CUSTOMS AND CONSULTING
In addition to the canvassing of markets, International trade includes solicitation of new clients, the delivery of products, customs clearance of your shipments in the country of import.
If this responsibility is yours, it is crucial to consider it when determining the selling price, as it is part of the landed cost of your exported goods, and therefore an integral part of your negotiation. The choice of the incoterms will dictate who will be responsible for the costs linked to customs clearance activities. If this is your responsibility, that cost will have to be included in your strategic and penetration market planning.
The ignorance of customs regulations cannot be used as an argument and you will be held responsible to pay any penalties resulting in the non-compliance of import regulations, even though you have engaged the services of a customs broker. Prior to concluding any agreement it is recommended that you consult with a specialist in International Customs Regulations in order to palliate these situations.
Advices on current customs regulations will clarify:
- The admissibility of your products into the country of import.
- The tariff classification applicable on the exported product based on the global harmonized system.
- The duties and taxes applicable on the exported product payable at time of import into the country of destination, and whether the duties and taxes are recoverable later on.
- The requirements for packaging, labeling, marking and other specific requirements from other government departments for imported goods into the country.
As you can see, making inroads into the world of international customs regulations requires expertise and knowledge in several areas. We at Customs & Logistics 101 can look after all your needs and side step any obstacles that may arise in your development of international markets.
Contact us for a free exploratory consultation.