US Duty Drawback
A comprehensive and certified solution that supports all aspects of duty drawback
Maximize Refunds with MIC-CUST® US Duty Drawback
MIC-CUST® US Duty Drawback revolutionizes duty refund management by facilitating refunds of up to 99 percent on duties, taxes, and fees when merchandise is exported or destroyed within five years. This comprehensive solution supports various drawback claims, including unused merchandise, manufacturing, and rejected merchandise, covering all aspects of import and export transactions. The software solution is certified for Document Image System and simplifies the submission of essential documents such as Form 7553 and reconciliation spreadsheets.
With robust features like a complete audit trail, MIC-CUST® ensures tracking from customs declaration to final stock reduction. It efficiently manages import limits, re-import and re-export timeframes, and offers configurable stock withdrawal logic. The real-time BOM tracking further enhances inventory management, providing full visibility and compliance throughout the supply chain. Integrating MIC-CUST® US Duty Drawback with our import and export modules eliminates the need for costly interfaces, making it a cost-effective choice for global trade operations while automating tariff classification and export control compliance.
Benefits
Enhance Operational Efficiency with Advanced Inventory Management
Achieve precise inventory control with automated expiry date calculations and comprehensive tracking, ensuring alignment with customs regulations and improving overall efficiency
Optimize Duty Refunds and Calculation Accuracy
Improve accuracy in customs duty calculations with support for multiple methods and automated reconciliation. Capture all available refunds and ensure compliance with evolving regulations
Facilitate Effective Stock Transfers and Control
Manage inventory transfers seamlessly and implement stock blocking to prevent unauthorized withdrawals. Ensure robust control and compliance in all stock movements and customs operations
Highlighted Product Features
Complete audit trail
Track every step from customs declaration to stock reduction with a comprehensive audit trail. This feature ensures full visibility and compliance, essential for accurate reporting and regulatory adherence.
Advanced inventory categorization
Each inventory transaction is categorized by type and referenced, providing detailed tracking and facilitating precise inventory management and compliance with customs regulations.
Effective import limit management
Manage import limits based on tariff numbers, quantity, and value. Our system ensures adherence to customs authorization and optimizes the use of import quotas.
Automated re-import and re-export compliance
Automatically check and manage re-import and re-export time limits with customizable procedures, ensuring compliance and maximizing duty drawback opportunities.
Configurable stock withdrawal logic
Utilize advanced stock withdrawal methods such as first in, first out (FIFO), prior export principles and bill of materials (BOM) explosion. Features like ‘fill or kill’ support efficient inventory management and accuracy.
Real-time BOM tracking
Monitor and trace inventory at the BOM level, from import through to re-export. This capability supports precise tracking and compliance, enhancing your ability to manage complex supply chains and optimize duty refunds.
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Have questions about our company or products? Reach out to us, and our sales team will be happy to assist you. Or take advantage of the opportunity to explore how MIC solutions can elevate your business, with expert guidance from one of our specialists.