Custom Procedure

Customs Procedure for Clearance of Imported and Export Goods

Comments

Post a Comment

Popular posts from this blog

Sales contract & commercial documents

Sales Contract  & Related Documents International Sales Contract  Two important Governing Entities  ´ The  United Nations Convention on Contracts for the International Sale of Goods  (CISG) is the main convention for international sale of goods. Established by UNCITRAL (United Nations Commission on International Trade Law). ´ The Convention governs the conclusion of the sale contract and buyer & seller obligations, including respective remedies . In other words, UNCITRAL main business is Harmonization and modernization of rules on international business International Sales Contract-How it works?? ´ Technically, a contract is not required for two or more parties to do business  in international trade. ´ The preferred method is to have written and signed agreements  entered into by authorized parties that demonstrate offer, Acceptance and Consideration ´ Business transaction can be conducted without a written contract ,...
Read more
Bill Of Lading - Types — Following  types of B/L are discussed in detail: — Ocean Bill of Lading(B/L) — Express Release (Seaway Bill) Bill of Lading(B/L) — Memo Bill of Lading(B/L) — Straight Bill of Lading(B/L) — Original Bill of Lading(B /L)     Switch Bill of Lading (B/L) Ocean Bill Of Lading — Ocean Bill of Lading  : is  issued by the carrier to their customer after the payment of all charges and submission of all customs/port documents relevant to that country. Note:  a)   An Ocean Bill of Lading is a  Negotiable  document which   serves also   as an  Evidence of Contract of Carriage ,  Receipt of   Goods  and  Document of Title .             b) Usually issued as 3 originals (signed and stamped and negotiable) + 6   non-negotiable copies.. — To Order of a customer — To Order of a Bank — To Order of Shipper (...
Read more

Types of Letter Of Credit

TYPES OF LETTER OF                 CREDIT v Revocable and Irrevocable Letter of Credit v Sight LC and Time / Usance LC v Red Clause Letter of Credit v Revolving Credit v Transferable letters of credit v Back-to-back letters of credit v  Standby letter of credit (SLOC) • Revocable and Irrevocable Letter of Credit • A  revocable letter of credit  can be changed or cancelled by the bank that issued it at any time and for any reason.  • An  irrevocable letter of credit  cannot be changed or cancelled unless everyone involved agrees.  • Irrevocable  letters of credit provide more security than  revocable  ones. An  unconfirmed irrevocable letter of credit   provides a commitment by the issuing bank to pay, accept, or negotiate a  letter of credit . An advising bank forwards the letter of credit  to the beneficiary without responsibility...
Read more