Every business needs legal guidance eventually. Companies that import or export goods will need representation from a law firm that understands domestic regulations and international trade agreements. Operating a business without this assistance could result in fines, excess costs, and potentially the seizure of merchandise.
Understand Restricted Items
Startups and companies expanding into new markets may not understand the regulations relating to their new products. Arms regulations, for example, can include many restrictions. Before investing in a new market, it can benefit an organization to discuss the expansion with a customs attorney to understand the costs and legal concerns with the new merchandise.
Avoid Merchandise Mistakes
A customs and trade attorney can also aid companies as they classify and value their merchandise. Overvaluing imports could result in paying more duties than necessary. Undervaluation can result in fines or criminal charges for underpaying duties. Undervaluation may lead to accusations of dumping and result in added costs that exceed the product's value.
Represent as Needed
A relationship with a law firm that understands customs and trade laws can protect companies if a legal issue arises. Businesses need a fast response when fines or other penalties arise. Working with an attorney can help avoid merchandise seizure, audits, and many other problems.
Provide Updated Information
Customs and trade laws change frequently. Tracking the changes domestically and internationally can confuse anyone. Attorneys who handle these matters will consistently update their clients on the changes that will affect them. The advice can include treaty issues, changes in NAFTA laws and other trade agreements, and more.
Business owners new to trade laws may mistake a customs broker for an attorney. Brokers, for a fee, assist those who import and export inventory to ensure they complete all documents correctly and pay the required fees. A broker cannot act as a representative for a client during a conflict or offer other legal advice for improving or protecting a business.
Legal guidance for importers and exporters protects against mistakes that could derail the plans of any company. Every fine or extra fee reduces overall profits and damages reputations, especially when the problems lead to accusations of dumping or illegal shipments. Attorneys help with other details like contract negotiations, finding solutions to prevent shipment delays, and much more. Every business can benefit from a relationship with industry professionals that understand the laws and know how to help a company legally meet its potential.
Contact a local customs and trade attorney to learn more.
Businesses exist in many sectors. Some businesses are built around offering services, such as landscaping or hair care. Other businesses sell goods, such as wooden shelving or shoes. All of these businesses have one thing in common: they nee a good attorney on staff to take care of legal issues. See, business attorneys do not just work when a business owner gets called into court. They also ensure contracts are accurate, help review questions about taxes, and review internal procedures to ensure companies are abiding by the law with their employees. This blog will teach you even more about business attorneys, so dig in.