01 Sep Key Documentation for International Trade
When importing or exporting, the right paperwork is crucial. Missing or inaccurate documents can increase risks, lead to delays and extra costs, or even prevent a deal from being completed.
Whether you are importing or exporting, you need to understand what paperwork is required. Even if you use a freight forwarder or an agent, it’s still up to you to make sure the right documentation is available.
This guide explains the key documentation you should be aware of. It outlines what should be in your contracts and what paperwork you need for customs, transport and payment.
Key documentation for international trade
Making sure you have the right documentation is a vital part of international trade. Thorough, accurate paperwork minimises the risk of problems and delays.
- There should be a clear written contract between buyer and seller, including details of exactly where goods will be delivered
- Specific documents may be needed to get the goods through customs and to work out the right duty and tax charges. There may be requirements both for the country the goods are being exported from and the country they are being imported into
- Documentation is needed to cover the transport of the goods and insurance during the journey
- The right paperwork can be an important part of the payment mechanism
It’s important to co-operate with your counterpart on getting the paperwork right. For example, if you’re shipping goods to a customer overseas, they should tell you what paperwork they require at their end. If you are dealing with a non-English speaking country, it can be a good idea to provide one set of commercial documents in the local language.
You may want to get help with handling paperwork. If so let us know at Logicom Hub we can assist pointing you in the right direction.
However, you should remember that you are ultimately responsible for making sure you have the correct documentation.