Question: We work at a warehouse where we pick pack and distribute goods for big pharmaceutical companies. The pharmaceutical companies have their customs brokers who clear their goods, the pharmaceutical companies act as the IOR, and these pharmaceutical companies even have their trade compliance departments. Normal business process. However, there has been a great increase […]
Question: What, if any, issues, fines, fees and/or penalties, might result if Customs audited a company in the US and discovered: The company made an agreement to pay a vendor in the US to act as the €œImporter of Record€ for widgets imported from a manufacturer in China that was subject to A/D and C/V. […]
Question: Under the Directive (Right to Make Entry) what are the pros and cons of a licensed customs broker acting as importer of record? I came across some companies that want us (LCB) to be the IOR for their transactions and their belief is that they will not be subject to trade compliance, […]
Question: For a US import shipment under DDP terms, only the foreign shipper can be the importer of record (IOR) and no other party can be the IOR- is this correct? If yes, is this based on DDP rules? If another party can be the IOR, what other incoterm can we base this […]
QUESTION: I am the owner of a dry shipper which is used in the pharmaceutical industry to ship perishable drugs at cryogenic temperatures. We rent/lease these shippers to various drug companies for their own use. Some dry shippers are sent overseas and empty shipper returning to the lessee for their use again. The […]
Question: In doing some research on our imports, I have come to realize that we have some Brokers acting as IORs and some shipments where we are the IOR. For companies that have several EINs, what benefit (if any) is there to having one IOR number? If I move from having the Broker be the […]
Question: We had a subsidiary that stopped operations back in 2010. I periodically pull reports from ACE just to make sure that no one is using that old number… the Importer’s bond was cancelled way back in 2010. The trouble I’m running into is that shipments keep popping up. It is a huge pain […]
Question: How can we, without slowing down the shipment, stop carriers from signing off as IOR, or how can I receive all the recordkeeping requirements for each air shipment if the carrier signs as IOR? This pertains to informal as well as formal entries, where I am finding incorrect classifications, NAFTA claims […]
Question: I am aware in the USA that customs statute provides that only an owner or purchaser of imported articles can file entry and serve as an importer of record (sure a broker can be IOR) . However, if I wanted to find out who can act as an importer of record in other […]
We are considering becoming an IOR/EOR in Australia as our business thereexpands. The main benefit is to be better positioned to take advantage ofduty minimization efforts and take more control over our business activitiesthere – rather than relying on our business partners who are not asresponsive as needed – and may change over time as […]
We are considering becoming an IOR/EOR in Australia as our business thereexpands. The main benefit is to be better positioned to take advantage ofduty minimization efforts and take more control over our business activitiesthere – rather than relying on our business partners who are not asresponsive as needed – and may change over time as […]
Question: Our company is going through a possible entity restructuring that would result in a new EIN number. If this does occur, what actions would I need to do with US Customs? What about on the export side?
