Two Cost Effective Opportunities for US-to-Colombia Exporters

Posted by Harry Tapias on March 11, 2013

Colombia Free Trade Agreement48 hour Custom Clearance, & 6 hour clearance for $200 and less shipments.

48 hours Clearance: According to the US Colombia Free Trade Agreement (CFTA), both nations are to comply with the clearance of goods from customs within 48 hour of arrival to either country. While customs is required to finalize determination of any applicable duties, taxes, and fees, importers may retrieve the goods without final determination after the 48-hour period. This is great news for US business as it permits entrepreneurs to estimate when their products will reach the shelves of retailers without the fear of undue delay caused by customs.

Either nation could however require from the importer a deposit or guarantee upon retrieval in the event that a fee or duty must be paid.

6 hr clearance for $200 less shipments: 48-hour release is great,

but entrepreneurs may need immediate clearance of goods. This can be accomplished in the

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case of express shipments. By May 2014, The CFTA requires procedures for expedited custom procedures for arrived goods accompanied with proper documents without regard to the weight or value of the product. Even more exciting is that where express shipments valued at $200 USD or less won’t require formal entry documents or assessment of duties or taxes, as long as the shipment is not a restricted good. This is gold for Etsy-type sellers. Quick easy one-piece sales.

Topics: 48 hour clearance, Business Law, CFTA, clearance, Colombia, customs, Etsy, Free Trade Agreement, FTA, six hour