Expanded network of Foreign Trade Zones in the U.S. to include fourth facility
Houston, USA, 8 April, 2014 – CEVA Logistics, one of the world’s leading supply chain management companies, today announced that it has opened a Foreign Trade Zone (FTZ) warehouse operation in Miami that has been approved by U.S. Customs and Border Protection (CBP). The new facility joins CEVA’s existing network of FTZ operations in Los Angeles, Dallas/Fort Worth and Chicago.
Located within CEVA’s Miami gateway operation, the new FTZ has an activated, secured and compliance controlled area consisting of 4,172 sq ft (388 sq m) and will utilize both of CBP’s approved inventory control systems. Depending upon the needs of the customer, CEVA will utilize the approved Zone Lot Tracking System or a First In, First Out Universal Identification Number system.
“The Foreign Trade Zone is designed to lower the costs of import duties and provide tax relief which customers can use to benefit their bottom line,” said Brenda Custer-Espeleta, Vice President of U.S. Customs Brokerage Operations for CEVA. “Given the strategic importance of this location to our customers, the FTZ’s cost reduction options and solutions for our import customers are compelling. CEVA’s licensed professionals are highly experienced in U.S. Customs regulatory compliance and the operation of Foreign Trade Zones. This ensures that our customers can maximize the benefits provided by an FTZ.”
Benefits offered by a Foreign Trade Zone are many and include: Duty deferral – duties paid only upon transfer of goods from the FTZ into the U.S.; duty elimination on exports; duty reduction if scrap/waste while within the FTZ; Harbor Maintenance Fee (HMF) deferred for Ocean arrivals – due quarterly rather than on arrival; and the biggest advantage - Merchandise Processing Fee (MPF) savings, paying a maximum of $485 weekly rather than $485 for each shipment.
CEVA previously announced that its Miami gateway also features a fully compliant healthcare cold chain hub, demonstrating the company’s ongoing commitment to investment in improving quality and compliance for healthcare customers.