An Exporter of Record (EOR) is the party that is legally responsible for the export of goods from one country to another. The Exporter of Record is responsible for ensuring that all applicable export laws and regulations are complied with, and for paying all duties, taxes, and fees associated with the exportation of the goods.
Responsibilities of an Exporter of Record
The responsibilities of an EOR include:
- Ensuring that all applicable export laws and regulations are complied with, including obtaining any necessary permits or licenses.
- Classifying the goods correctly for export purposes.
- Preparing and filing all required export documentation.
- Paying all duties, taxes, and fees associated with the exportation of the goods.
- Arranging for the customs clearance and transportation of the goods.
Benefits of Using an Exporter of Record
There are a number of benefits to using an EOR, including:
- Compliance: EORs have the expertise and experience to ensure that all export laws and regulations are complied with, reducing your risk of fines and penalties.
- Convenience: EORs can handle the entire export process for you, from customs clearance to transportation. This can save you a lot of time and hassle.
- Cost savings: EORs can often negotiate better rates with shipping carriers and customs brokers, saving you money on your export costs.
- Expanded market access: EORs can help you to expand your market reach by allowing you to export to countries where you do not have a physical presence.
How to Choose an Exporter of Record
When choosing an EOR, it is important to consider the following factors:
- Experience: Choose an EOR with experience in exporting the types of goods that you need to export.
- Reputation: Ask for recommendations from other businesses and read online reviews to get a sense of the EOR’s reputation.
- Services offered: Make sure to choose an EOR that offers the services that you need, such as customs clearance, transportation, and insurance.
- Price: Get quotes from multiple EORs before making a decision. However, don’t just go for the cheapest EOR. Consider the factors mentioned above when choosing the best EOR for your needs.
Top Exporter of Record Services
Here are a few of the top EOR services:
- FedEx Trade Networks
- DHL Global Trade Management
- UPS Supply Chain Solutions
- C.H. Robinson
- Kuehne + Nagel
Conclusion
Hiring an EOR can be a great way to simplify the export process and reduce your risk when exporting goods to other countries. By following the tips above, you can choose the right EOR for your needs and ensure that your exports are handled smoothly and efficiently.
Additional tips for choosing an EOR:
- Make sure the EOR is licensed and insured.
- Ask about the EOR’s process for exporting goods.
- Get references from other businesses that have used the EOR’s services.
- Be sure to understand the EOR’s pricing structure and payment terms.