Importer of Record Consignee and IOR Services

What is an importer of record?

An Importer of Record (IOR) is the entity or person in the destination country responsible for ensuring compliance requirements are completed and met. These include customs clearance, product classification, and the payment of duties and taxes. They are also the entity liable for all risk associated with clearing the goods.

Risks taken by the IOR

Audit risk – depending on the local laws and regulations, the Importer of Record is open to be audited for any transactions that it has been party to for up to 7 years after the import is complete;
Financial risk – the above audit can result in subsequent revaluations of the import resulting in larger tax bills and penalties relating to the import;
Legal risk – non-compliance with import laws and regulations could result in the loss of import licences and, for the importing entity, legal action against the entity and its directors;
Operational risk – improper importing procedures may result in the shipment being temporarily held or permanently seized by customs because of non-compliance with local import regulations.

Responsibilities of an IOR

Ensuring the import is customs compliant.
Make all necessary declarations.
Prepare and submit all filings.
Make payment for the duties and taxes.
Report back to government authorities regarding the status of imported goods.
Take on the risk of being audited for goods for up to seven years.

Why should I use a professional Importer of Record?

Due to the highly regulated nature of high-tech networking equipment and IT hardware, the Importer of Record is responsible for properly declaring the use of the equipment being imported. This can include, but is not limited to:

Mitigate your import risks.
Deliver on your business requirements without needing to become an import compliance specialist.
Fulfil your clients DDP (Delivered Duty Paid) requests without any risk or responsibilities.
Enjoy risk-free, professionally handled and efficient shipping.

When is an Importer of Record needed?

You are shipping to a country in which you do not have a locally registered entity.
Your local entity in the destination country is not set up for importing.
Your customer/local entity refuses to act as the IOR for various reasons.

How does the Tecex Importer of record service work

When using our Importer of Record Services, the clearance and filings are done in TecEx’s name. As a result, all tax payments and associated risks lie with us. TecEx will source and complete all necessary compliance documentation on your behalf. We perform all pre-compliance checks to ensure first-time clearance and a hassle-free shipping experience.

Why choose Tecex as Your Importer of Record?

TecEx is your complete IOR service partner. Our knowledge of global import compliance requirements is unrivalled and up-to-date, ensuring first-time clearance.

The professional TecEx team is constantly researching changes in local compliance and tax laws. Our quotes are instant and 100% accurate, giving you full landed-costs and predicted delivery times.

Complimenting the efforts of our professional team is our state-of-the-art TecEx App. This app provides our clients with seamless self-service quoting, pre-compliance, and tracking experience. In-app messaging ensures that you are always connected to your dedicated account manager who is right there to help you every step of the way.

Technology IOR

TecEx has years of experience in the complex world of IT hardware imports. As such, we understand the complexities and have developed tailor-made solutions to deal with any problem. We offer exceptional sleep-easy IOR for IT hardware into over 200 destinations worldwide.

Medical IOR

The complexity of importing medical equipment makes it challenging for companies to develop in-house import teams. TecEx, therefore, provides expert Medical Importer of Record Services and global compliance for clinical trials.

Full DDP Service

TecEx’s DDP import solution seamlessly manages the entire shipping process on your behalf. Our DDP solution includes coordinating freight, obtaining the licenses and permits, filing the necessary documentation, and paying all duties and taxes.

How are Fees Calculated?

TecEx provides a custom pricing structure on major global projects. Our experienced pricing team will develop the most efficient and economical solutions to even the most complex international projects.

IOR FEE

Billed as a percentage of the commercial value of the shipment.

IMPORT DUTY AND TAX

Charges that the government levies on all imports. Even free trade agreements require a declared commercial value on which duties and taxes are levied.

BROKERAGE, CLEARANCE AND HANDLING CHARGES

All charges relating to clearing the shipment through customs and effecting local delivery.

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Importer of Record