Ach & Pms Automated Clearing House Periodic Monthly Statement

ACH & PMS AUTOMATED CLEARING HOUSE PERIODIC MONTHLY STATEMENT www.scarbrough-intl.com

WHAT IS ACH? Automated Clearing House Instead of writing a check to U.S. Customs, ACH allows payment directly from a bank account Quicker, more seamless process A “Statement” is the means for triggering ACH payment – – – A “Statement” is provided to the Importer by U.S. Customs It shows a list of entries released on the same date It includes the duties and fees owed to CBP www.scarbrough-intl.com

WHY IS ACH IMPORTANT? Importers should sign up for their own ACH – They will benefit! No more checks. Auto pay debit or credit with CBP (we suggest debit, so CBP does all the work when it comes to collecting payment) Instant “credit terms” with CBP (plus the option of Periodic Monthly Statement – PMS) Section 232/Section 301 – increased duties greatly. ACH can help with importer’s cash flow. Applying for ACH may create the opportunity to receive better credit terms with Scarbrough www.scarbrough-intl.com

WHO SHOULD APPLY? These importers should apply: – High duty – Moderate to High Volume – An importer that doesn’t have Scarbrough credit, but wants credit www.scarbrough-intl.com

HOW TO APPLY Form 400 ACH Debit Application www.scarbrough-intl.com

HOW TO APPLY Contact ach@Scarbrough-intl.com 1. Scarbrough ACH team will provide the U.S. Customs Form 400 2. ACH team will fill out as much as they can for the importer 3. Scarbrough ACH Team will send U.S. Customs Form 400 to importer for final completion 4. Importer returns completed U.S. Customs Form 400 to ach@Scarbroughintl.com 5. ACH team will send application to U.S. Customs www.scarbrough-intl.com

NEXT STEPS When U.S. Customs assigns a Payor Unit Number, this information is sent back to the email address that is listed on the application. Importer needs to forward this information to Scarbrough ACH Team Our ACH Team needs the Payor Unit Number to complete the process ACH team will make adjustments to our system and the importer can now pay CBP via ACH Next Question: Do you as an importer want Periodic Monthly Statement (PMS)? www.scarbrough-intl.com

PERIODIC MONTHLY STATEMENT (PMS) Periodic Monthly Statement provides the ability to make periodic duty payments on an interest-free monthly basis PMS is still based off of release date Importer will continue to receive the daily statements as in ACH, however they do not need to pay until monthly statements are processed Prelim statement prints on the 11th workday of the following month and Final prints on the 15th workday – For example: Shipments that release in May 2019, will be paid on June 2019 PMS statement www.scarbrough-intl.com

BENEFITS OF PMS Depending when the shipment releases, credit terms can be up to 6 weeks* PMS consolidates all duty payments for the month into one statement (vs. ACH where the payment is pulled from account each time) Payment to CBP is due the following month vs. same month as shipment release If client has ACH and PMS, it may create the opportunity to receive better credit terms with Scarbrough Scarbrough does the heavy lifting for you. We will fill out majority of the application for you and submit it to US Customs. www.scarbrough-intl.com

WHAT DO YOU MEAN UP TO 6 WEEKS? Paying U.S. Customs via PMS allows importers to extend payment terms of duty up to 6 weeks, dependent upon release date. – – – – If shipment releases May 6, 2019, it will print on preliminary PMS statement on June 16th Final PMS statement prints on June 21st 45 calendar days Non PMS statement, payment date would be May 17th If a shipment released on May 30, however, the prelim PMS statement would still print on June 16 and final payment on June 21. The PMS comes out the month following release on the same date regardless when the released occurred. www.scarbrough-intl.com

PERIODIC MONTHLY STATEMENT (PMS) Customs establishes PMS dates at the beginning of each year Periodic Monthly Statement Dates for 2019 Month Preliminary Statements 11th Workday Final Statements 15th Workday Estimated Withdrawal Date January 1/16/2019 1/23/2019 1/25/2019 February 2/15/2019 2/22/2019 2/26/2019 March 3/15/2019 3/21/2019 3/25/2019 April 4/15/2019 4/19/2019 4/23/2019 May 5/15/2019 5/21/2019 5/23/2019 June 6/17/2019 6/21/2019 6/25/2019 July 7/16/2019 7/22/2019 7/24/2019 August 8/15/2019 8/21/2019 8/23/2019 September 9/17/2019 9/23/2019 9/25/2019 October 10/16/2019 10/22/2019 10/24/2019 November 11/18/2019 11/22/2019 11/26/2019 December 12/16/2019 12/20/2019 12/24/2019 www.scarbrough-intl.com

PERIODIC MONTHLY STATEMENT (PMS) Tell us you are interested by emailing ACH@Scarbrough-intl.com www.scarbrough-intl.com

ach@Scarbrough-intl.com 1. Scarbrough ACH team will provide the U.S. Customs Form 400 2. ACH team will fill out as much as they can for the importer 3. Scarbrough ACH Team will send U.S. Customs Form 400 to importer for final completion 4. Importer returns completed U.S. Customs Form 400 to ach@Scarbrough-intl.com 5.