Customs brokers are important for international trade because they keep up with the latest rules and regulations for international shipping.
Moreover, they help their clients avoid costly delays, fines, and confiscation of their merchandise.
They also understand the various entry procedures, admissibility requirements, classification, valuation, and rates of duty and applicable taxes and fees for imported merchandise. They help importers comply with these requirements and submit the necessary paperwork to CBP on their behalf.
They Reduce Costs
Customs brokers are licensed to file the necessary paperwork and clear goods through customs. They also pay duties and other fees on behalf of their clients. They do this through either an automated account or by paying directly to the government.
They can also provide other services that help reduce costs when conducting international trade. For example, they can use tariff engineering and duty drawback to lower the amount of duties paid on goods.
Additionally, they can also deal with issues that crop up throughout the customs process. This means that they can help you prevent problems before they happen, which can save your company time and money.
Customs brokers can reduce costs by eliminating the need for your company to do a lot of extra work when shipping products across international borders. This includes handling the customs clearance process, ensuring that all paperwork is filed correctly, and dealing with any issues that may arise along the way.
They Help You Avoid Mistakes
Depending on the type of goods you import or export, international trade requires knowledge about a wide range of regulations. Customs brokers stay up to date on these regulations and help their clients fill out the necessary paperwork so they can avoid penalties.
They also know how to pick the right HS code for your goods. This helps reduce the costs and stress associated with shipping and customs duties.
Customs brokers also make sure that your goods are classified correctly according to government rules and regulations. This ensures that you do not pay any unexpected fees during transit and makes the entire process easier.
Customs brokers are a vital part of international trade. They know the laws and rules in every country, so they can guide you through the whole process from start to finish.
They Help You Pick the Right HS Code
A customs broker can help you pick the right HS code when conducting international trade. They can also guide you through the complex import/export process and help you avoid costly mistakes and delays.
HS codes are part of a global standardized system of classifying goods in international trade. These six-digit codes are used by customs and governments to properly identify and clear products in various countries around the world.
These codes are a must-know when importing or exporting, as they determine the tariff rate on your goods and contribute to global trade statistics. If you don’t use the correct HS code, you may face legal penalties or have your shipment seized.
Licensed customs brokers keep abreast of the latest laws that affect international trade. They act as liaisons between their clients and federal agencies, tracking shipments, filing customs entries, paying duties and fees, and preparing required documents.
They Help You Avoid Delays
Customs brokers can help you avoid delays when conducting international trade. This is because they are knowledgeable about the Harmonized Tariff Schedule (HTS), a compilation of duties or taxes levied on goods as they enter a country. They are also familiar with rules of origin, free trade agreements, and product restrictions.
Many customs brokers offer integrated logistics services – including freight forwarding, warehousing, and local trucking – to provide efficiencies all along the supply chain. This helps you to avoid delays and miscommunications, and ensures that everything moves smoothly.
In a world where everything is moving digitally, it’s important to choose a customs broker that uses current customs software. This will allow them to transmit your customs clearance data electronically to the CBSA and CBP, reducing delays in your shipments’ clearance process.
In addition to facilitating shipments, a customs broker can also help you identify products that qualify for duty savings strategies. This is particularly useful if your business is importing from abroad.