Discuss about the Export And Import Of Widgets Galore Products From Australia To Germany.
The import process is a cumbersome and company’s such as widgets Galore should follow the following process when importing. For any company it is vital that they know how to carry out importation and have a good understanding of the importation and exportation process to avoid numerous charges when the right process is not followed and also ensure that the goods arive or reach their destination on time and in the correct manner(Cypher and Dietz, 2009).
Step 1: Contact Supplier
The supplier must be reliable, responsible and above all comply with delivery times, under the quality established or agreed in the contract. There must be constant communication during the import process.
Step 2: Competent Entity Issuer of the Permits, Sanitary Registries, records of permits correspond the merchandise and according to each competent entity must obtain documents that must be presented between them we have: Form for registration. Affidavit of the veracity of the information provided to the corresponding Entity. User Manual of the product to be registered. Catalogs / Brochures of the products to be registered(Cypher and Dietz, 2009).
Step 3: The charge agent is the person trained by the competent authority both in the country of origin and in the country of destination to organize shipments (freight), consolidate and deconsolidate goods. This agent can be contacted by both the Exporter and the Importer after coordination to organize the shipment indicating costs based on the number of packages, volume or weight of the goods up to port arrival point. Once the shipment has been established, the cargo agent will send you a copy of the B / L or AWB to carry out cargo tracking. The original documents are sent with the cargo or Courier. Once the cargo arrives, they notify you by sending you an arrival notice. They indicate to you in which warehouse your cargo will load.
Step 4: Temporary Storage It is advisable to carry out a preliminary inspection in order to verify the state of the cargo arrived. For which it is presented: Copy of AWB or B / L Copy of flyer Copy of DNI and / or Dispatcher’s meat Letter Notarially legalized power (If there was a legal representative) Note: The previous capacity is requested by electronic mail to the warehouse. Step 5: The Customs Agent is given the respective documents to generate the DUA or DS for listing: Commercial invoice. B / L or AWB endorsed by legal representative. Insurance policy or non-insurance letter.. It is advisable to deliver a catalog of the merchandise to the specialist of customs in the physical capacity to familiarize and identify the merchandise. In the physical examination can be present the office assistant and a representative of the company.It awaits the release authorized by the customs to withdraw the merchandise(Laliwala, Mansuri and Wishkerman, n.d.).
Step 6: Withdrawal of the cargo Once the lift is given, the days of storage are canceled for the time our merchandise remained. The following documents are presented:
When importing goods, Widget Galore needs to assess the suitability of the transportation mode. The following are the factors that influence the decision on the mode of transportation during importation.
The import process has got many challenges, costs and regulations that Widget Galore has got to be aware of to offer their customers the best prices and quality goods. The following is the full import process that is relevant to the scenario of Widget Galore(Laliwala, Mansuri and Wishkerman, n.d.).
The first step is making sure that they are aware of government regulations and importing laws. There are a number of regulations that the company needs to follow before it begins the importation process as all imports must follow the regulations of the government. The import rules can be found from the Department of immigration and border protection. This department is responsible for clearing of goods through imports.
The second step is to find out if there is a specific permit that the company should get in order to get their goods from Germany. There is no requirement for individual or business to have an overall license to import goods into Australia. However, the company may required to have some permits when importing certain goods through customs. The goods that Widget Galore is importing is not are not restricted from imports(How to prepare and process export and import documents, 2005).
The third step in Australia’s importation process is learning if the goods being imported will need to be quarantined. Luckily for the goods of Widget Galore the goods being imported are not biological hence they won’t be quarantined. The fourth step is paying all the relevant taxes and tariffs such as import processing charges and entry cost, excise duty, custom duty e.t.c.
The fifth step is understanding the charges for import duty and goods and services sales tax. Valuation of the goods, the custom fee of $200AUD for processing your goods. However, this charges can be influenced by FTA ( Free Trade Agreements). The next step for the company is making sure that company takes advantage of any concessions when importing the goods(Export-import bank, 2004). The final step in this process is making sure that the goods being imported are labeled correctly in so that there may be no confusion when they arrive at the border or at the airport.
There are various risks associated with the import export business. Judging from a list of major projects of investment that are import related, the risks involved are subject to important potential losses in the future(Export-import bank, 2004). The risks in this case may include government political risks and financial pressures that face the economy and the company. Although generally very good political environments, Australia as well as Germany may see many internal political bickering that may influence the process of importation and exportation.
Most governments believe that a lot of risks are limited to potential savings in the macroeconomic environment and the potential is small for mitigation. The strengthening of the company control structures in the import process will reduce risks that are associated with the import process(Cook, Alston and Raia, 2012).
For reasons like this, assessment of risk should estimate the damage that the project may suffer or in the estimation of benefits and costs of mitigations. With this information, the company may compare the mitigation costs with the value of any possible losses in the case of risks.
Other risk assessment modes include time and the mode of transport in the import export process. The most appropriate method of transport is usually the most convenient and cost efficient for Widget galore.
There are many more additional risks which include the vulnerability of the products generated by the products and the physical structures. The company should also look at the effective cost adopting measures of mitigating.
Assessment and recommendation on the viability of large scale importation of the new component
Discuss and outline the full process involved in the export of “Widgets galore” products to Germany.
It is a sale that is carried out beyond the tariff boundaries in which the company is located. Export is to sell and only to sell. The same technology used for sale must be used for export. Before a certain export the entrepreneur must take into account all the factors that would use to sell in its own market, naturally, some more; the incentives of the National Administration that favor him, the barriers that he will find in the Administration of the country to which he directs the sales, and also will take into account that the techniques proper to the sale(Cook, Alston and Raia, 2012). Design, packaging, transport, contracting, etc. They are somewhat different in international trade.
Customs Declaration or Export Manifesto. Document prepared and presented by the Exporter through a Customs Agent, duly registered with the Ministry of Finance (provision established in the Regulation of the Organic Law of Customs), reason why only the Customs Agents are authorized to carry out the Customs Operations, except in the exceptions that it establishes .- Document of Transport.When the transport of the merchandise is done by sea or land , this document is called “Bill of Lading”. Since it has a dual function, it constitutes, on the one hand, the charter contract and, on the other hand, the title to the goods. By air and having the functions, the document of transport is denominated “Air Guide”. This document is issued by the company that provides the service(Manresa, 2010).
FacturaComercial.
It is the document that the exporter must send to its client abroad, protecting the goods shipped. It must be presented in the corresponding place with the data and declarations necessary for its recognition.
Export License.
Is the document that allows the export of those goods subject to quantitative or qualitative restrictions. The license must be used in the Port of Shipment that is indicated therein, and only covers a certain amount(How to prepare and process export and import documents, 2005).
Export Process
The process begins with the submission and acceptance of an application for a shipment authorization through the customs computer system, which, following the steps below, becomes an export declaration.
The process ends with the shipment of the merchandise
Presentation of the application for shipment through the customs computer system. Provision of documents supporting the request for authorization of boarding: good visas (consult the website of the Ministry of Commerce, Industry and Tourism) or authorizations when this is necessary, mandate when acting through a customs brokerage or agent , and the documents proving the export operation(The handbook of country risk 2008, 2008).
Validation and acceptance of the shipping authorization
Receipt of goods to the primary customs zone or warehouses of the conveyor, destined to the loading of the merchandise of export, for the selective or random determination of the shipment or of the physical or documentary inspection.
Realization by the customs authority of the practice of documentary or physical inspection of the goodsargue) of the goods in the respective means of transport, with the prior authorization of the customs authority.Certification of the shipment and assignment of the number and date of the manifesto of loading.After previous procedures, the boarding authorization, with the assigned manifesto number, it becomes a definitive export declaration(The handbook of country risk 2008, 2008).
Conclusion
Project costs are quantified based on market prices inimportation These remain constant throughout the project analysis period. The operational costs of the Project were estimated based on the category of concurrent costs that, as already mentioned, includes all those costs that the institutions of the respective area will have to carry out even when the project ends, such as: agricultural extension services and forestry, road maintenance and forest protection. For the five years of project execution, the costs will be included in the financing(Westwood,2012). In estimating these costs, it has been assumed that the intensity in the development of certain activities such as extension and training services will decrease as the beneficiary population assimilates the proposed technological changes, so that in the projection they remained constant for the year 5 to 10, decreasing by 10% annually from year 11 to 15 and leaving them constant from year 16 to 20
References
Cook, T., Alston, R. and Raia, K. (2012). Mastering import & export management. New York: American Management Association.
Cypher, J. and Dietz, J. (2009). The process of economic development. London: Routledge.
Export-import bank. (2004). [Washington, D.C.]: U.S. Government Accountability Office.
How to prepare and process export and import documents. (2005). Merrick, N.Y.: International Wealth Success.
Laliwala, Z., Mansuri, I. and Wishkerman, A. (n.d.). Activiti 5.x business process management beginner’s guide.
Manresa, M. (2010). How to Open & Operate a Financially Successful Import Export Business. Ocala: Atlantic Publishing Group.
The handbook of country risk 2008. (2008). London: Coface.
Westwood, J. (2012). How to Get Started in Export. London: Kogan Page.
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