Short for Exporter of Record, the EOR plays a significant role when it comes to ensuring compliance to rules and regulations when it comes to international shipments. In this age of trafficking and terrorism, international trade compliance has been tightened a couple of notches. Goods leaving and entering a country must be appropriately described and assessed in terms of value and must also conform to local, state, and federal import and export requirements, failure to which said goods will not leave or enter a port or harbor.
IOR Africa Services has been in the international import/export trade business for several years. We offer exceptional and efficient services to our clients who come from all over the world. Our expert knowledge of international trade laws makes us an essential service. Based on the size and type of export operation, we can be able to advise you appropriately. You can contact us either via mail or phone call. If you want to avoid undue penalties or delays on your next shipment, IOR Africa is the company you want to contact.
What is an exporter of record?
An EOR is a person or company that is responsible for the exportation of goods from one country to another. The EOR should be an entity that is knowledgeable in trade laws and compliance regulations. They need to know all the different cogs and wheels to ensure every step moves smoothly and avoids unwarranted penalties and fines. The EOR will ensure that all goods leaving the U.S. will adhere to US export laws and regulations.
Why an Exporter of Record is important?
By virtue of the fact that you have a Tax ID, it is possible for a company to register itself as the Exporter of Record (EOR) for their goods. Many companies may perceive this as a smart move because it gives you the responsibility for your goods and equipment. However, as a trade and logistics expert company, we highly disagree.
To get a proper view of this, let’s look at a regulation put forth by the U.S. Department of Commerce. It states that“… a U.S. seller will be liable for an export violation if the U.S. seller fails to exercise due diligence and proceeds with an EXW to a foreign buyer…”
The responsibility of being an EOR is huge. You must be knowledgeable about every export and import custom and regulation, a failure to which you will be held liable. Ignorance is not bliss, in this regard. It will come with a hefty price tag. This is not only in terms of fines and taxes. You also have contractual obligations to the purchaser of your goods on the other side.
By simply hiring an EOR consultant, we can help your goods to reach their destination within the preferred time.