1.0Customs & International Trade Law Firmhttps://diaztradelaw.comJennifer Diazhttps://diaztradelaw.com/author/jen/rich600338<blockquote class="wp-embedded-content" data-secret="EWihkf02AL"><a href="https://diaztradelaw.com/services/importing/bonded-warehouse-applications/">Bonded Warehouse Applications</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://diaztradelaw.com/services/importing/bonded-warehouse-applications/embed/#?secret=EWihkf02AL" width="600" height="338" title="“Bonded Warehouse Applications” — Customs & International Trade Law Firm" data-secret="EWihkf02AL" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript"> /* <![CDATA[ */ /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); //# sourceURL=https://diaztradelaw.com/wp-includes/js/wp-embed.min.js /* ]]> */ </script> Bonded Warehouse and Foreign-Trade Zones (FTZ) may be used as duty saving tools. Miami is known as the gateway to Latin America, where merchandise from Asia is transshipped through Miami, warehoused and distributed, and sent to its ultimate destination in Latin America. In these instances, merchandise transiting through Miami via a bonded warehouse or FTZ does not incur customs duties. What is a Bonded Warehouse? A Bonded Warehouse is a customs regulated warehouse which must comply with strict CBP requirements. There are 11 classes of bonded warehouses. In order to become a bonded warehouse, a detailed application must be filed and background checks approved by U.S. Customs. Customs entry must still be filed for merchandise in, or transiting through a bonded warehouse. Duties are deferred until goods technically enter the United States for consumption, or are deferred altogether if exported. What is a Foreign Trade Zone (FTZ)? Foreign Trade Zones (FTZs), although technically within the geographic limits of the U.S., are considered outside U.S. Customs territory. Foreign and domestic merchandise may be admitted into an FTZ for operations such as storage, exhibition, assembly, manufacture, redistribution, processing, and more. FTZs allow users to defer, reduce, or eliminate Customs duties. For example, in South Florida, companies have multiple options. One is the Miami Free Zone, a fully functioning general-purpose FTZ. Otherwise, locally, companies can use their own warehouse locations with the Alternative Site Framework (ASF) FTZ program in place with the Miami Free Zone (FTZ 32), PortMiami (FTZ 281) and the City […]