Does your business send shipments to Latin America (LATAM) and Caribbean destinations? If so, IBC’s Bonded Warehouse service allows you to take custody of international purchases into the U.S. for a limited time, without having to pay duties.
This process provides significant savings for importers who re-export their purchases to end-users in other countries.
With this resource, we solve some of the challenges businesses face when transporting shipments to LATAM and Caribbean destinations.
What is an In-Bond Export Consolidation Facility?
IBC’s In-Bond Export Consolidation (IBEC) facility, sanctioned by U.S. Customs and Border Protection (CBP), is a highly secured area where goods that would otherwise be subject to duties may be shipped, stored, manipulated, and later transported without duty payments.
In other words, this facility is recognized as a private, duty-free zone with benefits similar to those that apply for travelers shopping at international airports, sea terminals, cruise ships, or during international flights.
The term duty-free merchandise is defined as merchandise on which the liability for payment of duty or tax imposed by reason of importation has been deferred pending exportation from the customs territory. Therefore, retail businesses can sell merchandise that is exempt from duties and taxes with the understanding that those goods will be transported out of the country for use after a short time in the IBEC facility.
Under normal circumstances, without IBEC services, origin countries may subject importers to the following:
Value-added (VAT) tax.
Local tax on certain goods.
Immediate direct transfer of goods to outbound carriers.
With IBC's IBEC services, your business can consolidate multiple in-bonds into one shipment for ease of use into the foreign entry point, while deferring duty for a short period inside a bonded warehouse.
IBEC Warehouses can receive bonded merchandise to consolidate on our premises without the need for a direct transfer to the outbound carrier. Once an IBEC entry is issued, the importer has another 30 days to initiate outbound shipments.
How Does an IBEC Facility Streamline Shipments to Latin America?
IBC uses a bonded space designated for consolidation of in-bond goods to be shipped out overseas to a foreign consignee.
This service is designed for goods manufactured outside the U.S. that need to reach the end-user or supplier within a specified timeframe. E-commerce global sales are driving high expectations, and rising product demand comes with the anticipation of rapid, prompt fulfillment.
The ability to provide quick turnaround logistics on inbound shipments and offer express delivery solutions to the end-user is imperative in the lightning-fast global e-commerce environment. Not to mention, your business can significantly reduce operational costs in the process.
Is There a Hub For Direct Export to Latin American and Caribbean Countries?
IBC can consolidate all your in-bond shipments and transport them straight out of our MIA-HUB.
Unlike other integrators, IBC’s main hub is right in Miami’s International Airport for exporting directly to all of our Latin American and Caribbean destinations. No other integrator can offer this service.
In fact, most integrators prefer to handle local domestic shipments to avoid the hassles of transferring them under an IT 7512 Form to their hub(s) or gateway(s) located in other cities across the U.S.
What are the Benefits of Cargo and Express Consolidation?
Over the past four decades, IBC has invested and developed an intricate express network across Latin America and the Caribbean to express consolidation exports daily.
Our overseas customers take advantage of these efficient connections and avoid paying the high-cost airfreight minimums. Your business can begin saving money today by moving your in-bond shipments into our IBEC Warehouse for streamlined express consolidation logistics, even with multiple in-bond shipments.
IBEC service gives your organization the ability to consolidate multiple in-bonds into one shipment for more efficient clearance into the foreign points of entry. It also reduces the additional handling and coordination for different master airway bills. When you combine your shipments into one outbound export, you can significantly reduce the costs of overseas handling and clearance to keep your end-user prices competitive.
Rather than exporting your various in-bonds with single master bills for each, IBC offers the flexibility to combine all of your freight to reduce handling and administrative costs as well as local and destination expenses. Simply combine your domestic and in-bond shipments into a single consolidation to reduce additional handling and documentation at both origin and destination.
You can consolidate multiple shipments for rapid exports or create your own back-to-back pipeline to the Consignee/Broker of your choice.
In addition, IBC’s expert team can help you select the best mode of transportation needed for serving Latin American and Caribbean markets.
Consolidate Your Cargo with IBC
IBEC allows your business to offer a variety of shipment options to your end-users. We provide all the related services needed for IBEC documentation, storage, consolidation, and other logistics services required by international business clients.
Our cargo consolidations include air, ground, and ocean service. Our IBEC cargo team assists with IE (immediate exports ) and TE (transportation exports) entries to get your global shipments moving for any mode of transport designated. So whatever mode you require, we bring nearly four decades of worldwide experience to provide you with a broad range of integrated services including: