What is an Importer of Record
International trade can be complex. Each country has different requirements that must be followed to be compliant with its customs policy. An Importer of Record (IOR) must always be appointed when importing goods to another country.
An Importer of Record (IOR) is the entity or person in the destination country responsible for ensuring compliance requirements are met. It is much like an Exporter of Record (EOR) but applies to imports rather than exports.
The IOR entity is responsible for completing legal documents for customs clearance and product classification, and the payment of associated fees, duties, and taxes. They are also the entity liable for all risks associated with clearing the goods.
TecEx is your complete IOR service partner. Our knowledge of global import compliance requirements is unrivaled and up-to-date, ensuring first-time clearance.
Contact a member of our expert team for more information!
The creation of the IOR
The position of Importer of Record was created by Customs and Border Protection (CBP) in 1993 via The Customs Modernization Act. It was brought about to help protect imports from threats relating to terrorism and ensure duties were paid on all imported goods. The appointed Importer of Record must ensure all goods are valued and classified correctly so that they accurately reflect the duties.
Compliance Considerations for an Importer of Record
The appointed IOR is subject to enforced compliance. Enforced compliance includes inspection on imports, documentation audits, monetary penalties, civil penalties, criminal penalties, and investigations.
Some government agencies can overrule the IOR and deny entry to imported goods if they believe they may pose a threat. Agencies such as this include the Environmental Protection Agency (EPA) and the Food and Drug Administration (FDA).
The Benefits of an IOR Service
If you are planning to import goods on a global scale, an IOR service is essential. Unless you have a physical presence or representative with extensive import experience within the country you are importing to, you will not be able to do this.
As an IOR service, we take responsibility for the legal side of importing goods, helping to ensure you do not incur any unnecessary costs or penalties.
With the TecEx IOR service, you can rest assured that all requirements will be executed in line with the law of the country you are importing goods to.
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.
Why Should I Use a Professional Importer of Record?
- Mitigate your import risks.
- Deliver on your business requirements without needing to become an import compliance specialist.
- Fulfill your client’s DDP (Delivered Duty Paid) requests without any risk or responsibilities.
- Enjoy risk-free, professionally handled, and efficient shipping.
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.