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Custom brokers have crucial roles to play in the economy. They are the agents that facilitate the import and export of products across territorial jurisdictions. They bridge help balance the interest of the state and the private business sector. On one hand, the state through its regulatory agencies has the obligation to protect consumers against unethical and unfair business practices. Government regulations The state has the duty to prohibit any harmful products to enter its sovereign territory. It also has the power to levy taxes on imports and exports to help level the economic playing field. The taxes and duties imposed on commercial items are necessary for regulatory purposes. The revenues generated from these taxes are used in compensating inspectors, custom officers and also on litigations. Australian customs and quarantine laws are among the strictest and complicated laws worldwide. Hence, there is a necessity for high level specialization on this filed. Custom brokers must not simply be familiar with the applicable laws and taxes but must have expertise on the subjects. This is necessary to ensure reliable professional advice and services for their clients. A client-broker relationship should begin before the actual importation or exportation transactions of a client company. A brokerage must also be well-versed about the details or nuances of the client's business. In this manner, the appropriate documents, taxes, packaging, and type of products can be prepared to comply with the respective regulations. Hassles due to quarantine, confiscations, fines and litigations can be avoided. Hiring brokers Choosing the right custom brokerage or agent is not as simple as merely browsing in the internet or in the yellow pages. It is crucial to conduct some background investigation about the qualifications and track record of a brokerage firm. The best place to start is in the government regulatory agencies that grant license to brokerage firms and custom agents. In Australia, it is the role of the Australian Customs Service to regulate and license the custom brokerage firms. Verifying the license of a custom broker is the first necessary step. Corroborative information may also be gathered from professional organizations such as the Customs Brokers and Forwarders Council of Australia. The business track record and credibility of a brokerage firm can also be confirmed with the help of regulatory agencies and professional organizations. A would-be client can also ask other importing or exporting businesses for recommendations. If an importer/exporter have done all the necessary background investigation, the most competent broker is likely to be chosen. The business relationship is likely to be satisfactory and long-lasting. Broker familiarity It may take sometime for a broker to be well-versed in the intricacies of the business operations of a client. Hence, a long-term familiarity is needed. There is also the need to adapt to the changes as demanded by regulations and by economic forces. Custom brokers are very knowledgeable about government regulations on imports/exports, quarantine and customs duties. They are also well-versed about the global economic trends, particularly focusing on international trades. However, they are not knowledgeable about the specific business details of their would-be clients. Hence, there is a need for a period of familiarization. Learn about international freight forwarders in Perth by visiting our UCBrokers website for more details. You can further learn abou the services we are offering and about freight shipping services by following the hyperlink.
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