Exporter of Record definition
Exporter of Record means the entity officially involved in the export of a specific shipment of products out of a country or customs union. The exporter of record status makes a company responsible for obtaining export clearance and for complying with export regulations.
Exporter of Record means the party responsible for (i) declaring the export to HM Revenue & Customs; (ii) ensuring that the export complies with the Applicable Laws of the country of export; and (iii) paying all applicable taxes and export duties payable on the export.
Exporter of Record. Importer of Record” means the person or entity responsible for ensuring that the Goods are compliant with the legal requirements and regulations of the destination country and are correctly presented to Customs Authorities.
Examples of Exporter of Record in a sentence
For those Items that are warehoused and/or shipped by the Seller to/from the United States and its insular possessions on Buyer’s behalf where ▇▇▇▇▇ is the US Importer or Exporter of Record (also known as US Principal Party in Interest – PPI), Seller agrees to comply with the supply chain security requirements from the Point of Origin as provided below.
More Definitions of Exporter of Record
Exporter of Record. For import transactions (where Products are imported into the US), CLIENT shall be the importer of record and Products shall be cleared through CLIENT's U.S. Customs bond. CLIENT shall arrange with all customs house brokers to have the Products cleared through U.S. Customs, and thereafter held in trust for, and under the exclusive control of PFI. All customs house brokers must be approved in advance by PFI. For export transactions (where Products sourced in the US or other countries are sold to foreign buyers), CLIENT shall be the exporter of record and shall arrange for the supply of Products, their inland shipment and their export shipment through CLIENT's freight forwarder, subject to PFI's prior approval of such forwarder. PFI shall have the right to negotiate revisions to any payment arrangements directly with any supplier of Products and to control any shipment of the Products should PFI elect to exercise such rights. CLIENT and PFI shall jointly execute a letter to PFI's freight forwarder advising such forwarder of PFI's interest in the Products and instructing the forwarder to follow any instructions PFI might give concerning Products or related shipping documents; PFI shall have the right to give any such instructions directly to any forwarders or carriers and to confirm any related matters directly with any forwarders or carriers. For each letter of credit in CLIENT'S favor concerning Products, CLIENT shall execute an "authorization to pay proceeds of letter of credit" (also commonly referred to as "assignment of proceeds") to the bank where such letter of credit is payable, in a manner acceptable to such bank and in the full amount of the letter of credit. If requested by PFI, CLIENT shall execute a letter to any bank where a letter of credit covering any Products is payable, advising such bank that PFI is CLIENT's agent for matters concerning the letter of credit and requesting such bank to act according to PFI's instructions concerning such letter of credit or any documents presented under it.
Exporter of Record means the entity responsible for obtaining and documenting Export clearance.