The Importance of IOR and EOR services

As introduced on the last post, Importers and Exporters of Record are services established to provide a single organization to fulfill international trades’ requirements. IOR/EOR ensures faster, simpler and more reliable importing/exporting worldwide.

The company that provides Importer and Exporter of Record services can be the owner or the purchaser/seller of foreign merchandise. In the case of an IOR, it may also be a customs broker with a power of attorney (POA) to assume the activity of the importer.

What are IOR/EOR responsibilities?

In order to manage and supervise import and export operations, IOR/ EOR include some direct responsibilities as:

  • Classification and valuation of the merchandise before the import;
  • Overall review of the export processes;
  • Compliance of the destination/source country regulations;
  • Paying all the taxes upon an international trade;
  • Presenting the specific declarations to government agencies;
  • Prepared all the required documentation (certifications, permits and authorizations)

Why IOR/EOR services are so important?

To import and export any goods, it’s necessary to have an established business or a legal entity in the destination or source country. IOR/EOR can assume this role by taking the responsibility of import/export processes and all subsequent taxes until the delivery is fulfilled. They are officially recognized by the governments as part of a shipment transaction.

Importer and Exporter of Record ensure compliance with all necessary regulations and statutes to deal with a new country. These services also enable customers to export warranty or replacement stock to other countries. With an extensive freight network worldwide, GCE Logistics can easily provide all these IOR/EOR assignments.

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