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Import Management Module
The Import Management Module streamlines the process of clearing U.S. Customs while simultaneously providing your company a clear audit trail. From pre-entry, to entry, to post-entry, the module supports the flow of vital customs related documents to integral parties involved in the import process.
Import Management from OCR helps you manage your company’s entire import process. Our unique solution submits directly to ACE though ABI to help your business streamline and automate your entire import process. Some features include calculation of tariff rates, duties, and taxes. The system also looks for commodity quotas and denied party list updates. The Import Management Module is a solution that is beneficial as an inclusive management system for all of your import shipping documents needs and tracking duty claims.
Classification of Goods
In order to determine the appropriate duty owed, imported goods must be classified accurately and assigned the correct tariff number commonly known as Harmonized Tariff Codes (HTS). The description, use, and contents of the imported material determine the tariff classification.
Country of Origin
The country of origin or country of manufacture is determined by the place where the goods were "substantially transformed." Simple assembly of components does not establish country of origin.
Trade agreements under North American Free Trade Agreement (NAFTA), CAFTA, EU, or Joint Trade agreements between countries can affect the tariffs and the import duties paid on goods imported into the country.
Valuation of Goods
Shipments received from vendors or suppliers must show a cost that reflects the "fair market value" of the goods being imported. Undervaluing goods on commercial documents in an attempt to pay less duty is prohibited. Any post-entry charges (volume discounts, rebates, currency risk sharing, assists, royalties, etc.) must be communicated to the appropriate import function to ensure compliance with import regulations.
Free Trade Zones or Export Processing Zones
Countries around the world promote the use of Free Trade Zones or Export Processing Zones where companies can import their goods for manufacture and assembly towards exports under preferential tariffs and export incentives.
Companies can benefit from, and thus, need to track the duty drawbacks used in the shipping and receiving of goods.
Customs Compliance & Reporting
Companies must keep proper records to document an import transaction and ensure that the records are available upon request. The shipping process requires extensive documents based on goods, country of origin, and the exported country.
- Standardize corporate wide procedures and management reporting.
- Improve efficiency : stop continually searching for trade data.
- Save significant time in form preparation by eliminating repetitive typing, and reducing errors.
- Increase Productivity: permit preparation of multiple documents by keying in data just once.
- Expedite import clearance from US Customs.
- Perform duty drawback calculations.
The following actions and types of information are monitored in this module:
- Provides user-friendly screens and templates that allow importers to input shipping information efficiently.
- Integrates license data into invoice & shipping forms to expedite productivity & track balance values.
- Integrated Watch List Screening for Parties at the transaction level.
- Provides several report generation capabilities for audit and tracking purposes.