According to Oradell, N.J.-based Comstock & Theakston Inc., 90 percent of the duty drawback refunds companies are eligible for in a typical year remain unclaimed and are ultimately lost.
Duty drawback is the recovery of U.S. duties paid on merchandise that enters and subsequently leaves the commerce of the country to join the commerce of another country (including Canada and Mexico). Additionally, a drawback can be claimed on goods damaged and not useable upon arrival.
Millions of dollars go unclaimed either because businesses don’t know about it or they worry about what it will take to collect the money.
Freight Management Inc. partners with industryleading duty drawback companies to help you get the most efficient refund back on your inbound freight.
Here’s how we do it.
Areas of Exposure/Opportunity
Drawback Claim Preparation
Drawback Records Needed
Destruction Drawback (if applicable)
Unused Merchandise Drawback (if applicable)
Methods of Matching Exports to Imports (if applicable)