What Do You Need to Know About the Exporter of Record and Their Roles
Under the new UK legislation for international trade, the Exporter of Record (EOR) must be based in the UK with a registered office or permanent place of business. The international cargo movement is a complicated and ever-evolving market that brings continual challenges to those looking to grow their businesses. And, with an abundance of terms and responsibilities, understanding the individual roles can be daunting. In this guide, we’ll cover everything you need to know about the Exporter of Record, how it applies to your business and what the roles are under this term.
What Is an Exporter of Record?
By definition, an Exporter of Record is an individual who takes on the responsibility of making sure goods are exported successfully. They are in charge of everything from documentation to understanding the relevant laws and regulations for the countries in question. Because trade compliance is so complex with different levels that change and evolve consistently, these individuals are there to help navigate the field and ensure fines are avoided. They are industry experts, allowing them to answer any questions or queries that arise and take on the risks associated with ensuring goods reach their end destination with minimal delay.
The Roles of an Exporter of Record
Many terms used within international trade are interchangeable. However, there are key differences between the roles of an EOR and freight forwarders, like the team here at Radius Warehouse & Logistics.
An EOR can be either an individual or a company. Their main role is to organise, fill and submit the paperwork needed for export clearance. They will also ensure that cargo leaves the designated port at the desired time. If a shipment is delayed for any reason, it is their responsibility to solve the issue at hand to ensure the goods make it to their port of destination. And, they also take on all the inquiries and requirements set in place by the customs office in the exportation country. As mentioned above, they are responsible for ensuring your shipment makes it to the designed destination without delay and safely.
It is also worth noting that in the event of damage or severe delay, the responsibility for remunerations lies with the EOR in question. They are required to make the financial compensation to the relevant party.
Freight Forwarder Roles
Freight forwarders offer a wider scope of support when it comes to international shipments. As well as supporting cargo by ensuring it fulfils all international trade requirements, they can also provide storage, distribution and legal support throughout the entire process. Freight forwarders are your voice within the global trade movement – they are there to find you the best rates, ensure you fill capacity on shipments and guarantee your goods the smoothest, safest and most reliable journey from your hands to that of your customers.
Many freight forwarders, including Radius Warehouse and Logistic Services, offer EOR and IOR (Importer of Record) services as part of their fully comprehensive packages. This gives you the benefits of both roles – the support from start to finish and help to pass your goods through customs in the quickest and least troublesome ways.
It is important to remember that UK customs laws are changing come January 2022. Under the new regulations, EOR’s used by UK businesses must be based in the UK. Additional guidance is expected to be released regarding this but, in theory, it takes away one benefit of working with international EOR’s and is a change businesses must consider carefully.
Benefits of Working With Freight Forwarder Offering Eor Services
With the process of moving goods abroad continuing to change and evolve, it pays to have an industry expert on your side. Freight Forwarders are overseers of the entire process, there to help support your business as it grows globally. Choosing an all-inclusive option in comparison with a sole EOR will:
- Eliminate the need for you to find legal representation in the destination country.
- Simplify the entire customs clearance process using a wide network of connections throughout the industry.
- Streamline the process of paperwork, providing you with a single contact to discuss required information and time frames.
- Provide means for storage before shipping, in secure warehouse facilities that integrate with your shipping process.
- Pass over responsibility for import and export costs, eliminating the risk of hidden costs.
- Ensure good documentation keeping for future reference and in the event of any legal action.
Having one contact take care of all of your EOR and IOR requirements will save you significant time and cost. When you find a business you can trust, they become an extension of your business and allow you to focus on other aspects of growth.
How Can Radius Warehouse & Logistic Services Help?
With over 20 years of experience, we are an independent freight forwarding business based in the SW of England. With logistical solutions for worldwide cargo units, our friendly and efficient professionals have experience in all aspects of logistics and freight forwarding. We provide EOR and IOR services within many of our packages, supporting our clients as they branch into new markets. Our innovative and flexible approach allows each one to tailor the services that we offer, fitting their budget and ensuring they have the confidence to trust in their chosen Freight Forwarder.
Alongside supporting your business with international documentation, we have experience in air freight, sea freight and road freight. And, for storage and distribution requirements, our full eCommerce services include Pick And Pack, Storage and Distribution from our warehouse facility just outside of Bristol. With Commercial Palletised Storage Space and our own eCommerce Fulfilment Software, we provide distribution services throughout the UK, EU and worldwide with our global network of partners.