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8/16/2019 Custome Clearance Procedure of Siemens
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GROUP MEMBERS1. M.OVAIS.SIDDIQUI (31492)2. M.UMAIR IQBAL (26509)3. HUMAYOAN MUSTAQEEM (27576)
4. ALI ASGHAR 5. REHAN6. ALI7. HASNAIN U!ER
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Company, we visited ..
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"USTOM"LEAREN"ECustoms clearance work involves: • #$%&'$' *+ '+, - / -- *+ * ,* %+ ' *+- $% $%, *
' ' % % &*$ *$ &*$ - + * % * + $ .
• R%&$%-%+ +8 %+ , $ +8 - * - % ' +' *+ '--%-- %+ &' %+ * , '+, * ': +8 ,% ;%$ * '$8* $* - * -' %$ %'$'+ % ' *+8 < ,* %+ -.
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D* %+ - +;* ;%, +
" - * - %'$'+ % '$%Exports Documentation:
• Purchase order from Buyer• Sales Invoice• Packing List• Shipping ill• Bill of Lading or air way ill• Certi!cate of "rigin• #ny other speci!c documentation as speci!ed
y the uyer, or as re$uired y !nancialinstitutions or LC terms or as per importingcountry regulations.
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"ONTINUE=
Imports Documentation: • Purchase "rder from Buyer• Sales Invoice of supplier• Bill of %ntry• Bill of Lading or #ir way ill &'#(B)*#(B+• Packing List• Certi!cate of "rigin• #ny other speci!c documentation re$uired y
the uyer, or !nancial institution or theimporting country regulation.
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orm
of -oods
eclaration
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8/16/2019 Custome Clearance Procedure of Siemens
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8/16/2019 Custome Clearance Procedure of Siemens
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• Su mission o! "ocuments• Remittance telex• Pa#ment "one
Checklist of Documents for Import:
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LETTER O> "REDIT (L")
/. Inland LC & which is used within thecountry +
0. Sight LC & Credit limit not availa le +1. 2sance LC & Credit limit availa le +
Letter of Credit is an undertaking issued y a Bank &IssuingBank+, on ehalf of the uyer &the importer+, to the seller&e3porter+ to pay for goods and services provided that the sellerpresents documents which comply with the terms and conditionsof the Letter of Credit
T &%- O L"
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T % D* %+ '$ S' % < ' L% %$ * "$%,
//
Exporter$Bene%ciar#
&seller'
Importer(ccount Part#
&Bu#er'
Issuin) Bank ("visin)*Con%rmin)*or
+e)otiatin) Banks
Sales Contract
CI, Port o! DestinationC(D Irrevoca le -OC
(
(. Sales contract calls !or -OCB. (pplication !or -OC
B
C
C
C. -OC !orwar"e" to ene%ciar# t/rou)/ a"visin) ank
D
D. Documents prepare" accor"in) to -OC 00 )oo"s s/ippe"
E
EE
E. Documents ne)otiate" !or pa#ment a)ainst si)/t "ra!t t/rou)/ ne)otiatin) orcon%rmin) ank
,
,. Pa#ment a!ter "ocuments c/ecke" !or "iscrepencies
,,
S1IP $ 2ESSE-
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,O--O3I+G ( -E44ERO,CREDI4 4R(+S(C4IO+
Bu#er5s (pplication an" Contract wit/ t/eIssuin) Bank.
• It is up to the uyer to apply for a letter of creditfrom a ank.
• L"C contains instructions, terms, and condition torelease the money.
• Buyer4s application for credit is a contract etweenthe uyer and the ank.
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,O--O3I+G ( -E44ERO,CREDI4 4R(+S(C4IO+
Seller5s Compliance wit/ t/e -etter o!Cre"it.
• Seller must read the terms and conditions of the L"Cvery carefully efore shipment or manufacturing ofproduct.
• Is the L"C accurate5 oes it re6ect the terms and
conditions of the sales contract5
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,O--O3I+G ( -E44ERO,CREDI4 4R(+S(C4IO+
Compl#in) Presentation : "eliver# o! seller5s"ocuments an" "ra!t to t/e nominate" ank or "irectl# to
t/e issuin) ank. Contains:
• #ll the re$uired documents,• (ithin the time frame allowed and prior to e3piry of the
credit,•
(ith no discrepancies, and• (hich complies with all other terms of the L"C.
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,O--O3I+G ( -E44ERO,CREDI4 4R(+S(C4IO+
• %3amination of ocuments and iscrepancies.2CP allows up to !ve anking days to inspect.
• Commercial Invoice7 re$uired y uyers, anks, andcustoms authorities.
• Bill of Lading7 must e 8on oard.9• Insurance Policy &plus /:;+.• Certi!cates of #nalysis or Inspection.
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