Importer Of Record (IoR) and Exporter Of Record (EoR) Service in Vietnam
- Tron Chan
- Sep 15, 2023
- 4 min read
Updated: Mar 10
If you're an international business looking to import or export goods, you may come across the terms "Importer of Record (IOR service)" and "Exporter of Record (EOR service)." These are essential roles that play a crucial part in ensuring a smooth and legal international trade process. This blog post will discuss what an IOR service and EOR service are, their roles and responsibilities, and why you may need them.
What is an Importer of Record (IoR)?
An Importer of Record (IoR) is responsible for ensuring that imported goods comply with the laws and regulations of the destination country. Typically, the IoR is a customs broker or a freight forwarder authorized by the importer or end user to act on their behalf. The IoR manages necessary paperwork, pays import duties, and ensures that the imported goods meet local standards and regulations. Simply put, the IoR is the legal entity responsible for the imported goods.
What is an Exporter of Record (EoR)?
An Exporter of Record (EoR) is responsible for ensuring that exported goods comply with the laws and regulations of the country of origin. The EoR is usually the exporter or a third-party logistics provider (3PL) authorized to act on their behalf. The EoR handles the necessary documentation, obtains any required export licenses or approvals, and ensures that the exported goods meet local standards and regulations. In essence, the EoR is the legal entity responsible for the goods being shipped out of the country of origin.
Importer of Record (IoR) & Exporter of Record (EoR) Services Provided by Tròn Chan in Vietnam
Importer of Record (IoR) Services in Vietnam: Tròn Chan represents businesses on import documents, handles customs clearance, pays import duties and VAT, and ensures that goods comply with all legal and specific licensing requirements in Vietnam.
Exporter of Record (EoR) Services in Vietnam: Tròn Chan represents businesses on export documents, manages customs declarations, prepares necessary documentation, and ensures that goods comply with the legal and licensing requirements of both Vietnam and the importing country.
Key Considerations When Using IoR & EoR Services
The delegation to Tròn Chan is carried out through an entrustment contract between Tròn Chan and the owner of the goods.
Businesses cannot delegate importation for goods on the prohibited or suspended import list.
For goods requiring import/export licenses, either the entrusting party (goods owner) or the trustee (Tròn Chan) must have a valid license before signing the contract.
If the entrusting party is not a trader, they can entrust the export/import of goods, except for items on the prohibited or suspended export/import list.
Why Businesses Need IoR & EoR Services
Tròn Chan's IoR and EoR services in Vietnam help businesses navigate export and import challenges, especially in these scenarios:
Foreign businesses without a legal entity in Vietnam wanting to import goods legally.
Vietnamese businesses without import/export licenses for specific goods that require licensing.
Businesses needing to optimize processes, save time, and ensure legal compliance to avoid having goods held at customs.
Tròn Chan – Your Reliable Partner for IoR & EoR Services
With years of experience in import and export in Vietnam, Tròn Chan specializes in providing IoR & EoR services to domestic and international businesses. We are proficient in handling:
Information Technology: Servers, network devices, software, data storage equipment, civil cryptography products, spare parts, etc.
Telecommunications: Communication devices, electronic components, transceiver equipment, mobile phones, desktops, surveillance camera, laptops, tablets.
Cosmetics: These include makeup products such as cleansing oils and lipsticks, as well as personal care products such as body wash, shampoo, and toothpaste.
Medical Equipment: Machinery, personal care equipment, spa industry equipment, medical instruments, as regulated.
Our IoR & EoR Process at Tròn Chan
Receive requests from businesses.
- Verify product information and determine the import/export needs of the business.
- Advise on and confirm necessary licenses and procedures.
Determine whether the goods fall under the category requiring special permits.
- Check import/export tax rates and relevant legal regulations.
Prepare documents for the shipment.
- Ensure all required documents are complete, including:
Commercial contract / Purchase order between buyer and seller
Commercial invoice
Packing list
Bill of lading / Airway bill
Certificate of origin (if applicable)
Import/export license (if applicable)
Insurance documents (if applicable)
Declare customs and complete financial procedures.
- Process customs declaration and handle specialized inspections (if required).
- Pay import tax, VAT, and fulfill financial obligations as per regulations.
Deliver goods to the business and complete the shipment.
- Clear customs and hand over the goods as requested.
- Complete related procedures and provide full documentation to the business.
Note on Import Duties & VAT in Vietnam
Import duties are calculated based on customs value and applicable tariff rates.
Some goods may benefit from preferential tariff rates under free trade agreements (FTA).
VAT on imported goods is applied at either 5% or 10%, depending on the product category. VAT is calculated as: VAT = (Customs Value + Import Duties) × VAT Rate
Tròn Chan – Trusted Partner for Your Import and Export Needs
If your business faces challenges with import/export procedures, licensing, or legalities, Tròn Chan is your go-to partner for quick, lawful, and secure merchandise import/export processes. Contact us at info@tronchan.com for consultation.
Comments