Every industry, including the importing and exporting industry, has their share of issues and complaints. If you are in the import and export field, make sure you are well-versed of the industry’s intricacies to survive the business. Knowing the usual pains and nuances that importers and exporters may deal with in their international trading business may help you prepare for the worst. These include the following:
Not Being able to Connect with a Reputable Customers Brokerage Firm
A lot of companies find it hard to choose a trustworthy brokerage firm. This might be because they are new to the industry or they don’t know the criteria which can help them in making a smart choice. But, picking a reputable customs firm is beneficial to a business since they help in making the importing and exporting process easier. The firm will do the customs transactions on behalf of their clients and ensure the freights arrive at their destination promptly.
Dealing with Problematic and Inefficient Logistics
Logistics issues can include delays at the port of loading, transshipment delays, inbound vessel withdrawal and more. Such issues can escalate to a lotof issues, mainly because they’re not communicated to consignees until they asked. Also, it becomes a serious issue when the shipping line provides faulty arrival dates in an attempt to save their grounds. This kind of approach will leave the company unable to take an alternative course of action.
Choosing a Broker that Lacks Expertise
Apart from dependability and honesty, businesses can struggle to find a broker that knows exactly what they are doing. This struggle is common in companies which import or export products and do not have their own staff to handle their customs obligations. A good broker should have knowledge of the changing regulations on international trade. They should help you prevent delayed shipments and paying for costly fees and penalties. Working with an incompetent customs broker will inhibit you from expanding your sales opportunities.
Dealing with Hidden Charges
Determining the hidden charges in importing and exporting is challenging, especially if you don’t work with a reliable customs brokerage provider like Clearit USA customs brokerage. Some of the hidden fees not accounted for in landed cost calculations include port fees, customs exams, wait-time fees, less than container load charges and more.
Serious Document Backlogs
In terms of importing and exporting, you will have to comply with certain rules and regulations to move goods legally without any interruptions. This is the reason a delayed documentation process can have serious impacts on the entire importing process, increasing expenses.
Customs clearance will require you, the airline, freight forwarder, or shipping line to submit a set of documents. To make sure there will be no delays, you must give complete and accurate information to the broker or freight forwarder.
Rules and Regulation Changes
In the importing and exporting industry, the rules and regulations that govern the business may change suddenly. For instance, the country of destination may suddenly issue an order which bands the import of items currently in transit. Because it is no longer possible for the vessel to unload the freights into the country of origin, either the buyer or seller will shoulder the losses or will find for an alternative buyer in another country. Also, sudden export duties and taxes are likely to lead to the exporter being unable to fulfill the order.