IOR/EOR Solutions
IOR/EOR Solutions
The Importer of Record (IoR) & Exporter of Record (EoR) services has been established to meet the needs & overcome the challenges of international traders by providing a unique source for trading support with its powerhouse of experiences and expertise to fulfil all their Import and Export requirements.
At CDZ, we know the necessity of smooth export & import process for client which enables their business to maintain the flow of the supply chain. Our logistics & regulatory expert team can review your supply chain to help enhance customs clearance activities, identify potential risk areas, optimize internal controls and procedures to maximize internal compliance in the most efficient manner.
This allows companies to easily expand into new markets without the burden and exposures of establishing new legal entities in each country.
Role of an Importer of Record
The importer of the record plays an important role in controlling the import of banned substances and materials as well as in the payment of the correct customs duties – following the right tariff, and other fees to the government. As such, they are responsible for the import and payment of all related duties and fees on behalf of their customers.
An IOR gets the right documentation from the exporter so that the goods can be imported to and cleared at the destination country
Key objects that an Importer of Record (IoR)
There are a number of key objects that an Importer of Record (IoR) is required to ensure in any shipping transaction. For example
- Ensuring compliance requirements includes the rules, regulations and best practices of importing and exporting between two countries.
- Performing compliance assessment to define Harmonized Classification Code & import restrictions.
- Responsibility to customs, tax and other regulatory authorities
- Application for necessary import/export licenses or permits.
- Completing all regular filing requirements associated with the payment of duties and taxes.
- Simplifying the clearance procedures of shipments.
- Saving clients from the costs of establishing legal entities in countries.
- Reducing their exposures to corporate taxes
