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US Foreign-Trade Zone (FTZ) Management
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This article applies to:

  • Product: ONESOURCE Global Trade
  • Sub-Product: US Regimes & Connectivity

FTZ Management: Maintenance - Country, Port of Lading, and Exchange Rates

Valid country data and currency codes must be maintained within the system. This screen can be opened by choosing
Country
 from the
Maintenance
 menu. The
Country
 screen has search capabilities consistent with the
Maintenance Screen Search Criteria
 section of this User Guide.

Adding a New Country

To add a country to the system:
  1. Click
    Add Record
    .
  2. Enter the country data, then click
    Insert
    .

Modifying an Existing Country

To modify existing country information:
  1. Locate the country in the grid.
  2. Click
    Edit
    .
  3. Make any necessary changes, then click
    Update
    .

Deleting an Existing Country

To remove existing country information:
  1. Locate the country in the grid.
  2. Click
    Delete
    .

Port of Lading

Valid ports of lading must be maintained within the system. This screen can be opened by choosing
Port of Lading
 from the
Maintenance
 menu. The
PortOfLading
 screen has search capabilities consistent with the
Maintenance Screen Search Criteria
 section of this User Guide.

Adding a New Port of Lading

To add a port to the system:
  1. Click
    Add Record
    .
  2. Enter the new port data.
  3. Click
    Insert
    . All columns should be entered when adding a new port.

Modify an Existing Port of Lading

To modify existing port information:
  1. Locate the port in the grid.
  2. Click
    Edit
    .
  3. Make any necessary changes, then click Update.
Type Field
Description
FO
A Foreign Port
US
A United States (U.S.) Port
DeepWaterFlag Field
Description
N
A harbor maintenance fee will be calculated for ocean transport admissions to the zone, provided the port is defined as the U.S. Port of Unlading (USPortOfUnlading).
Y
FTZ Management will not calculate a harbor maintenance fee for the specified port.

Deleting an Existing Port of Lading

To remove existing port information:
  1. Locate the port in the grid.
  2. Click
    Delete
    .

Exchange Rates

FTZ Management handles conversion to U.S. Dollars (USD) from any foreign currency within the Exchange Rates table. This screen can be opened by choosing Exchange Rates from the
Maintenance
 menu.
The
Exchange Rates
 screen has search capabilities consistent with the
Maintenance Screen Search Criteria
 section of this User Guide.
The exchange rate value is determined as the foreign value multiplied by the currency conversion rate in effect on the date of export for the CF214, not the date of receipt. Some currencies are reported to CBP as a quarterly rate, while only the daily rates are acceptable for others. The quarterly rate is defined as the conversion rate in effect the first day of the quarter. FTZ Management accounts for the quarterly or daily rate conversion for each currency.
• The currency must be defined in the
Country
 screen. Otherwise, the correct currency code will result in a validation error.
• In the
Exchange Rate
 table, the user must enter the conversion rate for the specific date, beginning with the first day of the quarter. This must be done for each currency.
• If CBP accepts a currency as a quarterly rate, the
Quarter Flag
 should be set to Y when the user enters the first rate of the quarter. Each subsequent entry for that currency will automatically calculate the conversion rate based on the quarterly rate.
• The client must enter the
Conversion Rate
 on a daily basis; or else FIFO will fail, even though it is looking for the currency conversion for the export date.
Currency conversion can now be set up to automatically download daily from our Global Trade Content database. The Country table will need to have the Currency Code filled in and UseCurrencyFlag changed to Y.

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