Does Importer of Record IOR Own the Shipping Goods? Temporary Owners? Permanent Owners?
For many people who are new to the realm of import/export, certain industry roles become quite confusing to understand. Who are consignee and who assumes the role of freight forwarder?—all such questions keep the new entrants guessing. Similarly, many people remain confused about the role of Importer of Record -IOR- services.
For instance, “does an Importer of Records owns the shipping goods?” is the most asked question. For that matter, we are going to clear this confusion here once and for all.
Importers of Record IOR Services Are the Temporary Owners
In most of the cases, especially when Importers of Records -IOR- act in the role of a third-party declarant, they become the temporary owners of the importing goods. From the country of origin to the landing birth of the importation country, IOR services assume the responsibility of the owner of the shipping goods.
They take care of their classifications, duties and final customs clearance before handing it over to the consignee, distributor or any other receiving party. It won’t be wrong to say that Importers of Records are actually the responsible temporary owners. A shipment can’t successfully scale the international waters without the liaison of a responsible Importer of Record -IOR- service.
Importers of Record IOR Can Be Permanent Owners Too
While Importers of Record -IOR- operate as the temporary owners at the time of the importation, they can be the permanent and end keeper of the shipping goods as well. This usually happens when private entities that are shipping goods want to deal with all the importation phases on their own. So, they also assume the role of an Importer of Record -IOR-. There are certain instances when that happens and Importers of Record (IOR) also become the real owners.
- When private importers also assume the role of a declarant
- When consignees take care of all the importation steps on own
Still confused regarding the ownership status of Importers of Record -IOR-? Just remember this: an Importer of Record (IOR) service that any person or entity uses for importation remains the temporary owner of the shipping goods until they have been picked by the assigned entity at the port of entry.
It is better if a private importer doesn’t assume the role of the Importer of Record -IOR– because there are many specialized things on has to take care of as the declarant. Instead, get the services of dedicated Importers of Records -IOR- services that take care of every step of import. where you can get your Quote.