Necessary Documents for Import and Export

The import and export industry is not just an evergreen, but an ever-growing one. With several newer modes of transport and logistics, there’s been an exponential rise in the number of imports and exports, internationally. So, when we talk about international trade, there are several aspects and intricate processes that one comes across. And, failure to comply with certain regulations can lead to major problems. One such significant part of the process is the documentation. Everything we know about export and import is based on the documents. 

So, we shall take a look at a few most significant documents when it comes to import and export:

Necessary documents for export

1. Bill of lading

For smooth transportation, the bill of lading must be signed by the importer, exporter and the shipping line. The exporter must obtain the correct Bill of lading from the freight forwarding company or the shipping line and send it to the importer. Bill of lading is a legal document that consists of details such as the quantity, type and the weight of the goods and even the terms of the sale. 

2. Shipping bill

Shipping bill is yet another significant and legal document that is submitted by the exporter for the customs clearance. It is an intimation to the customs that the exporter has availed of certain government incentives like refunds on various taxes or benefits under some government schemes.

Necessary documents for import

1. Bill of entry

One of the most significant and must-have documents during import is the bill of entry. This is a declaratory document that allows the customs authorities to clear the goods at the port of entry during import to the United States. The bill of entry essentially comprises details such as the type of cargo, value and quantity of the goods. This information is then tallied with the sales invoice.

2. Commercial invoice cum package list

The commercial invoice is another customs document that is used as a customs declaration. Both the importer as well as the exporter need this document for customs clearance. 

3. Bill of lading 

While the bill of lading is important during export, it is a necessary document during the import as well. The importer cannot receive the goods at his end unless the exporter sends this bill of lading to the importer. 

Hence, these are a few documents that play a vital role in the customs process.