Frequently Asked Questions
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IOR stands for Importer of Record. This entity is legally responsible for complying with import regulations, handling required documentation, and bearing legal responsibilities for goods brought into a particular country. The IOR helps streamline the customs clearance process for companies involved in global trade.
EOR stands for Exporter of Record. This entity manages compliance with export regulations, handles necessary documentation, and assumes legal liabilities for goods being exported. The Exporter of Record plays a crucial role in ensuring a lawful and efficient international shipping process.
DDP stands for Delivered Duty Paid. It is an Incoterm indicating that the seller is responsible for delivering goods to the buyer’s location, covering all costs, including duties, taxes, and customs clearance. DDP ensures a seamless transaction for the buyer, with all expenses prepaid by the seller.
Delivered duty paid (DDP) shipping is a delivery arrangement where the seller assumes all transportation risks and responsibilities until the goods reach the buyer.
RMA stands for Return Merchandise Authorization. It is a process that allows customers to request returns for purchased items. RMA ensures a systematic and authorized way for businesses to manage product returns, exchanges, or repairs.
The RMA process involves obtaining authorization before returning a product, ensuring that returns are managed efficiently and by established procedures. It typically includes submitting a request, receiving an RMA number, shipping the product back, and receiving a resolution, such as a refund, replacement, or repair.
Indirect distribution is a business strategy where products or services pass through intermediaries before reaching the end consumer. These intermediaries, such as wholesalers, retailers, and agents, play a pivotal role in the distribution process, adding value and facilitating efficient product flow from the manufacturer to the final customer.
The difference between indirect and direct distribution lies in the path products take to reach the end consumer. Direct distribution involves selling products directly from the manufacturer to the consumer without intermediaries. In contrast, indirect distribution utilizes intermediaries, such as wholesalers and retailers, to facilitate the movement of products from the manufacturer to the consumer.