Thomson Reuters announced on Monday the release of Checkpoint Global Harmonized Schedules (HS), a tool that aims to make the harmonized schedule classification process "simpler, faster, and more accurate," according to a press release.
The Thomson Reuters Checkpoint Global HS tool is a classification engine that contains harmonized schedule and duty rate information for 100 countries, also including create-a-chart functionality for easy country-to-country rate comparisons.
The HS tool also allows users to classify imported products using an intuitive search, which employs intelligent logic that recognizes eponymous trade names, chemical abstract service (CAS) numbers and common acronyms used in international trade.
“Managing global classification is a difficult task that is always subject to customs audits,” said Suzanne Offerman, senior product manager, international trade with the Tax & Accounting business of Thomson Reuters, in a statement. “Global HS helps international trade professionals save time they’d otherwise spend wading through long lists of irrelevant potential matches. The tool interprets goods descriptions expressed in everyday commercial language and delivers a single, correct HS code and duty rate.”
For more information about Global HS, head to Thomson Reuters' site here.