Core Insights - Flexport emphasizes the potential of technology to enhance duty drawback refunds, encouraging companies to reassess their claims management strategies [1][2] Group 1: Technology and Process Improvement - Flexport's technology aims to streamline the duty drawback process by automating application preparation, documentation collection, and establishing ongoing programs for up to five years of transactions [2][3] - The software optimizes across various provisions, addresses tariff complexities, and identifies errors in import and export data, significantly improving efficiency [3][6] - Flexport's "instant drawback" feature allows companies to receive 70% of their refunds within days, compared to the typical four to six weeks required by U.S. Customs [3] Group 2: Duty Drawback Program Overview - The duty drawback program, managed by U.S. Customs and Border Protection (CBP), enables importers and sometimes exporters to recover up to 99% of duties, taxes, and fees on imported goods that are later exported or destroyed [4][7] - This program is designed to alleviate tariff costs and promote U.S. exports, encompassing 27 categories of drawbacks [4] Group 3: Financial Impact and Industry Participation - Companies with substantial import/export activities can recover millions in refunds annually, with estimates of annual drawback refunds reaching approximately $1 billion, and some industry providers estimating recoveries nearing $4 billion [5] - Major logistics and trade firms, including Flexport, C.H. Robinson, UPS, and Expeditors, are recognized as key players in the duty drawback sector [5]