Foreign Trade Zone Manual

Page 244

Risk The degree of exposure to the chance of noncompliance which would result in the loss or injury to the trade, industry or the public. Subzone A special-purpose zone established as part of a zone project for a limited purpose that cannot be accommodated within an existing general-purpose zone. Subzones must be sponsored by the Grantee of a general-purpose zone. User A person or company using a zone for storage, handling or processing of merchandise. An Operator may authorize a User to maintain its own inventory system and procedures manual. However, the Operator remains responsible to CBP for inventory control unless the User posts its own Operator’s bond. Weekly Entry Procedures A CBP procedure that permits selected qualified zones and subzones to file a weekly entry on CBPF 3461 for the estimated removals of merchandise destined for domestic consumption during the following business week. Once the Port Director has approved the entry, the Operator may ship the products all week up to the quantity estimated. Weekly entry may be approved for zone operations of a repetitive nature in order to allow for expedited removal of merchandise from the zone. Zone Lot A collection of merchandise maintained under an inventory control method based on specific identification of merchandise admitted into a zone by lot and lot number (ZLN). Zone Restricted Status Status of zone merchandise transferred to a zone for the sole purpose of exportation or destruction. Zone restricted merchandise cannot be changed or brought into Customs territory without the specific permission of the Foreign-Trade Zones Board on a case-bycase review. Zone Status The status of merchandise admitted to a zone, i.e. domestic (D), non-privileged (NPF), privileged foreign (PF) or zone restricted (ZR).

243


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
Foreign Trade Zone Manual by worldtradepresss - Issuu