Friday, July 29

12 Commercial Documents Which Required To Do Import-Export Business

A number of documents is required to do international trade including commercial documents, transport documents, financial documents, insurance documents and other international trade related documents. In this article, I would provide you the list of 12 commercial documents that are mandatory for importing or exporting goods through domestic and international territories of any country. These import export document can really helpful to stress for exporting or importing of your products. In short, I would like to introduce names of those 12 export import documents are - Pro Forma Invoice, Sales Contract, Quotation, Inspection Certificate, Packing List, Commercial Invoice, Product Testing Certificate, Insurance Certificate, Insurance Policy, Health Certificate, Consular Invoice, ATA Carnet etc. For detail read below.

12 Required Commercial Documents to Do Import-Export Business

1.  Pro Forma Invoice: The Pro Forma Invoice is provided by the supplier prior to the shipment of merchandise, informing the buyer about the kinds & quantities of products being exporting along with their importation specifications like size & weight and value. It is prepared by exporter.

2.  Sales Contract: The Sales Contract is an agreement between the buyer and seller that stipulates every detail of transaction. It is prepared by exporter and importer both.

3.  Quotation: A Quotation is an offer to sell products. It should state clearly the quantity, details of quality & price of the products along with the delivery terms & payment terms. It is prepared by exporter.

4.  Inspection Certificate: The Inspection Certificate is issued by the independent inspection company or the exporter on the specifications of shipment including quantity, quality or price of the products, required by the certain countries or buyers. It is prepared by the Inspection Company or exporter.

5.  Packing List: Packing List consists of detailed information of packing the goods that are shipped. It is prepared by the exporter.

6.  Commercial Invoice: The Commercial Invoice is a formal demand note for the payment that is issued by the supplier to the buyer for commodities that are sold under a sales contract. It contains the details of products sold, payment terms and trade terms. It is used for the customs clearance of products and sometimes for foreign exchange purpose by the importer. It is prepared by the exporter.

7.  Product Testing Certificate: Product Testing Certificate is a document to conform a certain national or international technical standard such as safety, product quality and specifications. It is prepared by the accredited laboratories.

8.  Insurance Certificate: Insurance Certificate is issued on the shipment being insured under a given open policy. It covers loss or damage of the cargo while in transit. It is prepared by the insurer or insurance agent.

9.  Insurance Policy: Insurance Policy is a commercial document that contains the complete details of the insurance coverage. It is an evidence of insured products that are to be shipped. It is prepared by the insurer or insurance broker.

10.  Health Certificate: The Health Certificate is issued when food or agricultural products are being exported. This certifies that these products comply with the relevant legislation in the exporter’s country and were in right condition at the time of inspection, prior to shipment and fit for human consumption. It is prepared by exporter or inspection authority.

11.  Consular Invoice: The Consular Invoice is required by some foreign countries. It shows shipment information such as product description, value of products, details of consignee & consignor and so on. It is prepared by exporter.

12.  ATA Carnet: ATA Carnet is an international customs document that is used to obtain the duty-free temporary admission for products such as samples & professional equipment and exhibits for international trade fairs, into the countries that are signatories to the ATA Convention. It is prepared by exporter.

All these are commercial documents only; do follow us to know about other documents for doing international trade.

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