exporter of record vs importer of record
exporter of record vs importer of record
- Focus: Responsible for ensuring compliance with export regulations in the country of origin.1
- Responsibilities:
- Ensuring all export regulations and laws are followed.2
- Accurately completing and submitting all necessary export documents.3
- Obtaining any required licenses or permits for the export.4
- Classifying the goods being exported.5
- Determining the correct value of the goods for customs purposes.6
- Mitigating potential risks associated with the export.
- Being prepared for potential audits by customs authorities.7
Importer of Record (IOR):
- Focus: Responsible for ensuring compliance with import regulations in the destination country.8
- Responsibilities:
- Ensuring all import regulations and laws are followed.9
- Accurately completing and submitting all necessary import documents.10
- Paying import duties, taxes, and any other charges imposed by the destination country.11
- Classifying the imported goods.
- Ensuring compliance with import restrictions and prohibitions.
- Being prepared for potential audits by customs authorities in the destination country.
Key Differences:
- Geographic Focus: EOR focuses on export regulations in the country of origin, while IOR focuses on import regulations in the destination country.12
- Primary Responsibilities: EOR is primarily responsible for export compliance, while IOR is primarily responsible for import compliance.13
- Financial Obligations: EOR may be responsible for export-related fees and licenses, while IOR is responsible for import duties, taxes, and other charges.14
In essence:
- The EOR is the legal entity responsible for ensuring that goods are exported legally from the country of origin.15
- The IOR is the legal entity responsible for ensuring that goods are imported legally into the destination country.16
Disclaimer: This information is for general knowledge and guidance only and does not constitute legal or professional advice.
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