Now that you have successfully spread your wings abroad, it is time to sort out the Export Documentation process. One of the most exhaustive process, one error in documentation can cause you a lot. Therefore, it is of critical importance to be aware of the nitty gritty of each document, their function and the procedure associated with filing them.
Some of the major Export documents every Exporter should have an eye for are:
- Commercial Invoice
The commercial invoice for shipping is the single document that describes the entire export transaction from start to finish including the shipping terms. It is one of the most critical documents as it provides all crucial information regarding the transaction. Many states require specific invoices or license and any error may lead to a severe penalty. It is the primary document used by customs officials worldwide for commodity control and valuation.
- Proforma Invoice
The document issued at the beginning of the trade by the exporter is known as the Proforma Invoice. It details the entire transaction and is the commitment of the exporter to sell certain goods at a specific price mandated by certain specific terms.
- Bill of Lading
The first common document used in international shipment issued by the carrier of goods to the shipper detailing what goods are being shipped, their destination, quantity, etc. It works as the receipt of freight services once the shipment is picked up.
- Detailed Packing List
Detailed packing list includes details about the contents of the shipment viz container numbers, seal numbers, gross weight, net weight, etc. It is required to ascertain how much cargo is required towards shipment of the package.
- Certificate of Origin
The Certificate of Origin is an important trade document prepared by the manufacturer and certified by the Government that the goods in a particular export shipment are wholly obtained, processed or manufactured in a particular country.
- Beneficiary Certificate
Prepared by the seller Beneficiary document confirms in writing that beneficiary has performed a particular action. It is prepared by the exporter on the request of the buyer or importer.
- Bank Covering Letter
The Covering letter to a bank is a form of a declaration from exporter for collection/purchase/negotiation of documents.
- Inspection Certificate
These inspections are done for industrial equipment and perishable products and certify that a product was in good condition during the inspection.
- Certificate of No Permanent Establishment
It is a declaration given by a exporter or company that it does not wholly or partly carry on business in a particular country.
- Insurance Certificate
For the export shipments, it certifies that insurance has been bought for a shipment of cargo to keep it safe during transportation. It is generally purchased because the loss of certain goods may lead to huge losses for the exporter.
If export documentation is a huge headache for your business, you can check us out at https://www.exportdocguru.com/. ExportDocGuru - An Export Documentation Software integrated with FACT ERP .NG automates the entire documentation process and eliminates errors usually associated with documentation. To see how we can transform your Exports business, request for a Product Demo at firstname.lastname@example.org.