JPMorgan Chase Vastera, a leading provider of global trade management solutions, has announced that Delta Faucet Company, the largest US manufacturer of residential and commercial taps (faucets), has outsourced to JPMorgan Chase Vastera a portion of its global trade operations.

Delta Faucet has hired JPMorgan Chase Vastera for the ongoing management of its Nafta duty minimisation and Harmonised Trade Schedule (HTS) classification programmes.

Delta Faucet operates manufacturing plants in Ontario, Canada, as well as two locations in the US. As a participant in Nafta, the company has the opportunity to maximise cost savings on North American manufactured parts shipped between the US and Canada.

JPMorgan Vastera trade experts are managing the classification or assignment of HTS codes to the thousands of different parts used by Delta Faucet to manufacture faucets and other kitchen and bath products.
Accurate HTS code assignment is critical as it determines how a product is taxed when shipped across borders.

JPMorgan Vastera will also operate a Nafta programme for the company which includes soliciting parts sourced in the Nafta region and applying the complex rules of origin in order to certify products manufactured by Delta Faucet Company.

“Participation in preferential trade programmes like Nafta is a labour-intensive effort,” says Bernie Hart, global product head, JPMorgan Chase Vastera. “Outsourcing this function enables Delta Faucet Company to put more focus on its core business of designing and producing faucets. The trade experts and technology from JPMorgan Vastera are being leveraged to minimise duty payments, get goods across border more efficiently, and provide a comprehensive audit trail for customs.”