Importing and exporting products is not a simple endeavor. You need to collect some documents and file electronic forms. Depending on what types of goods you are moving, there are different duties, taxes, and exercises you must pay. Also, various regulations govern international trade. To ensure you are compliant with all of these regulations, you must be familiar with the applicable laws. A customs brokerage firm like ClearitUSA.com can help you navigate the changing regulations and understand particulars associated with your commodities. Customs brokers have extensive knowledge in entry procedures, classification, admissibility requirements, taxes and duties, as well as valuation. So, why exactly should importers and exporters work with a customs broker? Read on to know the answer:
They are Knowledgeable About Complex Regulatory Requirements
If your business cannot afford to hire an employee who is well-versed in the regulatory requirements that govern goods transport across borders, you should consider outsourcing the hassle and working with a customs broker. An experienced broker provides a portfolio of import/export services that include logistics, warehouse and distribution, and freight forwarding.
Handle All Customs Paperwork for You
Goods that enter the United States require customs clearance. However, this will only happen when you can submit all the important documentation. A customs broker can present this information to the United States Customs and Border Protection (CBP). The broker will prepare entry forms that include shipment information like country of origin, overall product weight and quantity as well as harmonized classification codes. A customs broker can help you secure and complete paperwork that lets you enter into trade programs. Also, they provide outbound license details and make use of automated export systems for submitting information.
Take Part in the Payment of Duties, Taxes, and Fees
Although you can turn to freight forwards regarding advice on matters from taxes, duties, and fees received from a broker, a customs broker is involved in paying such dues. They need to have the proper license to do so.
Customs brokers ensure the proper classification of goods according to the harmonized traffic codes. Then, they calculate the duties and fees charged on your cargo, so you can make payments.
Customs brokers keep private records of inbound tractions safely. Sometimes, customs may request a broker to produce these documents as they carry out audits and inspections. And if you discover an issue with your shipment later, you can always ask to see such documents.