An Importer of Record (IOR) is the party to a transaction responsible for ensuring that imported goods meet the legal and regulatory requirements of Customs and Border Protection (CBP). This is hugely important because non-compliance with customs regulations carries serious consequences, including legal liability, fees and even seizure of cargo or suspension of an import license.
We end each year by sharing our most popular posts by readership of the past year. Not surprisingly, each of 2024’s top blog articles answers a question. Read on to see what others found so interesting.
For anyone importing goods into the US, there are two main types of companies providing services to help you bring them in: freight forwarders and customs brokers. Forwarders focus on the cargo transport, from origin to destination, whereas customs brokers focus on efficient, compliant clearance of your imports through customs. While there may be some overlap in duties, the roles of brokers and forwarders are more complementary.
If you’re involved in international trade and shipping, you need to become familiar with the HS (Harmonized System) Code for your products. Let’s unpack shipping HS Codes (also known as HS codes or commodity codes) – what they are, how they work, and why they are important. We’ll also demystify HS Codes by addressing common questions that arise, and explain how an experienced customs broker can help you navigate the complexities.
When you bring goods into the U.S., of course you expect to pay for transportation. But as you plan an import, remember that it also costs money to clear the cargo through U.S. Customs, even when the product isn’t subject to any duties. So you need to understand the elements that make up U.S. Customs import fees, and when they’re required.
If you’re importing goods into the USA, it’s important to know the answer to the question: When is a customs bond required? The majority of goods being imported into the USA require a customs bond as part of the entry process.
In the world of cross-border commerce, it’s important to note that different parties have clearly defined roles in order to expedite the process and manage the many important details. This ensures that there is as little friction as possible holding up an international shipment. The role of the exporter of record is certainly key in the shipping and customs process, so we’ll take some time to break it down.
If you’re importing goods into the United States, you’ll need to become familiar with customs bonds, and the process for obtaining them. Their purpose is simple: to guarantee that the shipper, or importer of record, pays all relevant duties, taxes and fees on imported goods, and the government gets its due.
No law says you must hire a customs broker to help you clear imports into the US. But a smart importer, whether large or small, usually engages with an expert for customs brokerage services.
Following is a primer on customs brokerage and how a licensed broker can help you clear shipments quickly through Customs, keep you compliant with all regulations, and help you avoid costly mistakes.
In our era of globalization, goods and materials are crossing borders constantly. The Harmonized Commodity Description and Coding System – commonly known as the Harmonized System (HS) – is like a universal language that ensures everyone understands what products are being traded, no matter where they come from or where they're going.
