No law says you have to hire a customs broker to help you clear imports into the US. But a smart importer, whether large or small, usually engages with an expert for customs brokerage services. A customs broker is a licensed professional who represents importers in their dealings with customs agencies. As an importer, ultimately you are responsible for completing the necessary documentation, providing accurate information and paying the duties and fees that apply.
But your broker does the actual work on your behalf. And the customs broker has your back. Intimately familiar with import procedures and regulations, a licensed broker makes sure you provide all the data for your filings, double-checks that information for accuracy and meets deadlines for transmitting documentation to US Customs. When you form a relationship with a customs broker, your first step is to sign a power of attorney, authorizing the broker to act for you in future transactions with US Customs.
Selecting an HS code is a complicated process. If you get it wrong, that could trigger an inspection, which comes with extra expense. A licensed customs agent understands how to make the right choice. Completes and transmits the Import Security Filing ISF — This electronic document provides information about the shipment, including the first six digits of the HS code. The ISF must be filed at least 24 hours before the shipment leaves the port of origin.
Obtains an ISF bond — The broker purchases this bond from a surety company to guarantee that US Customs will receive the ISF filing, the document will contain the required data about the shipment and it will arrive by the hour deadline. Obtains a customs clearance bond — Also purchased from a surety company, this bond guarantees that US Customs will receive all required duties and fees. Most importers engage the services of a customs broker or consultant who offers some or all of the following services:.
The preparation of customs accounting documents usually requires specialized knowledge in fields such as tariff classification, rates of duties and taxes, and origin of the goods. Most customs brokers maintain a database in which all the required data is entered. Because the data is online, any tariff changes or special instructions can be accessed rapidly, ensuring that accurate information is used.
Customs brokers are the primary source of knowledge and skills that help importers develop appropriate systems and procedures in reporting trade data. Many countries have systems in which brokers are electronically linked with customs through automated customs systems. This enables electronic transfer of accounting documents and payments and greatly speeds up clearance of shipments. A customs broker can assist an importer in a number of complicated areas, such as tariff classification, customs valuation, appeals and dispute settlements , refunds, drawbacks and remission of duties, sales and excise tax implications, payment of taxes and duties, seizure appeals, reviews of past customs accounting documents entries , and anti-dumping and countervailing issues.
Some customs brokers offer freight-management services, based on the buy-and sell principle. A customs broker buys freight rates in bulk from carriers and resells them to its brokerage clients. In addition to freight rates, a customs broker also purchases cargo insurance packages and makes them available to its brokerage clients.
Customs brokers also offer warehousing and distribution services, including inspection and storage of goods and processing of small orders.
A foreign company can become a non-resident importer by authorizing a customs broker to clear its goods through customs. A customs broker works with these departments to ensure their client is not breaking any rules. Clients and governments hire customs brokers to keep abreast of all the latest rules and regulations, taxes, and documentation needed to bring items into or out of a country.
This information varies wildly from place to place, making it exceedingly difficult for a business to keep up with everything, so the business hires a broker to do it for them. Customs brokers are responsible for obtaining and filling out all the paperwork needed to present to government agencies for a shipment of goods.
They are expected to know what papers are needed and to prepare them correctly to prevent any delays. They are the middleman between the importer or exporter and the government.
They calculate and ensure duties and tariffs are paid. They obtain and make insurance claims, track cargo, and interact with customs officials. Customs brokers also strategize with clients on what markets are lucrative and which ones are not. With their understanding of tariffs and regulations, they are able to help companies explore new markets.
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