Special attention in international trade business

Here are two special international trade cases that import and export companies must know.

Indonesia customs tackling on stranded goods may differ from policies in other countries.

Taxes should be paid in 30 days after the goods arrived in Indonesia, At Jakarta port, when the goods stay for sometime out of service, the goods may be probably dispatched to a warehouse under relevant watchdog agency, which is owned by National Ports Authority.

The goods can be stored for 1 or 3 months, all the goods will be auctioned in the warehouse if nobody fetches the goods.

The auction proceeds will be used to pay the warehouse fees and the remainder proceeds will be kept for three years.

The remainder proceeds will be handed over to Indonesia national treasury if nobody picks up the goods in 3 years. Good can not be returned before import duty payment.

Egypt customs policy on stranded goods is alike. Overdue fine should be paid for goods that stayed for extra 8 days. Goods which are not fetched will be auctioned by local customs department.

You may have no experience in international trade business; you may not know specific policies in different countries which may affect your foreign trade business, such as payment, shipment, documents, and local policy changes.

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