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US Foreign-Trade Zone (FTZ) Management

FTZ Management: Assignment - Release Scrap Hold

The
Release Scrap Hold
 screen is used for releasing scrap transactions from inventory and reporting scrap transactions to CBP. This screen can be accessed by choosing
Release Scrap Hold
 from the Assignment menu. During the scrap reporting period (daily/weekly/monthly), the system accumulates all scrap transactions into the
Release Scrap Hold
 grid.

Assigning a Scrap Entry Number to a Transaction

To assign a Scrap Entry Number to a transaction:
  1. Click
    Fill All > Release
    .
  3. To report the scrap on an Entry Summary, check the
    Recoverable Scrap
     box. Activating the
    Recoverable Scrap
     toggle will trigger two additional fields (
    Scrap HTS
     and
    New Unit Price
    ) to appear on the screen. These fields are optional but can be used to enter further information regarding the scrap.
  5. Enter all necessary information, then click
    Fill All > Release
    .

Releasing Scrap Transactions by Product Number

To release scrap transactions by product number:
  1. Choose a product from the
    Product Number
     drop-down, then click
    Fill
    .
  3. To report the scrap on an Entry Summary, check the
    Recoverable Scrap
     box.

Release Scrap with Scrap Quantity

The
Scrap Quantity
 field is utilized for scrapping partial quantities of a product.
For example, if you were approved to scrap a quantity of 5 for Product Number A and, before the approval was made, you added more scrap to your system for a total of 10; you could then use the
Scrap Quantity
 field to scrap a quantity of five (5) rather than release the full quantity of 10.
If the
Fill
 or
Fill All
 options are used, the
Scrap Quantity
 field can be used for a maximum value rather than a summation.
For example, if you used Fill All and only had three products in your scrap hold (Product A with a quantity of five (5), Product B with a quantity of five (5), and Product C with a quantity of 10) then you could enter a quantity of eight (8) in the
Scrap Quantity
 field to release the scrap. This would result in the full quantity of Products A and B being released (since eight (8) is greater than five (5)), and Product C should release a quantity of eight (8) out of the total of 10.
Activating the
Recoverable Scrap
 toggle will trigger two additional fields (
Scrap HTS
 and
New Unit Price
) to appear on the screen. These fields are optional but can be used to enter further information regarding the scrap. Enter all necessary information, click
Fill All > Release
.
Processed scrap transactions can be later reported on the Scrap Pro Forma report.

This article applies to:

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

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