Discuss the important documents used in import transactions.
Discuss the important documents used in import transactions.
Following important documents are used in import transactions:
(1) Trade enquiry - A trade enquiry is a written request by an importing firm to the exporter for supply of information regarding the price and various terms and conditions on which the latter exports goods.
(2) Performa invoice - Is a document that contains details as to the quality, grade, design, size, weight price and so on, of the export product.
(3) Important order or indent - It is a document in which the importer orders for supply of requisite goods to the exporter.
(4) Letter of credit - It is document that contains a guarantee from the importer bank to the exporter is bank that it is undertaking to honour the payment up to a certain amount of the bills issued by the exporters for exports of the goods to the importer.
(5) Shipment advice—The shipment advice document is send by exporter to the importer informing him that the shipment of goods has been made.
(6) Bill of lading—Its a document prepared and signed by the master of the ship acknowledging the receipt of goods on board.
(7) Bill of entry—Is a form supplied by the customs office to the importer containing information such as name, the address of the importer, name of the ship, no. of packages, description of goods, name, the address of exporter, port of destinations, customs duty payable.
Following important documents are used in import transactions:
(1) Trade enquiry - A trade enquiry is a written request by an importing firm to the exporter for supply of information regarding the price and various terms and conditions on which the latter exports goods.
(2) Performa invoice - Is a document that contains details as to the quality, grade, design, size, weight price and so on, of the export product.
(3) Important order or indent - It is a document in which the importer orders for supply of requisite goods to the exporter.
(4) Letter of credit - It is document that contains a guarantee from the importer bank to the exporter is bank that it is undertaking to honour the payment up to a certain amount of the bills issued by the exporters for exports of the goods to the importer.
(5) Shipment advice—The shipment advice document is send by exporter to the importer informing him that the shipment of goods has been made.
(6) Bill of lading—Its a document prepared and signed by the master of the ship acknowledging the receipt of goods on board.
(7) Bill of entry—Is a form supplied by the customs office to the importer containing information such as name, the address of the importer, name of the ship, no. of packages, description of goods, name, the address of exporter, port of destinations, customs duty payable.
