Why Consular Invoice in International Trade?

 

 

Significance of Consular Invoice can be Summarized

 

 

 

 

Why Consular Invoice in International Tradeimportance to the Exporter

1. Once the invoice is signed by the consulate of the importing country, the exporter is reasonably assured that there are no import restrictions in the importer's country for the goods and that there would be no problem in realization of export proceeds or foreign exchange.

2. It enables prompt clearance from the customs of exporter's country for shipping the goods.

Importance to the Importer

1. In the importer's country, the customs do not normally open the packages. It helps the importer to get speedy delivery of goods.

2. Lot of unnecessary hardship which importer faces once the packages are opened avoided.

Importance to the Customs

1. The customs of the exporting country can easily clear the goods.

2. The customs of the importing country need not open the packages for checking and can easily calculate the import duties.

(iv) Legalized Invoice

Certain Latin American countries like Mexico require this. It is just like consul invoice, which requires certification from consulate or authorized mission, stationed in th exporter's country.

(v) Customs Invoice

When the commercial invoice is prepared on the format prescribed by the custom authorities of the importing country, it is called "Customs Invoice". This is the requirement of U.S.A., Canada and Australia.

 

The importance of Consular Invoice is given above. You may share below your views about significance of Consular Invoice, if you would like to share.

 

 

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