Customs broker 101: The important aspects importers should know!
If you deal in international trade, you are probably well-versed with the nature of regulations that govern imports and exports. Keeping up with the laws, regulations and norms is not always easy, and more often than not, businesses make mistakes and compliance errors, which can be expensive in form of fines and penalties. To avoid such issues, a Customs broker can be of great help. In this quick guide, we are discussing everything you must know about Customs brokers and what they can do for your business needs.
Who is a Customs broker?
A Customs broker may refer to a company or person, but the role is essentially similar. All Customs brokers must be licensed by U.S. Customs and Border Protection (CBP). At the primary level, their role is to procure shipments for their clients, and some of them even deal in consulting. Services like Clearit USA customs consulting work with businesses to help them with diverse aspects of importing.
What to expect?
Not all Customs brokers are same, and it is absolutely necessary that you select one that you can rely on. Typically speaking, Customs brokers provide advice on imports and exports. They will review purchases, shipping documents to ensure compliance with regulatory rules, will determine tariff classification and verification, and will evaluate the applicable duties and taxes to be paid. If you choose the right service, they will also help your business in reducing the duties and expenses involved in getting imports. They also take care of the necessary paperwork and will maintain the records as required. Most Customs brokers also specialize in post-clearance, which means they may assist with transportation of shipment, applying for refunds, accounting, and keeping up with customs compliance audits.
What does Customs consulting involve?
The role of Customs brokers as consultants may vary, depending on the business or client they work with. They have clear understanding of trade agreements and may offer advice on the same, with other aspects, such as preparation of documents and dealing with compliance audits and rules. They also help clients with tax requirements, exemptions, tariff aspects and so on.
There is no denying that importing is a part of international trade, but when you are not sure of how to execute business or how to avoid common pitfalls associated with compliance, hiring a Customs broker is the right step. Check online now to find the best-rated Customs brokers near you!