By definition, an importer of record (IOR) refers to an importer (an entity or an individual) who is responsible for ensuring that legal goods are imported following the laws and regulations of the importing country. The importer of record is responsible for filing legally required documents and paying the assessed import duties and other taxes on the imported goods.
Importer of Record (IOR) Documentation Responsibilities
The importer of record is responsible for all supporting documentation that goes along with an import. This can include import and export licenses, permits, local rules and regulations paperwork, and more. Along with documentation, the IOR typically handles the payment of duties, taxes, tariffs, and fees, all of which require additional paperwork and forms to be filled out.
Enforced Customs & Compliance Considerations
The importer of record must remain compliant with all necessary rules, regulations, and statutes in the importing country. An IOR service provider is subject to enforced compliance inspections of imports, documentation audits, monetary penalties, civil penalties, and investigations. Certain government agencies have the authority to over-rule the importer of record and deny entry of certain imports. For example, the Food and Drug Administration (FDA) can deny an import if it’s seen as a possible threat to the general well-being of the United States.
What’s the Difference Between an IOR & EOR?
An exporter of record (EOR) covers the same points as the IOR but applies to exports rather than imports. An exporter of record is responsible for all steps of the export process from the country the product is leaving. An exporter is a person or company that is authorized by customs and government authorities to export goods from one country into another. The exporter isn’t always the actual seller of goods, it can be an entity acting on their behalf.
High-Value Goods
Every import of high-value requires a local business or registered entity to act as the importer of record for customs. As an example, it’s generally quicker and more cost-effective to procure high-value technology products from the U.S. as opposed to working with technology distributors around the world. Working with an IOR service provider gives you the ability to import into hundred of countries worldwide with a single point of contact, minimizing the risks and costs associated with high-value goods.
Additional Services Provided
Some IOR service providers, like Logistics Plus, offer additional benefits acting as your importer of record. Oftentimes this includes door-to-door logistics management, value-added tax (VAT) reclamation, duty and tax optimization to determine the accurate classification, trading entity assistance, and more.
Learn more about Logistics Plus IOR services by watching the video below.
Bitbean’s Executive Creative Director Charlie Katz interviewed hundreds of CEOs from across the nation to learn how they plan to navigate and build their businesses in spite of the challenges. Those interviews, including one with Logistics Plus Founder & CEO Jim Berlin, have been consolidated into one definitive eBook called “CEOs Speak: Shaking Their Fists at COVID-19.” In his introduction, Mr. Katz says, “In reflecting on their stories, I asked myself whether there is one core thread that ties them all together. I believe there is. Realistic Optimism.”
You can read the entire eBook online by clicking the image below. The Jim Berlin excerpt appears on page 375 with a link to the complete online interview from a couple of months ago.
The Commodity Classifications Standards Board (CCSB) has published a new supplement to the National Motor Freight Classification (NMFC®). These changes became effective 12/19/2020. Some of the notable changes are listed below.
Controllers, Motor Controllers, Switchboards or Switchboardsections – New Item, new classifications
Battery Chargers, Item 61270 – This item canceled and moved into Item 61700 – Electrical Appliances or instruments
Cooling or Freezing machines – Items 123310 and 123315 are canceled. New Item established , 123650 – Unit Coolers.
Tape Sealing or Masking – Item 154360 – Changed from Class 55 to a two tiered density based item with classes of 70 or 92.5.
Shears, pruning or plant cutting – item 185910 – Changed from class 70 to a three tiered density based item with breaks at 6 and 10 pcf and classes of either 250, 125 or 92.5
Doors or partitions – Item 34500 and Shades and Shutters – Item 35343, Shutters – Items 37110 and 37120. All items canceled and replaced with Item 35350 – Shades, Shutters or Blinds. A tiered density based item.
Cabinets, Filing – Items 79220, 80250 and 80270 – Canceled and replaced with Item 80240 which has density breaks at 6 and 12 pcf. New classes are 250, 125 and 70.
Toasters, Item 63360 – classes adjusted from 100 to 150
Joints or seals, expansion joints – Item 34830. Item amended to provide classes based on greatest dimension and density
Equipment, toy train, electric – Item 84150. Item canceled and commodity moved into Item 84260 – Games or Toys , which is a full density item.
Air Heaters, Windshield heaters or Air conditioners (Automobile Parts group) – Item 18850. Canceled and replaced with Item 17810 which is a three tiered density based classification with breaks at 6 and 10 pcf.
Gloves or mittens – Items 49900, 49905,49906 and 49920. Canceled and replaced with Item 49910 which is a two tiered density based items with density break at 7 pcf and classes of 175 or 100.
Item 110 Definitions and Explanations of terms – “Coin or Currency operated” clarified to include two articles that accept or require credit/debit cards or other forms of payment
Games, NOI coin or currency operated – Item 84180. Item amended to provide classes based on greatest dimension and density.
Cash Registers or Parts, Item 115840 – Item canceled and commodity moved into Item 116030 – machines, systems or devices .
Sign posts, brackets or Bases – Items 96740, 106340 and 106840 are canceled and replaced with Item 161130. Item assigns classes based upon greatest dimension and density.
Lenses optical NOI, Item 57940 – Item amended to ‘Lenses or Lens blanks, optical , NOI. Class changed from 200/85 to 85.
Compounds, Item 50227 – Item amended to remove bomb burst symbol and clarified that item does NOT apply on materials regulated by the DOT as hazardous and required to bear a Hazard class or Hazard division label.
Anchors, building, mast pole or smokestack, Item 104030 – Class amended from 50 to 70.
Logistics Plus Expands Importer of Record Services to over 190 Countries
Services cater to manufacturers, network security firms, cloud service providers, and value-added resellers across many industries.
ERIE, PA (November 19, 2020) – Logistics Plus Inc., a leading worldwide provider of transportation, logistics, and supply chain solutions, has announced an expansion of its Importer of Record (IOR) and Exporter of Record (EOR) services to and from more than 190 countries around the world. Logistics Plus has been providing IOR and EOR services to its global technology clients for several years but has since expanded its capabilities into other industries and additional countries. The newly augmented operation is headed up by an experienced team based in Erie, Pennsylvania, with support from the company’s offices and agents around the world.
IOR/EOR service providers are companies that take on the responsibility for an import or export shipment. Services include obtaining necessary import/export licenses, preparing the required paperwork, providing compliance checks, arranging for customs clearance, and assisting with all other aspects of the logistics.
“Shipping high-value products like technology equipment or servers globally is complex for even the most experienced logistics experts,” said Yuriy Ostapyak, COO and director of global operations for Logistics Plus. “These types of shipments are often highly regulated and require expensive import permits and local knowledge to avoid costly fines or delays. Logistics Plus has both the experience and expertise as an Importer of Record for a variety of clients, and our expanded services in this area will allow us to now help additional importers and exporters around the world.”
Logistics Plus Inc. provides freight transportation, warehousing, fulfillment, global logistics, business intelligence technology, and supply chain management solutions through a worldwide network of talented and caring professionals. The company was founded over 24 years ago in Erie, PA, by local entrepreneur Jim Berlin. Today, Logistics Plus is a highly regarded, fast-growing, and award-winning transportation and logistics company. With a Passion For Excellence™, its employees put the “plus” in logistics by doing the big things properly, plus the countless little things, that together ensure complete customer satisfaction and success.
The Logistics Plus® network includes offices, warehouses, and agents located in Erie, PA; Akron, OH; Buffalo, NY; Chicago, IL; Chino, CA; Cleveland, OH; Dallas, TX; Des Moines, IA; Detroit, MI; Fort Worth, TX; Haslet TX; Houston, TX; Laredo, TX; Lexington, NC; Los Angeles, CA; Melbourne, FL; Nashville, TN; New York, NY; Olean, NY; San Francisco, CA; Australia; Bahrain; Belgium; Canada; China; Colombia; Czech Republic; Egypt; France; Germany; India; Indonesia; Japan; Kazakhstan; Kenya; Libya; Mexico; Netherlands; Poland; Saudi Arabia; Taiwan; Turkey; UAE; Ukraine; Uganda; and United Kingdom; with additional agents around the world. For more information, visit www.logisticsplus.com or follow @LogisticsPlus on Twitter.
In case you missed it, Russell Means and Axel Kaldschmidt of the Logistics Plus Air Charter Group were featured in a recent airing of Business Spotlight on WPSE AM 1450/FM 107.1 Radio. Business Spotlight is a 30-minute program airing Fridays at noon. Each segment focuses on a business or organization that is making an impact across the region.
In this segment, Russell and Axel discuss the newly formed air charter group, the difference between air charters and traditional air freight, the solutions they provide our clients, and more. You can listen to a replay of the interview on the Logistics Plus YouTube Channel below.
Jim Berlin, Founder and CEO of Logistics Plus, was featured on Erie News Now Giving You The Businessnews segment this week. Erie News Now has partnered with the Erie Regional Chamber and Growth Partnership to highlight different Erie area businesses every Monday.
In this segment, Jim discusses the various solutions Logistics Plus provides our clients, the company’s way of thinking outside the box, hiring students from local universities, and more. In the interview, Jim said that, “It’s the company’s can-do spirit that has led to continued growth over the years.”
By definition, an importer of record (IOR) refers to an importer (an entity or an individual) who is responsible for ensuring that legal goods are imported following the laws and regulations of the importing country. The importer of record is responsible for filing legally required documents and paying the assessed import duties and other taxes on the imported goods.
