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Custom Clearance is the process of passing goods through customs so they can enter or leave a country during exports or imports. This involves submitting necessary documentation, such as invoices, bills of lading, and certificates of origin, and paying any applicable duties, taxes, and fees. Efficient custom clearance ensures that goods comply with regulatory requirements and can move smoothly through borders without unnecessary delays.
Customs Entry is the process of declaring imported goods to customs authorities to ensure compliance with import regulations. It involves submitting necessary documentation, such as the invoice and bill of lading, paying applicable duties and taxes, and obtaining clearance for the goods to enter the country legally and efficiently. This
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A Customs Invoice is a document provided by the exporter detailing the value, quantity, and nature of goods being shipped. It is used by customs authorities to assess duties and taxes, ensuring the accurate declaration of imported goods and compliance with import regulations. This document facilitates the customs clearance process
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DAP (Delivered at Place) is an Incoterm where the seller delivers the goods to a named place of destination, ready for unloading. The seller assumes all risks and costs up to that point, including transportation and export duties. The buyer is responsible for unloading, import duties, and any further transportation
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DDP (Delivered Duty Paid) is an Incoterm where the seller assumes all responsibilities, costs, and risks associated with delivering the goods to the buyer’s specified location, including import duties and taxes. The seller handles all logistics, making DDP the most seller-responsible term, whereas the buyer simply receives the goods
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DPU (Delivered at Place Unloaded) is an Incoterm where the seller delivers the goods, unloaded, at a named place of destination. The seller bears all risks and costs associated with transportation and unloading at the destination. The buyer is responsible for import duties, taxes, and any further transportation to the
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Duty Drawback is a refund of customs duties, taxes, and fees paid on imported goods that are subsequently exported. This incentive encourages exports by reducing the overall cost of production. Exporters can claim duty drawback after fulfilling specific documentation and procedural requirements, ensuring compliance with export regulations and promoting cost-efficient
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