EXPORT AND IMPORT CONSIGNMENT

1. What is an import and export trust?

       Import and export trust is no longer something new in Vietnam in recent years, it is one of the steps to promote goods trade between countries in the region as well as around the world.

       Entrusted import and export is a commercial service activity in the form of hiring and accepting import and export service for this activity, which is carried out on the basis of an export or import consignment contract between enterprises, suitable to provisions of the economic contract ordinance.

       Entrusted import is a form of having a third party (the consignee) import goods (goods) to their company (trustee).

       Entrusted export is thanks to a third party who is in charge of all exporting goods to foreign partners.

2. The role of the import-export trust company.

Enterprises (traders) of Vietnam can import and export without depending on the registered business lines (According to the provisions of Article 3 of Decree 187/2013). If all businesses are able to do it themselves, why do they need a trusteeship service company?

Enterprises do not (or do not) have experience in international trade to be able to conduct the import of goods themselves, they always face difficulties: human resources are not familiar with import and export, or do not know how to communicate. , negotiate with leading foreign sellers, leading to low efficiency, time consuming. When used through an experienced service provider, it is a safe solution, at least for the first batch.

Individuals do not have legal status, so they cannot sign contracts with foreign business partners. At that time, if you want to import goods, you can sign a trust contract with the import-export service company to perform the import.

Thus, in other words, the company entrusted import and export solved the problem of procedures, time, and brought advantages when importing and exporting goods.

3. Things to note about import and export trust

Steps to perform entrusted import and export:

Check whether the goods are banned from import or temporarily suspended from import. If this is the case, then do not have to take the authorization to do anything, your goods are not allowed to be imported into Vietnam.

Is the goods required to apply for a license? If so, the authorized or authorized company must apply for this license. This should arrange as soon as possible, do not let the goods arrived at the new port, it is too late.

When a set of documents of goods is available, the trustee shall carry out import customs procedures according to current regulations.

Responsibilities of trustees

Negotiate and sign foreign trade contracts with foreign sellers

Doing the necessary procedures to import goods

Pay money to foreign sellers

Declaring and paying taxes: import duties, VAT ... for imported goods

Store import and export documents: contracts, commercial invoices, packing slip, etc.

Return the imported goods to the consignor, together with the VAT invoice for the imported goods (besides the VAT invoice for the import consignment service charge.

The responsibility of the trustee

Provide full information about the type of product, model, specifications ... to the consignee ordering.

Coordinate with the trustee to negotiate contracts with foreign partners

Transfer money to the trustee to pay the seller

Collaborating to receive cargo (for example, with a cargo inspector at a port)

Pay the trust service fee