If you are shipping or exporting anything from the U.S., you will probably need the services of a reputable and knowledgeable Exporter of Record (EOR). The borders have been tightened over the years because of the war on terrorism, poaching, drug trafficking, and other illegal vices. For anything to be moved between countries, the level of compliance is on a whole other level. Therefore, hiring an Exporter of Record could be the difference between successful exportation and a hefty amount of penalties and fines.
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The job and responsibilities of an EOR
It is prudent to note that any person, company, and entity can become an EOR. As long as you have a Tax ID, you can register yourself as the Exporter of Record for a certain shipment of goods and services. And as the EOR, you will be mandated with the task of proper description, measurement, and assessment of said goods and services. Due to the significance and legal implications of being an EOR, it is recommended that you hire an international logistics firm such as IOR Africa, which can streamline the process for you.
- The EOR is responsible for ensuring that your goods and equipment adhere to customs regulations. This also involves getting the necessary documentation and also proper description and assessment.
- An EOR must ensure that the shipment arrives on time and to the proper entry point. In the case the delivery is not made, the EOR must be ready to pay financial remunerations of a certain amount to the delivery recipients.
- Besides, the US Customs and Border Protection might have some questions and inquiries on the shipment. The EOR must be ready to answer all possible inquiries. The EOR takes the responsibility for all goods and equipment being shipped and is fundamentally the entity that owns the goods.
Could a Freight Forwarder be an Exporter of Record?
When it comes to exporting shipments from the U.S. to international destinations, Freight Forwarders are authorized to make filings to the Automated Export System (AES). But this does not make them an Exporter of Record.
For any services in an export capacity, we recommend you hire a trade and logistics company that is knowledgeable. The U.S. government is quite strict when it comes to export regulations and compliance. They will come down hard when you are on the wrong side of the law. Hire a proper EOR consultant and avoid fines and other penalties. Contact IOR Africa today. Our able customer service team will get back to you promptly about our services.