Import Export Management - Documentation Flashcard

Front

What is the primary purpose of export documentation?

Back

To ensure smooth customs clearance and compliance with international trade regulations.

Front

What are the key components of a Commercial Invoice?

Back

Item descriptions, quantities, pricing, and terms of payment and delivery.

Front

What is a Bill of Lading?

Back

A contract between the shipper and carrier outlining the terms of transportation for the cargo.

Front

What does a Certificate of Origin certify?

Back

The country of origin of the exported goods, required for customs clearance.

Front

What is the role of a Packing List in export documentation?

Back

It provides detailed information about the contents of each shipping package.

Front

What are the four categories of export documents?

Back

1. Commercial Documents 2. Regulatory Documents 3. Export Assistance Documents 4. Documents Required by Importing Countries.

Front

What is the significance of the Customs Clearance Process?

Back

It involves document submission, customs inspection, and duty calculation to ensure compliance.

Front

What are some common mistakes in preparing a Commercial Invoice?

Back

Unclear descriptions, incorrect unit of measure, and not using a currency designator.

Front

What is the difference between a Pro forma Invoice and a Commercial Invoice?

Back

A Pro forma Invoice is a preliminary bill of sale, while a Commercial Invoice is the official document required for customs clearance.

Front

What are the essential documents required for export clearance in Vietnam?

Back

Bill of Lading, Commercial Invoice, Customs Export Declaration, Packing List, Technical Standard/Health Certificate.