Importer of Record
When you have a client in your local or overseas market who needs some equipment to be shipped to a 3rd party country, you might face some issues with the importation. This will happen when your client does not have a registered entity in the importing country. This type of transaction would most likely happen when you need to deliver the cargo to a Colocation Data Centre. For an import transaction, you need an entity to be responsible for the duties/taxes and also take certain ownership of the goods.
Why is it needed?
An importer is always needed for international trade. The buyer/receiver needs to clear the goods for import customs clearance hereunder, Business registration number, HS code of the commodity, licenses, permits. The importer will take certain ownership of the goods where he will be legally responsible for what the goods contain.