Origin Management
The TradeBeam Origin Management solution enables users to identify the best sourcing options using continually updated trade data, duty rates and rules of origin. With continuously updated trade content (duty rates and rules of origin), the system can calculate FTA eligibility for multiple sourcing and shipping scenarios. A well-executed origin management plan can can reduce net customs duties between 5 and 50 percent. The system then provides the tools you need to execute the optimization plan and maintain compliance.
In addition, the TradeBeam solution determines non-preferential origin (also called economic origin), assisting users in determining the country of origin for a product, and ensuring the appropriate country of origin information is shown on the documentation and shared with supply chain partners. The system creates an audit trail that allows users to sustain their preferential claims when audited by local authorities and decreases the risk of non-compliance penalties. The solution also allows for secured communication with suppliers and buyers on specific origin information. With a TradeBeam Origin Management solution you can improve your bottom line.
In 1995 there were 12 free trade agreements, in 2007 more than 120
An exponential increase in the number of free trade agreements (FTAs) has occurred over the last few years, bringing complexity to global trade. Duty rate implications can take years to come to full effect, and products may have been excluded from preferential treatment. Tariff shift rules and the regional value content (RVC) threshold differentiate on a product-by-product basis, and the calculation methodology for RVC can be very specific to products. TradeBeam helps you manage these complex rules, and updates the relevant rules automatically while keeping you informed of the impact of these changes on your environment.
Overcome the Challenges of Origin Management
- Perform what-if scenarios using combinations of Bill of Material and country duty schedules to determine duty rates and the best sourcing strategy
- Stay on top of changing free trade agreements (FTAs), and individual countries’ duty and tariff schedules
- Efficiently manage vendors via the Web for correct origin documentation (solicitation)
- Ensure compliance with local legislation by
- Using a single platform to document origin (supplier solicitation/data)
- Determining FTA eligibility
- Creating an audit trail for each item and shipment
