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May 12, 2010 |
Back to Press Summary |
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Management Dynamics and FTZ Corporation Announce Strategic Partnership |
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Alliance will Integrate and Expand the Use of Foreign Trade Zones in Global Trade Management |
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EAST RUTHERFORD, NJ, May 12, 2010 -- Management
Dynamics, a leading provider of
Global Trade Management
solutions, today announced a
strategic partnership with FTZ
Corporation, a leading provider
of Foreign-Trade Zone consulting
services and developer of the
SmartZone Premier application.
The partnership seeks to expand
the use of foreign-trade zones
integrated with core
Global Trade Management (GTM)
processes of import, export and
trade agreement management.
Foreign-Trade Zones have been in
use for nearly seventy six years
with the passage of the
Foreign-Trade Zones Act of 1934
to expedite and encourage
foreign commerce. Foreign-Trade
Zones are now a key component of
U.S. trade policy and offer
companies several opportunities
to reduce costs with:
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Exemption of duty
payment upon re-export of
goods |
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Relief from inverted
tariffs where raw materials
with high duty rates can be
transformed to an end
product with a low duty rate |
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Use of consolidated
weekly entries to reduce
merchandise processing fees
(MPFs) |
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Deferral of duty on any
inventory stored within an
FTZ |
TradeWizards.com is a streamlined
version of Amber Road's Trade Wizards solution, which is presently used by
companies around the world to make better global trade decisions. Upgrading to
the paid version of Trade Wizards offers unlimited transactions and additional
capabilities in the areas of export and import controls and trade documents.
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