Customs Clearance And Delivery
The commercial invoice is issued by the products vendor to the customer. It’s a legal document that acts as documentation of the two parties’ agreement to buy anything. The commercial invoice is used by the customs broker to identify the real worth of the products and calculate the tariffs and taxes owed when importing. On business invoices, customs agents search for the following information:
Date and invoice number
Prices, quantities, descriptions, and HS codes of the objects being offered, as well as seller and buyer information (incl. their tax identification numbers).
Accepted Incoterms are a set of rules that govern how contracts are made.
Pro forma invoices (preliminary invoices) may be accepted by customs officials in some countries to assess import duties and taxes. Other nations may demand a separate customs invoice, which contains the same information as a commercial invoice but is formatted in a certain way. In any event, the customs broker can help you figure out what kind of invoice you’ll need to clear your cargo.
The packing list contains all information regarding the contents of a cargo and is crucial to the shipping process. Freight forwarders require the data to arrange a booking with a carrier and issue the bill of lading, in addition to being used by the customs broker for clearance. The following are some of the details that are commonly seen in packing lists:
The vendor, the buyer, and the shipper’s information
Number of the invoice
Date of delivery
The carrier’s information
The products’ description
Package Types (e.g., box, crate, drum, or carton)
the quantity of
Net and gross weights totaled
Marks on packages (e.g., container and seal numbers)
The nation of origin of a material or a product is declared on the certificate of origin. The paper usually includes details on the item, its intended destination, and its country of origin. Some nations need it in all cases, while others just require it for particular items. The certificate of origin is used to assess if your goods are acceptable for import, if they are subject to tariffs, and if they are eligible for any special treatment.
A certificate of origin does not have a set format. The paperwork is usually prepared by the exporter or the manufacturer. It may be necessary to obtain formal certification from a third party, such as a chamber of commerce.
A letter of credit is an assurance from a bank that the seller will be paid on time and for the proper amount. In the event that the buyer is unable to pay, the bank will be forced to cover the entire or remaining balance of the transaction, thereby safeguarding the seller.
While letters of credit are still extensively utilised, there are other payment options:
Payment in advance – Prior to the delivery of the products, the exporter will receive payment through wire transfer or credit card.
Open account – The items are sent and delivered before payment is due, which is favourable for purchasers but can be risky for shippers.
Documentary collection — On behalf of the shipper, a bank in the importer’s nation will collect payment for the products.
A bill of lading is a legally binding document that a shipper receives from a carrier. It contains information on the items being transported, such as their type, amount, and destination. The bill of lading acts as a contract between the shipper and the freight carrier. It’s a title document that may be transferred by endorsement. This paperwork must always accompany the sent products, regardless of the manner of delivery. When commodities are delivered by sea, the term “bill of lading” is commonly used. The phrase “airway bill” is more commonly used for air freight. Both texts have the same goal in mind. When you use a freight forwarder like FRS to convey your cargo, they will provide a bill of lading or an airway bill to you.
Customs officials may ask for additional documentation to complete the process.
Import and export licenses
Dangerous goods declarations
How can we help you?
Contact us at the Consulting office nearest to you or submit a business inquiry online.