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Did you know that 70% of U.S. duty drawback refunds remain unclaimed & are ultimately lost?

If your company exports goods, you could recover thousands of dollars a year with the help of a qualified duty drawback specialist at Comstock and Holt. As two of the oldest duty drawback specialist organizations in the country, Comstock & Theakston, Inc. (Comstock) and C.J. Holt & Co., Inc. (Holt) combine to provide a comprehensive and universal approach across multiple industries delivering a higher standard of customer service to navigate the intricacies of the drawback process. We are the only U.S. drawback specialist with 13 licensed Customs Brokers and can provide you with the assistance necessary to attain the largest potential duty drawback refund possible through customized and innovative solutions.

What is Duty Drawback?

Duty drawback is the refund of duties, taxes, and fees paid on imported merchandise that is exported or used in the manufacturing of exported merchandise. The establishment of the U.S. duty drawback program and the legislative policy underlying the program is to ensure the competitiveness of U.S. industry in the global market when competing against lower-priced products from our trading partners.

In most situations, U.S. Customs will refund up to 99% of the original duties and fees paid by the importer and will allow the claimant to reach back and claim drawback on export transactions that are a maximum of three years old. You need not be the importer or even the exporter in order to receive a duty drawback refund. Rights to drawback dollars can be assigned to or from importers, exporters, or other parties in the supply chain.

The drawback process is not simple, but that’s where we come in! As your drawback specialist, we will work with you to identify your potential and the drawback types you can pursue, create a customized drawback program, and communicate with U.S. Customs regarding your claims.

Learn More About Duty Drawback

Are You Eligible for Duty Drawback?

The drawback program was initiated for the purpose of creating jobs, encouraging manufacturing, and increasing exports. The Continental Congress first established drawback in 1789, and it was initially limited to specific articles that were directly imported and exported. Since that time, drawback has been expanded to include numerous products and industries, including:

  • Agricultural products
  • Alcohol and beverages
  • Automotive
  • Consumer goods
  • Industrial chemicals
  • Metals and alloys
  • Petroleum and derivatives
  • Petrochemicals
  • Pharmaceuticals and medical equipment
  • Piece goods/fabrics
  • Wearing apparel

Although there are several types of duty drawback available, the programs most commonly utilized by the importing and exporting trade community are unused merchandise, manufacturing, and rejected merchandise.

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Upcoming Duty Drawback Seminars

Drawback 101

September 28 @ 9:00 am - 2:00 pm

Drawback Compliance & Audit Readiness

October 19 @ 9:00 am - 1:00 pm

Preparing for a Drawback Audit Webinar

November 8 @ 1:00 pm - 2:30 pm

Ready to see how we can help maximize your duty drawback potential? Get started now.

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FEATURED POST

HTSUS Chapter 9801 and Duty Drawback

As many of you know, the drawback community has been celebrating the passing of the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA), which was signed into law on February 24, 2016 by President Obama. This new legislation will simplify drawback and open up some new and exciting possibilities for the expansion of your drawback program when it goes into effect in 2018.

READ MORE >

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