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Three Things An International Trade Attorney Can Do For Your New Import Business

by Jayden Graham

If your business is just starting down the road to international trade, there are many services that an international trade lawyer can provide that will enhance your chances for success. The following are just a few of them.

They can help you prepare to import a new product

You may have found a great source of a new product that you think is going to sell well for your business, but if you have no experience with importing products, you may find your shipment held up for any number of reasons. The government has specific regulations regarding imports, so you must get it right from the beginning. It is not just a matter of doing the paperwork correctly; you need to make sure your product is classified properly and you are paying the right amount of duties. Mistakes that you make can create delays, leading to late delivery of product to your distributors and customers.

They can advise you of tariff assessments

The tax rate on goods entering the country is complex, so it is better to consult with a trade attorney from the beginning. This is especially true if your business is planning on importing finished goods or partially assembled goods that you are producing in a foreign nation. The tax rate for finished goods will depend upon the country of origin. The amount you will owe for partially assembled goods can be tricky because there is no clear-cut market value for something partially assembled. In addition, the taxes can be different depending upon the classification of the product. You need to understand in advance what your tax liability will be so you can estimate your potential profit.

They can help with disputes with the government

There are many areas of importing products that can create the need for legal assistance. One example of this is the seizure of your goods because of piracy. This can happen to any business, and if it happens to you, there can be long delays while you attempt to explain how your product is not counterfeit. This type of situation is more common with finished goods you are buying for resale. And this can happen even after importing the same product for a long time. A new inspector sees your shipment for the first time and decides your shipment is suspicious. When this happens, you need an international trade attorney with experience in litigation. Granted, it isn't likely to go so far that you're in court, but an attorney will know the best way to convince the customs office that your shipment is not counterfeit.

Regardless of the type of product you are importing or the nation of origin, you should consult with a trade attorney before you begin to import anything. This same attorney can assist you when there is a problem with customs officials.

For more information, contact a law group like Braumiller Law Group.