Closures Management

Systematic Shipment Closure

Complete shipment lifecycle with thorough closure procedures ensuring all costs reconciled, documents archived, and compliance verified.

Closure Workflow

Pre-Closure Checklist Verify all requirements met:

• Cargo delivered
• Customs released
• Documents complete
• Costs reconciled
• Issues resolved
• Compliance verified

Closure Triggers Shipments ready for closure when:

• Delivery confirmed
• Payment cleared
• Documents finalized
• No open issues
• Retention period begins

Approval Process Review and authorization:

• Operations review
• Finance approval
• Compliance sign-off
• Management authorization
• System closure

Cost Reconciliation

Cost Collection Gather all shipment costs:

• Freight charges
• Customs duties
• Broker fees
• Warehouse fees
• Handling charges
• Accessorial fees
• Penalty costs

Invoice Matching Match costs to invoices:

• Carrier invoices
• Broker invoices
• Warehouse invoices
• Service provider bills
• Government charges

Variance Analysis Identify and resolve differences:

• Estimated vs actual
• Budget vs actual
• Invoice discrepancies
• Unauthorized charges
• Missing invoices

Payment Verification Confirm all payments:

• Invoices paid
• Duties cleared
• Fees settled
• Refunds processed
• Credits applied

Document Verification

Completeness Check Ensure all documents present:

• Commercial invoice
• Packing list
• Bill of lading
• Customs entry
• Payment receipts
• Certificates
• Permits/licenses
• Delivery proof

Document Quality Verify document integrity:

• Signed originals
• Legible copies
• Proper formatting
• Complete information
• Authentic seals/stamps

Compliance Documentation Confirm compliance records:

• Screening results
• Classification support
• Valuation documentation
• Origin certificates
• Binding rulings
• Audit trail

Mexican Closure

Pedimento Archive Complete pedimento record:

• Filed pedimento
• COVE validation
• Payment receipts
• Supporting documents
• Amendment history

IMMEX Reconciliation Close temporary import records:

• Virtual pedimento
• Inventory balance
• Program compliance
• Return evidence (if applicable)

SAT Requirements Ensure tax compliance:

• CFDI archived
• Payment confirmed
• Record retention
• Audit readiness

Archive Management

Document Organization Structured archival:

• Folder structure
• Naming conventions
• Index creation
• Metadata tagging
• Cross-referencing

Electronic Storage Digital archive features:

• Cloud storage
• Encryption
• Version control
• Access controls
• Backup procedures

Physical Storage Original document handling:

• Secure storage
• Climate control
• Indexing system
• Retrieval procedures
• Destruction schedules

Retention Policy Manage retention periods:

• Regulatory requirements
• Company policies
• Legal holds
• Statute of limitations
• Destruction timelines

Compliance Verification

Final Review Comprehensive compliance check:

• All regulations followed
• Required documents present
• Classifications correct
• Values accurate
• Licenses valid
• Duties paid correctly

Audit Readiness Prepare for potential audits:

• Complete documentation
• Clear audit trail
• Decision rationale
• Expert opinions
• Supporting evidence

Risk Assessment Evaluate shipment risk:

• Compliance concerns
• Documentation gaps
• Cost anomalies
• Performance issues
• Future considerations

Performance Metrics

Timeline Metrics Calculate actual performance:

• Total transit time
• Customs clearance time
• Delivery time
• Issue resolution time
• Closure time

Cost Metrics Analyze financial performance:

• Total landed cost
• Cost per unit
• Cost variance
• Duty rate achieved
• Savings realized

Quality Metrics Assess execution quality:

• First-time clearance
• Error rate
• Amendment count
• Exam frequency
• Issue count

Compliance Metrics Track compliance performance:

• Regulatory adherence
• Documentation completeness
• Classification accuracy
• Valuation compliance
• Screening results

Stakeholder Notification

Completion Notices Inform relevant parties:

• Consignee
• Supplier
• Finance team
• Management
• Service providers

Performance Reports Share results:

• Cost summary
• Timeline performance
• Quality metrics
• Issues resolved
• Lessons learned

Archive Confirmation Document archival notification:

• Archive location
• Retention period
• Access procedures
• Retrieval process

Closure Analytics

Shipment Analysis Comprehensive shipment review:

• Performance against SLAs
• Cost vs budget
• Timeline analysis
• Issue resolution
• Provider performance

Lessons Learned Capture insights for improvement:

• What went well
• What didn’t
• Root causes
• Best practices
• Recommendations

Benchmarking Compare to standards:

• Historical performance
• Peer comparison
• Industry benchmarks
• Target metrics

Post-Closure Activities

Final Billing Complete financial close:

• Final invoices
• Client billing
• Accruals
• Revenue recognition
• Profit calculation

Performance Scoring Rate shipment execution:

• Overall score
• Category scores
• Provider ratings
• Improvement areas

Continuous Improvement Feed learnings back:

• Process updates
• System enhancements
• Training needs
• Policy changes
• Provider feedback

Integration

• ERP financial close
• Document management systems
• Archive systems
• Analytics platforms
• Compliance systems
• Audit tools

Workflow Automation

• Closure eligibility checks
• Automatic document gathering
• Cost reconciliation matching
• Approval routing
• Archive execution
• Notification distribution

Specialized Closures

Temporary Import Closure Additional requirements for:

• Return verification
• Bond release
• Duty refund
• Program compliance

IMMEX Closure Maquiladora specific:

• Virtual pedimento balance
• Inventory reconciliation
• Annual report data
• Program maintenance

Duty Drawback Closure Prepare for drawback:

• Export linkage
• Manufacture linkage
• Claim documentation
• Refund tracking

Audit Protection Closure Enhanced documentation for:

• High-risk shipments
• New products
• New suppliers
• Unusual circumstances
• Complex transactions