eCustoms Launches 2007 HTS Code Classification Solution
eCustoms' web-based solution helps importers and exporters manage wide-ranging amendments to the Harmonized Tariff System (HTS), which take effect on January 1st, 2007
Buffalo, N.Y. (PRWEB) October 15, 2006 -- eCustoms has launched a web-based tariff classification and management solution that will help international trading companies manage sweeping changes to the Harmonized Tariff System (HTS), which take effect on January 1st, 2007.
More than 350 amendments to HTS Codes and notes have been made, affecting 83, or almost 90%, of the 97-chapter Harmonized Commodity Description and Coding System.
It’s the biggest revision of the Harmonized System since its introduction in 1988 as the global classification standard.
This has major implications for importers, exporters, customs brokers, freight forwarders and carriers, because incorrect classifications of goods can result in the seizure of shipments and the imposition of heavy fines.
“This is not a fine-tuning exercise. This is an overhaul of the system, mainly to reflect technological changes,” said Jackson Wood, eCustoms Corporate Business Manager. “Everyone involved in international trade are required to take notice especially as U.S. Customs authorities are emphasizing the need for accurate HTS code reporting because of ongoing national security concerns.”
To help comply with the amendments, eCustoms has developed CustomsIQ, which will help businesses update their HTS information, as well as assist them in determining the correct customs duty rate.
In addition to helping them manage the 2007 HTS revisions, CustomsIQ empowers businesses to formulate a fully-informed product importation strategy and aids them to comply with international trade laws along with the tariff regulations of major trading nations around the world.
eCustoms provides automated solutions that help companies involved in global trade achieve compliance rapidly in the short term and continuously over the long term. These solutions include export and import documentation, electronic submissions to Customs, NAFTA management, tariff classification, Restricted Party screening, ECCN analysis, export license determination, usage audit reporting, and export license application, submission and post approval management.
About eCustoms
eCustoms has been delivering automated and integrated international trade solutions for 25 years, with a focus on technology that helps manage country-specific trade regulations, customs compliance, tariff management and import/export documentation. In addition, eCustoms offers brokerage services and other customs consulting services, including support for managing domestic and international customs processes. For companies who want to maintain their competitive edge, the smart choice is to integrate eCustoms' suite of trade applications, including web-based solutions, into their existing IT infrastructure. For more information about eCustoms and its compliance solutions, visit: www.ecustoms.com.
For more information about this press release, contact:
Alfred Hille
eCustoms
www.ecustoms.com
1-877-328-7866
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