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IPR Globalization Period

In the GTS IPR Authorisation, 3 periods may be specified:

Processing Period

The maximum time allowed between import of the components and export of the compensating product.

Settlement Period

How often reports (and payment, if relevant) must be submitted to the Customs Authority.

Globalization Period

??? i'd be grateful for an explanation of this; particularly what effect this setting has in the system ???

Thanks & regards,

Dave

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    Former Member
    Mar 08, 2011 at 08:15 AM

    Hello Dave,

    Globalization Period is a period within which you can import the goods without any processing. Lets say it is a buffer time within which you import the goods. It is count in months.

    For instance Globalization period 3 would mean you have 3 months to complete the imports before you start processing.

    Best regards,

    Gabriel.

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    • Former Member Dave Willis

      Hello David,

      You are right.

      To make a simple illustration and not complicate this further:

      Authorization setup :

      Globalization period : 3

      Processing period : 9.

      This means that you start eg in January 1st, with importing the components. All the stuff you import into IPR until the end of March are regarded as imported at that date ( end of March). Then 9 months of Processing period runs during which you process the goods and export them. Then, after these 9 months, at 1st of January next year you do the settlement run and pay the duties on the unprocessed components you imported.

      Best Regards,

      Branislav Petricek

      Edited by: Branko Petricek on Mar 24, 2011 3:44 PM