Due to globalization, several nations are involved in selling and buying products and services, also known as importing and exporting. As a result, developing nations gain access to goods and services they can’t access locally, which makes the market more competitive.
What Are Import Export Records?
The government keeps documents to keep a record of the import and export between nations: import-export records. While trading, you may have come across a competitor who’s offering the same product or service as you, but for a lower price.
You might have wondered if your competitor is merely cutting margins or if they’re getting their products cheaper. If so, from whom are they importing it? It is relatively straightforward to find out if you have access to import export records.
Companies from the USA maintain records of their import activities in US Customs’ Bill of Ladings and Shipping Manifests filed at US ports, which detail shipments in all US ports. The United States makes custom data publicly available, allowing companies to obtain import and export records more easily.
Every company in the US leaves a paper trail behind them. It is relatively easy to track active US importers or buyers and their overseas shippers or suppliers using the database, which provides names and addresses of the importers and exporters.
Let’s explore how to use import records effectively and what you can gain from an importer of records.
Where Can You Find Import Records?
Accessing import records of companies in the United States is relatively straightforward. Nearly anyone can see the paper trail left behind by companies’ exports and imports in the United States.
US import export records make it easy to find information about your competitors’ import history and your suppliers’ export history.
The old way would be by filling out a Freedom of Information Request and paying thousands of dollars to the DHS; you can obtain this information.
Today, several websites provide such information much more easily, and the lack of a fee makes it much simpler. Upon entering the name of a supplier or competitor, you will be able to learn all of that company’s recent import and export activity.
A platform like Trademo makes it easy for you to find information such as import and export records. With Trademo, small and mid-size businesses can easily start, grow, and manage their global trade.
You have access to shipment downloads, trading partner product details, user privileges, import-export data, and global trade data.
You can find over 5 million foreign companies doing business across borders through their extensive database, including company information, HS codes, and product keywords.
An easy-to-use interface and a legit database simplify looking at your competitors’ import-export records.
How To Leverage Importers Of Record?
Importers of record (IOR) is a purchaser or owner of imported goods or services who is in charge of importing them into the destination country. The importer of record is responsible for filling out relevant documents, paying taxes and duties, and paying tariffs on imported goods.
When importing and exporting goods globally, it is imperative to follow all the rules and regulations of a specific country. It is the job of an IOR to make sure that everything goes as planned.
In addition to keeping track of the import/export process, importers of record simplify and expedite customs clearance. Furthermore, they are local experts with extensive knowledge of rules and regulations and can conduct business on the ground, making transactions easy.
Which Countries Have Publicly Accessible Import Records?
As of now, the United States is the only country where import records are available to the public. Canada, the United Kingdom, Australia, and other countries do not make import records public.