Im brand white

Register

and get access to full InnMind Platform toolset
Innovative technologies

Be Ready To Meet Proper Customs Compliance

by Wendy Dessler, from Outreachmama, on Aug 13
There is a common fear shared by technology businesses when it comes to international expansion. These are based on the perceived logistical and practical complexities, specifically meeting customs compliance.
Calculation

Having shipments stopped at the border is frustrating for clients and this experience can send these valuable customers and partners to buy elsewhere. It takes a lot of time and effort to ensure easy and quick passage of goods, but it is well worth the effort to have that foreign access and presence.

The safest solution to get help shipping and importing IT equipment is to partner with an experienced Importer of Record. This is a designated entity agreed upon between buyer and seller that assumes the legal and practical risks related to performing the role of the non-resident importer. For example, TecEx is experts who specialize in moving IT and medical equipment overseas in over 180 countries. They offer some of the best lead times in the industry due to their repeat experience and constant expansion of access. They guarantee streamlined customs clearance of shipments that can be tracked using their online portal, and they double as tax recovery specialists for Import VAT, customs duty, and other refunds.

What does meeting customs compliance involve?

  • Researching and determining the regulations relating to the classification of goods and if any restrictions or special rules apply.
  • Looking into trade agreements and taking advantage of lower duty and VAT while retrieving proper certificates.
  • Keeping up clear communication between buyer, seller, carrier, broker, or any other parties along the chain. Making sure vendors have the proper paperwork like invoices filled out correctly with all the necessary details, including identification and classification numbers, terms of sale, etc.
  • Technology and dual-use goods are subject to tight regulations and accompanying permits and licenses need to be completed prior to importing.
  • Arranging brokerage beforehand and supplying them with shipment information as soon as possible.
  • Reviewing customs declaration for accuracy, paying attention to each detail such as amounts, weights, tariffs, origins, and dates. Submitting corrections immediately and keeping all paperwork for reference down the line.

There are other considerations depending on the countries involved, the types of materials being shipped, amounts and weights of the shipments, and more, depending on the agreement(s) made. The importer is responsible for paying fees, taxes, and meeting customs compliance. The ability to pass these requirements off to a professional, seasoned non-resident importer or Importer of Record offers a great relief. Each nation has their own rules and regulations that are subject to change and having dedicated resources in-house to verify that each step in the process is completely and accurately met is difficult – and it adds up! Passing the risk to a third-party entity who is held liable for customs and importing errors is a wise choice, especially for those moving highly regulated goods like radiation-emitting devices (electronics) and items that can be classified as dual-use goods. An IOR like TecEx can also fetch valuable refunds on indirect taxes incurred, as well.

Don’t let customs compliance inhibit making international partnerships and market growth in foreign destinations. Adequate research, preparation, and smart partnerships allow you to go where the competition fears to tread.

Note: Full or partial copy of the publication is allowed only with the direct active link to InnMind platform.

Top publications this week