An area designated by the government to which goods may be imported for processing and subsequent export on duty-free basis. Merchandise may be stored, used or manufactured in the zone and reexported without duties being paid.
(Not to be confused with a free trade area or FTA.) A designated area within a country in which goods can be imported, stored, or processed without being subject to customs duties and taxes. Also known as a "foreign trade zone," a "free port," or a "bonded warehouse." See also transit lone and export processing lone."
An area within a country (a seaport, airport, warehouse or any designated area) regarded as being outside its customs territory. Importers may bring goods of foreign origin into such an area without paying customs duties and taxes, pending their eventual processing, transshipment or re-exportation. Free trade zones may also be known as “free ports”, “free warehouses”, and “foreign trade zones”.
A secure zone or area in a port or airport designated for duty-free entry of foreign goods or components. The goods may be stored, displayed or assembled into larger parts. Duty is paid when the finished product enters the U.S. market. If the goods are re-exported to another country, no duty is paid in the U.S. Also called a "Foreign Port" or "Foreign Trade Zone."
a designated area within a country where transnationals can open up factories without paying taxes to the government of their host country, the idea being that such bait will make a country a tempting place for investment
A port designated by the government of a country for duty-free entry of any nonprohibited goods. Merchandise may be stored, displayed, used for manufacturing, ect., within the zone and reexported without duties being paid. Duties are imposed on the merchandise (or items manufactured from the merchandise) only when the godos pass from the zone into an area of the country subject to the Customs Authority. Also known as Foreign Trade Zone.
A port designated by the government of a country for duty-free entry of any non-prohibited goods. Merchandise may be sorted, displayed, used for manufacturing, etc., within the zone and re-exported without duties being paid. Duties are imposed on the merchandise (or items manufactured from the merchandise) only when the goods pass from the zone into an area of the country subject to the Customs authority.
A free trade zone (FTZ) or Export processing zone (EPZ) is one or more areas of a country where tariffs and quotas are eliminated and bureaucratic requirements are lowered in order to attract companies by raising the incentives for doing business there. Free trade zones can be defined as labor intensive manufacturing centers that involve the import of raw materials or components and the export of factory products.
A special section of the New York State Insurance Law that exempts from rate regulation certain risks which develop property-liability policy premiums in excess of $100,000 annually, as well as certain other classes of unusual or exotic risks.