Glossary
Drawback
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A refund of duties or taxes paid on imported goods that are later re-exported.
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What does Drawback mean?
In the shipping context, drawback refers to a refund of duties or taxes paid on imported goods that are subsequently exported. Drawback programs are designed to promote exports and reduce the cost of importing raw materials and components. To be eligible for drawback, the exported goods must be similar to the imported goods and must be exported within a certain time period.
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