All You Need to Know About the Role of Exporter of Record (EOR), What is Exporter of Record? What Are EOR Responsibilities?
Exporter of Record (EOR) services play out in the same manner as IOR services except that an EOR takes care of the rules and regulations associated with the shipment leaving the port of the exportation country.
Since they share the same exporting space, people often confuse the job of an Exporter of Record (EOR) with that of a freight forwarder. Read on this piece to get a better insight into the role of EOR services in the big picture of international shipments.
The Outline of EOR’s Job
It is important to mention here that any individual or company can assume the role of an Exporter of Record (EOR). An EOR has the main responsibility to take care of the paperwork pertaining to the export clearance. Besides that, the following are the things that any Exporter of Record (EOR) overseas.
- EOR services guarantees that the shipment leaves the port on time.
- EOR services also need to take care of the glitch due to which a shipment doesn’t make to the destination port.
- EOR services also handle all the inquiries made by the customs authorities of the exportation country.
In case of a botched shipment, the Exporter of Record (EOR) is responsible to pay the remunerations (if any) to the affected party.
Exporter of Record (EOR) and Forwarding Agents
As mentioned earlier, EOR and forwarding agents are not the same titles. Nonetheless, both of them can assume the role of each other. These are the things for which EOR has to correspond with the freight forwarder when they are working as different entities.
- EOR services provide their name, business address and EIN number to the forwarding agent.
- EOR shares the six-digit international export code (Schedule B number) of the given shipment.
- EOR is also responsible to share commodity details with the agent.
In case the seller (foreign principal party) wants to work with ECCN, then EOR services are responsible to furnish it and share it with the freight forwarder.
EOR Smoothens Your Export Work
Whether you are exporting something from within the country or any other shore, the services of Exporter of Record (EOR) comes in really handy. As evident by the above discussion, there are a lot of responsibilities associated with the job of Exporter of Record (EOR). And it is better if you give this role to a full-time expert instead of exhausting yourself in checking and maintaining the laundry list of export compliances.
Read more about What is Exporter of Record, Importer of Record, differrence between IOR and EOR: Importer of Record and Exporter of Records – IOR and EOR