Industry News

USA Market Update – Proposed Changes to Foreign Importer of Record (FIOR) Requirements

Attachments: With this article are the following attachments

Attachment title here...

The United States Government has announced proposed changes that could significantly impact Australian businesses exporting goods to the USA using a Foreign Importer of Record (FIOR).

While the changes are still subject to consultation and are not yet in force, they are expected to introduce increased compliance obligations, higher customs bond requirements, additional importer disclosures and formal customs entry requirements for many shipments.

If your business exports to the USA under DDP terms or currently acts as the Foreign Importer of Record (FIOR), we encourage you to review the attached summary outlining the proposed changes and their potential impact.

Please find further information in the attached TCF USA market update FIOR potential changes as well as more information on this subject from our USA partner, RIM Logistics, in the below link.  

https://www.rimlogistics.com/president-trump-signs-executive-order-to-strengthen-cbp-enforcement/

If you have any questions regarding your current US import arrangements, please contact your TCF representative.