FTZ Sub-Operator Solutions
The Foreign Trade Zone (FTZ) designation/activation process can be very time consuming and intrusive, while financial and logistical advantages continue to be under-utilized. Whether these obstacles are presented due to a lack of liquid-able funds, exhausted time constraints, or an unanticipated liability, there are alternatives to be explored. ITC-Diligence, in partnership with Tri-Link FTZ, has strategically provided a solution for businesses looking for alternative opportunities. The “FTZ SUB-OPERATOR” is an accepted concept by the Foreign Trade Zone Board and Customs and Border Protection. Tri-Link, an established FTZ operator, has positioned itself to offer these alternative solutions by incurring the liability, cost, and time consumption, while offering a much faster, inexpensive, and less vulnerable option.
FTZ Sub-Operator Benefits
- Minimized Cost Maintenance: The financial investment is curbed by the support of established and experienced operators. Rather than incurring the initial costs and recurring costs, these are absorbed by established and experienced operators. The business establishes a minimal cost maintenance program to operate under the authority of established and experienced operators through a contractual agreement.
- Expedited Implementation: The lengthy time-consuming process in many cases can become a deterrent to participate in the FTZ Program. The ability to expedite the process with an established operator will allow a business to begin receiving the benefits of the program within ninety days or less rather than 12-18 months.
- Limited Liability Protectionism: The application of a federal program, such as the FTZ Program, comes with significant responsibility and expectations. The compliance of FTZ Law, 19CFR, FTZM, and Internal SOP is mandatory. Adherence to these authorities create substantial liabilities that a business may not be prepared to undertake. Established operators offer protectionism to these businesses through its established liability by representing the business with the Grantee, Customs and Border Protection, FTZ Board, and other government agencies.