Reporting and forecasting: customs watch, an indispensable ally
Customs regulations are constantly evolving, often subject to amendments that modify or add new provisions. Regular monitoring of these regulations is therefore essential, particularly for supply chain players such as shippers, RDEs (Registered Customs Representatives), lawyers, carriers, etc., whether in the context of imports or exports.
Failure to comply with these regulations can have serious financial and safety consequences. Errors in classification, origin or documentation can lead to incorrect customs declarations (customs duties, anti-dumping duties, standards, taxes, prohibited goods, health requirements, etc.). Moreover, they can lead to unexpected costs and even the loss of Authorized Economic Operator status.
Regular and effective monitoring of customs regulations will also enable you to take advantage of the tariff benefits offered by trade agreements, while remaining vigilant as to the application of the rules of origin linked to these agreements.
It is also essential to keep abreast of customs regulations linked to changes in the Union Customs Code (UCC), particularly with regard to IT aspects.
With the introduction of DELTA IE, many updates need to be closely monitored. There are several ways in which you can monitor customs regulations:
- Call in a customs regulations monitoring expert who is familiar with your company's structure and can quickly put in place actions to apply these regulations, requiring constant research on customs websites.
- Use a legal department that tracks a multitude of regulatory texts using keywords, making this information available to their customers. This includes classification rules, agreements with other countries, customs duties, refunds, standards, excise duties, regimes, quotas, explanatory notes, etc.
- Use an RDE who, according to the terms of his contracts, will inform his customers of changes in customs regulations.
Customs compliance is crucial to a company's success and long-term viability. By investing in effective monitoring, companies can guarantee their compliance and maintain their competitiveness in the global marketplace.
