types of documents - international business
DESCRIPTION
Types of documents used in import and export..TRANSCRIPT
WELCOME
Types of documents Characteristics of documents Conclusion References
CONTENTS
PROFOMA INVOICE INVOICE PACKING LIST/PACKING SPECIALISATION CERTIFICATE OF ORIGIN SHIPPING BILL ARE 1 MATE’S RECEIPTS BILL OF LADING AIRWAY BILL
TYPES OF DOCUMENTS
BILL OF EXCHANGE BILL OF ENTRY
PROFOMA INVOICE as the name suggest is a profoma of invoice prepared by the exporter and sent to the importer for necessary acceptance.
PROFOMA INVOICE
It forms the basis of all trade transactions.
It may be useful for the importer in obtaining import license of foreign exchange.
CHARACTERISTICS
INVOICE is a fundamental and basic document . This invoice is normally prepared first and several other documents are prepared by deriving information from this invoice.
INVOICE
It is a basic document useful in preparation of various other shipping documents.
It is used in various export formalities such as quality and pre -shipment inspection, excise & customs procedures etc.
It is also useful in negotiation of documents for collection and claim of incentives.
It is useful for accounting purposes to both exporters as well as importers.
CHARACTERISTICS
PACKING LIST is a consolidated statement in a prescribed format detailing how goods are packed.
PACKING LIST
It is a very useful document for customs at the time of examination.
It does not indicate unit rate and value of goods.
It indicate details like measurement and weight of goods.
CHARACTERISTICS
CERTIFICATE OF ORIGIN indicates that the goods which are being exported are manufactured in the specific country mentioned therein.
CERTIFICATE OF ORIGIN
It is to be submitted to the customs for the assessment of duty and clearance of goods with concessional duty.
It is required when the goods produced in a particular country are banned for import in the foreign market.
It helps the buyer in adhering to the import regulations of the country.
CHARACTERISTICS
SHIPPING BILL is the main customs document required by the customs authority for granting permission for the shipment of goods.
SHIPPING BILL
The cargo is moved inside the dock only after the shipping bill is duly stamped.
It is normally prepared in five copies.
CHARACTERISTICS
ARE 1 is in application for removal of excisable goods from the factory premises for export purpose.
ARE 1(Application for Removal of Excisable goods)
MATES RECEIPT is a receipt issued by the commanding officer of the ship when the cargo is loaded on the ship . The mates receipts is a prima facie evidence which shows that the goods are loaded in the vessel.
MATE’S RECEIPT
It is an acknowledgement of goods received for export on board the ship.
It enables the exporters to clear port trust dues to the port trust authorities.
Bill of lading , which is a title of goods, is prepared on the basis of MATES RECEIPTS.
It is a transferable document . It must be handed over to the shipping company in order to get IN ORDER TO GET THE BILL OF LADING.
CHARACTERISTICS
BILL OF LADING is a document issued by the shipping company or its agent. It acknowledges the receipt of goods mentioned in the bill for shipment on board of the vessel.
BILL OF LADING
It is a contract between the shipper & the shipping company for the carriage of goods to the port of destination.
It is useful for claiming incentives offered by the government to exporters.
The exporter can claim damages from the shipping company if the goods are lost or damaged.
CHARACTERISTICS
BILL OF ENTRY is a document prepared by the importer or his clearing agent in the prescribed form under Bill of Entry Regulations 1971 , on the strength on which clearance of import goods can be made.
when goods are imported in a particular country the importer has to pay the necessary import duty. For this purpose necessary information about the goods imported must be given to the customs authority in a prescribed form called “BILL OF ENTRY FORM”.
BILL OF ENTRY
AIRWAY BILL is a document issued by the airlines company or its agent for carriage of goods .
AIRWAY BILL
It acts as a customs declaration form.
It is the document of instructions for the airline handling staff.
It is a contract between the airlines or his agent to carry goods to the destination.
CHARACTERISTICS
CONCLUSION …
INTERNATIONAL BUSINESS Justin PaulEXPORT IMPORT PROCEDURES &
DOCUMENTATION Dr Khushpat s Jain INTERNATIONAL BUSINESS P. Subba Rao
REFERENCES
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