Your first foray into the importing business can, indeed, be exciting. However, you also have to be prepared and know exactly how international trade laws will affect the growth and expansion of your company. These regulations differ, depending on the source or shipment.
When you review import information, the various subjects you need to know can almost seem overwhelming on first review. For example, you need to have an understanding of the following topics:
- Import tariffs
- Free trade contracts
- Packing declarations
- Certificates of origin
- Import permits
- Regulatory declarations
Moreover, the above list is a mere sampling. The best way to make the importing process easier and more straightforward is to work with a company that specialises in importing goods from your country. For example, if you import products and are based in Australia, this type of company can assist you with certain important details. For instance, if you have any questions about the import duty in Australia or similar concerns, you can ask the business for assistance.
A Full-Scale Operation
Whether you wish to import a small amount of items or require a large shipment, it is helpful to work with a company that is involved in all of the aspects involving international trade. For instance, if you are working with an Australian import company—one that is widely known in the country—you can typically contact an office in various areas in Australia. A full-scale operation features business locations in cities, such as Brisbane, Melbourne, Perth, and Sydney.
If you are a first-time importer, this information is good to know. That way, you can concentrate on the core aspects of your business whilst the trade company focuses on import details. Understanding import tax regulations and meeting international trade requirements can be a challenge. That is why it is imperative that you use the experience and skills of custom brokers at an international trade company. A custom broker knows what is needed to clear your import shipments when they arrive in customs.
Simplifying the Customs Process
To help you with the customs process, a customs broker will do the following:
- Prepare and issue any necessary declarations and paperwork to the proper authorities
- Evaluate that the goods meet the regular requirements, as they pertain to the recipient country
- Arrange any needed permits
- Categorise the product properly to reduce any issues with taxation
- Offer objective advice to your importing business
Besides overseeing importing, a full service international trade company is also well versed in advising clients on clearance and transport alternatives, as well as the requirements for quarantine. Insurance is provided as well. If you select a full-service company, you can handle all of your import needs with more streamlined ease.
If you are a first-time importer, you will also understand the process with respect to pre-purchasing, buying, and post-purchasing. All of these areas can be covered when you rely on a full service international trade company.
For example, pre-purchasing entails describing a product and researching and qualifying the potential suppliers. After the supplier is confirmed, the importer needs to determine the set-up costs, if applicable. Samples are also assessed when new products are being developed. Other details include packaging and labelling and the acceptance and confirmation of production samples.