|Display and manage required fields for each agreement|
|Utilize details for repetitive use during the effective period of the claim|
|Automatically populate claim details by BOM qualification or directly from supplier input from Campaign Management|
|View historic claim details and manage for future distribution to downstream partners|
Certificates of Origin
|Generate supporting certificates of origin|
|Map required product claim details directly to the certificate form|
Central GPM and Transactional Usage
|Manage claim details centrally for each product|
|Generate certificates based on products and transactions|
Product Claim Details and Storage
Issues and Challenges
Identifying a potential trade agreement for a product is not enough to fully exercise an agreement's claim. Companies submitting the claim are required to provide supporting information and documentation. This includes specific details about product qualification (preference criteria, COO, etc.), product information and specific certificates of origin. This information varies from one agreement to another and can be difficult to manage and monitor within one product repository.
How Amber Road Can Help
Amber Road's Trade Automation solution provides a supporting page behind every agreement. This supporting page contains the specific "claim details", or data elements required to make a preferential claim for that specific agreement. By storing documentation in a central location, companies can better manage the agreement qualification process and respond quicker for any auditing purposes.
Free trade agreements such as NAFTA, CAFTA and others represent an attractive opportunity for exporters to grow their business overseas by making their products more affordable in growing markets. And for importers, FTAs allow them to dramatically lower the duties and taxes they pay.
Today there are more than 500 free or preferential agreements around the world for companies to use.
“By automating the NAFTA qualification process, generating accurate trade documentation to maintain export compliance, and taking advantage of preferential duties, we save $1.2 million in duties and taxes.”
Project Manager Global Logistics, Trade and Compliance
Global Trade Minute #3 - Duties versus Tariffs
While often used interchangeably, duties and tariffs are not the same. Take a minute to learn the difference -- it will help you identify cost savings opportunities within your supply chain!