Introduction to International Trade Documentation – Part 4
The Exporter/Seller
The
exporter/seller is an individual or company engaged in the business of
manufacturing, selling, or brokering raw materials, component parts, finished
goods or services to the importer/buyer for manufacture, assembly, resale or
direct consumption.
The Importer/Buyer
The
importer/Buyer is an individual or company engage in the business of purchasing
raw materials, component parts, finished goods or services from exporter/seller
for import to a domestic market for manufacture, assembly, resale, or direct
consumption.
Freight Forwarder/Logistics Company
International
freight forwarders are in the business of moving goods from one country to
another. Logistics firms are in business of planning and controlling the flow
of raw materials, work in progress, or finished products from point of origin
to point of destination. The destinations can include a factory for further
processing, a warehouse for storage, or the market place for sale. With
significant industry consolidation in recent years almost all companies in this
field are now offering logistics services that include the services of import
custom brokerage as well. These firms are familiar with the rules and
regulations of both the country of export and the country of import. They can
also recommend appropriate packing methods and materials or arrange to have
good packed and/or containerized. They can provide pre-shipment and pre-bidding
advice on the costs of insuring, packing, and shipping goods, as well as
documentation compliance, inspection services, fees, tariffs and taxes, thus
allowing the exporter to make more accurate costing.
Custom Broker
A
custom broker is an individual or company licensed by a government authority to
act on behalf of others in customs (generally import) transactions. The customs
broker assists in all aspects of clearing imported goods through custom.
Customs broker handle issues involving entry and admissibility of goods,
classification and valuation, the payment of duties, taxes, or other charges
assessed or collected, or the refunds, rebate, or drawback. In essence, they handle
the sequence of customs formalities and other detail critical to the legal and
speedy import and export of goods.
Freight Carrier (Shipping Line/Airline/Railroad/Barge
Line/Courier)
International
freight carriers are in the business of moving cargo from one country to
another. Carriers range from huge ocean shipping lines that move ship load
quantities of crude oil or gain, to courier companies that handle small package
shipments of less than one-half kilogram (1.1 pound). It is important to
realize that some carriers are specialists in only one mode of transport. Since
international shipments often require more than one mode of transport (sea,
air, land) it may be necessary to use a shipper (or logistics firm) that can
act as a multi-modal transport operator and take responsibility for the entire shipping
process from point of origin to point of final destination.
International Bank
International
banks handle all aspects of international payments for exporters and importers,
including documentary collections and letter of credit. In the course of
fulfilling their responsibilities, international banks process checks, drafts,
credit cards, and bank wires in payment for transactions; structure documentary
collection transactions for exporters and importers; and structure documentary
letter of credit transactions for exporters and importers.
Insurance Company/Agent
Insurance
companies provide coverage by contract of indemnity or guarantee another part
against risk of loss for a stated peril, such as the risk of loss or damage to
shipments of cargo in international trade. Importers and exporters can work
directly with an insurance company or an agent. In many cases, freight
forwarders, custom brokers, shipping liners, railroads and other couriers act
as agents for insurance companies.
International Attorney
Attorney
and law firms are in the business of providing legal advice to clients.
Individual attorneys and firms have developed different areas of
specialization. Please assist to note that the role of attorneys varies greatly
from one country to one country.
Inspection Company
Inspection
companies are in the business of providing testing services for exporters,
importers, export authorities and import authorities. Inspection companies are
often licensed by government agencies or have professional affiliations with
recognized industry group. In order to protect the health, safety and economic
well-being of its citizens, many countries require inspections for products
before they may be imported. Some countries require that samples of products be
sent in advance for the full shipment for testing by laboratories within the
country of import, while others are satisfied with certificates generated in
the country of export prior to shipment.
Notary Public
Import authorities may require some documents
to be certified or notarized. Most countries have appointed or commissioned
individuals who are given authority to identify and certify the identity of
persons who sign documents with proof of their signature. There are some key
documents that certified or notarized by notaries.
Consular Official
The
consular official or office of the country of importation, located in the
country of export, is often empowered to certify certain documents or forms
required for the eventual import of goods. Some countries require that before
goods bound for their country can be admitted for import, the documents which
accompany the shipment must be certified by an official of their own consulate
or embassy residing in the country of export. The process is very similar to
that done by a notary republic.
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