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DOCUMENTS IN FOREIGN TRADE
There are various documents which facilitate international trade. These documents include:
CONSULAR INVOICE: Consular invoice is the invoice that is issued by the embassy of the importing country showing the original price of the goods in the country of origin. It is issued to avoid under invoicing for correct import duties to be paid. Its main purpose it used by the custom authority to ascertain duty payable on goods, also to prevent falsification of prices of goods.
BILL OF LADING: A document that contains the detail of the goods being sent. It is the document of title to goods which are sent across two countries. It contents include:
CERTIFICATE OF ORIGIN: A document signed by a custom officer of the exporting country to show the country from which the goods originated. It serves as an instrument for preferential tariff. It also helps to determine the outflow of foreign exchange to the country of origin.
DOCK WARRANT: A receipt for goods delivered and stored in the warehouse. It entitles the holder to take possession of goods. It is also known as dock receipt. It states that goods have been kept in the ware house by the owner awaiting clearing or loading.
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