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Starting June 1st, 2023 Our warehouse fee will be $0.65/cubic foot per month

In effort to lower the warehouse storage fee during inflation, we have went narrow aisle racking.This construction took us four months but the project is finally completed. With narrow aisle racking, we are able to drop storage by 24%.We as partners will go through this inflation together.

Starting June 1st, 2023 Our warehouse fee will be $0.65/cubic foot per month

In effort to lower the warehouse storage fee during inflation, we have went narrow aisle racking.This construction took us four months but the project is finally completed. With narrow aisle racking, we are able to drop storage by 24%.We as partners will go through this inflation together.

Blogs/education-series

04/09/2024

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What is an EORI Number and its significance in international trade

    In the world of international trade, an EORI number is a vital component for businesses engaging in imports and exports. This unique identification code is used by customs authorities to track and monitor cross-border transactions, ensuring compliance with regulations and facilitating smoother trade operations. In this blog post, we will delve into the meaning and structure of EORI numbers, explore who requires these numbers, discuss their significance when trading within the European Union, particularly in light of Brexit, and provide a detailed overview of how to obtain an EORI number in the UK.

    What is an EORI number?

    What is an EORI number?

    EORI number meaning is an Economic Operators Registration and Identification (EORI) number. This is a unique identifier assigned to businesses or individuals engaged in importing or exporting goods into or out of the European Union (EU) and other countries. This alphanumeric code is used by customs authorities to track shipments, collect duties and taxes, and perform security checks on goods entering or leaving a country's borders.

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    Who Requires an EORI Number?

    Who Requires an EORI Number?

    Any business or individual involved in international trade activities, such as importing goods from non-EU countries, exporting goods to non-EU countries, or engaging in trade with other EU member states, will need to obtain an EORI number. This includes manufacturers, wholesalers, retailers, and distributors who move goods across borders for commercial purposes.

    Structure of the EORI Number

    Structure of the EORI Number

    The structure of an EORI number can vary depending on the country issuing it. In the UK, an EORI number is comprised of a 12-digit alphanumeric code, with the first two letters signifying the country code (e.g., "GB" for United Kingdom) followed by a unique registration number assigned to the business or individual.

    • UK EORI number format: GB + 12 digits (e.g., GB123456789012)

    • EU EORI number format: Country code + unique registration number

    Significance of EORI Numbers in International Trade

    Significance of EORI Numbers in International Trade

    EORI numbers play a crucial role in facilitating smooth and efficient cross-border trade operations. By using this unique identifier, customs authorities can easily trace a business's import and export activities, verify the legality of shipments, and ensure that all necessary duties and taxes are paid. Without an EORI number, businesses may encounter delays at customs checkpoints, face fines or penalties for non-compliance, and experience disruptions to their supply chains.

    Importance of EORI Numbers in Intra-EU Trade

    Within the EU, EORI numbers are essential for businesses that trade goods with other member states. When importing or exporting products within the EU single market, businesses must include their EORI number on customs declarations to facilitate seamless trade flows and comply with EU regulations. This helps to streamline customs procedures, reduce administrative burdens, and enhance the overall efficiency of intra-EU trade.

    EORI Numbers and Brexit

    The UK's withdrawal from the EU has significant implications for businesses trading goods between the UK and the remaining EU member states. Following Brexit, businesses based in the UK are required to have an EORI number that starts with the prefix "GB" to continue trading with EU countries. Additionally, companies in the EU need to ensure that their UK trading partners have a valid EORI number to avoid any disruptions to their supply chains.

    Procedure for Obtaining a UK EORI Number

    Procedure for Obtaining a UK EORI Number

    Businesses involved in international trade operations can apply for a UK EORI number through HM Revenue & Customs (HMRC), the UK's customs authority. The process typically involves completing an online application form and providing supporting documentation to verify the applicant's identity and business activities. Once approved, the business will receive a unique EORI number that must be used in all customs declarations and communications with customs authorities.

    1. Online Application

    Visit the HMRC website and complete the online application form to request a UK EORI number.

    2. Supporting Documentation

    Prepare documents such as company registration details, VAT registration certificate, and proof of identity for the individual applying for the EORI number.

    3. Approval and Issuance

    Upon successful verification of the application, HMRC will issue a unique EORI number to the business entity, enabling them to engage in international trade activities.

    Requesting an EORI Number Beginning with XI

    In the context of Brexit, businesses in Northern Ireland are required to obtain a special type of EORI number that begins with the prefix "XI." This unique identifier is necessary for companies based in Northern Ireland that move goods between Northern Ireland and the rest of the UK, as well as those conducting trade across the Irish border.

    Documentation Required for XI EORI Number

    Documentation Required for XI EORI Number

    When applying for an EORI number beginning with "XI" for trade involving Northern Ireland, businesses must submit specific documentation to demonstrate their compliance with customs requirements and regulations. This includes details about the company's operations, its trade activities, and the movement of goods across borders.

    • Proof of Economic Operator Status: Provide evidence of being a legitimate economic operator engaged in trade activities within Northern Ireland and the UK.

    • Goods Movement Information: Outline the types of goods being moved, the frequency of shipments, and the destinations of the products being traded.

    • Customs Compliance Assurance: Assure customs authorities of the business's commitment to complying with all relevant customs regulations and procedures when moving goods across borders.

    In conclusion, an EORI number is an essential requirement for businesses engaged in international trade activities, enabling customs authorities to track shipments, collect duties and taxes, and ensure regulatory compliance. Whether trading within the EU single market or beyond, having a valid EORI number is crucial for facilitating smooth trade operations and avoiding disruptions at customs checkpoints. With the proper documentation and procedures in place, businesses can obtain an EORI number and navigate the complexities of cross-border trade with confidence and efficiency.

    Simon Mang

    Digital Marketing/SEO Specialist

    Simon Mang is an SEO and Digital Marketing expert at Wordcraft Logistics. With many years of experience in the field of digital marketing, he has shaped and built strategies to effectively promote Wordcraft Logistics' online presence. With a deep understanding of the logistics industry, I have shared more than 300 specialized articles on many different topics.

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