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For any business transaction to be legal, approval from the concerned authorities is a must. Any official work pertaining to the import or export should be thorough and up to the mark with the submission of all the necessary documents.
According to the countries involved in the import/export, the following documents may be generally needed.
• Letter of credit. For easy payments for goods that have to be imported, letter of credit is a prime requirement
• Purchase order. To arrange for finances, a purchase order has to be presented by the buyer or seller.
• Certificates of origin. Because the transaction is regulated and only certain volume of business can be done between two countries, the exporter has to produce a certificate of origin, which is endorsed by the Chamber of Commerce or a qualified regulatory authority.
• Shipment documents. To keep a proof of the dispatch of goods, a bill of lading is needed for sea shipments. Airway bill has to be obtained if the goods are being dispatched by plane.
• Quality or inspection certificates. Before shipment, the buyer expects inspection of the goods transported. Quality or inspection certificates hold the evidence that the goods had been meticulously checked before dispatch.
• Invoice. All billing details including the currency used in the transaction should be mentioned clearly in the invoice for future use, in case of any payment issues. • Packing list. The contents of the goods shipped or transported by plane should be mentioned in a properly maintained packing list.
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