SS1 Commerce Lesson Note on Documents in Foreign Trade

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DOCUMENTS IN FOREIGN TRADE

There are various documents which facilitate international trade. These documents include:

1. Consular invoice
2. Bill of lading
3. Certificate of origin
4. Shipping note
5. Airway bills
6. Indent
7. Ship manifest
8. Mate receipt
9. Freight note
10. Custom specification
11. Dock warrant
12. Dock landing account
13. Bill of sight
14. Bill of entry
15. Calling forward note
16. License
17. Export invoice
18. Ship report
19. Insurance certificate
20. Bill of exchange.

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:

1. The name of the ship carrying the goods
2. Description of the goods such as the quantity, type and weight.
3. Shippers name.
4. Names of the consignor and consignee.
5. Addresses of both consignor and consignee.
6. The port of embarking/port of loading
7. Conditions of carriage, e.g. who pays the freight charges
8. The port of disembarkation/port of unloading.
9. Location of the goods in the ship
10. The expected time of arrival.

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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