When your business is global, there are international rules and regulations that you have to play by. To streamline your intercontinental business, Rahi Systems can be your go-to Importer of Record (IOR). An IOR is an entity or a single person, responsible for the import/ export of goods in compliance with the laws of the respective countries.
Importer or Exporter of Record technically have similar responsibilities. Governments around the world consider the Importer of Record (IOR) as the official owner or purchaser of goods being imported into a destination country. The IOR can be the owner, purchaser or a customs broker with the right authorization.
Under the Customs Modernization Act of 1993, the Importer of Record was created by the Customs and Border Protection (CBP) to scrutinize imports/ exports thoroughly to prevent any terroristic acts and to ensure payment of Import/ Export Duty. An Importer of Record (IOR) has various responsibilities from filing the right documents, maintaining the paperwork, providing any additional documentation of initial assessment for an import.
Why You Need An IOR?
Importing and exporting goods requires your company to have an established business or a legal entity in the country of import or export to act as the government-required responsible party in conducting the export or import transactions. There is a lot of paperwork involved and the IOR can ensure all the operations are done according to the international rules and regulations of each country involved. Here’s how an IOR will help in your global transactions:
The Importer of Record is directly responsible for:
With offices in five continents, Rahi Systems can offer you the following advantages as your IOR:
When you appoint Rahi Systems as your IOR, we take full responsibility for all the processes until your products reach their destination. This greatly minimizes the errors in compliance regulations. Rahi Systems will take the onus of accuracy and accountability of the goods and records according to the Customs and Border Protection guidelines.
For other tips and questions, click: https://help.cbp.gov/app/answers/list/search/1/kw/Changing%20Importer%20of%20Record/suggested/1