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The Harmonized Commodity Description & Coding System (HS) is a unique product classification system formulated and maintained by the World Customs Organization (WCO). Nearly all countries which are engaged in cross-border trade use HS coding to track trading volumes, calculate customs tariffs, fix import-export quotas on a specific class of goods and compile economic statistics for analyses.
The HS code is a six-digit number which is uniform across all countries which follow the WCO convention. At a country level, additional characters may be added to the code, in order to meet local classification requirements. In Canada, customs tariffs are determined on the basis of a ten-digit commodity code, the first 6 digits are the universal HS code and the last 4 digits are used to collect data based on Canadian domestic requirements.
Goods traded between countries are grouped into 5,000 categories and sub-categories under the harmonized system of classification. The use of uniform codes helps in maintaining accurate trade statistics and calculation of tariffs payable as customs duties, at national and international levels.
O2I provides a bespoke outsourcing services package, designed specifically to meet the data entry and documentation requirements of Canadian customs brokerage companies. The correct HS coding for each shipment of goods is included as part of the services package we offer.
Given the importance of accurate HS classification of goods using the correct category and sub-category classifications, O2I uses a blend of significant domain experience and cutting-edge technology infrastructure at its disposal, to deliver the benefits of accurate HS classification and coding services to its customers in the Canadian customs brokerage industry.
"FindmyHS" is a proprietary software application developed in-house, which ensures that the right HS code is identified, irrespective of any kind of description provided for shipments of goods. While the present version of FindmyHS is designed for HS classification under the Canadian system, it can be easily adapted for use in other countries as well.
The benefits of using O2I for outsourcing your customs brokerage documentation activities are manifold. Here are just a few:
Look no further than O2I for worry-free, affordable and accurate customs documentation services including HS classification, among other critical form building services.