Import and export processes involve several of specific procedures and documentation that must be accurately provided. In this context, the role of Importers or Exporters of Record is clearly effective, since they help to simplify such transactions. Companies that provide IOR/EOR services manage all activities required to ensure the compliance of regulations related to the product being shipped and the destination/source country. Below you can find more details about each service.
Importer of Record (IOR)
To bring and sell foreign goods in the Middle East, it’s necessary to comply with all local import laws and regulations. It’s essential to ensure the merchandise is properly documented and all import duties and tariffs are paid. This is the role of an Importer of Record.
An IOR provider acts as a local agent, assuming the legal responsibility of an importation. It coordinates all import processes in order to minimize the possibility of errors. The IOR has the liability to support all initial assessments for a transaction. But if the company is not on-site at the time of import, it can appoint a Power of Attorney (POA). With this proper authorization, a customs broker can act behalf of the IOR and accountable the trade.
Exporter of Record (EOR)
To ensure appropriate exports from the Middle East to other destinations, there is an Exporter of Record. An EOR has similar responsibilities to an IOR, but instead of deal with receiving foreign goods, it’s responsible for sending merchandise to outside the source country.
The role of an EOR is to obtain all export clearances, and so it must guarantee the local export regulations are being followed. In the case of violating any export process, the EOR will be responsible and it may face the corresponding penalties.
As an IOR/EOR service provider, GCE Logistics acts as your agent in the Middle East. GCE concerns to provide a simplified shipment clearance process, including a transparent activity that is fully compliant with all the import/export laws of each country. This allows your company to easily expand into new markets without the burden of establishing new legal entities in foreign lands. To know more about GCE Logistics IOR/EOR services, click here.