If you are in the business of exporting or importing goods and other tangible items from overseas countries, then you must be familiar with the term custom freight. This is one of the ways the government applies to collects revenue to finance its projects to benefit the citizens of a particular country. This article is meant to provide a clear explanation of what the term means and how it applies to inter-country trade.
Customs duty is a form of tax that is applied to good and services at the port to ensure that the tax on them is paid for before they leave or enter a country. Goods whose freight is not accounted for are at risk of being frozen at the port until the custom obligations are met. Each country will have laid down regulations and procedures about how the collection exercise is to be carried out.
Now that we know that the term refers to, the next step is to know what documents you need to present to the clearance authorities at the port. The bill of lading is one piece of documentation that any shipper is required to provide at the point of entry. It contains basic information about the consignment as well as the destination of the goods. The shipper provides it to the carrier.
The packing slip is another requirement that you need to be aware of. This one provides a more detailed explanation on what exactly is in the consignment, the quantities and the mode of packaging. It is usually in the form of an attachment that should be easily noticeable by the inspectors. It is meant to assure both the government and the transport agents that the goods fit the description on the bill of lading.
However, despite both exports and imports sharing essential documentation, there is unique requirement for each exercise. Exporters are required to provide other clearance such as the purchase order form the buyers, a sales invoice, and a certificate of origin clearly indicating the source of the items as well as other necessary documents that may be requested by the customs authorities.
Importers also need to comply with the laid down inspection procedures. Like exporters hey have to provide purchase order as well as certificates of origin and sales invoice. Air lading bills, as well as packing lists, come standard in all import consignments. All this is done to prevent illegal practices such as dumping of goods.
Each state has a way in which they conduct their customs clearance process; it is advisable that you familiarize yourself with the regulations that apply in your country. The experts who assist in this field are known as customs brokers. They have in-depth knowledge and skills the area of customs brokerage and clearance.
The entire process will involve a few costs to ensure your commodities are handles in the right way. Warehousing cost is necessary since your good will are received and stored in this chambers awaiting clearance. Custom prices and freight costs will vary depending on the type of goods you have and the duration your package spends at the port.
Customs duty is a form of tax that is applied to good and services at the port to ensure that the tax on them is paid for before they leave or enter a country. Goods whose freight is not accounted for are at risk of being frozen at the port until the custom obligations are met. Each country will have laid down regulations and procedures about how the collection exercise is to be carried out.
Now that we know that the term refers to, the next step is to know what documents you need to present to the clearance authorities at the port. The bill of lading is one piece of documentation that any shipper is required to provide at the point of entry. It contains basic information about the consignment as well as the destination of the goods. The shipper provides it to the carrier.
The packing slip is another requirement that you need to be aware of. This one provides a more detailed explanation on what exactly is in the consignment, the quantities and the mode of packaging. It is usually in the form of an attachment that should be easily noticeable by the inspectors. It is meant to assure both the government and the transport agents that the goods fit the description on the bill of lading.
However, despite both exports and imports sharing essential documentation, there is unique requirement for each exercise. Exporters are required to provide other clearance such as the purchase order form the buyers, a sales invoice, and a certificate of origin clearly indicating the source of the items as well as other necessary documents that may be requested by the customs authorities.
Importers also need to comply with the laid down inspection procedures. Like exporters hey have to provide purchase order as well as certificates of origin and sales invoice. Air lading bills, as well as packing lists, come standard in all import consignments. All this is done to prevent illegal practices such as dumping of goods.
Each state has a way in which they conduct their customs clearance process; it is advisable that you familiarize yourself with the regulations that apply in your country. The experts who assist in this field are known as customs brokers. They have in-depth knowledge and skills the area of customs brokerage and clearance.
The entire process will involve a few costs to ensure your commodities are handles in the right way. Warehousing cost is necessary since your good will are received and stored in this chambers awaiting clearance. Custom prices and freight costs will vary depending on the type of goods you have and the duration your package spends at the port.
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