Malaysian Import Export Customs Documentation - Proper preparation of customs declaration forms is highly essential. Special attention must be given to the full description, numbers, marks, packing and weight of the packages, the unit value and the total value, and the tariff classification of the goods.

Section 79 of the Customs Act 1967 requires the declaring of dutiable goods imported to give a full and true account of the number and description of packages, of the description, weight, measure or quantity, and value of all such dutiable goods and the country of origin of such goods.... Read More

Letters of Credit Collection Procedures

3. The foreign bank prepares the letter of credit and mails it to its branch or correspondent bank in the city nearest to the exporter's place of business.
# Being irrevocable, it cannot be cancelled by the foreign bank that has issued it without the consent of the beneficiary.

4. The bank branch or correspondent bank in the exporter's country (called the advising bank) informs the exporter, by means of a written advice, the details of the letter of credit and the conditions of payment.
# If it had been a confirmed letter of credit, the exporter's bank would have added its name to the obligation, thereby guaranteeing payment.

5. As soon as the exporter has shipped the goods within the time limit, specified in the letter of credit and has observed all the other conditions. # Such as shipping date, method of shipment, insurance coverage, etc., it prepares or draws in our example, a 90-day draft on the issuing bank (the foreign bank).

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