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Clearing Customs and Cargo Release

Clearing Customs and Cargo Release According to veteran traders, correct paperwork plays a huge role in successful importing and cannot be taken lightly or you’ll spend a lot of

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Eman khaled

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Nov 2015

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01-12-2015, 06:28 PM

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01-12-2015, 06:28 PM

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Clearing Customs and Cargo Release

clearing customs and cargo Release

According to veteran traders, correct paperwork plays a huge role in successful importing and cannot be taken lightly or you’ll spend a lot of time and money undoing the mess you’ve made.

Paperwork

There’s not much variation from country to country in terms of the documentation that you will need when you import goods.

Letter of Credit – This letter comes from your bank and states that they will guarantee payment provided the entire required documents (usually specified in the letter) are in order. If you do not use a letter of credit, you may have to provide your credit card information or make some other payment arrangement so that your goods will be released to you once they have cleared customs.
Purchase Order – Use the purchase order (received from the supplier) to arrange bank financing or to demonstrate to Customs that your order is what you say it is.

Certificates of Origin – The certificate of origin is a document that verifies the country from which you have imported the merchandise. It is used by customs to assess tariffs (which can be based on originating country), limit quantities in the case where there are restrictions on the amount of a product that can come into a country (often applies to textiles) and prompt inspections of goods.

Bill of Lading – The bill of lading is a description of the purchase and the shipping contents; applies to shipments by sea.

Airway Bill - Same as bill of lading; used for delivery by air.

Inspection Report – If you have paid for an inspection of goods before they left the originating country to be sure that you are getting what you ordered, the inspection report will be included.

Packing List - List of all the cardboard boxes contained in the container and the contents lists inside the boxes.

Invoice - Complete summary of merchandise along with price in the currency of sale.

GOOD INFO: World Trade Ref now contains tables of import and export document requirements for the top 50 trading nations. World Trade Ref now has the ability to translate 3,127 trade related terms from and to 8 different languages: Chinese, English, French, German, Italian, Japanese, Portuguese, and Spanish. www.worldtraderef.com

Your customs broker or shipping agent will handle paperwork for you. They will use the Customs Automated Commercial System (ACS), which electronically receives and processes entry documentation and provides Cargo disposition information. The system reduces clearance time from days to hours or even minutes. Customs brokers use the Automated Broker Interface (ABI) in combination with ACS to process your merchandise.