EXIM Custom Declaration explained. EXIM (Export-Import) Custom Declaration refers to the formal documentation required by customs authorities when goods cross international borders. It encompasses a detailed declaration submitted by exporters or importers, outlining specific information about the shipped goods in adherence to customs regulations and trade laws. How does it work? Regulatory Compliance: Exporters and…
What is it? A Certificate of Origin (COO) is an official document issued by an authorized body, verifying the country of origin of goods being exported. It attests that the goods originated from a specific country, confirming their place of production or manufacture. This certificate serves as a vital component of international trade documentation, essential…
Definition: CIP, or Carriage and Insurance Paid To, is an international trade term that outlines the responsibilities, costs, and risks associated with the delivery of goods from the seller to the buyer. CIP terms specify that the seller is responsible for arranging and paying for the carriage (transportation) and insurance of the goods to a…
Definition: DAP, or Delivered at Place, is an international trade term commonly used in shipping and logistics to specify the responsibilities and costs related to the delivery of goods from the seller to the buyer. Under DAP terms, the seller is responsible for delivering the goods to a named destination, typically the buyer’s premises or…