What is Exporter of Record?

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With the increase in technology, the penetration of the internet, and the emergence of new markets, the entire world has become one huge marketplace. International borders are seeing an increase in the number of goods being shipped in and out of the country. However, malicious parties have also seen an avenue to scale up their activities. To ensure that there is an adherence to the set customs and regulations, the U.S. Customs and Protection Board has been ensuring that all shipments leaving the country all properly scrutinized. For the best EOR services in the current market, contact iorafrica.

For companies whose core operation is centered on the exportation and importation of goods and products, hiring an EOR is one of the best actions that they can do. Your business depends on goods arriving at the port of destination with no hiccups. Failure to adhere will lead to significant financial losses.

How can the hire of an Exporter of Record help my business?

When it comes to the export and import business, the biggest issue comes in when customs laws are violated. The US Customs and Border Protection don’t take this lightly. International trade laws can be quite technical. The negligence of a business to adhere to them typically leads to heavy penalties and fines. Due to the contractual obligations of your business, any delays in delivering the goods and equipment could lead to huge financial losses on your side. Instead of setting your company as the EOR, you can hire an Exporter of Record who can advise you accordingly.

An Exporter of Record is an international trade and logistics expert who specializes in export laws and customs. With such a professional on your side, you can be assured of compliance and adherence to such regulations. Besides, all the fines and penalties that have been a financial burden before can be avoided.

Once the goods have arrived in the country of destination, your EOR can function as the liaison to your forwarding agent. It all comes down to the contract and terms of the agreement. This can come with significant financial savings for your company, especially when you are handling large volumes of product.

EOR’s are highly meticulous professionals who will maintain all records regarding the shipment. This is important when it comes to queries and inquiries that are raised by the U.S. Custom and Border Protection agents. Once the contract is signed between the two of you, the EOR is fundamentally the owner of the goods. The EOR is mandated to answer all questions when it comes to the goods. For your business, this will allow you to focus on your core operations and allow for the EOR to cover the legal complaints on the shipments.