All you want to know about custom clearing agents in Lahore
You need the services of custom clearing agent if your business is engaged with import and exports. He basically does approval, custom clearance and coordination with other regulatory authorizes that is done by custom clearing agent. Every exporter and importer needs to know basics of import and expert policies and other condition that is applicable for specific types of import and exports. The custom clearing agent knows about all working of custom law and they also ensure compliance speed in a manner that import consignment is cleared with the allotted time period.
The process of custom clearance
When the consignment is arrived the custom clearing agent carries out the physical inspection and estimate of the import. They evaluate import by determining the correct description of items. They classify the items under relevant custom chapter and tariffs. They determine that there is no case of under invoicing and they need to pay custom duty. The custom clearing agent advice the importer regarding necessary custom duty payments. They deliver the consignment to the importer with the original documents. The air shipments are given 3 days for clearance and shipment by sea are given 7 days. The importer cleared the consignment of importer within this time period and demurrage will be charged if fail to do on actual delivery time so custom clearing agent must be efficient to do his job well.
Role of custom clearing agent
- They determine the correct tariff and custom duties of each good head.
- They calculate the VAT payable and import taxes and duties
- They must need to have knowledge of software need for entry of shipment and other details that are needed by government system portals.
- The labor and equipment should be available at right time. They must arrange labor force for offloading and loading of goods at right time because these activities are also observed by custom personnel’s.
- They need to write reports to their supervisors regarding the clearance and delivery of the goods.
- They prepare and submit the documentation to the authorities for clearance of goods.
- They assist the clearing instruction and make sure that information provided by shipper and consignee is correct before submitting it for custom clearance.
- They frame the bill of entry that is submitted through electronic data interchange to customs.
- They collect payment from the shipper for VAT duties and taxes so they can pass to custom authorities.
- They arrange the custom clearance and release the requirement that need to fulfilled before a release.
The clearing agent has to submit the documentation to regulatory authorities for specific Food items like tobacco and alcoholic drinks. So these food items are usually inspected by officers before they are imported. the things that does meet the requirement are send back.
After the clearances the shipment will be released to the consignee by various procedures that also need to be followed by various modes of transports that are air less, t container load, full container load and road freight.
In last few decades the trend of clearing agent has been enhanced. Businesses are still handling their own good clearance but when you hired the third party to handle clearing activities they are helping you to focus on core business. They complete all the formalities on your behalf or consignee at the destination port. They are usually registered with local port, government agency and custom authorities within the area of operation. Usually there are set regulatory requirement for every custom clearing agent like there are certain rules and regulation of trade.
As from discussion it is quite clear that clearing agent tasks involved regulation of country’s government and specialized task. As they have specific skill and knowledge about the local laws and custom formalities so they handle thing on your behalf.
Documents need by clearing agent for clearance of goods
For smooth delivery of cargo from the port there are certain important document they are prepared and handled by custom clearing agent that are Bill of entry and lading, Packing list of goods, Certificate of origin , commercial invoice, import license of consignees, letter of credit and insurance certificate.
Bill of Entry and landing-It is prepared by the agent and submitted to custom authority before the arrival of cargo on port they make sure that correct description is provided for each good under correct classification. The bill of landing will be provided by ocean carrier as a proof of receipt of cargo from shipper. There is title on cargo the name and address of consignee and consignor and notify party.
Packing list- it is similar to commercial invoice. It will contain complete detail of the products
Certificate of issuance – it is issued by chamber of commerce of the country where originally the product belongs
Commercial invoice- is submitted by the clearing agent for clearing of your goods
Import License of Consignee- it is given by the government authorities to the consignee for importing of specified good in a country.
Insurance certificates- during the transit of cargo good are ensured for calamities and accidents.
Letter of credit- when trading is done the bill of landing contains the name of beneficiary and clearing agent.
Conclusion
You need the services of custom clearing agent if your business is engaged with import and exports. He basically does approval, custom clearance and coordination with other regulatory authorizes that is done by custom clearing agent. They evaluate import by determining the correct description of items. They classify the items under relevant custom chapter and tariffs. In this article we discussed about the responsibilities of custom clearing agent and document needed for custom clearing. If you are searching for the best custom clearing agent within Lahore then you have come to right place. We have updated the best custom clearing agent list for you. Just send message to multiple custom clearing agents and get relevant information.
