Importing rules and regulations are complicated, and to make things worse, these norms change from time to time. Companies and individuals, who engage in imports and international trade, often rely on Custom brokers for getting things done. Basically, the process of staying compliant to necessary regulations is complicated, and it can be time-consuming. If there are mistakes in documentation and tariff classification, the penalties can be huge. Custom brokers take over the task on behalf of their clients, against a fee. From checking the basic paperwork to ensuring transportation and more, they can do it all. Working with a known service like Clearit customs brokerage has many advantages, and in this post, we are discussing some of the basics.
The basics of Custom brokers
Custom brokers have a legitimate role. To function in Canada, they must obtain their license from Canada Border Services Agency (CBSA). Contrary to what many may believe, hiring a Custom broker is not a compulsion. To be more precise, there is no law that states that you have to hire a broker to deal in imports. However, most businesses rely on these services to simplify the process and focus on what matters the most – core operation.
What can a broker do for my business?
It depends. Typically, Custom brokers obtain documentation required for getting imports cleared, review the documents and apply necessary tariff codes. They will the submit the declaration to Customs at the port of arrival for clearance. Many Custom brokers also function as consultants for businesses with regards to international trade, NAFTA and other applicable agreements. While they ensure that all the duties, taxes and costs are paid as required, they do their best to minimize the costs as possible. Working with brokers not only helps in reducing errors and mistakes, which can be expensive in the long run, but also mitigates risks that are inherent to business of importing and cross-border trade.
How to select a service?
Not all Custom brokers are the same, so we recommend that you do some initial research for finding a service. Find more if the company is reputed enough and is willing to offer references on request. With Custom brokers, you also need to check the range of services they provide, and if their agents are accessible around the clock and beyond working hours. Paying more for a better Custom brokerage service is never a bad idea.