Last year alone, 90% of the duty drawbacks that companies could have claimed went untouched and were lost. That number represents approximately $270 million each year.

Chances are, that you are not familiar with the benefits of Duty Drawbacks. Although Duty Drawbacks are not new, they are terribly underused. Your company will benefit in a significant way through their recovery.

What is a duty drawback?

Essentially it is a duty refund. Whenever your company or one of your vendors imports any product, or component of a product (ex. Packaging, parts, etc.) from a foreign country, you are charged a duty by our government. If you sell and export that same product as itself or as a component of another product, to a foreign country(ies), you are due back almost 99% of the duty that was paid by your company or by your vendor. The recovery of these duties can be SUBSTANTIAL!

This Audit will:

• Enable your company to be more competitive on price at home and overseas by increasing your profit margin on your products.
• Increase the profit margin you make on your products.
• Reduce the amount budgeted for annual/seasonal freight spend, freeing this money up for use elsewhere in your organization.
• Ease the strain on your cash flow and make it easier for you to operate and invest in an increasingly competitive global market.

Edison introduces the Duty Drawback Refund. This solution is part of a team of 6 performance-based cost audits that are available to you. Each of these audits helps to recover profit you have lost in the past due to overcharges and to increase the profit you earn going forward by reducing the amount you are charged.

This particular Audit and Review will:

• Track the duties paid by you or your vendors on the products or product components and get the amount refunded for you.
• Uncover corrected and less expensive duty classification rates for the products you import, regardless of quantities.
• Educate you on how duty classification and drawbacks work and empower your people to manage duty costs going forward.

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How much of my time will this process take?

Following is a table of the steps involved in the process, the amount of time you can expect to apply to the process and the duration of the process from start to finish.

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What is an outline of the process from start to finish?

Step 1.	Data Collection:: Before we have our first meeting, obtain a sampling of your import and export documents, Total Exported Sales Amount (by SKU # if known).
Step 2.	Initial Client Meeting:: Either in person or via web/teleconference, one of Edison's Cost Managers will meet with you to go over the details of the: Duty Drawback Review and any of the other audits we provide that interest you, the Process by which we are able to recover duty refunds to your company, and the Service Agreement itself. During this time, you will be able to ask as many questions as you would like, verify assumptions and expectations and get to know your Cost Manager.
Step 3.	Follow Up:: Your Cost Manager will follow up within a few days to detail you concerning any additional information that is needed to complete the review of your duty situation and the opportunity for refund.
Step 4.	Off Site Audit:: With the agreement in place and the information on your duties, the Edison Duty Drawback Specialist working on your account will begin the analysis of the data acquired concerning the duties paid on your products or components and the amounts of drawbacks that you qualify for.
Step 5.	Findings and Recommendation Report:: As soon as the study is completed, the Cost Manager will meet with you to report to you the findings of the study. They will answer your questions and educate you further about the process we will perform to get the designated amount refunded to you. As of this final meeting, implementation will begin.

This process takes between 4-6 weeks to complete. Time can vary.

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What does this service cost and when do I pay?

As with all 6 of the audits that Edison provides, the fee for your Duty Drawback Refund Audit is performance based. We do all the work and if we are successful in recovering savings, we ask you to split the amount recovered, with us. If the review and audit turns out clean, there is no fee whatsoever. This method of billing has a number of benefits for you.

• This ensures to you as the customer, that our fees will never outweigh the cash benefits and net profit increase that your company receives. As an additional assurance, the fee is only due after your refund or savings are safely in your pocket.
• This gives us incentive to perform on your behalf. It ties our compensation directly with our ability to be successful for you. We make sure to find all possible opportunities your company can implement.
• We risk our people's time upfront, because we are confident in the knowledge the team possesses and our ability to implement this knowledge for the benefit of your bottom-line.

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