Import Export Business Required Documents

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This knowledge and training I got to learn when I was International Sales Manager of a reputable cctv company in the Philippines.

There's a saying that import and export business has nothing much to do with the products as compared with import/export documentations. Correct paperworks play huge roles and cannot be underplayed in accurately organizing your very own import and export business. At first, don't worry you don't have to do everything appoint someone knowledgeable in this area who can assist you in import and export documentations, he or she needs to have import export credentials for your company to have good reputation for your global trading. Later on, as the company grows with you, you need to learn about these things to do it on your own.

From country to country there are little variation in essential import export documentations and are sure to include the following:

1. Letter of Credit - Application letter for making payments for imported items, once the required papers are turned over. It mainly states that importer's bank guarantees payment provided the entire import export documentations specified in it are in order.

2. Purchase Order - A trade requirement mainly for financing purposes. You as a buyer/importer needs to prove the order to your bank first to organize a provisional loan or this is to prove to the Customs that the entire thing is legitimate and true.

3. Certificates of Origin - Differing countries have different limitations on the entrance of new commodities from other countries, and may apply duties to these commodities or ban them altogether. We're looking at tax benefits on the other hand, on specified items from specific supply sources. In such cases, the Exporter will require from the Importer this certificate which is certified by importer's country's designated regulatory authority.

4. Bill of Lading - When commodities are sent via sea route, a required shpment documentations for sea consignments are presented as further proof that commodities are sent by the supplier.

5. Airway Bill - This is same with bill of lading except this is documents when products are delivered via air shipment.

6. Inspection or Quality credential - Vital documents required by Importers getting an examination of goods prior shipment, making sure that deal is established in accordance to the buyer's requirement.

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

8. Invoice - this essential document will outline the complete synopsis of merchandise and is invoiced in the currency of sale.

9. Others - Detailed documents requirements from country to country. For example, Australia has strict quarantine limitations governing trade of animal and food items, be sure to know these and secure a permit or subject your animal and food items to an inspection and quarantine requirement.

This should not be taken lightly hence the reason to hire staff under you that knows such things and are already experienced with years to save you in future heartbreaks and huge money losses.

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