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PEM America Receives Over $250,000 in Duty Drawback

jlamadeleine • Feb 17, 2016

PEM America is an importer, distributor, and manufacturer of "top of the bed" textile products such as quilts, comforters, and pillows. We sell to the major department stores. Our products are manufactured principally in The People's Republic of China. All of our products are subject to a duty and yet, at PEM, we were exporting products and not recovering any of the associated duties. There was no system in place here. Once we became acquainted with International Tariff Management, what a world of difference it made. We had tremendous success from the very beginning. It was really just a matter of several months for us to see the drawback of customs duties. ITM has collected hundreds of thousands of dollars for PEM America, none of which we would have recovered without their help. I think in so many cases, [duty drawback] is an overlooked cash reserve. There is no question and there is no hesitancy in my recommendation of ITM. I would recommend ITM to any importer who pays customs duties. If you're not going to use this service, you'll be leaving an awful lot of money on the table.

Understanding Duty Drawback: A Comprehensive Guide

By Jack LaMadeleine • 12 Mar, 2024
In the intricate world of international trade, various mechanisms exist to facilitate smoother transactions and encourage commerce across borders. One such mechanism is duty drawback, a process that offers significant benefits to businesses engaged in importing and exporting goods. In this guide, we will delve into the concept of duty drawback, its benefits, and how businesses can leverage it to their advantage.

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By Jack LaMadeleine • 01 Jan, 2024
We are excited to announce our first monthly newsletter! Our goal of this new endeavor is to keep our clients and the companies in our network up to date with all information regarding drawback, CBP and more!

Free Trade Certification

10 May, 2022
A free trade agreement (FTA) is an agreement between two or more countries where the countries agree on certain obligations that affect trade in goods. Currently, there are 14 Free Trade Agreements in effect in the U.S. with 20 different countries. An importer collects and maintains the information to support the FTA qualification. An exporter from the U.S. is required to complete a declaration verifying that their goods qualify for free trade with the participating country. The rules associate with FTAs are complicated and the analysis is intricate. There are multiple steps to the process and each one must be completed in order to move onto the next. 1. Classify the product according to the HTSUS in order to determine the rule of origin for the specific finished product 2. Choose a preference criteria from the 4 available. 3. Use the rule of origin to determine the qualification of the finished good.

Do you rely on your broker to classify your imported products?

28 Mar, 2022
How proper classification can equate to big savings for your company.

Does your company have a viable drawback opportunity?

11 Feb, 2022
Duty Drawback is a refund from Customs, for 99% of the duties paid on imported materials that are subsequently exported, destroyed or used in the manufacture of exported goods. Today, only about 25 percent of eligible duty is being recovered. This means that $5 billion dollars goes unclaimed for drawback, and that money might be yours. So, how do you know if you are a candidate for a lucrative duty drawback program?

TFTEA starts this month!!

06 Feb, 2019
The new drawback regulations are written and will take effect on February 24, 2019. That’s less than a month from now!! ITM is prepared to continue filing on behalf of all of our clients and we are excited about the possibility of new opportunities that will now exist under the new guidelines.

Where do we stand with TFTEA

By jlamadeleine • 08 Oct, 2018
Customs has maintained that the ultimate goal of TFTEA is to streamline and simplifying the drawback process. At this time, there are no formal regulations in effect, but the guidelines have been released and reviewed extensively by the trade. After much conversation and deliberation, the trade was allowed and has formally submitted a response to Customs on these proposed regulations and now waits the allotted 90 days to find out how they have been received and what the final determinations will be.
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