Currently, there are many business units that are asking the problem: What to do to import goods? To help you answer that question, Everlog has compiled relevant knowledge in this article. Stay tuned if you are also someone who is about to import a business shipment!
Popular import forms
There are 5 common forms of importing goods
To answer the question: What to do to import goods? You must know the 5 forms of importing goods as follows:
1. Direct import
Buyer and seller will directly sign a contract with each other. The terms and benefits in a commercial contract are mutually agreed upon by both parties. Absolutely not bound by an intermediary unit.
This is a fairly popular form because of its simple and fast method. Note, the importer needs to study the market carefully to determine the products/services to be imported. Then find the right partner, sign and execute the contract. They are also self-funded, bear all risks and costs in transactions…
2. Import entrustment – What to do to import goods?
This form not only has the participation of the buyer and the seller, but also a 3rd party (intermediary unit). This form is used when the buyer hires another unit (entrustment) to act on their behalf to import goods.
New individuals/businesses often have difficulty importing goods by themselves. This is largely due to their lack of experience and understanding of international trade. Or ineligible as a legal entity. Therefore, entrusting an intermediary unit will help to import the shipment quickly and smoothly.
It is the responsibility of the trustee to provide information about the market, prices, customers, etc. And also the conditions related to the entrusted order. Then sign the contract and carry out the import-related procedures.
Also known as barter importation, done in tandem with exports. This is also a common form in the answer What to do to import goods? This form does not use money but uses goods as a medium of exchange. Goods used for import and export have the same value
4. Temporary import for re-export
This is a form of goods brought into Vietnam but not for consumption. It is to export to a third country to make a profit. This activity includes both export and import, the purpose is to collect foreign currency.
5. Import processing
With this form, the processing party will import raw materials from the exporter for production according to the requirements of the contract between the two parties.
In terms of nature, the form of processing import and export processing is the same. The purpose is to process according to the requirements of other countries.
What to do to import goods? Avoid importing banned goods
Obviously, when preparing to import goods, you need to clearly answer the following questions. Are goods banned from import?
It is very important to learn about prohibited goods, to avoid importing prohibited items. Or not enough time to apply for a permit, not in time to announce the quality before importing the goods.
To find out specifically which items are prohibited from being imported. You must apply for a license, or must publish a specified contract. You can read Decree 187/2013/ND-CP (note the Appendices), and Circular 04/2014/TT-BTC.
After the above check step, when the item you want to import is not banned, no license is required. Or will arrange a permit shortly. At this point, you can safely take the next step of “What do I have to do to import goods?”. That is the procedure for importing goods.
What to do to import goods? Avoid importing banned goods
The process of importing goods – What to do to import goods?
1. Sign foreign trade contract
The first step is signing a purchase contract with a foreign partner. Here, the two parties will agree on the following main terms:
– Product name
- Commodity specifications
– Quantity / weight of goods
- How to pack
Some other important terms:
Delivery terms (CIF, FOB, EXW...)
Payment: term; Payment method: by wire transfer (TT) or letter of credit (L/C)…
- Documents of goods the seller must send to the buyer
2. International shipping – What to do to import goods?
At this step, the two parties will arrange to transport the goods according to the agreed conditions. The responsibilities of each party will be clearly stated in the contract.
You base on the delivery conditions to know when the goods are delivered to you. And what are your responsibilities?
– Seller: hire a shipping company (shipping line), buy insurance, bring the goods to the port of discharge.
– Buyers: do customs procedures, hire transport to pull the goods to the warehouse.
What to do to import goods?
3. Customs clearance for imported goods
For goods imported under FOB, CIF, CNF terms. Importers must go through customs procedures in Vietnam. You can do it yourself or hire a company Package customs clearance service reputation of Everlog unit.
As for conditions like DDU, DDP (or DAP). The seller will do the formalities for you and deliver the goods to your warehouse. Of course, the importer is you must provide the necessary documents for customs declaration.
What to do if you want to import goods - Prepare a set of import procedures documents
– Bill of Lading: 3 originals
– Commercial Invoice (Commercial Invoice): 3 originals
– Detailed list of goods (Packing List): 3 originals
– Certificate of Origin (CO – Certificate of Origin): can be according to form D, E, AK… Thus, it is easy to enjoy preferential import tax.
Related articles you can refer to:
- Procedures for temporary export and re-import of goods
- Criteria for evaluating a reputable LOGISTICS company
There are also some other documents such as:
- Certificate of Quality (CQ)
- Certificate of Analysis (CA)
- Insurance policy, fumigation, quarantine…
Based on the above commercial documents, you will declare import customs according to current regulations. This declaration is currently done via electronic customs software. That is, to declare and transmit data over the internet.
After transmitting the declaration by software. You need to print the declaration together with a set of paper documents to go to the customs branch (the branch managing the port of discharge or the CFS warehouse where the goods are stored). Depending on the result of transmission, the declaration is either Green Stream, Yellow Stream, or Red Stream. Your set of documents will need more or less paperwork. If you do not have experience, you should prepare sufficient documents as in the case of the Golden stream declaration.
Distinguishing flows in import customs procedures
In the case of the Golden channel, the customs dossier includes:
- Set of customs declarations & appendices (if multiple items): 01 print
- Commercial invoice: 01 copy
- Bill of lading: 01 copy
- Sea freight invoice (with FOB condition): 01 copy
- Other documents: CO, quality inspection (if any)…
You bring the dossier to the right customs branch for procedures. At the same time, do not forget to pay taxes to get customs clearance.
The next job is to go to the port to change the order and submit to the port and yard customs sign. Thus, completing the import procedures related to the customs office.
4. Customs clearance & delivery to the warehouse – What should I do to import goods?
After completing the import customs procedures. At this point, you just need to arrange a means of transport to bring the goods to your warehouse.
Imported goods are carefully checked at the customs gate
Usually, shippers can rent a container truck (full container cargo - FCL) or a small truck (for LCL odd shipments). Send them the delivery order issued by the shipping unit (shipping company or forwarding company). The garage will enter the port or CFS warehouse to complete customs procedures at the warehouse. Then pick up the goods and transport them to your destination.
Many shippers understand the question: What to do to import goods? But still apprehensive about the multi-stage import procedure. They want to find a freight forwarding company to do all the services. From sea transportation, customs procedures, land transport...
And they came Everest Logistics. A company specializing in transportation services and reputable import and export procedures.
Hope the above information has answered the question: What to do to import goods? Wish your business will have favorable shipments. And we are honored to accompany your shipments! For more information, please contact the hotline below.