While most companies would like to take advantage of the savings available under the more than 300 FTAs currently in effect, many are discouraged by the complexity of the regulations as well as the documentation requirements.
QuestaWeb’s FTA module alleviates the most burdensome aspects associated with FTA use.
Our FTA module automatically assesses whether goods qualify under one or more of the 300 FTAs. Better still, the built-in logic recognizes that there is more than one way for an importer or exporter to qualify goods under an FTA. The three methods are: Regional Value Content (RVC); Tariff Shift (moves from one HTS to another based on the rules in the agreement); and other rules of origin specific to the HTS number. QuestaWeb’s FTA module checks eligibility against all existing FTAs – across all three methodologies – to maximize the probability of qualifying goods.
And, QuestaWeb’s FTA module operates on the premise that merely having a tariff number and a country of origin isn’t sufficient proof to satisfy FTA requirements. Other specific documentation (e.g., an affidavit of origin) is needed to meet those requirements. Without them, no definitive opinion can be rendered on whether a product actually qualifies. So, after completing its analysis, the QuestaWeb FTA module offers a “may qualify” opinion.
Our FTA module then allows the user to compile and store all the documentation that supports qualification in one place with the product. Beyond assisting efforts to comply with each specific FTA provision, the module’s storage functionality enables users to immediately access and provide supporting documentation to customs authorities, should they request it. Once all of the necessary documentation is assembled within QuestaWeb’s FTA module, the user has the option to convert the determination from a “may qualify” to a “does qualify” status.
QuestaWeb designed the FTA module to help companies leverage the savings and business growth opportunities FTAs confer by simplifying the compliance process from a preliminary indication of qualification to a fully supported qualification determination. Our user-friendly FTA module promotes peace of mind by assuring that all the required supporting documentation is assembled and stored before the user moves from the “may qualify” to “does qualify” status.