Tag: customs brokerage firms

How to Import to the Philippines

Posted on by Richard Tyler

Importing refers to the purchase of goods from a foreign country. It is an essential economic activity for businesses and consumers to expand the global market. One of the most popular importers is the Philippines. It has a strategic trading site as it shares maritime borders with the ASEAN countries, including Taiwan, Indonesia, China, Malaysia, and others. It also imports goods from other nations like Korea and the United States.

While the Philippines offers great business opportunities for importers, it is essential to comply with its trade requirements and policies. A country that wishes to import to the Philippines should familiarize itself with customs clearances and updates. Since navigating the Bureau of Customs is time-consuming, they can rely on customs brokerage firms to know the legalities and processes in the shipping industry.

A customs broker is a an individual or a corporation that processes various types of goods through customs. It can also help importers verify that trading operations are carried out legally and ethically. Apart from these, a broker can process the relevant documents needed when importing products in the Philippines. These documents include the following:

  1. Duly approved Airway Bill or Bill of Lading, or any certification by the carrier or agent of the vessel or aircraft
  2. Commercial Invoice or any other verifiable commercial record proving payment if there is no sale for export
  3. Packing list
  4. and duly notarized Supplemental Declaration on Valuation;
  5. Documents as may be required by rules and regulations, such as:
  • Import Permit or Clearance,
  •    Authority to Release Imported Goods (ATRIG),
  •    Proof of Origin for Free Trade Agreements (FTAs),
  •    Copy of an Advance Ruling, if the ruling was used in the goods declaration,
  •    Load Port Survey Reports or Discharge Port Survey Reports
  •    Document proving exemption from duties and taxes, and
  •    Others, e.g., Tax Credit Certificate or Tax Debit Memo

Most importers are focused on their operations but cannot spend sufficient attention to accurately recording their items. When they hire a customs brokerage company, they will receive assistance in classifying items and understanding the laws that apply to each commodity. They will also be aware of the required paperwork, which will help them complete the documentation process.

To know more, here is an infographic from Excelsior.

Avoid Getting Ripped Off by Customs Broker Firms

Posted on by vitvk

The best way to avoid getting ripped off by customs brokerage firms is to work with a licensed broker. Customs brokers follow your shipments closely, focusing on local rules and regulations for the specific port you are using. They also give you advice on the best way to meet your customs requirements in the fastest time possible. Inaccurate customs declarations can lead to fines, audits, and sanctions against your business. You need a professional to make sure your customs declaration is accurate and free of errors.

A customs broker helps you navigate the complicated maze of regulations that govern international shipping. They are knowledgeable about the specific import laws for a particular commodity, and are well-versed in the entry procedures, admissibility requirements, classification, and valuation of goods. Customs brokers can work for shipping lines, freight forwarders, or independent businesses. They must be licensed to conduct business in the country of origin, as well as to be registered with specific customs offices.

The best customs brokerage firmsv will have the latest technology, and they must be trained and seasoned professionals in the field. Their staff must be knowledgeable and up-to-date on industry developments. These qualities help them provide the best possible service to their clients. Customs brokers will also have a proven track record in providing exceptional customer service. Therefore, a company with an excellent reputation is a good choice. The next time you need to ship goods, look into a customs broker company and start using their services.

There are approximately 300 customs brokerage company across the country. Many of these brokerage firms are private companies that specialize in customs clearance. However, there are many benefits to hiring a customs broker. Customs brokers can help you expand your market, attract new customers, and increase your profits. They will also share their compliance status electronically, so that boards of directors can better understand their duties and avoid large penalties for non-compliance. They also offer valuable advice and experience to businesses to help them become more profitable.

Another important benefit of hiring a customs brokerage firm is the fact that it contributes to the economy. The Philippines receives most of its funds from taxes, and customs brokerage firms are vital to that process. A good customs brokerage firm will be able to reduce both logistics costs and the level of customs taxes at the border. There are many advantages to hiring a customs brokerage firm, but choosing the right one is essential.

A customs brokerage firm can make your business run smoothly. Whether you’re shipping goods internationally or importing from another country, customs brokers can help you navigate the complexities of the customs system and ensure the proper clearance of your goods. The customs brokerage firm will understand the regulations and rules of every country, and ensure everything is handled properly. Customs brokerage firms can save you time and money by taking the burden of dealing with customs officials and regulations off your shoulders.

For more information about customs brokerage firms visit this website https://excelsior.ph/