Why Are Customs Brokers Critical Today | ITC Diligence

Why Are Customs Brokers Critical Today?

Young Company Uncategorized

Four months after the Constitution of Independence was signed, the US Customs Bureau was born as one of the first federal agencies in our country. On August 5th 1789, Captain James Weeks of the Persis landed in New York with various goods from Italy and was assessed the very first customs fee of $774.41. This marked the inaugural collection that the brand new agency would make its bread and butter. With this revenue stream in place for the federal government, a young country on the verge of bankruptcy was able to generate over 2 million dollars in fees during the first year of operating. For the next 124 years, customs costs were a main source of revenue for the United States, until income tax was finally approved in 1913.

With the many sources of income our government has today, many people ask; are customs brokers necessary anymore? Looking at the current climate of imports, it seems nothing can really get processed quick enough, and “Boatmageddon” continues. Running a business today has many unique problems and exciting opportunities that can build into the future. Looking at the history of Customs Brokers, it’s an industry that remains heavily regulated and under constant scrutiny. If a business relies on importing and exporting for their daily operations, it can be a daunting task to examine and abide by all the regulatory guidelines that are required to be followed both here and abroad. As a business owner, you have employees, taxes, balance sheets, liabilities, as well as future growth to think about. Customs tariffs add one more ball to juggle for the business owner and another layer of complexity when pricing out products and services for their clients and customers. With all the recent trade wars between the US and China, it’s easy to see where the need is for a helpful customs broker that understands these laws and regulations and has the experience to help businesses get processed quickly.

Our current importing climate would be significantly worse if it wasn’t for the help of companies like ITC Diligence. With their expertise, they can look at your business model and tell you exactly what kind of customs costs you are looking at. The reason they can do this so effectively is because ITC Diligence remains one of the top Los Angeles Foreign Trade Zone operators to date. Both Long Beach and Los Angeles port authorities are experiencing unprecedented wait times for products to get on rail or on wheels. FTZ management companies like ITC Diligence, offer a path to put control back in your hands and navigate the bureaucracy that is keeping all our toys and necessities buoyant.

A Foreign Trade Zone offers many significant benefits to importers and ITC Diligence will exemplify their 30 years of experience in this industry by helping you:

  • Hold and admit goods without paying customs fees
  • Choose between paying taxes for goods or materials
  • Never pay duties on exports from an FTZ
  • Goods that are damaged, defected, obsolescence, waste or scrap are assessed no fees
  • Export and return goods to an FTZ with no additional costs
  • Store, return, or destroy spare parts with no additional fees
  • Lower or eliminate customs duties delays
  • Pay no duties on labor, overhead or profit when an FTZ is used in production
  • Identify quality control gaps so products can be returned or destroyed with no fees
  • Pay nothing on in-bond zone to zone transfer of merchandise in an FTZ
  • And many more!

Keep the wheels of your business moving forward with the help of a Foreign Trade Zone. If you want expert advice that is backed by over 30 years of importing and exporting experience, ITC Diligence is your answer. Experts are waiting to help you save money on your operations and help your business navigate the constantly changing environment that Customs Brokers have come to know like the back of their hands.

Customs brokers, like ITC Diligence are still needed today because they help facilitate the better way to import and export goods in our country. Call to learn more about how your business will be impacted positively.