Latest news with #NationalPermit
Yahoo
28-05-2025
- Business
- Yahoo
Passport Global Secures U.S. Customs License, Expands Brokerage Across All U.S. Ports
PALO ALTO, Calif., May 28, 2025 /PRNewswire/ -- Passport Global, Inc. (Passport), a leading global ecommerce solutions provider, today announced it has been officially granted a U.S. Customs and Border Protection (CBP) Corporate Customs License and National Permit. This milestone positions Passport among a select group of providers authorized to act as permitted licensed customs brokers across all U.S. ports of entry—enabling the company to conduct customs business on behalf of ecommerce merchants and unlock a new era of regulatory control, cost recovery, and trade compliance. "With the rise of cross-border ecommerce, brands are navigating increasingly complex customs environments—and too often doing it without a safety net or guide," said Alex Yancher, Co-Founder and CEO of Passport. "Becoming a licensed customs broker strengthens our ability to protect our customers, proactively manage their risk, and ensure they stay compliant every step of the way." Expanded Authority, Streamlined Compliance With this license, Passport can now file customs entries, represent importers, facilitate duty drawback, and offer critical compliance advisory services. These are activities restricted to licensed brokerage organizations under federal law (19 CFR 111.1), and include: File formal and informal customs entries directly into ACE Represent importers of record (IOR) and manage Post Summary Corrections Submit duty drawback claims for goods exported in the same condition Facilitate bonded shipments to bypass U.S. duty for in-transit cargo These services add to the solutions that Passport's Global Trade team of Licensed Customs Brokers has already been offering, including: Product classification consulting under the Harmonized Tariff Schedule (HTSUS) Customs valuation strategies, including transaction value, the first-sale rule, and intercompany pricing models Origin declaration guidance for USMCA and other trade preference programs Support for Partner Government Agency (PGA) requirements such as FDA, CPSC, and EPA Interpretation of CBP rulings, enforcement trends, and notices of action These capabilities come at a critical moment for ecommerce brands. Under Trump administration trade policies, including ongoing de minimis reform and new Section 301 tariffs, international merchants face increased cost exposure and compliance risk. Passport is doubling down on its role as a trusted compliance partner—building on the recent announcement of its patent-pending Seller of Record model and daily tariff coverage at "Securing this license is a significant milestone for Passport," said Traci Fisher, LCB, CCS, and License & Permit Qualifier at Passport. "It reinforces our commitment to delivering trusted, end-to-end customs solutions while ensuring compliance with U.S. regulations at every port of entry. Our clients can now rely on us to streamline their import processes, reduce risk, and navigate trade changes with confidence." Duty Drawback Facilitation and Recovery Many ecommerce brands importing goods into the U.S. and subsequently exporting them—as returns, replacements, or global shipments—are eligible to reclaim up to 99% of duties, taxes, and fees. As a licensed customs broker, Passport can now work directly with CBP to manage the end-to-end drawback process, including: Eligibility screening and drawback program setup Application filing for drawback privileges Data reconciliation and CBP-approved claim preparation Advisory support to optimize drawback strategies in high-duty categories such as apparel, supplements, and footwear "With margins tightening and tariff volatility increasing, duty recovery is no longer optional—it's a competitive edge" said Thomas Taggart, VP of Global Trade at Passport. "Our Global Trade team will help ecommerce brands recapture millions in paid duties through a turnkey, fully compliant drawback process." Real-World Impact for Ecommerce Brands For growing DTC brands, Passport's broker license unlocks faster clearance, fewer surprise fees, and expanded margin protection through duty recovery and bonded shipping options. "Unless you want to hire an international logistics and operations team, which is a huge financial investment and time commitment, Passport has proven to be the most effective as far as getting our products to customers and supporting, acting as an extension of our company and enabling our growth," said Max Christman, Supply Chain & Operations Lead at OneSkin. Whether acting as importer of record or providing product classification consulting, Passport's license adds a powerful new layer of control to its cross-border infrastructure. The company is on a mission to make international shipping as seamless and compliant as domestic fulfillment. Combined with its global DTC logistics network, marketplace integrations, and in-country enablement solutions, Passport delivers the end-to-end support and unmatched regulatory depth to merchants worldwide. About Passport Founded in 2017, Passport is a global ecommerce solutions provider that empowers merchants—like Dolls Kill, Ridge, Ogee, OneSkin, and HexClad—to grow profitably and confidently in over 180 countries. Combining innovative technology, global logistics, and expert compliance and growth support, Passport delivers the right solutions for the right markets at every stage of global growth. With in-house licensed customs brokers and international trade specialists, Passport offers a seamless, flexible experience—from cross-border logistics and in-country enablement services to duty and tax compliance—to help D2C brands unlock their full global potential. Users can learn more at ContactSr. Director & Head of MarketingCasey Logo: View original content to download multimedia: SOURCE Passport Global, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
06-05-2025
- Business
- Business Standard
Iware Supplychain lists at 10% discount on NSE SME, misses GMP estimates
Iware Supplychain IPO listing today: Shares of integrated logistics company Iware Supplychain Services made a muted debut on the NSE SME platform on May 6. Iware Supplychain shares listed at ₹85.05 per share on the NSE, reflecting a discount of ₹9.95 per share or 10 per cent against the issue price of ₹95 per share. Iware Supplychain listing was below the grey market expectations. Ahead of the listing, the unlisted shares of Iware Supplychain were trading at ₹97 per share, commanding a grey market premium (GMP) of ₹2 or 2.11 per cent over the issue price, according to sources tracking unofficial market activity. Iware Supplychain IPO details The ₹27.13 crore SME IPO comprises an entirely fresh issue of 2.85 million shares. There is no offer for sale (OFS) component. The public issue opened for subscription on Monday, April 28, 2025, and ended on Wednesday, April 30, 2025. The basis of allotment of shares was finalised on Friday, May 2, 2025. The issue received a decent response from investors, getting oversubscribed by 2.96 times. The retail investors portion was oversubscribed by 3.28 times, followed by non-institutional investors (NIIs) at 2.65 times. Kfin Technologies is the registrar of the issue. GetFive Advisors is the sole book-running lead manager. According to the red herring prospectus (RHP), the company aims to utilise ₹14.06 crore from the net issue proceeds for setting up an industrial shed at Chadvada Bhachau, Kutch, Gujarat and ₹6.80 crore to meet working capital requirements. The remaining funds will be used for general corporate purposes. About Iware Supplychain Services Incorporated in 2018, Iware Supplychain Services offers pan-India logistics services including warehousing, transportation, rake handling services, business auxiliary services and rental income. The company operates through its various offices located in the states of Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana and Delhi. It owns a fleet of 47 vehicles, each with a National Permit. It serves clients across industries including FMCG, auto components, sanitary ware etc. In the fiscal year 2024-25 (FY25), Iware Supplychain Services' revenue from operations grew 46 per cent year-on-year (Y-o-Y) to ₹85.82 crore from ₹58.7 crore in FY24. It reported a profit after tax (PAT) of ₹8.01 crore in FY25, up 92 per cent from ₹4.16 crore in the previous fiscal.
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Business Standard
30-04-2025
- Business
- Business Standard
Iware Supplychain IPO Day 3 update; check subscription, GMP, key dates
Iware Supplychain IPO day 3 update: The initial public offering (IPO) of Iware Supplychain Services which opened for subscription on Monday, April 28, 2025, has received a muted response from investors as it failed to reach the 100 per cent subscription mark on day 2 as well. As of 10:08 AM on Wednesday, day 3 of subscription, the has been subscribed 96 per cent, according to data from the NSE SME platform. The three-day subscription window for the SME IPO will close today, April 30. The quota booked for retail investors was subscribed 1.25 times The portion reserved for non-institutional investors (NII) was booked 0.65 times. Iware Supplychain IPO GMP The unlisted shares of Iware Supplychain Services were trading flat at ₹95, the issue price, in the grey market on day 3 of subscription, according to sources tracking unofficial markets. Iware Supplychain IPO details Iware Supplychain Services IPO is a fresh issue of 2.85 million equity shares to raise ₹27.13 crore. There is no offer-for-sale (OFS) component. According to the red herring prospectus (RHP), the basis of the allotment of shares is likely to be finalised on or before Friday, May 2, 2025. Shares of Iware Supplychain Services are scheduled to be listed on the NSE SME platform tentatively on Tuesday, May 6, 2025. The company has fixed the price at ₹95 per equity share. Retail investors require a minimum investment amount of ₹1,14,000 to subscribe for a minimum one lot comprising 1,200 shares. High-net-worth individuals (HNIs) can bid for a minimum of two lots consisting of 2,400 shares with a minimum investment amount of ₹2,28,000. KFin Technologies is the registrar of the issue while Getfive Advisors is the sole book-running lead manager for the issue. From the net fresh issue proceeds, the company aims to utilise ₹14.06 crore for setting up an industrial shed at Chadvada Bhachau, Kutch, Gujarat and ₹6.80 crore to meet working capital requirements. The remaining funds will be used for general corporate purposes, as per the RHP. About Iware Supplychain Services Incorporated in 2018, Iware Supplychain Services is a pan-India logistics services provider. It mainly operates in five different types of services including warehousing and carrying & forwarding, transportation, rake handling services, business auxiliary services and rental income. It has various business offices situated in the states of Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana and Delhi. The company operates a fleet of 47 vehicles, each with a National Permit, enabling unrestricted movement across different regions of India.
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Business Standard
29-04-2025
- Business
- Business Standard
Iware Supplychain IPO Day 2 update; check subscription, GMP, listing date
Iware Supplychain IPO day 2 updates: The initial public offering (IPO) of Iware Supplychain Services which opened for subscription on Monday, April 28, 2025, has received a muted response from investors so far. The issue was subscribed only 0.54 times, as of 11:44 AM on Tuesday, day 2 of the offering, according to data from the NSE SME platform. The portion reserved for retail investors was subscribed 0.82 times The quota reserved for qualified institutional buyers (QIBs) and non-institutional investors (NII) was booked 0.2 times. Iware Supplychain IPO details The company plans to raise ₹27.13 crore through a fresh issue of 2.85 million equity shares. There is no offer-for-sale (OFS) component. The SME IPO will close for subscription on Wednesday, April 30, 2025. The basis of the allotment of shares is expected to be finalised on or before Friday, May 2, 2025. Shares of Iware Supplychain Services are scheduled to be listed on the NSE SME platform tentatively on Tuesday, May 6, 2025. The company has set the price the price at ₹95 per equity share. Retail investors can bid for a minimum of one lot consisting of 1,200 shares with an investment amount of ₹1,14,000. The minimum investment required for high-net-worth individuals (HNIs) is ₹2,28,000 for two lots of 2,400 equity shares. ALSO READ | KFin Technologies is the registrar of the issue. Getfive Advisors is the sole book-running lead manager for the issue. According to the red herring prospectus (RHP), the company plans to use ₹14.06 crore from the net issue proceeds for setting up an industrial shed at Chadvada Bhachau, Kutch, Gujarat and ₹6.80 crore to meet working capital requirements. The remaining funds will be used for general corporate purposes. Iware Supplychain IPO GMP On day 2 of the subscription, the unlisted shares of Iware Supplychain Services were trading flat at ₹95, the upper price band, according to sources tracking unofficial market activities. ALSO READ | About Iware Supplychain Services Iware Supplychain Services, incorporated in 2018, offers pan-India logistics services including warehousing, transportation, rake handling services, business auxiliary services and rental income. The company's offices are situated in the states of Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana and Delhi. It operates a fleet of 47 vehicles, each with a National Permit. It handles clients across industries including FMCG, auto components, sanitary ware etc.
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Business Standard
28-04-2025
- Business
- Business Standard
Iware Supplychain Services IPO opens today; check GMP, lot size, key dates
The initial public offering (IPO) of integrated logistics company Iware Supplychain Services opens for subscription today, April 28, 2025. The Gujarat-based company aims to raise ₹27.13 crore through a fresh issue of 2.85 million equity shares. The company has reserved around 50 per cent of the issue for retail investors and the remaining 50 per cent for qualified institutional buyers (QIBs) and non-institutional investors (NIIs). Iware Supplychain Services IPO price band, lot size The company has fixed the price at ₹95 per share, with a face value of ₹10 per share. The minimum lot size for an application is 1,200 shares. A retail investor would require a minimum investment amount of ₹1,14,000 to bid for one lot. The minimum investment required for high-net-worth individuals (HNIs) is ₹2,28,000 for two lots. Iware Supplychain Services IPO key dates The three-day subscription window will tentatively close on Wednesday, April 30, 2025. The basis of allotment will be finalised on Friday, May 2, 2025, according to the red herring prospectus (RHP). Shares of Iware Supplychain are likely to be listed on the NSE Emerge, SME platform of NSE, on Tuesday, May 6, 2025, Iware Supplychain Services IPO registrar lead manager Iware Supplychain Services IPO GMP Ahead of the opening, the unlisted shares of Iware Supplychain Services were trading flat at ₹95 each, which is also the IPO price, according to sources tracking unofficial market activities. Also Read Iware Supplychain Services IPO objective From the net proceeds, the company aims to utilise ₹14.06 crore for setting up an industrial shed at Chadvada Bhachau, Kutch, Gujarat and ₹6.80 crore to meet working capital requirements. The remaining funds will be used for general corporate purposes. About Iware Supplychain Services Incorporated in 2018, Iware Supplychain Services is an integrated pan-India logistics company primarily operating in five different types of services including warehousing, transportation, rake handling services, business auxiliary services and rental income. The company operates through various business offices situated in the states of Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana and Delhi. The company owns a fleet of 47 vehicles, each with a National Permit. It operates with clients across industries like FMCG, auto components, sanitary ware etc. ALSO READ | Iware Supplychain Services financial overview In the fiscal year 2024-25 (FY25), Iware Supplychain Services' revenue from operations grew 46 per cent year-on-year (Y-o-Y) to ₹85.82 crore from ₹58.7 crore in FY24. It reported a profit after tax (PAT) of ₹8.01 crore in FY25, up 92 per cent from ₹4.16 crore in the previous fiscal.
