Any importer, especially a new one, will find import brokerage a daunting task. There are a lot of regulations and responsibilities they must adhere to. And new importers who navigate through this process with little knowledge can end up with penalties and serious headaches. However, importers don’t need to figure all of this on their own. A licenced customs broker can assist them through the importing process. Here’s how:
It is already a tough job for any importer to sort through the Harmonized Tariff Schedule of the United States. And staying compliant with these regulations while filing the entry must be taken by an expert. A licenced broker can accurately classify every item on the commercial invoice and make any necessary filings or notifications required by other government agencies for the entry. Moreover, licenced customs brokers have knowledge of new regulations or requirements that Customs have imposed.
By hiring a customs broker, importers benefit from the peace of mind knowing an expert is representing them. Aside from assisting them in classifying the goods, the broker can act as a liaison between them and the government and advise the importer of the laws and regulations associated with every commodity. This way, the importer can better understand international trade. Clearit Canada brokerage services will allow for faster clearance of goods in Customs by providing all the necessary paperwork on time. For each of these transactions, critical business data should be generated, from the country of origin and destinations to tariff classifications, suppliers, routings, and intended use. Customs brokers also help importers leverage this information, transforming data into vital business intelligence. Today, these brokers offer a range of specialised services to help importers develop new product lines, assess the impact of global change, explore new markets, and reduce costs.
Avoid Costly Mistakes
Importers who don’t have knowledge in the trade can easily make mistakes on their entries. Even a single mistake can lead to stern penalties the Customs may issue. Such penalties can have great effects on the importer’s bottom line, depending on their severity. Hiring a customs broker can reduce the chances of making costly mistakes and dealing with penalties because they can help importers comply with Customs regulations.
Overall, it is in the best interest of importers to work with a licenced broker. They could hire a broker to double-check everything for them to ensure they don’t make a mistake or work with a broker when something happens to their shipment. Whatever they want help with, they can be sure customs brokers are up to the task.