BEST-IN-CLASS FREE TRADE AGREEMENT (FTA) SOFTWARE
Utilized by Industry Leaders for Automated FTA Origin Determination & Compliance
In today’s fiercely competitive global market, manufacturers and importers alike are challenged to find innovative ways to increase market share. This includes understanding the various trade-related programs that can reduce risk, costs and improve import cycle-time.
Enter Free Trade Agreements.
Free Trade Agreements reduce or eliminate import tariffs on selected goods traded between signatory countries. An FTA eligible good must meet certain conditions related its production process, and/or its percentage of locally sourced content.
For manufacturers, this is a complex process which begins by pulling production bills of material (BOMs) and performing the respective content calculation. That’s just the beginning. If their goods qualify, manufacturers must prepare and disseminate potentially thousands of FTA Certificates of Origin – a process which may need to be repeated multiple times during the calendar year.
For importers, it means identifying source suppliers in countries which have a reciprocal FTA program, then validating whether their goods actually qualify. Managing multiple agreements for hundreds — or even thousands — of products is a time- and labor-intensive process. PRECISION Free Trade Agreement is an automated customs compliance solution that simplifies this process.
With PRECISION’s free trade agreement management solution you can solicit for inbound Certificates of Origin from suppliers, easily assess your entire product line under FTA Rules of Origin, obtain a full detailed audit trail of the results, and generate outbound Certificates of Origin to customers. Our software seamlessly integrates into your existing ERP and business systems for consistent, refined calculations and centralized data.
The PRECISION Free Trade Agreement solution manages all 400+ trade agreements recognized by the World Trade Organization (WTO) in every region of the world and covers Rules of Origin across all Harmonized Tariff Headings (HTS).
KEY FEATURES OF PRECISION FREE TRADE AGREEMENT SOFTWARE
- Complies with FTA requirements for all 400+ WTO trade agreements
- Covers Rules of Origin across all HTS headings
- Determine origin status under FTA using automated rules of origin
- Prepare Certificates of Origin and declaration statements for customers
- Solicit and manage supplier Certificates of Origin
- International currency conversion
- Detailed origin audits
- Report archiving to fulfill the retention requirement
- Creation of “What if” scenarios such as upcoming free trade agreements
COMPLIES WITH ALL WTO AGREEMENTS
Ensure Timely Preferential Tariff & Duty Drawback Claims
PRECISION FTA complies with FTA requirements for the 400+ trade agreements recognized by the WTO and covers Rules of Origin across all HTS headings.
Our free trade agreement management solution determines the FTA origin of goods in relation to tariff shift, regional value content (RVC), country specific HTS# prioritization and de minimis thresholds using current FTA legislation in North America, Latin America, Europe and Asia Pacific to ensure you never miss the benefits of preferential duties.
VERIFY PRODUCTS IN REAL-TIME
Process FTA Origin Determination in Fractions of a Second
The PRECISION Free Trade Agreement solution reduces the burden of FTA compliance by automating the most time-consuming and labor-intensive steps. This includes automatically qualifying goods according to current preferential Rules of Origin legislation. With our free trade agreement software, you’ll get answers in real-time — and in fractions of a second.
STREAMLINE CERTIFICATES OF ORIGIN
Save Time & Increase Customer Satisfaction
PRECISION’s free trade agreement management solution helps improve customer satisfaction by ensuring the timely generation of supporting documents. Our software automatically creates Certificates of Origin and high quality cover letters for your customers, as well as automatically soliciting Certificates of Origin from suppliers.
ENSURE ONGOING COMPLIANCE
Gain Confidence with Automated Audit Trails for all FTA Determinations
PRECISION’s Free Trade Agreement software performs an automatic audit trail of FTA origin assessment and archives Certificates of Origin to simplify your interactions with customers and compliance officials. This paperless archive conforms with record-retention rules and makes document storage and retrieval virtually effortless.
MINIMIZE COSTS & MAXIMIZE RETURN ON INVESTMENT
Reduce Duties From the Go
Our free trade agreement management solution helps you to minimize costs by qualifying for preferential treatment of your goods. With our customs compliance software, you can choose the FTA Rules of Origin you need, potentially saving thousands of dollars over purchasing pre-packaged rule content. Plus our easy on-boarding procedures means you can be “up and running” within days or weeks — not months — so that you can quickly realize a return on your investment.
PRECISION FTA — A Global Automated Customs Compliance Solution
PRECISION Free Trade Agreement software is used by high volume and high value manufacturers and importers working across every region of the globe. Precision Software’s customers span multiple industries including banking and finance, life sciences, high technology, retail, industrial, automotive, higher education and public sector as well as logistics providers.
To find out how PRECISION can streamline free trade agreement compliance across your organization, schedule a consultation today.