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The Ultimate Guide to Using an Importer of Record Canada
Importer of Record Canada: A Short Guide to Import Commercial Goods Into Canada Like any other country, Canada outlines a particular set of rules and regulations for importing. Within these regulations, Importer of Record Canada services play a vital role in helping businesses comply when bringing commercial goods into the...
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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 traditionally screened cargo upon arrival, but with rising global threats, Pre-Export Screening for Egypt is gaining ground fast. Technological shifts and evolving security concerns are pushing nations to vet shipments before they leave the exporting country. In Egypt, this approach is seen as a proactive...
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Everything You Need to Know about the Distribution Center Boom
What is a Distribution Center? A Distribution Center (‘DC’) 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 in accordance with customers’ orders as they are placed. Distribution Center DCs have...
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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 often rely on brokers for complex import procedures, but with new tech, Customs Management is now more accessible in-house than ever before. As digital platforms simplify documentation, compliance checks, and communication with customs authorities, businesses can take greater control of their supply chains. This...
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The Cost of Trade Compliance
Trade compliance is one of the buzzwords in modern global logistics. For many businesses, the cost of trade compliance is a growing concern, balancing the need for accountability with increasingly complex regulations. Understanding some essentials can help cut through the confusion and help businesses avoid unnecessary...
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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-sized business. From tariffs to export control policies, governments enforce strict trade restrictions that can make overseas business expensive, or even impossible. In fact, in 2015 alone, approximately $1.3 trillion in potential foreign exports...
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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...
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What is the Harmonized Tariff Schedule and Why is It so Important
The Harmonized Tariff Schedule (HTS) was developed by 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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