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Importer of Record IOR Canada
Importer of Record IOR Canada, A Short Guide to Import Commercial Goods Into Canada IOR Like any other country, Canada outlines a particular set of rules and regulation for importing. However, these rules are applied on any commercial good to the country. All the seasoned Importer of Record IOR services for Canada comply...
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5 Things You Need to Understand about Customs Bonds
What are Customs bonds? Essentially, Customs bonds serve the purpose of insurance. They ensure that the US government will receive payment in the form of taxes and duties for the imports that you make. Customs bonds are just called “bonds” in the trade industry. Why should an importer have one? However, there is a popular...
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Is Pre-Export Screening the Future of Border Management?
Customs authorities had adopted the practice of screening international cargo, as it arrived in the country, compared to having the cargo pre-screened, before it leaves the country from where it is being exported.However, Technological shifts and changing paradigms, have led to the emergence of issues that pose a threat to...
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Everything You Need to Know about the Distribution Center Boom
What is a Distribution Center? IOR Service Distribution Center is a storage facility that is smaller in dimensions than a conventional warehouse. A Distribution Center DC is used for receiving, temporarily storing and redistributing goods. This is in accordance with customers’ orders as they are placed. Distribution Center...
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What The Customs Revenue Benchmarking Database Will Do For International Trade
In modern trade, a Customs Revenue Benchmarking Database seems to be the Holy Grail that several nations seek. Disproportionate treatments and product classifications across various countries lead to different applicable duties on products in each country. Therefore the decision to export or import is one that is fraught...
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Considerations for Customs Management in Multinational Companies
Companies usually hire customs brokers and freight forwarders to manage the actual process of importing goods. This is because the requirements of the process involve complex logistical considerations, management of documentation and specialized expertise needed to handle customs, carriers and international suppliers....
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The cost of trade compliance
Trade compliance is one of the buzzwords in modern global logistics. Businesses that operate at a global level are driving towards ensuring that they follow established compliance procedures as it is crucial for maintaining visibility, accountability and trustworthiness. However, given the complexity of laws and procedures,...
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Bans, Tariffs and other Export Control Solutions
Moving into international exports can be a tough task for any small to medium size business. Most governments have policies in place that place strict restrictions on overseas goods that can make trade prohibitively expensive, or even impossible and put Bans Tariffs Export Control. In 2015, an approximate $1.3 trillion in...
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Piecing Together the Trade Compliance Puzzle
Introduction to Trade Compliance Trade compliance is an umbrella term that encompasses the conditions for all manner of trade between multiple countries. However, These conditions include training, classification, lending, determination of trade risk and all relevant taxes and duties. Trade compliance is made further complex...
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What is the Harmonized Tariff Schedule and Why is It so Important
The Harmonized Tariff Schedule (HTS) was developed by the Congress on January 1, 1989 for the purpose of replacing previous tariffs. However, The World Customs Organization (‘WCO’) was responsible for its subsequent implementation. The WCO uses the Harmonized Commodity Description and Coding System (HS) to assign codes to...
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