandise is deposited in a bonded warehouse, it can remain under this regime and terms for one year.
Customs and Border Control has shared through 4Q2020 In bond Modernization White Paper V12 that through the spectacular growth of in bond shipments there has been a need to identify and reduce pain-points of the processes applied and guarantee a reinforced supervision of compliance. As a result, CBP has regulated the process involved in import-export commerce and applied changes to achieve a modernization of the in-bond procedures. Significant improvement has been seen and experienced with the introduction of new requirements and automation and continuous reports generated, it’s no doubt that this is a great opportunity for your business to save on duties through thorough logistics planning. CBP
Having in bond shipments is ideal for designing a margin of response to a changing demand with flexibility, creates new capabilities and more such as:
- Having the product safe and available until its final destination is decided
- Fast access and availability of stock
- Creates temporary suspension of duty obligations
We know customs compliance is a tricky field of potential delays, a lot of paperwork and continuous changes. Count on us to create an innovative dynamic to comply with all legal requirements and enjoy seamless logistics. At G-Global, if the border is open so are we! The world has become one big market and traders have benefitted from new opportunities and applying efficient methods to thrive and sell. Let’s ship in-bonds together!