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Variations on Importing and Exporting Documents
There is hardly any business concern transacted which does not demand goods and services to cross national shores. Importing exporting activity is everyday for many businesses, and the lifeblood of others. To be sure, you have used imported stuffs in your company before, merely if this is the first time that you are imports & exports something directly yourself, the following checklist will help you.
A basic adage is that importing and exporting has next to nothing to do with goods and everything to do with documentation! It sounds wholly strange but it is true. The significant of correct paperwork cannot be overdrew properly managing imports and exports. If you are the type of businessman who just can not stand dealing with paperwork, may we suggest that you hire person who can your paper works. Importing and Exporting Documents is the cornerstone of global trade and the lifeblood of making a living from it.
There is normally some variation in the importing and exporting documentation required for trade from country to country but they are sure to include the following:
Purchase order
It seems like a business requirement but it may be needed for funding. The purchaser may need to show the order to his bank to organise a temporary loan or customs may want to see the paperwork to make sure everything is valid.
Letter of credit
This is used for making payments for imported goods, once the necessary documents are handed over (see, we told you they were important). A letter of credit basically says that the importer's bank guarantees to pay provided all the papers stipulated in it are in order.
Shipment documents
A bill of lading is needed for sea shipments or an airway bill when goods are sent by plane, as proof that the goods have been sent by the supplier.
Certificates of origin
Several countries have restrictions on the importation of goods from certain other countries, and may apply tarrifs to these goods or ban them altogether. Alternatively, there may be tariff benefits accorded to goods from specific supply sources. In such cases, an exporter will need to submit a Certificate of Origin, which is endorsed by a designated regulatory authority.
Quality or inspection certificates
If the buyer specifies an inspection prior to shipment, these are paramount to making sure the deal is confirmed.
Packing list
The list of all of the cartons within the container and the contents within.
Invoice
The most important document, make sure that a full summary of goods is outlined and it's invoiced in the currency of sale.
Others
These are specific requirements, and change from country to country. For example, Australia has stringent quarantine restrictions governing the trade of food and animal products. You would need to secure a permit, or subject your goods to an inspection or quite possibly both.
This might seem like a long list, but is in no way exhaustive. That is why you need to hire someone who understands import and export documentation, so that you can be sure that your international business proceeds smoothly.
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