How to use the HS code Businesses are encouraged to indicate the HS code in their shipping documents to ensure a uniform mode of clearance every time. There are thousands of different HS codes, but each commodity is further dissected into very specific descriptions. In the example shown belo...
What is an HS code? Harmonized System (HS) codes are a unique identifier to classify the exact type of goods you are shipping. HS codes were created by the World Customs Organization, and are internationally recognized in almost every country. As customs and government bodies now have a com...
The WCO updates its HS code system every five years. The purpose of this is to adapt to the evolving needs of the global trade environment. In January 2022, the WCO published the 7th edition of the HS, with slightamendments to the HS code rules. The speed of uptake between countries has...
Getting HS codes right will prevent these consequences from being levied by US Customs. Use the correct code. Choose the code that is most correct, rather than the code that has the lowest tariff rate. As a rule of thumb, use the code that describes your goods in its condition as ...
BoL, BL or B/L, is a legal document that provides multiple functions to make shipping more secure. Letters of Credit A payment instrument where the issuing bank guarantees payment to the seller on behalf of the buyer, provided the seller meets the specified terms and conditions. Stock Finance...
DDP & DDU Shipping Terms Explained What is HS Code? What is Tare Weight of a Container? What is Freight Collect in Shipping? What is Drayage in Shipping? About Author Hari Menon is a Freelance writer with close to 20 years of professional experience in Logistics, Warehousing, Supply chain,...
While the people are starting to resume a normal life and offices are now open, in terms of the supply chain it can be best summed up as “Everything is happening at once” according to Jarrod Ward, a supply chain executive from Yusen Logistics based in Shanghai. ...
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00.00. One of export documents send to italy bank he refused to accept the same against above reason. In LC insurance clause is saying that shipment advice must be sent with original shipping document. We send the correct amount shipment to beneficiary Bank after twenty days but he against ...
What is Ex-factory terms in Imports and Exports Comments drakshayini:On 15 July 2017 We need to Import Soil Samples from Bangladesh to Bangalore to carry out Laboratory Testing. Can we get assistance to Import. RAJU:On 09 October 2017 ...