Write short note on Standardized Pre-shipment Export Documents
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Preshipment Export documents are part of supply chain management and an important quality control method for checking the quality of goods and clients buy from suppliers. It ensures that production complies with specification of the buyer, for example test reports and packaging list.
A final random inspection checks finished products when at least 80% of an order has been produced and export packed. Samples are selected at random depending on the standards and procedures.
The pre-shipment inspection can be agreed upon between the buyer, supplier and the bank and it can be used to initiate payments for a letter of credit, it can be performed at different stages like checking the total amount and packing, controlling quality or consistency of goods, checking all the documentation or verification of compliance with the standard of the destination country.
There are two types of pre-shipment companies
Free market companies which are privately owned, selling there services to the market. Risks might be especially if it is a smaller company, that paid the company is paid by the manufacturer and working in its interest.
State owned inspection companies where only very few companies operating on the market are state owned or partly state owned. The shareholding of governmental institutions guarantees independence objectivity.
A final random inspection checks finished products when at least 80% of an order has been produced and export packed. Samples are selected at random depending on the standards and procedures.
The pre-shipment inspection can be agreed upon between the buyer, supplier and the bank and it can be used to initiate payments for a letter of credit, it can be performed at different stages like checking the total amount and packing, controlling quality or consistency of goods, checking all the documentation or verification of compliance with the standard of the destination country.
There are two types of pre-shipment companies
Free market companies which are privately owned, selling there services to the market. Risks might be especially if it is a smaller company, that paid the company is paid by the manufacturer and working in its interest.
State owned inspection companies where only very few companies operating on the market are state owned or partly state owned. The shareholding of governmental institutions guarantees independence objectivity.
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Pre shipment requires a lot of documents for example
performa invoice:
it gives the details of merchandise, the price, last date of shipment. It is sent as soon as the order is finalised.
Commercial invoice is generated which is required for shipment detailing.
Packing and weight list contains the contents of all the products.
Bill of exchange is another document required for pre shipment.It is a draft from the exporter to the importer.
performa invoice:
it gives the details of merchandise, the price, last date of shipment. It is sent as soon as the order is finalised.
Commercial invoice is generated which is required for shipment detailing.
Packing and weight list contains the contents of all the products.
Bill of exchange is another document required for pre shipment.It is a draft from the exporter to the importer.
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