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:
- ClickAdd Record.
- Enter the country data, then clickInsert.
Modifying an Existing Country
To modify existing country information:
- Locate the country in the grid.
- ClickEdit.
- Make any necessary changes, then clickUpdate.
Deleting an Existing Country
To remove existing country information:
- Locate the country in the grid.
- ClickDelete.
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:
- ClickAdd Record.
- Enter the new port data.
- ClickInsert. All columns should be entered when adding a new port.
Modify an Existing Port of Lading
To modify existing port information:
- Locate the port in the grid.
- ClickEdit.
- 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:
- Locate the port in the grid.
- ClickDelete.
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.
Related Content
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FTZ Management: Maintenance Overview, Screen Search Criteria and System Defaults
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Article,
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