NAFTA qualified goods are exempt from U.S. Customs merchandise processing fees (MPF).
Certified Chinese origin goods have duty rates 2 — 4 times lower than non-certified goods.
Benefits of North American Free Trade Agreement (NAFTA) and other FTAs
Using NAFTA and FTAs to lower or eliminate your import duty
Lowering or eliminating your customs duties and exemptions from manufacturing processing fees (MPF) is a smart business strategy. Whether your focus is on import NAFTAs, solicitation, key data storage or certificate generation, our online system can be tailored to cost-effectively suit your particular FTA needs
An economical NAFTA/FTA system that can be implemented in days
Visual NAFTA, our web-based NAFTA and FTA software solution is designed to help you lower customs duties by helping you fulfill NAFTA and FTA certificate creation, solicitation, distribution, and tracking obligations. Centralize all your NAFTA and free trade agreement management into one system, and securely share your data company-wide.
Our solution can also be integrated with a variety of ERP systems in just a matter of days, requiring minimal IT resources on your end.
It’s Essential to Control your Free Trade Participation Costs
As with most benefits, there are costs to participating in free trade programs like NAFTA. Costs in the form of human resources (yours or a consultants) to execute and manage the grueling workload, coordination, and integration involved. As well as undertaking the due diligence processes necessary to comply with the complex legal requirements.
Penalties for Non-Compliance undermine Free Trade Benefits
Manually creating, updating, storing, and searching for Free Trade certificates, as well as maintaining a constantly changing, complex Bill of Materials, is time consuming and error prone. So, too, is ensuring the certificates you accept can withstand government scrutiny, and are applied consistently and appropriately, otherwise your company is at risk for substantive retroactive duties and expensive penalties, and your management is at risk for contravening Sarbanes-Oxley (SOX).
As enabling agents, expert, streamlining automation technologies help companies cost-effectively enjoy the bottom line rewards by making it easier to fully realize all the benefits, overcome serious resource challenges, improve and integrate processes, manage compliance obligations, and mitigate compliance risk.