IOR KOREA

What is an Importer of record (IOR) and why is it important?

The Importer of Record IOR is the party responsible for importation. The importer bears legal liability to pay duties, taxes and fees. Additionally, the importer must comply with all governmental regulations related to their imports, particularly customs regulations. The importer can be the party who is purchasing or receiving the imported goods, or an interested party in the transaction who has the right to facilitate entry under the jurisdiction of the relevant customs regulator.

IOR signiﬁes the entity legally responsible to:

ensuring the imported goods comply with local laws and regulations
filing a complete duty entry and all relevant paperwork.
paying the assessed import duties and other taxation related to the entry of goods.

Import regulations vary between countries. The definition of Importer of Record IOR can thus be found in the customs code of the client’s country. Importing goods carries many legal obligations concerning duties, country of origin, and other regulatory matters typically enforced by the customs authorities of a given country. An importer may need to obtain a license to import and register an importer number at the customs authorities. Customs authorities also require a bond in their favor to allow imports. The importer of Record service provider, or the IOR will be liable for all customs-related requirements of the import transaction.

Having a physical presence in a pre-requisite to importing products to any serviced country. GCE offers competitively priced solutions to companies that are not physically present in the receiving country. As it is certified to do so, GCE can act as an Importer of Record or Exporter of Record.

Beneﬁts of hiring an IOR to handle global procurements

Global procurement of tangible items is a demanding endeavor, particularly when the client seeks to import goods into a country where they have no physical presence. Therefore, experts advise upcoming firms to hire an experienced Importer of Record IOR and Exporter of Record (EOR) to handle this on their behalf.

There are uncontested benefits to hiring an Importer of Record service provider IOR to import a consignment into any foreign country. To list a few:

Hiring an Importer of Record IOR removes the need to obtain legal identity in the country of importation:importer laws can be rigid, making compliance difficult, costly and time consuming. A large amount of paperwork and inter-departmental red tapping are part of the process that allows and entity to obtain a permit to import its goods into another country. If the client is an individual importer who is dealing with a one-time consignment, then it is very impractical to get into the long-drawn-out process of obtaining a license in the importation country. Hiring an expert Importer of Record IOR service provider can assist you in importing goods to the far-off destination ports. The Importer of Record IOR will act on your behalf and ensure compliance to all legal formalities in the destination country.

Importer of Record service providers IORs are expert of local customs laws: understanding customs laws and regulatory frameworks requires seasoned professionals who possess adequate contextual understanding. Hiring an Importer of Record IOR will spare you the trouble of having to understand customs laws and disentangle the complex webs of bureaucracy.

Importer of Record service providers IORs ensure the timely delivery of consignments: individuals importing consignments on their own often get stuck at the customs checkpoint. This is where experience and knowledge of the ‘fine print’ of the laws comes in handy. Experiences Importer of Record IOR service providers know how to circumvent bureaucratic barriers and deliver shipments on time.

Global IOR service

Shipping equipment into a country without hiring an Importer of Record IOR can be a daunting task. If the individuals are not fully aware of what to do, they could end up wasting significant amounts of time and effort as they attempt to understand regulations and navigate the bureaucracy.

A global Importer of Record service provider IOR can help clients save time and effort. Global Importer of Record service provider IOR sport vast importation networks spread across the world. They possess importing licenses as appropriate in various destinations hence they can ensure compliance with regulations to obtain clearance from the customs authorities of a given country.

Global IORs provide hands-on support

Global IORs provide global, hands-on support across the world. They perform task that include:

• Commission customs brokers:
countries have varying customs laws and regulations that importers should comply with to obtain clearance. Global IORs commission dedicated customs brokers at importation destinations to oversee the clearance. In countries, where there are no established customs brokerage entities, IOR provisionally arrange them for any shipment they undertake.

• Manage/handle/ensure compliance to International Commercial Terms (INCOTERMS):
INCOTERMS are a series of pre-defined commercial terms published by the International Chamber of Commerce relating to international commercial law. There are duties and taxes that are charged pursuant to INCOTERMS. Only an experienced IOR can pre-emptively determine these costs and facilitate the transaction globally.

• Ensure compliance with local laws and regulations:
as countries have varying laws and entities charged with overseeing customs affairs, Global IORs possess the awareness and expertise required to handle all domestic laws and regulations to process the shipment transaction.

Read more about importer of record here:

All You Need to Know About the Importer of Record Number
What You Need to Know About VAT Rules as an Importer of Record (IOR)
Role of Global Importer of Record IOR Services
Understanding Customs Bonds in Connection with Imports and Importers of Record (IOR) Services

What is an Importer of record (IOR) and why is it important?

The Importer of Record IOR is the party responsible for importation. The importer bears legal liability to pay duties, taxes and fees. Additionally, the importer must comply with all governmental regulations related to their imports, particularly customs regulations. The importer can be the party who is purchasing or receiving the imported goods, or an interested party in the transaction who has the right to facilitate entry under the jurisdiction of the relevant customs regulator.

IOR signiﬁes the entity legally responsible to:

ensuring the imported goods comply with local laws and regulations
filing a complete duty entry and all relevant paperwork.
paying the assessed import duties and other taxation related to the entry of goods.

Import regulations vary between countries. The definition of Importer of Record IOR can thus be found in the customs code of the client’s country. Importing goods carries many legal obligations concerning duties, country of origin, and other regulatory matters typically enforced by the customs authorities of a given country. An importer may need to obtain a license to import and register an importer number at the customs authorities. Customs authorities also require a bond in their favor to allow imports. The importer of Record service provider, or the IOR will be liable for all customs-related requirements of the import transaction.

Having a physical presence in a pre-requisite to importing products to any serviced country. GCE offers competitively priced solutions to companies that are not physically present in the receiving country. As it is certified to do so, GCE can act as an Importer of Record or Exporter of Record.

Beneﬁts of hiring an IOR to handle global procurements

Global procurement of tangible items is a demanding endeavor, particularly when the client seeks to import goods into a country where they have no physical presence. Therefore, experts advise upcoming firms to hire an experienced Importer of Record IOR and Exporter of Record (EOR) to handle this on their behalf.

There are uncontested benefits to hiring an Importer of Record service provider IOR to import a consignment into any foreign country. To list a few:

Hiring an Importer of Record IOR removes the need to obtain legal identity in the country of importation:importer laws can be rigid, making compliance difficult, costly and time consuming. A large amount of paperwork and inter-departmental red tapping are part of the process that allows and entity to obtain a permit to import its goods into another country. If the client is an individual importer who is dealing with a one-time consignment, then it is very impractical to get into the long-drawn-out process of obtaining a license in the importation country. Hiring an expert Importer of Record IOR service provider can assist you in importing goods to the far-off destination ports. The Importer of Record IOR will act on your behalf and ensure compliance to all legal formalities in the destination country.
Importer of Record service providers IORs are expert of local customs laws: understanding customs laws and regulatory frameworks requires seasoned professionals who possess adequate contextual understanding. Hiring an Importer of Record IOR will spare you the trouble of having to understand customs laws and disentangle the complex webs of bureaucracy.
Importer of Record service providers IORs ensure the timely delivery of consignments: individuals importing consignments on their own often get stuck at the customs checkpoint. This is where experience and knowledge of the ‘fine print’ of the laws comes in handy. Experiences Importer of Record IOR service providers know how to circumvent bureaucratic barriers and deliver shipments on time.

Global IOR service

Shipping equipment into a country without hiring an Importer of Record IOR can be a daunting task. If the individuals are not fully aware of what to do, they could end up wasting significant amounts of time and effort as they attempt to understand regulations and navigate the bureaucracy.

A global Importer of Record service provider IOR can help clients save time and effort. Global Importer of Record service provider IOR sport vast importation networks spread across the world. They possess importing licenses as appropriate in various destinations hence they can ensure compliance with regulations to obtain clearance from the customs authorities of a given country.

Global IORs provide hands-on support

Global IORs provide global, hands-on support across the world. They perform task that include:

• Commission customs brokers:

countries have varying customs laws and regulations that importers should comply with to obtain clearance. Global IORs commission dedicated customs brokers at importation destinations to oversee the clearance. In countries, where there are no established customs brokerage entities, IOR provisionally arrange them for any shipment they undertake.

• Manage/handle/ensure compliance to International Commercial Terms (INCOTERMS):

INCOTERMS are a series of pre-defined commercial terms published by the International Chamber of Commerce relating to international commercial law. There are duties and taxes that are charged pursuant to INCOTERMS. Only an experienced IOR can pre-emptively determine these costs and facilitate the transaction globally.

• Ensure compliance with local laws and regulations:

as countries have varying laws and entities charged with overseeing customs affairs, Global IORs possess the awareness and expertise required to handle all domestic laws and regulations to process the shipment transaction.