Selling and shipping goods internationally come with many challenges like organizing efficient logistical schedules, making sure associated permits, licenses, and tax forms are complete and correct, dealing with goods that get stuck at the border, and arranging for local delivery and the purchase of goods in a foreign country. Dealing with several parties along the chain means increased risks and potential for delays. Technology comes with additional hassles because it is highly regulated. In a world fearful of terrorist attacks, shipments of IT equipment undergo more scrutiny than ever before. Partnering with an Importer of Record (IOR) that can act as a single point of contact with door-to-door service can both simplify the shipping process and save you money.
In many countries, an Importer of Record is required. It is the entity that ensures your shipment clears customs while following the rules and procedures in place for each country. They take on the legal responsibilities and risks associated with shipping. An IOR will value, classify, and assess duties; pay import duties, fees, and taxes on shipments; follow local laws and avoid infractions; file bills of entry; organize recordkeeping. Some scenarios where an experienced Importer of Record is required is:
- if you’re shipping to a nation where you’re not locally registered
- if you’re shipping to a client who will not act or supply an Importer of Record
- if you’re selling equipment to an entity that requires delivery to multiple foreign countries
- if your client requests delivery on DDP terms
- if you’re shipping equipment to support a service offering
- if you’re selling to a foreign customer under an agreement whereby the equipment is provided at no value
- if your transaction involves proof of concept or temporary imports
An expert Importer of Record company like TecEx combines the services of an IOR with those of a tax recovery specialist. They will apply for all required import permits and licenses, arrange brokerage, clearance, and local delivery in 160 countries. They will ensure complete import compliance to guarantee smooth and efficient customs clearance, so you don’t need to worry about your technology shipments getting stuck at the border – upsetting and disappointing your client. They specialise in the technology space and cater to the needs of value-added resellers, distributors and manufacturers, IT solutions providers, cloud service providers, network security firms, and those operating in the data centre space. Their fast online quote portal will give you an instant idea of what you’ll save.
For extra efficiency and money saving, you should also fully outsource your tax recovery needs. Your IOR should offer global Import VAT refund services to recover indirect foreign taxes like VAT; GST; JCT and HST. They need to also help you out with customs and co-location taxes, plus any taxes on the local purchase of equipment or other goods. Taxes are often overlooked, and clients are unhappy if they have to pay a large sum of surprising extra costs.
It’s vital to find a competent IOR who has worked with big-name clients who can vouch for their services. Designating this responsibility to one partner streamlines the whole process, even for logistics experts, and choosing an Importer of Record with broad reach and an excellent track record with significant clients will give you peace-of-mind.