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Definitions from the Web

Term: Customs Drawback

Definition: Customs drawback refers to a refund or exemption of customs duties previously paid on imported goods that are subsequently exported or used in the manufacturing of exported products. It is a practice aimed at promoting trade and reducing the financial burden on exporters.

Example sentences:

1. The company applied for customs drawback on the imported raw materials used in the production of their export goods.
2. By utilizing customs drawback, the manufacturer was able to significantly reduce their production costs and remain competitive in the international market.
3. John was pleased to receive a customs drawback for the excess import duties he had paid when his goods were finally exported to a foreign country.

Related products on Amazon:

• Customs Drawback: A Guide for Importers and Exporters
• Exporting Made Easy: How to Get Started with International Trade
• Trade Compliance Tools: Simplify Your Customs and International Trade