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1993 1994 1995 1996 1997 1998 1999
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Malaysian Import Export Customs Documentation Summary of Customs Control in relation to the clearance of goods. Application of customs control in relation to the clearance of goods is required under the Malaysian customs laws and regulations are as follows: Directing all trading activities to prescribe points of entry such as customs ports, airports, customs entry points and customs stations. Prescribing legal landing places for ports or entry points for the purpose of landing and loading of goods for import and export. Any landing or loading undertaken in other than these landing places are deemed to be illegal and would be considered as smuggling...Read More |
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Letters of Credit Payment cannot be assured merely by using a documentary draft. Although the exporter may have shipped the goods as specified in the export sales agreement. The foreign importer, perhaps having changed its mind or its financial circumstances, may not pay for the goods when the documents are presented or when the time draft, even though previously accepted, falls due for payment. Consequently, to be on the safe side, the exporter may require a bank letter of credit, as well as a draft. A letter of credit - A letter of credit is a document issued by a bank at the request of the importer. Whereby the bank agrees to accept and/or pay drafts drawn upon it by the exporter so long as the conditions set out in the letter of credit (e.g., latest shipping date, no partial shipments etc.) are complied with.- To learn the Secrets of International Trade - Click Here |
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