In previous article named ‘How to Find Reliable Chinese Socks Suppliers’, we introduced how to select a suitable sock supplier for you. In this article, we will continue to explain to you what specific operations are to be carried out when you decide to enter into a transaction with the supplier?
The sock supplier will provide the invoice and packing list for you to confirm the most basic goods information. The following 11 elements are required: product name, model, quantity, unit price, total price, net weight, gross weight, number of pieces, country of production, packaging method, and transaction method.
A. Product name is the name of the product;
B. The model refers to the actual model of the goods, not the model of the outer package in theory, unless the physical object and the outer package are the same. If there are two models, choose one;
C. The goods with different names, models, countries of production, prices and weights cannot be combined, but must be separated item by item;
D. Unit price refers to the customs clearance price, which is also the purchase price, not the sales price;
E. Net weight, subdivided into each product, cannot be combined;
F. Number of packages refers to the number of packages of goods;
G. Packaging means that the goods are packed in cartons, iron boxes or wooden cases;
H. There are many transaction methods and price terms, including EXW , FOB, CIF, etc. The customs system only recognizes two methods of declaration: CIF price, and FOB price. The FOB price also needs to add the freight, insurance premium (which can be converted by 0.3% of the value of goods) and miscellaneous fees from the port of shipment to the destination to form the CIF price; It should be noted that DDP, CIP, etc. include CIF prices, such as USD100 (DDP), and the customs clearance price is USD100 (CIF), without additional freight, premium, miscellaneous charges, etc;
Contracts, invoices and packing lists are required for import and export customs declaration of socks.The contents on the invoice and packing list must include the 11 elements mentioned above.
including basic elements such as company name and address of both parties, signing date, contract number, product name, quantity, unit price, total price, country of origin, transaction method, etc
including the name, address, contact information, product name, model, quantity, unit price, total price and transaction method of the consignee and consignor, which is basically the same as the contract
C. Packing list
including the name, address, contact information, product name, model, quantity, number of pieces, country of production, net weight, gross weight, and packing method of the consignee or consignor;
Customs declaration process
1. After the ship arrives, take the bill of lading from the sock supplier, go to the shipping company to change the bill of lading, and exchange it for the bill of lading of this batch of goods, that is, the manifest, which contains the detailed shipping information of your company’s imported goods.
2. For the imported goods that need to be inspected in advance, they should also go to the Commodity Inspection Bureau for commodity inspection. In fact, the document replacement and commodity inspection should be carried out in advance. If the imported goods do not need to be inspected, they will not need to be inspected. In fact, the goods you import do not need to be inspected. You can ask your freight forwarder to check it for you, or you can check it yourself through the commodity code book.
3. After the exchange of documents, if commodity inspection is required, fill in the import declaration form and submit it to the freight forwarder for customs declaration. The materials used for customs declaration are: invoice, packing list, bill of lading returned from the shipping company, letter of authorization for customs declaration, declaration form for imported goods, and commodity inspection certificate if commodity inspection is required.
4. Pay the import tariff, and write a check after the customs prints the payment certificate. Generally, the customs duties on imported goods are paid by cheque. After paying the tariff, the bank will stamp the bank’s seal on the payment slip for you.
5. Give the letter of payment to the freight forwarder, who will then give it to the customs for clearance. This is the general term “secondary release”.
6. After receiving the tariff, the customs will stamp the customs release seal on the bill of lading and take the bill of lading to the dock where the shipping company is located to pick up the goods.
If you have any questions about the specific import operation, please dare to consult us.WIN@TEX has more than ten years of experience in exporting socks. Our friendly and knowledgeable team will also be on hand to answer any questions and offer any advice you may need.