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E-mail Address: Chairperson: Rosemary Fam Managing Director: Jasmine Chin Internet Marketing Director
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Secrets of International Trade Certificate of Value Many countries require the exporter to complete and sign a Certificate of Value. In this Certificate of Value document, the exporter states that the invoice contains a true and full statement of the price paid for the goods by the importer and that there is no other arrangement between the exporter and the foreign buyer about the purchase price. The purpose is to discourage "double invoicing" - whereby the importer presents one invoice for customs duty calculation but in fact pays the exporter a larger sum based on true invoice. Cargo Manifest When quantities, weights or contents of the various packing cases in an export shipment vary, it is usual to prepare a separate list for each case indicating its contents, weight and measurements. Cargo Manifest also often includes the outside dimension of each case and the total cubic content and total weight of the shipment. Cargo Manifest are not specifically required by the Customs authorities, from various importing countries. However, they serve as useful supplements to the commercial invoice that accompanies the export shipment. Exchange Controls Some countries restrict imports by limiting the amount of "exchange", or foreign currency, available to pay for them. Often, imports are classified into essential and non-essential or luxury goods. Exchange Controls restrict the imports of luxury goods and are taxed more heavily than essential goods through the sale of foreign currency at a "free market" rate of exchange rather than at the official one. Other countries achieve the same effect by levying exchange taxes at various rates according to the priority attached to the product to be imported. |
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Home Site Contents Secrets of International Trading Contents
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