How should the transit trade country be written correctly? Come and offer your suggestions!
Solved#Entrepot trade#
Our company is currently carrying out business related to transit trade. When filling in some trade documents, the content related to the transit trade country is involved, and I'm not quite sure how to fill it in accurately. For example, if the goods depart from Country A, are transshipped via Country B, and finally arrive at Country C, should the transit trade country be written as Country B? Are there any special circumstances that need to be noted? Are there any specific specifications or standards when filling in? I'm worried that incorrect filling will affect subsequent business. I hope everyone can help answer this question.
Professional consultant answers
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
When the goods depart from Country A, are transshipped via Country B, and finally arrive at Country C, generally, the transit trade country is written as Country B. Transit trade refers to the buying and selling of imported and exported goods in international trade, which is not directly carried out between the producing country and the consuming country, but through a third country for transfer.
When filling in the transit trade country, the key is to base on which country the goods have a substantial commercial transfer operation. If it is only a short stop at the port of Country B without any commercial behaviors such as transfer of ownership, strictly speaking, Country B is not considered as the transit trade country. However, if value-added activities such as repackaging and sorting of the goods are carried out in Country B, and commercial behaviors such as trade settlement occur, then Country B is the transit trade country.
In terms of filling specifications, different trade documents may have different requirements. For common trade documents such as bills of lading and commercial invoices, just fill in the transit trade country clearly according to the actual situation. It should be noted that the information of each document should be kept consistent to avoid causing troubles in business links such as customs clearance and foreign exchange collection.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
The transit trade country is usually the country where the goods are transshipped and trade behaviors occur. If you are not sure, you can check whether the goods have gone through operations such as customs declaration and document exchange in the transshipment country. If so, it is highly likely to be the transit trade country.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
In addition to looking at the actual transshipment and commercial behaviors of the goods, sometimes the transit trade country will also be clearly specified in the trade contract. Therefore, when signing the contract, pay attention to the relevant clauses in this regard. Writing according to the contract generally won't be wrong.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
When filling in the transit trade country, the regulations of the local customs should also be considered. Different countries' customs have different identifications and document requirements for transit trade. Understanding the customs policies of the transshipment country in advance can avoid mistakes.
James LiuYears of service：10Customer Rating：5.0
Foreign trade tax refund consultantConsult
If the business involves multi-party cooperation, it is best to communicate and confirm the filling of the transit trade country with partners. If everyone is consistent, it can reduce the problems caused by subsequent misunderstandings.
Emily LiuYears of service：10Customer Rating：5.0
Settlement and payment expertConsult
If the goods are stored in the transshipment country and the relevant transaction procedures are completed during the storage period, then this transshipment country is basically the transit trade country, and it should be written when filling in.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
Some transit trades are carried out to avoid trade barriers and other reasons. In this case, filling in the transit trade country should be more cautious to ensure compliance with relevant laws and trade rules and not be filled in randomly.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
You can refer to the way of filling in documents of similar previous businesses. If the company has had transit trade before, see how it was written before. If there are no principle errors, it can be used for reference.
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
Before filling in the transit trade country, sort out the whole process of the goods in the transshipment country, including details such as transportation, storage, and transactions. This will help with accurate filling.