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What is Trade Consulting?

When it comes to international business, it’s important to have the right assistance to ensure everything goes right. The smallest mistake or missed detail can result in delayed shipments, and in some cases, hefty monetary penalties.

Trade consultants offer services to assist managing the complexities of international or overseas trade on behalf of their clients. A trade consultant helps their client get all the answers they need regarding their upcoming shipment. They help their clients navigate the complicated world of imports and export trade compliance, and ensure their clients are compliant with local rules and regulations every step of the way. 

What services do trade consultants provide?

Trade consultants can provide a variety of services. They’re dedicated to assisting their clients  in order to put processes into place, which ultimately allows goods to move quickly and compliantly once they get to the freight forwarder.

Trade consultants can provide some of the following services:

Duty and tax recovery

Trade consultants help their clients make monetary recoveries from spending on international trade. With their industry experience and expertise in customs and taxes, trade consultants ensure your business recoups all possible duties and taxes. Some duty and tax recovery services include duty recovery and drawbacks, duty deferral assistance, and the identification of duty refund opportunities. 

Compliance consulting

Trade consultants can help their clients mitigate risk and liability and ensure their client’s business is compliant with all aspects along the supply chain. In some cases, good trade consultants conduct compliance audit reviews prior to the shipment to ensure the actual shipment maintains compliance. With your business’s reputation on the line, trade consultants help you maintain trade compliance programs, meet audit requirements, and recover duties and taxes. 

Supply chain security

Securing your position in supply chain security programs is important. Trade consultants can help you assess your security, identify gaps and improvements, and validate your supply chain partners. 

Licensing assistance

Having to draft licenses and agreements can be a big headache when you’re busy running a business. Trade consultants use their industry knowledge and expertise to help businesses save time when it comes to identifying the license they need for their export. Trade consultants can help you determine if a license is required and help you obtain a license on your behalf. 

Education and support

Some trade consultants develop and teach technical programs specific to their client’s needs and products. Trade consultants may also provide representation and guidance with voluntary audits or other actions if the government finds you in violation of any area of trade compliance.

Are freight forwarders and trade consultants the same?

Though the roles of freight forwarders and trade consultants sometimes get interchanged, they are different. A trade consultant’s role is to assist a business in navigating through the complex world of import and export compliance, whereas a freight forwarder is a business that organizes shipments to ensure the movement of goods across international borders. Freight forwarders offer document preparation, ocean or air transportation, negotiating freight rates, and more.

The bottom line

Trade consultants are there to support your business should any issues arise. Working with a trade consultant can help you reduce risk and free up resources. Curious about Welke’s other services? Check out all of our services here.

Categories: Global Trade