Flexport emphasizes leveraging technology for larger duty drawback refunds, urging companies to rethink claim management. Through webinars, they outlined strategies for importers and exporters to optimize recoveries while ensuring compliance. Flexport’s software streamlines applications, collects documentation, and offers an “instant drawback” option for faster refunds.

Duty drawback programs allow importers to recover up to 99% of duties paid on imported goods that are later exported or destroyed in the U.S. It’s a refund program aimed at reducing tariff costs and promoting U.S. exports, with potential for significant refunds for companies with high import/export volumes.

Flexport, alongside industry players like C.H. Robinson and UPS, is a key player in the duty drawback space. Their technology, designed to overcome legacy software limitations, uses proprietary algorithms to analyze import/export data for maximum compliant matches. Results have shown up to four times better outcomes than competitors with the same claims.

Read more at Yahoo Finance: Flexport unveils tech-driven duty drawback strategy for bigger refunds