Duty Optimization & Recovery Services
Stop Overpaying Your Customs Taxes!
Reduce your landed cost and maximize value with duty optimization and recovery services. Whether its looking at future opportunities, filing for duty drawback, or correcting historical errors, Trade-IQ can evaluate your program and file for duty refunds where eligible.
Proven Results
Trade-IQ Principal Partner Shannon Bryant has implemented these strategies to save major companies over $90MM.
The Duty Optimization Process
Our comprehensive 4-phase approach ensures maximum duty savings and compliance:
1 Phase 1: Onboarding
- • Discuss client's duty optimization opportunity
- • Pro Tip: If you're paying import duties, there's probably an opportunity
- • Sign agreement, vendor set-up, issue ISAs or 2-way Non-Disclosure Agreement to protect your proprietary data
2 Phase 2: Kick-Off
- • Client provides data from kickoff RFI
- • (Requires information.)
- • Client provides supplemental data, documents, and information as requested
- • Trade-IQ will coordinate stakeholder interviews with internal subject matter experts to validate assumptions
3 Phase 3: Validation & Alignment
- • Review draft deliverable & summary with stakeholders to review identified opportunities
- • Determine which opportunities to move forward with
- • Align on next steps: priorities, and execution plan to capture opportunities
- • Note: 50% deposit on agreed upon opportunities is due at this time
4 Phase 4: Execution
- • Execute actions as agreed upon in collaboration with brokers, vendors, and service providers
- • Trade-IQ will provide final deliverable with operational tips & suggestions, and training, if applicable
Note that 50% remaining balance is due upon completion of all agreed upon actions and acceptance by customer.
RFI Requirements
To begin the duty optimization process, we'll need the following data and documentation:
Master Data
- • Master Data Dictionary (RFP)
- • SKU, Product Description, HTS Code
- • COO, if available
- • Supplier Name, if available
- • Unit of measure provided at the General Ledger
Transaction Data
- • 6 001 Full Line Details Report from ACE
- • Broker Entry Line Details Report at SKU Level***
- • Includes: SKU & Product Description
- • MID code, COO, Tariff 1 + 2, provisional tariffs
- • Includes: ADD COO, 300 GCA results if applicable
- • **Indicates where applicable
A duty optimization study can be canceled without ACE fees; however, we recommend the client provide:
There's a data ACE fee and Broker data should be from trader's side > 6-24 days prior to cover all automated entries (314 days after entry summary) plus all entries still eligible for protest (180 days after liquidation).
Why Choose Trade-IQ for Duty Optimization?
Trade-IQ is a boutique trade consulting firm that provides custom data and optimization assessments, managed trade services, and contract trade program support to US importers and exporters.
Our customers are importers and exporters that are direct or indirect buyers on their international purchases or sales without dedicated in-house trade compliance support or resources to manage their international customs & indirect tax spend.
Click here to download our one pager on Duty Optimization
Expert Knowledge
Years of experience in international trade compliance
Cost Effective
Reduce compliance costs and avoid penalties
Personalized Approach
Tailored solutions for your specific business needs
Ongoing Support
Continuous guidance and compliance monitoring