International trade and business are one of the major ways in which a country enjoys economic benefits, which is why import and export businesses are considered extremely important. As significant as the import and export are, both parties, the importer and exporter can be largely benefitted by hiring a customs broker. There are a number of roles that the customs broker performs. Therefore, the involvement of a customs broker in an import and export deal can make a huge difference. Besides, there are countless complications when it comes to import and export. So a customs broker can help you with the following.
- One basic function of customs brokers is to assist the clients by acting as an effective linkage between the government agencies and the shippers. As mentioned before, import and export can be a complicated job; therefore, a broker will ensure the shipments meet all the legal requirements, the goods are rightly classified with appropriate harmonized code, customs brokers also make sure that all the important documents are submitted. Apart from this, they also review packing lists and commercial invoices to verify that the taxes are rightly calculated and paid.
- Since customs brokers are responsible for compliance with several trade laws and regulations, classification codes and so on, the activities of a customs broker require a great deal of knowledge, skills, and immense experience. Apart from acting as an intermediary between the government, importers, and exporters, customs brokers perform tasks such as:
- The preparation, signing, and submission of significant documents
- Classification and valuation of goods
- Calculation and payment of fees, taxes, and duties
- Export registration
- Import permits
- Explanation of export laws and regulations
- Transaction revision for ensuring compliance
- Professional customs brokers often advise their clients on various matters such as the following.
- Product classification
- Guidance on rules and procedures of import and export
- Price and cost composition to import and export
- Shipment follow-up
- Insurance contracting
- Many freight forwarders have in-house customs brokers or they make use of trusted customs broker agencies for guaranteeing the best service for their clients.
Import and export businesses always have a different set of complications and failure to comply with these laws and regulations can turn out to be disastrous where one can end up paying a huge amount of money. So the role of Clearit Customs Broker in international business becomes extremely important for both parties.