Imagine being the importer of record and the exporter of record in both the country of origin and the country of destination of the goods. It is hectic as one would have to know all the legal networks and requirements in all the countries they import and export from. This is why it is important to have both an importer of record and an Exporter of Record Services with IOR Africa.
A well-established freight forwarder will navigate with ease in both countries of destination. It is more advantageous and cheaper to deal with one company that offers both services compared to one company to act as IOR and another to act as EOR.
Services that IOR provides
- Provide import permits and legal border requirements
- Assist with payment of tax, and custom duty
- Ensure all the documents are for the shipment to the destination
- Provide storage and warehousing if required by the client
- Save the costs incurred by processing custom clearance
- Handle reverse billing documents in case the client would like the goods returned or exchanged
- Handle foreign exchange from the destination country to pay for the goods.
Services that EOR provide
- Handle communications between the importer and the client
- Handle taxation and fees to be paid at the Export port
- Recover and compensate financial consequences in case the goods do not reach their destination.
- Provide shipping documents to the shipper for the exportation of the product
- Handle export permits from the ports and legal entities
- Handle payment of tax and customs duties for the goods to be exported.
Advantages of having both the IOR and EOR under one company
One does not have to handle the goods from the exporter country and the importer country differently. With one agency handling the situation, one does not have to keep following up on whether the goods have reached the importation destination to have another importer of service.
The time taken to process the documents and clear on the importation documents is minimal.
The cost used to deal with both the IOR and EOR separately is more compared to the cost used to deal with both of them together.
Consider settling for a freight forwarder with both importers of record and Exporter of Record Services with “IOR Africa”.
Provide warehousing services
In case your goods need time before they are picked from the port, a freight forwarder company provides warehousing services.
An EOR/IOR company handles the documentation from both the country of origin and the country of destination.
They ensure all the legal documents are stamped and cleared legally to avoid any delays on the way.
Handle custom duty and tax
Since a well-established company understands the legal networks of a given destination, it will ensure all the customs duties and taxes are paid if applicable to the goods. This saves the owner the hustle of having to ensure all the payments are made.
In conclusion, for a smooth transition of exported goods to imported goods, go for a company that can provide both importers of record and Exporter of Record Services with IOR Africa.