Importer Of Record – IOR Services

• ensuring the imported goods comply with local laws and regulations
• filing a complete duty entry and all relevant paperwork.
• paying the assessed import duties and other taxation related to the entry of goods.

Import regulations vary between countries. The definition of Importer of Record IOR can thus be found in the customs code of the client’s country. Importing goods carries many legal obligations concerning duties, country of origin, and other regulatory matters typically enforced by the customs authorities of a given country. An importer may need to obtain a license to import and register an importer number with the customs authorities. Customs authorities also require a bond in their favor to allow imports. The importer of Record service provider, or the IOR will be liable for all customs-related requirements of the import transaction.

Having a physical presence is a pre-requisite to importing products to any serviced country. GCE offers competitively priced solutions to companies that are not physically present in the receiving country. As it is certified to do so, GCE can act as an Importer of Record or Exporter of Record.

Global procurement of tangible items is a demanding endeavor, particularly when the client seeks to import goods into a country where they have no physical presence. Therefore, experts advise upcoming firms to hire an experienced Importer of Record IOR and Exporter of Record (EOR) to handle this on their behalf.

There are uncontested benefits to hiring an Importer of Record service provider IOR to import a consignment into any foreign country. To list a few:

• Hiring an Importer of Record IOR removes the need to obtain legal identity in the country of importation: importer laws can be rigid, making compliance difficult, costly, and time-consuming. A large amount of paperwork and inter-departmental red-tapping is part of the process that allows an entity to obtain a permit to import its goods into another country. If the client is an individual importer who is dealing with a one-time consignment, then it is very impractical to get into the long-drawn-out process of obtaining a license in the importation country. Hiring an expert Importer of Record IOR service provider can assist you in importing goods to far-off destination ports. The Importer of Record IOR will act on your behalf and ensure compliance with all legal formalities in the destination country.

• Importer of Record service providers IORs are experts in local customs laws: Understanding customs laws and regulatory frameworks requires seasoned professionals who possess adequate contextual understanding. Hiring an Importer of Record IOR will spare you the trouble of having to understand customs laws and disentangle the complex webs of bureaucracy.

• Importer of Record service providers IORs ensure the timely delivery of consignments: Individuals importing consignments on their own often get stuck at the customs checkpoint. This is where experience and knowledge of the ‘fine print’ of the laws come in handy. Experiences Importer of Record IOR service providers know how to circumvent bureaucratic barriers and deliver shipments on time.

A global Importer of Record service provider IOR can help clients save time and effort. Global Importer of Record service provider IOR sport vast importation networks spread across the world. They possess importing licenses as appropriate in various destinations hence they can ensure compliance with regulations to obtain clearance from the customs authorities of a given country.

Global IORs provide global, hands-on support across the world. They perform task that include:

• Commission Customs Brokers:
countries have varying customs laws and regulations that importers should comply with to obtain clearance. Global IORs commission dedicated customs brokers at importation destinations to oversee the clearance. In countries, where there are no established customs brokerage entities, IOR provisionally arranges them for any shipment they undertake.

• Manage/handle/ensure compliance with International Commercial Terms (INCOTERMS):
INCOTERMS are a series of pre-defined commercial terms published by the International Chamber of Commerce relating to international commercial law. Some duties and taxes are charged under INCOTERMS. Only an experienced IOR can pre-emptively determine these costs and facilitate the transaction globally.

• Ensure compliance with local laws and regulations:
as countries have varying laws and entities charged with overseeing customs affairs, Global IORs possess the awareness and expertise required to handle all domestic laws and regulations to process the shipment transaction.