Foreign Trade Zone
Financial and Operating Benefits for You.
The Tulsa Port of Catoosa is home to Foreign Trade Zone 53. A Foreign Trade Zone (FTZ) is a secured site within the United States where foreign imports and domestic merchandise are considered to be outside U.S. Customs territory. Goods in the zone remain in international commerce as long as they are held within the zone or until they are exported.
The zone provides many financial and operating benefits for the user – particularly improved company cash flow. For instance, customs duties and taxes can be deferred on products or materials imported into the zone, or reduced by assembling components into final products within the zone. Duties and taxes may also be substantially reduced or avoided by inspecting and destroying substandard materials or defective merchandise in the zone. Bulk shipments may be purchased economically, brought into the zone and repackaged before being marketed in the U.S.
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There are many more ways to increase profits through the use of a Foreign Trade Zone.
Bonded Warehouse: Store Imported Goods with Confidence.
If an FTZ doesn’t fit your needs, you may want to consider storing your imported goods in one of the Port’s bonded warehouses. Bonded warehouses are secured areas in which dutiable goods may be stored or processed without payment of duty.