What is an Exporter of Record? is a legally recognized entity responsible for ensuring that goods exported from a country comply with local and international trade regulations. The EOR is accountable for handling export documentation, paying duties and taxes, obtaining necessary licenses, and ensuring compliance with customs laws.
For businesses without a legal presence in the country of export, an EOR service provider facilitates the process, ensuring that shipments move smoothly through customs clearance and regulatory requirements. This is particularly useful for industries like technology, healthcare, telecommunications, and industrial equipment, where strict export controls apply.
Key Responsibilities of an Exporter of Record:
-
Regulatory Compliance: Ensures that all exported goods meet the legal and trade requirements of the country.
-
Customs Clearance: Handles the submission of export declarations and other required documents.
-
Tax & Duty Management: Manages VAT refunds, export taxes, and duty exemptions when applicable.
-
Logistics & Documentation: Prepares and processes necessary shipping paperwork, including certificates of origin and trade compliance forms.
-
Risk Management: Minimizes the risk of shipment delays, legal penalties, and non-compliance issues.
Why Businesses Need an Exporter of Record?
Export regulations can be complex and vary between countries, often requiring local licensing, special approvals, and trade compliance checks. An EOR service provider simplifies the export process, ensuring that businesses can ship products without establishing a legal entity in the country of export.
By using an Exporter of Record service, businesses can benefit from faster export clearance, reduced operational risks, and complete compliance with trade laws, ensuring a seamless global supply chain.