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7 Major Documents required for import clearance under high sea sale
Let me list out major requirements of documents under high sea sale.
High Sea Sale Agreement
A High Sea Sale Agreement entered between high sea buyer and high sea sellerbefore arriving cargo at territorial jurisdiction of importing country. Means, the high sea sale agreement must be dated before arrival of goods at a territorial border of an importing country. What is Territorial Border of a country? I have written a detailed article in this web blog about on this subject about ‘meaning of imports and exports’, ‘territorial border’ etc. You can go through the same to have a clear idea
Sale Invoice/ Commercial Invoice.
Commercial invoice / Sale invoice is another document required for import customs clearance procedures under High Sea Sale business. Such commercial invoice under high sea sale must be in local currency of importing country, and not in foreign currency. The details of goods sold with rate and total invoice value is mentioned in such commercial invoice under High Sea Sale.
Consignee Copy of Bill of Lading
A consignee copy of Bill of Lading has to be enclosed along with other importing documents under High Sea Sale. As bill of lading is a document of Title, such bill of lading copy has to be endorsed in favor of high sea buyer by transferring title of goods to him.
Import Invoice
Another required document for import customs clearance at importing country is Import Invoice. You may get confused with Import Invoice and Sale Invoice. Import Invoice under High Sea Sale means, the invoice
Originally issued by first seller under High Sea Sale. As I have explained in my other articles in same website, High Sea Sale transaction could be effected more than two times. So, the import invoice issued by first seller to first buyer is needed as one of the requirements of documents under High Sea Sale. Kindly note, this import invoice must be endorsed by high sea seller in favor of high sea buyer.
Import Packing List
Import Packing List is another document required for import customs clearance under High Sea Sale. Import packing list is the packing list originally issued by first seller. Such packing list needs to be endorsed by high sea seller in favor of High Sea buyer.
Certificate of Origin
Certificate of Origin of goods is another document required for import customs clearance procedures and formalities under High Sea Sale. Such Certificate origin also required to be endorsed by high sea seller in favor of High sea buyer under High Sea Sales.
Insurance Certificate
The insurance certificate is one of the 7 major documents required by importing country under high sea sales. This insurance certificate also required to be duly endorsed by high sea seller in favor of High Sea Buyer in favor of High Sea Buyer under High Sea Sales.
You may click here to read other articles about High Sea Sales :A simple tutorial on high sea sale procedures and formalities in India How to hide invoice value of original contract under high sea sale transactions, Can high sea sales possible under air shipment?, Can high sea sale be effected more than two times?, Is sales tax applicable on shipments effected under high sea sales? How to check the time of contract on high sea sale transaction? Documentation procedures on high sea sale. Yes, I am sure, once after going through that articles you will have a good knowledge about High Sea Sales under International business.
I hope, I could explain about major documents required for import customs clearance procedures at importing country under High Sea Sales.
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The above information is a part of Import Export Training online
Other post about import export cauching
How to hide invoice value of original contract under high sea sale transactions
Can high sea sales possible under air shipment
Is sales tax applicable on shipments effected under high sea sales
How to check the time of contract on high sea sale transaction.
Documentation procedures on high sea sale.
Can high sea sale effect more than two times.
How IGM is filed under high sea sale
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