4 Challenges of Claiming Preferential Origin and How Customs Software Overcomes Them
When there is a free trade agreement (FTA) between countries, the parties who have signed the agreement can claim tariff benefits that result in lower or zero duty rates. Claiming preference can save importers a lot of money and can give exporters a distinct competitive advantage when selling their products internationally. Yet preferential origin management is often considered an insurmountable task for companies, so much so that many leave money on the table rather than trying to tackle the difficulties of claiming preference.