Project Charter – Meaning, Importance and its Elements
What is a Project Charter ? A Project charter is a 5 to 6 page document which collects all the information that has been developed in the previous steps and puts it in a central location. The Project charter serves as the constitution which governs the working of the project and disputes if any that […]
What Caused the Global Economic Crisis ?
The previous article in the module introduced the global economic crisis with a brief overview of the causes. This article looks at the causes of the global economic crisis in depth. For starters, the global economic crisis carries a distinct “Made in the USA” tag which means that the origins of the crisis are to […]
Components of Project Management and Stakeholder Management
There are several components of project management that encompass the spectrum of project management. Right from the initial setting up of the project to the closure, each phase brings a new set of challenges and components to the art of project management. Specifically, the project manager has to manage the team and take bottom-line responsibility […]
Inventory Control – Inventory Audits and Cycle Counts
Any inventory of Raw materials, finished goods as well as Intermediate in process inventory has an economic value and is considered an asset in the books of the company. Accordingly any asset needs to be managed to ensure it is maintained properly and is stored in secure environment to avoid pilferage, loss or thefts etc. […]
The Economics of E-Waste
The modern human society is hooked on electronic devices. As a result, there is an ever-increasing stream of televisions, computer screens, mobile phones, and cameras which are being thrown out since consumers want to upgrade to a newer version. This is generating a new type of waste called e-waste or electronic waste. In this article, […]
Customs Departments are the government designated authority to implement the policies related to import and export, collect customs duties and facilitate movement of people, goods, and cargo into and out of the country.
Customs departments have offices at all seaports, airports and border gateways that are essentially the exit and entry points for people and cargo movements into and out of the country.
Customs agencies are empowered to make arrests, confiscate goods and enjoy powers similar to that of police departments.
Every country annually publishes its policy for Foreign Trade, which stipulates the conditions under which goods and services are eligible to be exported or imported. Customs departments implement the provisions of the policy under customs rules, regulations and tariffs.
Imports in many countries may be allowed freely, or some categories may be permitted with due licenses. Many items are also published as banned for import and not allowed entry into the country.
All of the items imported into the country have to be custom cleared. This applies to the items brought in as personal effects and also imported by trade and business establishments including governmental and defense agencies. Necessary stipulated duties would have to be paid before the goods are released by Customs.
Cargo imported into the country from any point of entry is warehoused at Customs bonded area under customs jurisdiction until it is released after clearance.
Freight Forwarders who coordinate the international transportation also provide customs clearance services to the clients. The activity is called customs brokerage.
Customs clearance work involves preparation and submission of documentations required to facilitate export or imports into the country, representing client during customs examination, assessment, payment of duty and co taking delivery of cargo from customs after clearance along with documents.
Some of the documents involved in customs clearance are :
Customs Agents prepare the document of Shipping Bills in the house for submission while rests of the documents are obtained from the client. Preparing shipping bill involves Classification of cargo under specific classification that is a critical activity in the entire process.
Customs clearance agents are also called Carrying and Forwarding agents. They are registered and licensed by Customs to operate. Their role is limited to acting on behalf of and representing clients as third party agencies engaged in customs clearance.
Customs Agents are linked through EDI with customs in most of the countries and use documentation software to facilitate entire process.
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