How the Internet is Democratizing the World and Contributing to a Powershift
Empowering Individuals through Knowledge at the Click of a Mouse In the current information age, knowledge is power and whoever has the most knowledge about the world succeeds in the cutthroat world of business and life. Knowledge can be about anything starting with information about pricing and arbitrage and including contracting terms and conditions and […]
What is Scatter Plot ?
A scatter plot is a graphical tool. It has been designed to ensure that it provides a convenient view of the process to the manager at a single glance. The scatter plot studies the correlation between the important variables. When it studies the correlation between two variables, it is called a bivariate scatter plot. When […]
Different Types of Data Sampling Techniques
The method which is adopted to collect the sample obviously has large implications on the conclusions drawn from that sample. Mentioned below are the techniques which can be used for sampling populations as well as processes. A brief detail has been given so that you can understand the pros, cons and correct usages of each […]
Challenges Faced in Conducting Voice of Customer Exercise
The Voice of Customer may sound like a simple exercise. However it would be safe to say that reading at the literature makes it look deceptively simple. Anyone who has an experience with market research will understand the issues involved. For a Six Sigma project to be successful, the Voice Of Customer must be accurate. […]
Employee Portal for Human Resource
Introduction Information systems have revolutionized the way businesses get conducted. It facilitates automation across departments. Information systems are getting actively used by human-resource team. Most of Human-Resource activities are done through online or web-based portals. This web based portal help employee or HR team member access data from anywhere in the world or from remote […]
In effecting Imports as well as Exports, documentation plays a very important role. Especially in case of imports, the availability of right documents, the correctness of the information available in the documents as well as the timeliness in submitting the documents and filing the necessary applications for the Customs Clearance determines the efficiency of the Customs Clearance process. Any delay in filing or non availability of documents can delay the process and thereby importer stands not only to incur demurrage on the imported cargo but also stand to loose business opportunities.
Customs Clearance process requires set of documents to be submitted by the Importer, By the airline, shipping line or concerned Freight Forwarder as well as the Customs documentation prepared and submitted by Clearing Agent on behalf of the Importer.
Some of the documents required from Importer from his end are:
Customs valuation is based on the value reflected on the Commercial Invoice. Customs also verifies the rates charged in the commercial invoice and can question the rates applied incase it has sufficient cause to believe that the rates charged as not as per international market rates or the invoice is under valued to avoid duties.
Packing List is used to identify the parcels as belonging to the particular consignment under the said Invoice.
Certificate of Origin also helps to avoid third party countries from routing imports through member countries and effecting third party exports to avoid duty, quantity or license restrictions.
Air way Bill is the negotiable transport document issued by an Airline or a Freight Forwarder who consolidates the airfreight cargo.
In case of Road Carriage, the Transporter issues a negotiate Way Bill covering the shipment.
Depending upon the mode of transport, one of these documents would be required to be submitted along with the commercial invoice and packing list to the Customs for clearance.
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