Wednesday, November 11, 2009

Malaysian Import Export Customs Documentation.

Malaysian Import Export Customs Documentation

Establishing customs offices at such ports or entry points to administer customs procedures in relation with the collection and release of goods from customs control.

Prescribe working days and business hours of customs offices in such ports or customs station during which to transact customs release as well the hours permitted to effect clearance of goods, properly release by the proper invoice of customs from such ports of customs station.
Subject goods landed or goods before exportation to the warehousing procedures so as to bring them under customs control.
Revocable versus Irrevocable

A letter of credit may be revocable or Irrevocable. In other words, the importer may or may not be able to revoke its instructions to its bank, cancel or amend at any moment, by the foreign bank acting under its own or by the foreign importer's instructions. As a result, revocable letters of credit are hardly used in international trade.

Common sense would dictate, it is the irrevocable letter of credit that is in everyday use. Such a document, once issued, cannot be revoked or amended without the agreement of all the parties involved, the bank, exporter as well as importer... To learn the Secrets of International Trade .

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