Always in Motion:
GTM + FTZ: Managing Foreign Trade Zones
“In addition to traditional customs work, GTM Customs Brokerage was fundamental in helping Transpak set up and now operate our Foreign Trade Zone (FTZ). We greatly appreciate the hands-on support and attention to detail on this very critical piece of our business.” – James Hadel, President of Transpak, Inc.
In a world of continuously moving global commerce and frequent disruption, having highly skilled customs clearance support is essential. That’s why businesses of all sizes, including Transpak, Inc., have sought out GTM’s industry-leading customs expertise for decades.
Building on our regulatory compliance expertise and creative responses to industry disruptions, we’ve now added FTZ (foreign trade zone) support services.
A Foreign-Trade Zone exists outside U.S. Customs territory, and its users file Customs entries when removing goods from the Zone. Firms using an FTZ may file weekly entries, saving on administrative work and, potentially, on MPF (Merchandise Processing Fee, capped at $538.40 per entry).
Just in the last year, we’ve filed more than 100 FTZ entries into our clients’ FTZs in addition to approximately 3000 consumption entries. Our mission is to save our clients money, keep their operations running smoothly, and maintain full compliance with all applicable regulations.