Import and Export Documents
In the ever shrinking world of today there are very few businesses that do not require goods and/or services to cross national borders. It is the routine of many businesses for the import and export of goods and for others it is their lifeblood.
Even though international trade is all about the trade of goods and services you will find that the main thing that it will deal with is documents. The correct paperwork is extremely important when it comes to the operation of import and export. When it comes to international trade, documentation is vital and it is recommended that you hire someone who can deal with the mass of documentation that has to be dealt with.
Depending on the country that you are in and the country that you are dealing with the documentation required will vary. However listed below are the usual documentation that you will find is needed.
Purchase Order
Not only is a purchase order a standard requirement in business but is also possible that the buyer or seller may need this to arrange financing.
Importer – The bank may request a copy of this to issue a letter of credit
Exporter – A confirmed purchase order can enable the exporter to receive financing from the bank.
Letter of Credit
Once all the essential documentation is handed over the letter off credit is used to make payments. It essentially says that the bank of the importer is guaranteeing payment as long as all papers mentioned are in order.
Shipment Documents
As proof of dispatch an airway bill is required for goods sent via plane and for sea shipments a bill of landing is needed.
Certificates of Origin
There are countries that may have restrictions in place or tariff benefits for goods from certain supply sources. A certificate of origin is required in these cases which are sanctioned by the Chamber of Commerce or relevant regulatory authority.
Certificates of Quality or Inspection
There may be instances where the buyer requires an inspection before shipment. This document will provide the buyer with the proof of the inspection.
Packing List
This is needed to show what items/products are in the shipment.
Invoice
This is a must for any business transaction. Ensure that everything is correct and the right currency of the transaction is used.
Additional Documentation
Some countries have strict regulations on the trade of food and animal products. Permits will be required in these cases.