When
evaluating any FTZ inventory control system, a company should
consider the specific requirements of all applicable government
agencies, the required interaction with these agencies, and how
a system interacts with existing company systems. A compliant
inventory control system should contain the following data:
Unique Identification Number (sku or part number)
Description
Annual Balance Information by Status (Foreign, Domestic,
Total)
Foreign Trade Zone Status
Customs Form 214 Number
Internal Tracking Number
Date Admitted
Country of Origin
Unit Value
Harbor Maintenance Indicator
Vessel Name
Export Date
Export Port
Bill of Lading
Import Date
Unlading Port
Customs Form 7512 Document Number
Customs Form 7512 Date
Customs Form 7512 Port
Purchase Order Data
Weight
Customs Transaction Number and Date
Entry Reference Number
Entry Release Date
In
addition, when Foreign-Trade Zone merchandise is removed from
the Zone, the system must be able to relate the merchandise removed
back to the Customs form 214 on which it was admitted to the zone.
The following information must be included in the system:
Specific Customs Form 214 the merchandise was admitted on
Overall Value
Value of the foreign content in the merchandise
Country of Origin of the foreign status parts/material
in the merchandise
Zone status of all parts/material in the merchandise
Duty Rate of every part/material in the merchandise
Harmonized Number of every part/material incorporated
in the merchandise
In
addition, there are two reports that must be produced annually:
the Annual Reconciliation for U.S. Customs and the Annual Report
to the Foreign-Trade Zones Board.
The Annual Reconciliation for U.S. Customs must contain the following
information:
A description of the merchandise for each part number
Quantity on hand at the beginning of the year
Quantity on hand at the end of the year
Cumulative receipts and transfers by part number
Quantity on hand at the end of the year
Negative and positive adjustments during the year
The
Annual Report for the Foreign-Trade Zones Board must contain the
following:
The value of merchandise forwarded into the U.S. market
The value of merchandise forwarded to foreign countries
The value of merchandise forwarded to other Foreign-Trade
Zones
The five main foreign status items received at the zone,
classified by value
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