There are many things to know about conducting business with Mexico, one of the United States’ largest trade partners. One of the most important aspects of Mexican trade is the role of Mexican Customs Brokers.
What is a Customs Broker?
A Customs Broker’s primary objective is to clear goods through customs barriers for importers. Many of their responsibilities when working with a business include preparing necessary documents, calculating and paying taxes, duties and excises, and facilitating communication between government authorities and importers and exporters.
According to Mexican law, only Mexican Customs Brokers are allowed to clear products through Mexican Customs. Any and all commercial imports heading to Mexico – whether they’re temporary or permanent – are required to be executed by a qualified and authorized Mexican Customs Broker.
Mexican officials closely track the activities of Customs Brokers and the companies with whom they conduct business. Subsequently, Customs Brokers are required to register your business into Mexico’s Import Records – “Padron de Importadores.” Companies that fail to register through an independent Customs Broker will be required to utilize the services of an Import Company, but at a significant cost. According to Export.gov, the average Import Company charges 5 percent of the value of the shipment in question.
A good Mexican Customs Broker should be able to carry out their responsibilities without a hitch, resulting in consistent and successful international deliveries. As with other aspects of international trade, ICAT Detroit can help you navigate through this process and find the broker that best suits your needs.