VASTERA LAUNCHES UPDATED DUTY MANAGER
Vastera Inc., a provider of trade management solutions, introduced on Tuesday its latest version of Duty Manager, a software enabling customers to benefit from trade programs.
The upgraded, standalone duty management solution defines the duty savings obtained by participating in preferential trade programs such as NAFTA, the Generalized System of Preferences, and the EU-Mexico Free Trade Agreement.
“Typically, most businesses claim only 50 percent to 60 percent of preference savings at the time that goods cross the border, which forces them to file, and then wait, for a refund on the remaining portion. The refund process can take as much as a year or more. Vastera’s managed service enable clients to claim preference savings at the border over 95 percent of the time,” a Vastera statement said.