CHAPTER 7
Import Documents of import documentation. For many basic transactions, import documentation is simple. Importers of non-regulated goods from many countries can present a commercial invoice, a bill of lading, and an import declaration, and they’re done. As with export documentation, each complicating factor adds another document to the process. One complicating factor adds one document, three complicating factors add three documents. The chapter structure is to start with the most basic import transaction and then to proceed to more complicated transactions with both specialized requirements and specialized documentation.
THIS CHAPTER PROVIDES A BROAD OVERVIEW
NOTES
1. Throughout this chapter we will assume that the exporter and importer have already made a contract to sell and purchase a set amount of goods. 2. Many documents required for import are also required for export formalities, shipping, and banking/payment. Details will be given step-by-step. 3. Many documents mentioned in this chapter are more fully described in other chapters in which case we give a cross reference to a specific chapter or page. Import documents are issued or secured by both the exporter, the importer (or a customs broker working for the importer) or by third parties. In each case, we will name a document, see where it comes from and offer a full description. In many cases, we’ll also give a cross reference to another chapter where a more complete description is given.
Basic Import Documentation DEFINITION
Basic import transactions are those with no complicating factors whatsoever and therefore require the most minimal documentation. In this example, documentation requirements are for import only and do not include any documentation for export from the country of origin. CONDITIONS AND ASSUMPTIONS
For a basic import transaction, all of the following terms and conditions must apply:
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A written or verbal agreement has been made between the parties specifying the product, quantity, price, delivery date, delivery method and all other conditions of sale including who will pay for shipping, insurance, duties and other costs.
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The countries of export and import have normal trade relations.
