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.
The term refers to the entire fee that government official's levy from all shippers who deal in the export and import of commodities at the port. It is one of the principal sources of government revenue that brings in billions of dollars to any organized states. It also serves the purpose of limiting the chances of having illegal commodities from other countries finding a way into your jurisdictions.
There are a few documents that a shipper needs to present to receive clearance for their goods at the port. The most common report required by authorities is the bill of lading. This one is made available by the shipping entity to act as confirmation to the operators that the commodities have been received on time and is ready to be posted to their intended destination.
Another standard documentation needed at the point of entry is the packaging slip otherwise known as packing slip. The attachment is made on the consignment at a portion that is visible to the customs brokers. It provides more information that might not have been captured by the bill of lading. It is meant to satisfy all the parties such as government officials, the transit agencies about the contents of the shipment.
Though this type of freight documentation is standard for all consignments, there is a slight difference in requirements between exporters and importers. If you are the latter, then you will have to furnish the customs broker with a purchase order, a sales invoice as well as a certificate to indicate the exact origin of the shipment. In some cases, more clearance documents may be requested depending on the nature of your consignment.
If you are in the business of imports, then it will be mandatory to present a sales invoice from your overseas supplier, purchase order from the buyer and a certificate of origin indicating the source location of the commodities. Bill of lading or otherwise known as air waybill, packaging lists and the bill of shipping is standard for all import transactions. Additional requirements may be needed by the regulatory agencies if further clarification is necessary.
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.
As a shipper, you will incur costs known as freight charges. Storage and warehousing fees are part of these costs. These expenses accumulate over time as your commodities are held in store to facilitate clearance. It should be your priority to minimize holding time of the shipment to limit the total cost.
The term refers to the entire fee that government official's levy from all shippers who deal in the export and import of commodities at the port. It is one of the principal sources of government revenue that brings in billions of dollars to any organized states. It also serves the purpose of limiting the chances of having illegal commodities from other countries finding a way into your jurisdictions.
There are a few documents that a shipper needs to present to receive clearance for their goods at the port. The most common report required by authorities is the bill of lading. This one is made available by the shipping entity to act as confirmation to the operators that the commodities have been received on time and is ready to be posted to their intended destination.
Another standard documentation needed at the point of entry is the packaging slip otherwise known as packing slip. The attachment is made on the consignment at a portion that is visible to the customs brokers. It provides more information that might not have been captured by the bill of lading. It is meant to satisfy all the parties such as government officials, the transit agencies about the contents of the shipment.
Though this type of freight documentation is standard for all consignments, there is a slight difference in requirements between exporters and importers. If you are the latter, then you will have to furnish the customs broker with a purchase order, a sales invoice as well as a certificate to indicate the exact origin of the shipment. In some cases, more clearance documents may be requested depending on the nature of your consignment.
If you are in the business of imports, then it will be mandatory to present a sales invoice from your overseas supplier, purchase order from the buyer and a certificate of origin indicating the source location of the commodities. Bill of lading or otherwise known as air waybill, packaging lists and the bill of shipping is standard for all import transactions. Additional requirements may be needed by the regulatory agencies if further clarification is necessary.
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.
As a shipper, you will incur costs known as freight charges. Storage and warehousing fees are part of these costs. These expenses accumulate over time as your commodities are held in store to facilitate clearance. It should be your priority to minimize holding time of the shipment to limit the total cost.
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