If you are an importer or exporter, you are familiar with the job of a customs broker. This is the link between businesses that import and export goods and the U.S. Customs and Border Protection Agency. The broker’s job is to help individuals and businesses fill out the paperwork necessary to conduct business. The customs broker will also search for applicable fees and taxes for goods leaving or coming in to the United States. They will then inform the business on what needs to be payed. A customs broker can work in-house for a business or independently.
Here are the terms you need to know about the customs broker business:
Customs Broker License
A customs broker license is issued to those that want to work in the business. To obtain a license, a person must pass the licensing exam which covers tariffs and the regulations of Title 19.
Within the Code of Federal Regulations, Title 19 refers to regulations set for importing and exporting by the U.S. Customs and Border Protection, the Bureau of Immigration and Customs Enforcement and the International Trade Commission.
U.S. Customs and Border Protection
The U.S. Customs and Border Protection is an agency that’s part of Homeland Security. Its job is to regulate trade and border security. The CBP is the agency that is also responsible for issuing licenses to customs brokers.
Harmonized Tariff Schedule of the United States
The Harmonized Tariff Schedule is one of the top resources used by customs brokers. The schedule helps to determine the tariff classifications a specific type of good.
International Federation of Customs Brokers Associations
The International Federation of Customs Brokers Associations (IFCBA) is a professional organization for customs brokers worldwide. The organization provides networking opportunities and continuing education options for the industry.
National Custom Brokers & Forwarders Association of America
The National Custom Brokers & Forwarders Association of America (NCBFAA) is another professional organization that caters to the customs broker industry. It is for customs brokers that work within the United States and provides a number of benefits for its members.