Duty drawback can result in large sums coming back to your company. The documentation can be intense, but the Flexport Platform streamlines filings for a new way to claim your cash.
Your Eligibility Explained
Consult with Flexport drawback experts to discover your program eligibility. Learn when you can claim a duty refund and what kinds of records you have to keep afterwards.
Flexport handles the required agency applications that let you start the process. In the US, this includes waivers and privileges, so you can claim past and future refunds, plus expedite your time to payment.
In the Flexport Platform, your data is easy to retrieve and structured for filing. We’ll aggregate your ACE data, comb your SKUs, and check your supplier and customer records for every inclusion you can claim. Then, we’ll file for you and back you up with an audit trail.
Time your drawback cycles at whatever cadence makes sense for your business. When Flexport applies for privileges on your behalf, your duty refunds take approximately six weeks instead of the usual 12 months.
There are no workarounds to drawback. Compliance starts with data accuracy, an easy feat in the Flexport Platform. Your drawback team takes on all administrative duties, so you can consider it as good as done.
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Duty drawback is probably lesser known because it can be complex. Duty minimization and avoidance strategies are available in other countries; all are dependent on data.
At Flexport, we are able to offer drawback services relatively easily because the Flexport Platform streamlines an otherwise arduous preparation process.
Realistically, without the speed and automation of the Flexport Platform, some companies would spend more on preparation than they would receive as a refund.
That’s not a reflection of refund amounts; it’s an indication of how much documentation you need to file a compliant claim.
With the Flexport Platform, even companies with lesser drawback recoveries can achieve a profitable and worthwhile drawback program.
The answer nobody really wants: It depends.
For eligible companies, average claims are approximately a hundred to a few hundred thousand dollars. For larger companies, it could be a seven- or eight-figure number.
You can submit drawback claims monthly, quarterly, semi-annually, or annually, depending on what makes the most sense for the size and scope of your business.
Per US regulations, Flexport performs an annual audit of any claimant's drawback claims and related activities to ensure compliance. The more import and export data we capture on the Flexport Platform, the more comprehensive and complete our drawback preparation can be. Clients don’t always have to get involved.