You have started an export business in Australia and are ready to ship the first consignment. The shipping documents for export are among the many preparations that you would need to take care of. To avoid the usual mistakes, to get these documents prepared on time and to make the best out of the very first batch, here are some expert tips to comply with.
Find out about the Free Trade Agreements that Australia and its trade partner countries adhere to. The products you wish to export to a particular country may feature in the category that calls for trade fee exemptions or discounts under these FTAs, provided you have the required documents like the Certificate of Origin.
Letter of Credit
Letter of Credit documents are crucial to get paid for the exported consignments. In order to get these documents right, you must be familiar with the right formats and also select the bank carefully. Don’t forget to incorporate all the costs that should contribute towards the sale price. Most importantly, there should be compliance between the data included in the letter of credit and other trade documents.
The different countries have strict prohibitions and restrictions on the import of different types of products. For example, in order to import live animals into Hong Kong, the permit must be obtained from the Agriculture, Fisheries and Conservation Department of the country. For this, you need to communicate with the importer to fulfil the exact requirements of the shipping documents.
Australian customs too impose prohibitions and restrictions on different export categories and you must comply with them to avoid penalties. For example, to export wine from Australia, you must obtain permit from Wine Australia. Another example is that of endangered animals for which the permits must be obtained from the Ministry for the Environment and Energy.
You must spend the right amount of time and research to know about each of these requirements. In addition, taking help of documentation experts and tools can significantly reduce errors in the international shipping documents.