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Foreign Trade Zone

FOREIGN TRADE ZONE

Regal Logistics now operates under Foreign Trade Zone (FTZ) #21 Coastal including the Port of Charleston. Regal's FTZ program enables customers to defer duty on product until sale or removal from the zone. Goods imported into an FTZ can be transferred duty free to other FTZs in the U.S., Canada and Mexico until the goods are consumed or re-exported. Additionally, customs clearance and service fees are lower.

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FTZs are secure areas under U.S .Customs and Border Protection supervision and outside Customs territory for the purpose of duty payments. Regal Logistics joins only two other FTZ operators in the Charleston area. "We see this as an opportunity to help new business thrive in the Charleston area, potentially resulting in additional jobs," said Garry Neeves, Regal Logistics Vice President.

Regal Logistics customers are taking advantage of time and cost savings when they use FTZs to reduce logistics and import processing overhead in the supply chain. "Our FTZ activation is an enhancement to our overall service offerings and allows our customers' goods to flow to market more efficiently," adds Neeves.

For example, Odyssey BMX has two options when working with Regal:

  • Import finished bikes from Asia for distribution to U.S. markets and use Regal's comprehensive warehousing, distribution, transportation and value added services.
  • Import bike parts for manufacture in the U.S., benefit from FTZ duty reduction and pay lesser duty rate on raw materials or finished product once removed from the zone. Even more FTZ benefits apply to drive cost and time out of Odyssey’s supply chain: reduced delivery time; merchandise processing fee savings when all product entries are batched into the FTZ on a weekly basis; duty elimination on waste or destroyed product, labor, overhead or profit attributed to FTZ production operations; and deferred harbor maintenance fees that are paid quarterly-not at entry-creating a cash flow advantage. Odyssey may also use Regal's full array of logistics services for convenient one-stop shopping.

FTZs have been approved for a wide variety of manufacturing industries including: electronics, computers, food products, power tools, lawn care products, sporting goods. Importing merchandise into an FTZ is considered a C-TPAT best practice.

FTZs benefit everyone by enabling U.S. based businesses to improve their bottom line, offer more value to their customers and maintain cost-effective operations here in the United States.

Will you benefit? Do you import products into the U.S.? Does the annual value exceed $1 million? Is the product used in manufacturing, assembly or other value-added process? Do you re-export? Do you have just-in-time inventory? Do you import products subject to a quota? If yes, Regal Logistics can help.