1. The concept of Entrusted Export – Import
We can simply understand that Entrusted Export – Import means you outsourcing an business for import-export service . This business will take responsibility for you and complete the import and export procedures.
Specifically, there are two types:
– Entrusted import: is the form where you hire an experienced third-party company specializing in import entrustment. This enterprise will represent the import company to perform the task of importing certain products or goods to Vietnam on your behalf (entrusting company).
– Entrusted export: is the form of hiring an experienced third-party company specializing in import and export entrustment. This enterprise will represent the export company to perform the task of exporting certain products or goods for your company to foreign countries (trading partners).
2. Who needs Entrusted Export – Import service?
Why do companies need a 3rd party to support their import and export? And which units or businesses will need to use this service?
– First: They are individuals, not organizations or companies. These individuals often do not have enough legal entities as prescribed by law to sign contracts with partners who are foreign traders.
– Second: Enterprises have full import and export functions. However, the goods that need to be exported or imported are completely new, and the goods that need to be imported are not on the list of goods that enterprises are allowed to import. Or with this shipment, businesses find that they do not have enough experience to do import procedures (especially for items that are difficult to import into Vietnam or require many documents and procedures)
– Third: Newly established enterprises, they do not understand the processes and forms of working with customs units. As with the import process, this leads to the need for assistance from a 3rd party.
– Fourth: Businesses do not trust shippers at the foreign and want to hire a forwarder company with an agent at the seller’s head, to contact and check the actual goods on their behalf.
3. The benefits of using the Entrusted Import-Export service
When using the Entrusted Import-Export service from a third party, there will be benefits such as:
– Cost savings: Instead of having to invest and spend an extra part of the cost for a separate import-export personnel department, you can choose an external import-export service provider with a team of employees. Having rich experience and good relationship in the industry will help businesses save quite a bit of money than doing it yourself.
– Save time: Each country, each item, depending on the time, has different requirements for documents and procedures. While the company that provides the Entrusted Import-Export service is already doing this on a daily basis, so they will be proficient and will surely solve the problem more quickly and smoothly. Thereby helping your business to limit many errors in the import and export process and save more time.
– Saving human resources: Outsourcing Entrusted Import-Export service will save human resources for your business a lot. Because if you recruit more employees, or expand the import-export department, your business has to spend a lot of manpower for this expansion such as recruitment and training.
– Share the risks that may arise: When an enterprise carries out import and export activities by itself, it may incur a lot of extra costs and sometimes it will be lost if there is an error in the documents or procedure. On the contrary, if you hire a service, it will certainly minimize risks like this happening. Because these units will be responsible for the goods and do the import and export procedures for you, when there is a risk, they can share with you a part of the loss.
– Ensure stability in operation: Most entrusted import-export service providers always store their records, documents, databases and customers carefully. If there is an incident such as loss of records, fire or tear, etc., it is very easy to recover. And certainly will not interrupt the shipping process of your business.
4. Notes when using the Entrusted Import-Export service
There are many benefits, but there are still some notes that businesses need to consider when choosing to use the Entrusted Import-Export service:
– First, businesses will need to pay an entrustment fee when hiring the Entrusted Import-Export service.
– When working through a 3rd party, the business will be less proactive and understand less information.
– There will be certain risks of information from suppliers and imported products as well. In some cases, the role of importer can actually be forgotten as the trustee and the seller frequently work and transact with each other.
5. Risks in Entrusted Import-Export service
In Entrusted Import-Export, not only businesses can be at risk, but service units, specifically the unit entrusted to do import and export can still face certain risks. The biggest risk for the trustee is the legal liability when the unit is on behalf of the importer or exporter on the documents. In some cases, the products and items inside the imported or exported consignment are prohibited items, the first responsible person will be the unit that does the Entrusted Import-Export service.
Therefore, companies and units that provide Entrusted Import-Export services should:
– Be careful when making all kinds of documents for import and export of goods.
– Only accept as entrustment under EXW conditions ie delivery at the seller’s factory. Because then EXW companies can ask their agents abroad to check the real goods inside. To make sure that the goods are declared true, not prohibited items and know the item well to make it easier to work with customs in Vietnam.
– Signing an Entrusted Import-Export contract between the forwarder company and the importer (the party to entrust). In order to minimize the risks, the contract needs to clearly state the covenant that the goods are declared on paper and according to the contract. The entrusting party will have to bear all responsibility for its goods being declared falsely.
6. Toho Taha’s Entrusted Import and Export Service
If you are an individual or a business in need of a reputable and professional Entrusted export – import service. Or simply you are doing import and export and want to save costs, time and human resources so that you can focus on business activities.
Then let Toho Taha help you optimize all import and export procedures and processes. Toho Taha is a unit specializing in providing Entrusted export – import services to customers with a staff of more than 10 years of experience. Currently, we are providing customers with the services of entrusted export and import.
Toho Taha is confident to bring the best values to its Customers such as fast processing time and committed schedule; professional and clear processes and procedures; the preparation of documents, customs and tax dossiers carefully; affordability; full invoice; Free advice for Customers on import and export policies, taxes,…
Contact Toho Taha for detailed advice and quotation on Entrusted export – import service according to the following information:
═══════════
* Toho Taha
Website: https://tohotaha.com.vn/
Email: info@tohotaha.com.vn
Hotline: 0917 00 99 68 (Mr.Thai)
═══════════
* All services of Toho Taha:
