QAD Precision releases Free Trade Agreement calculator
May 01, 2020
New Delhi [India], May 1 (ANI/NewsVoir): QAD Precision, an industry-leading provider of global trade management and transportation execution software, has announced the release of a Free Trade Agreement (FTA) calculator that allows companies to estimate potential savings by leveraging FTAs. QAD Precision is a division of QAD Inc. (NASDAQ: QADA) (NASDAQ: QADB).
The FTA calculator currently covers goods manufactured in 126 countries and imported into Canada, Mexico, the U.S. and all European Union member countries. QAD Precision will be adding more destination countries soon.
"The vast majority of companies do not leverage all the FTAs available to them, despite the obvious competitive advantage of having preferential status," said Corey Rhodes, President of QAD Precision. "Done manually, FTA compliance is complicated and time-consuming. Our FTA calculator gives companies an easy way to see what duty savings are potentially available, and whether or not they should consider implementing free trade agreement software."
QAD Precision has identified, for the selected import country, the trading countries that provide duty-free access for goods that qualify under FTA preferential treatment. The FTA calculator uses commodity codes, along with price and quantity, to determine potential savings related to the individual import duties usually paid. Companies that want to determine potential FTA savings will need to know the commodity codes of the goods they want to check. The FTA calculator can be found here and is offered without obligation.
QAD Precision also provides Free Trade Agreement (FTA) software. The solution enables companies to determine FTA origin in real-time. QAD Precision FTA complies with the preferential rules regarding FTA origin determination as it relates to all free trade agreements recognized by the World Trade Organization.
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