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Image credit jaicourtney.net

ZIMSEC O Level Commerce Notes: Consular invoice

Consular invoice

  • Assist customs officials to calculate customs duty where duty is charged on the value of imported goods.
  • Signed by a consul of the importing country certifying and confirming that the prices of the goods are correct:
  • prices of the goods being exported have to be authenticated because exporters and agents sometimes falsify the prices by understating them so as to pay less customs duty.
  • A consul is a trade representative of the importing country resident in the exporting country.
  • There is no need for customs officials to inspect the goods when calculating customs duty
  • Prevents cheating when assessing duty.
  • Speeds up clearing and delivering of goods.
  • Assists customs officials to prohibit importation of banned goods.
  • Accompanies the goods being exported.
  • Contains:
  • A description of the goods in terms of quantities and types.
  • The prices of the goods.
  • A declaration by and signature of the consul of the importing country.
  • Names and addresses of the importer.

To access more topics go to the Commerce Notes page.

 

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