There is practically nothing that doesn't move between and across borders these days with the entire world engaged in the import export business including automobiles, clothing, electronic products, and books. The import and export business is a reason for living for some and routine for many others. You business has probably already used import and exports methods before, but there are some things that are very that you need to pay attention to as far as organizing your documentation.
There is an old saying that the import and export business has more to do with the documentation than it does with the products. Although this may sound strange but it is absolutely true. When you are managing an import export business, it is very important to organize the documentation properly. You should employ a person who can organize the documentation properly if you can't stand to deal with it. The documentation is the lifeblood of making a living from the import export business and is the cornerstone of international trade.
Usually, there are some variations in the type of documentation that is required for trade from one country to another, but they will all to include some common documentation. Here are the documents to manage an import export business.
? The Invoice: This is one of your most important documents. You should ensure that a full summary of the products are invoiced and outlined in the currency of sale.
? The Packing list: The list of all of the cartons that are on the inside of the containers and the contents that is in them.
? The Inspection or Quality Certificates: These are very important to ensure that the deal is confirmed should the purchaser specify an inspection before the shipment.
? The Certificates of Origin: There are many countries that have some restrictions on the importation of products from certain other countries, and they might either ban these products altogether or apply tariffs to them. In the alternative, there might be a benefit to tariff depending on the products from certain supply sources. When this is the case, the exporter will have to submit a Certificate of Origin, which will be endorsed by a designated regulatory authority.
? The Shipment Documents: This is a bill of lading that is required for an airway bill when the products are sent by aircraft or sea shipments as proof that the products have been sent by the supplier.
? The Letter of Credit: This is what is used to make payments for the products that are imported. After the necessary documentation is handed over a letter of credit that basically states that the bank of the importer will guarantee to pay if all of the documentation that is stipulated in it is in order.
? The Purchase Order: This might be required for financing rather than being a business requirement. Customs might want to see the purchase order to ensure that everything is valid or the buyer might have to show the order for his bank to arrange a temporary loan.
? All Others Documentation: These are specific requirements that change from one country to another. For instance, Australia has strict restrictions of quarantine that govern the trade of animal and food products. You would have to submit your products to an inspection or have to secure a permit, or very possibly both.
Although this isn't an exhaustive list, it may seem long. That is the reason that it is so important to employ a person who understands exactly what they are doing with documentation when you are starting an import export business. You will save yourself a lot of disappointment and a considerable amount of money by doing so.
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