The North American Free Trade Agreement (NAFTA) promotes conditions of fair competition and increases investment opportunities in the world's largest free trade area.
NAFTA makes trade among Canada, the U.S. and Mexico virtually tariff free for qualifying goods. A Certificate of Origin, with all your shipment details accurately completed, can reduce your costs substantially, making your products more competitive and, therefore, more attractive.
However, the task of applying the Rules of Origin to determine if your products are entitled to NAFTA preferential tariff treatment can be complex and time consuming.
EDI Customs Brokers possesses the resources to help you manage your NAFTA processes, including licensed customs brokers and certified customs specialists as well as powerful, automated software solutions.
Maximizing NAFTA Benefits
If a product has a NAFTA Certificate of Origin, that product enjoys maximum preferential tariff treatment, preferred supplier status and no customs merchandise processing fees. These benefits are significant to importers/ exporters—but they don't come without work and cost. The steps required to enjoy the benefits include:
- Establish formal systematic NAFTA processes within your company
- Maintain compliance (or pay the penalties)
- Build and share NAFTA knowledge company-wide
- Manage NAFTA across your various plants, divisions, and even countries
- Be prepared for customs audits