Imports and exports involve a lot of paperwork. Moreover, the involvement of different government agencies particularly in the importation sometimes make it quite challenging for anyone to ship anything into any particular country. However, IOR services are there to help all those shippers to help with their importing goods. Any experienced Importer of Record (IOR) ensures that it fulfills all the customs responsibilities to avoid unnecessary examinations, which eventually streamlines the overall shipping process.
Let’s look at the responsibilities that any IOR service has to fulfill in connection with general customs requirements.
Classification of Shipping Goods for Importer of Record (IOR)
This is the first responsibility of any Importer of Record (IOR) service. They have to get the classification of the importing goods right. The goods are usually classified through an international Harmonized Schedule (HS) code system of six digits. The HS codes are then extended further depending on the importation country.
These codes are like the SSN of the shipping goods. They determine the rate of duties and all the other import regulations.
Declaration of Shipment Value for Importer of Record (IOR)
It is also the responsibility of an Importer of Record (IOR) to declare exact shipment value. The value of any shipment is usually determined through the prices quoted on their commercial invoice. The listed prices and expenses (product work cost, licensing fees, post-import transport, etc.) are sometimes also included in the overall shipment value.
Important Note:
If you want to act as a declarant (Importer of Record) on your own, then keep in mind that undervaluing the shipment is not just unethical but you will eventually get caught. Besides facing potential penalties from the customs authorities, the additional costs of examination and storage will drastically increase the cost of your overall shipment.
Ensuring No IP Infringements Are Happening
IOR services that handle shipments heavy on intellectual property (literary, scientific, and artistic), signs, trademarks, and designs have to be extremely careful to ensure that no infringements have happened. Any professional Importer of Record (IOR) service doesn’t facilitate the shipment of counterfeit products.
Keep in mind that customs authorities all around the world have the right to seize all such counterfeit products and impose heavy penalties on declarants and consignees.
Besides these major responsibilities, it is also on IOR services to clearly declare the country of origin of the shipment. The country of origin determines if the goods can be exempted under free-trade agreements or some other importation rules will apply to it.
GCE Logistic is considered as one of the top importer of record service providers in the world, where you can read all you need to know about importer of record (IOR) or you can get your Importer of record quote. or check iorservice.com.
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