What is in bond assembly?
In-bond manufacturing (In-bond industry) – Another name for the maquiladora industry. A US or foreign-owned company may import “in-bond” (on a provisional, duty-free basis) the equipment, parts and raw materials required to support its manufacturing or assembly process.
What was maquiladora program originally?
Maquiladora in Mexico first operated under a specific government program known as the Maquila Program, created in 1965 to facilitate industrialization on the United States-Mexican border.
What are some examples of maquiladora?
Examples of Maquiladoras
- 3 Day Blinds.
- 20th Century Plastics.
- Acer Peripherals.
- Bali Company, Inc.
- Bayer Corp./Medsep.
- BMW.
- Canon Business Machines.
- Casio Manufacturing.
What is an in-bond code?
What does In-Bond shipment mean? An in-bond shipment is an imported or exported shipment that has yet to be cleared by Customs. The in-bond shipment process allows for the goods to be moved or stored by the government, even if they have not been obtained approval by Customs.
What is in-bond to Mexico?
An in-bond shipment is defined as cargo that is temporarily stored in a bonded warehouse or transported by a bonded carrier through the USA. In-bond shipment laws allow for cargo to be transported via air, sea, or land.
How much money does a maquiladora worker earn?
Despite working long hours doing many times strenuous and dangerous work, maquila workers earn only 50 cents to 1 dollar per hour. At this rate, a worker in a maquiladora working 8-10 hours would earn about $8 dollars for a day’s work.
What is a maquiladora plant?
Maquiladoras (also known as “twin plants”) are manufacturing plants in Mexico with the parent company’s administration facility in the United States. Maquiladoras allow companies to capitalize on the less expensive labor force in Mexico and also receive the benefits of doing business in the United States.