Common Notes In International Trade

In international trade, no matter which payment method is adopted, the seller has the responsibility to provide the buyer with the necessary documents to achieve the purpose of collecting foreign exchange through the documents. All documents must be formally signed or sealed by the issuing unit in order to become a legally effective document. So what are the common documents?

1. Bill of exchange

Bills of exchange belong to financial documents and are generally used by exporters to obtain payment from importers, requiring importers to pay a certain amount of certain currency to the bearer immediately after seeing the ticket or within a certain period. In international trade settlement, the draft issued by the exporter is called a commercial draft.

2. Commercial invoice

The commercial invoice issued by the seller to the buyer, and the shipping list used to receive payment from the buyer is also the seller's comprehensive description of a transaction. The content includes the name, specifications, price, quantity, exchange rate, packaging, etc. of the commodity. The commercial invoice is the core of the full set of documents, and the rest of the documents need to be referenced to it, so it is also called the central document.

3. Sea bill of lading (B / L)

A sea bill of lading is a cargo receipt issued to the shipper by the ship or its agent when it receives the goods it carries, and it is also a contract of carriage between the carrier and the shipper, which has the effect of a property certificate in law. The consignee must submit the original bill of lading when picking up the goods at the port of destination. The sea bill of lading is a document of property rights, which can be transferred with the transfer of property rights.

4. Insurance Policy

An insurance policy is a formal insurance contract, except that the name of the insured person (insured), the name, quantity or weight of the insured goods (subject matter), marks, means of transportation, place of origin of insurance, and type of insurance, insurance amount, time limit and other items, it also lists the insurer's liability scope and the insurer's respective rights and obligations in detail. The insurance policy, like the indicative ocean bill of lading, can also be transferred by the insured endorsement with the transfer of property rights.

5. Customs invoice

The customs invoice is a special format invoice filled out by the exporter according to the customs of the importing country. Its role is: for importers to rely on customs to go through customs declaration, tax payment and other procedures; the customs of the importing country checks the sales price of the goods in the market of the exporting country according to the customs invoice, and determines whether the exporting country dumps at a low price; Check the value and origin of imported commodities, determine the levy of tariffs at different rates, and implement a differential tax rate policy; The customs of the importing country is used to calculate the import tax payable by the importer.

6. Certificate of origin

The certificate of origin, abbreviated as origin certificate, is a kind of document certifying the origin or manufacture of goods. It has the following functions: First, the importing country determines the tax rate that should be imposed on imported goods based on the certificate of origin; Second, the importing country uses the certificate of origin to prove the source of the goods, control or allocate their import quotas; the third is to prove that the goods are produced at the place of production designated by the importer.

7. Packaging documents

Packaging documents refer to all documents that record or describe the packaging of goods. The vast majority of exported commodities must be properly packed before they can be shipped for export to protect the integrity of the commodities concerned. There are many types of packing documents, common ones are: packing list, packing instructions, detailed packing list, packing summary, etc.

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